Initially, the Silicon Valley world was all enamored with the Minimum-Viable-Product (MVP). The thinking was that you need to check whether your product idea can sell to build a unicorn.
Now there is an advance on this concept with the Minimum-Viable-Company (MVC). The thinking is that it is not enough to come up with a product. You need to show that your business is viable. The assumption seems to be that venture capitalists like to know that there is a venture behind your idea that resonates with a market, i.e. focusing on the product-market combination. At this point, one assumes, the VCs will come charging in with their money and help build the venture. And since VCs like to have “professional” management, they are likely to replace you, the founder, with a more experienced manager from another unicorn or corporation.