Even in areas where startups aren't literally creating new product categories like the foundational model providers, the edge of a startup over a more established business is the speed at which they can provide value. What's the point of buying CoolCo when you can go with L&M Inc. that has thousands of headcount working on your feature. The value prop of CoolCo is that CoolCo can roll out a feature in the time it takes L&M to make a detailed specification and a quarterly planning doc breaking down the roadmap and the order of feature implementation.