Why is −78 °C a magic temperature for organic reactions?
Dry ice (solid carbon dioxide) sublimes at −78 °C. Dry ice and acetone are a common cold bath for chemical reactions.  The melting point of acetone is -95 °C so the bath never gets cold enough to freeze the acetone. The bubbling of the carbon dioxide gas as the dry ice sublimes keeps the cold bath well stirred.

Typically, though, the temperature in the flask with an ongoing reaction is at least about 5 °C higher than the one in the cooling bath.  (Except if using a thermocouple, working at a scale of 10...25 mL and less often implies that the thermometer is in cooling bath, and not in the reaction mixture. Thus, this temperature difference isn't recorded.)