While I think the premise is sound, it is not mutually exclusive to The Lean Startup model. Maybe well-funded companies need to do less customer discovery, but the train can only run so far on incomplete products with a poor user experience.

Fat startups might work for some sectors like entertainment and ride sharing during boom times like now, but I find the Lean Startup methodology to be timeless and applicable to almost any entrepreneur at any point in history. It has other weaknesses that I plan to cover in an article, but overall it has few “exceptions” of entrepreneurs it’s not applicable to.