A Shift in How Markets Are Formed

In classical entrepreneurship, Total Addressable Market (TAM) is treated as an external given.

Founders are expected to:

  • identify an existing market,
  • estimate its size,
  • and compete for a share of it.

This framing assumes that markets pre-exist the company.

That assumption no longer holds under certain technical conditions.

From Market Discovery to Market Authorship

When institutions become executable, markets can be generated, not merely entered.

Historical examples illustrate this clearly: GDPR, HIPAA, FATCA, ISO standards, Open Banking.

Each of these did not merely regulate a market. They created one.

An entire industry emerges once compliance, responsibility, and interfaces are formalized.

In the past, only states could author such structures.

That constraint has changed.

The New Capability of Entrepreneurs

Today, a company, a formal language, or even a well-designed agent system can operationalize a governance structure.

If a founder can define:

  • how agents are authorized,
  • how responsibility is attributed,
  • how contracts are translated into execution,
  • how liability and audit are enforced,

then adoption becomes structural rather than optional.

Organizations do not “choose” to join such systems. They must connect in order to operate.

At that point, TAM is not discovered. It is drawn.

TAM as a Consequence, Not a Premise

In this model:

  • TAM does not precede the system.
  • TAM emerges from the system’s necessity.

Market size becomes a function of:

  • how broadly the institution applies,
  • how unavoidable the interface becomes,
  • and how deeply it integrates into operational reality.

The scale is limited less by competition than by the founder’s ability to specify and stabilize the institution.

A New Entrepreneurial Category

This gives rise to a category that previously did not exist: the institutional entrepreneur.

The term was unnecessary in the past because institution-writing authority belonged exclusively to states.

Under executable governance, that monopoly dissolves.

This raises a final question.

An Open Question

If a founder authors institutions, defines responsibility regimes, and generates markets through governance structures,

is this still entrepreneurship?

Or are we witnessing the emergence of a new kind of political body— one implemented not through law, but through language, agents, and execution?

This position does not answer the question.

It marks the point where market creation and institutional authorship converge.

Status

This page states a position.

It does not propose a business model nor prescribe a funding strategy.

It describes a structural condition under which TAM becomes a designed outcome rather than an external constraint.