As mobile apps become more closely integrated into our everyday lives, mobile app interactions ought to be rapid and responsive. Unfortunately, even the basic primitive of launching a mobile app is sorrowfully sluggish: 20 seconds of delay is not uncommon even for very popular apps. We have designed and built FALCON to remedy slow app launch. FALCON uses contexts such as user location and temporal access patterns to predict app launches before they occur. FALCON then provides systems support for effective app-specific prelaunching, which can dramatically reduce perceived delay. FALCON uses novel features derived through extensive data analysis, and a novel cost-benefit learning algorithm that has strong predictive performance and low runtime overhead. Trace-based analysis shows that an average user saves around 6 seconds per app startup time with daily energy cost of no more than 2% battery life, and on average gets content that is only 3 minutes old at launch without needing to wait for content to update. FALCON is implemented as an OS modification to the Windows Phone OS.