To gain insight in the quantum nature of the big bang, we study the dual field theory description of asymptotically anti-de Sitter solutions of supergravity that have cosmological singularities. The dual theories do not appear to have a stable ground state. One regularization of the theory causes the cosmological singularities in the bulk to turn into giant black holes with scalar hair. We interpret these hairy black holes in the dual field theory and use them to compute a finite temperature effective potential. In our study of the field theory evolution, we find no evidence for a ``bounce" from a big crunch to a big bang. Instead, it appears that the big bang is a rare fluctuation from a generic equilibrium quantum gravity state.