Some VCs will only invest if there clearly is a $1b+ market opportunity already.
Others, including myself, will invest if it could evolve into a $1b+ market opportunity.
An initial insertion point, a 1.0 market, that is $50m in size is often plenty good enough, if it’s a subset of a $1b+ market you can evolve your product, market and strategy to penetrate.
So I like to hear both. The current product can get us to $50m in ARR. But our roadmap takes us to $1b 🙂