An Illustrative Example, what does it mean?

We have after \( t \)-steps $$ \begin{equation*} \hat{w}(t) = \hat{W}^t\hat{w}(0), \end{equation*} $$ with \( \hat{w}(0) \) the distribution at \( t=0 \) and \( \hat{W} \) representing the transition probability matrix.