We describe a conceptual framework for understanding the way large RNA mole
cules fold based on the notion that their free-energy landscape is rugged.
A key prediction of our theory is that RNA folding can be described by the
kinetic partitioning mechanism (KPM). According to KPM a small fraction of
molecules folds rapidly to the native state whereas the remaining fraction
is kinetically trapped in a low free-energy non-native state. This model pr
ovides a unified description of the way RNA and proteins fold. Single-molec
ule experiments on Tetrahymena ribozyme, which directly validate our theory
, are analyzed using KPM. We also describe the earliest events that occur o
n microsecond time scales in RNA folding. These must involve collapse of RN
A molecules that are mediated by counterion-condensation. Estimates of time
scales for the initial events in RNA folding are provided for the Tetrahym
ena ribozyme.