VCs co-founding to capture categories

Kevin describes how some VCs actively co-found companies when they see big category opportunities.

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For more thoughts, clips, and updates, follow Avetis Antaplyan on Instagram: ⁠⁠⁠⁠⁠⁠https://www.instagram.com/avetisantaplyan⁠⁠⁠⁠⁠

In this episode of The Tech Leader's Playbook, Avetis Antaplyan sits down with Kevin Maney, veteran journalist, bestselling author, and co-author of Play Bigger and The Category Creation Formula, to challenge one of startup culture’s most repeated ideas: product-market fit. Kevin argues that the biggest opportunities do not come from squeezing a product into an existing market, but from identifying what is missing in a changing world and building around that gap.

Drawing on nearly four decades covering the tech industry, Kevin shares why founders should think in terms of “market-product fit” instead, and explains how great companies condition the market before they ever win it. He breaks down his framework of context plus missing plus innovation, using examples like Apple’s iPad, Chrysler’s minivan, LinkedIn’s sales transformation, Uber’s early rule-setting, and the rise of AI.

The conversation also explores how investors should evaluate startups, why dominant design matters more than first-mover advantage, and how founders can avoid building short-lived AI wrappers that solve no meaningful problem. This episode is a sharp, strategic discussion on innovation, category creation, and how to build something the market actually needs.

Takeaways

Product-market fit is often misunderstood; Kevin argues founders should prioritize market-product fit instead.
A strong market matters more than a great product or even a great team.
Founders should not fall in love with their solution; they should fall in love with the problem.
Steve Jobs introduced the iPad by first explaining the missing space between phones and laptops.
Apple’s Vision Pro struggled because it was presented as a product with features, not as a solution to a clearly defined problem.
Kevin’s category creation formula is: context plus missing plus innovation equals a new category.
The best startup opportunities appear when major context shifts happen, such as AI, supply chain disruption, or changing buyer behavior.
Winning a category is not just about being first; it is about becoming the dominant design.
Uber succeeded in part because it helped define how ride-hailing should work in people’s minds.
AI founders will stand out only if they solve a real, meaningful problem, not if they simply add an AI label to a weak product.

Chapters

00:00 Intro to Kevin Maney and the case for category creation

01:07 Kevin’s background as a journalist and co-author of Play Bigger

02:45 Why product-market fit is often misunderstood

05:12 What it means to condition the market

08:30 What happens when founders build product first and force the market

09:27 Apple Vision Pro and the risk of unclear problem-solving

10:18 Why founders should love the problem, not the solution

15:42 Chrysler and the minivan as a classic category creation story

19:19 How founders should analyze context and market signals today

23:07 LinkedIn’s “Deep Sales” repositioning and product reinvention

26:06 Why spotting what’s missing raises the odds of success