Product State

Product State

WGMaTM: AI-Native PMs, the AI Capital Cycle, and the Product Job Market

What Got My Attention This Month, as a Product Leader

Esteban Contreras's avatar
Esteban Contreras
Mar 31, 2026
∙ Paid

Here’s what got my attention this month — a short list of things I read and watched recently that felt worth pausing on, as a product leader.

This month’s main takeaway: The boundaries are blurring. Between PM & builder. Between software and labor. Between venture appetite and market adoption.

If you work in product, this doesn’t feel temporary. It feels like a new operating environment taking shape.

1/ AI-Native PM on the AI Exponential

One of the more interesting things I saw this month came from Cat Wu, Head of Product for Claude Code at Anthropic: A thoughtful look at how PM teams are adapting their workflows and roadmaps in the face of rapidly evolving LLMs.

There were two ideas in particular that stuck with me.

The first was a familiar-looking Venn diagram that, on the surface, could be easy to dismiss as just another version of the classic product management model. I think that would be a mistake.

What it actually reflects is the real thing happening inside product teams right now: The lines are blurring very quickly.

Tools like Claude Code, Codex, Cursor, OpenClaw, v0, Lovable, and Replit are making it easier for more people to move across the product dev lifecycle. Code is more accessible. Prototyping is faster. Distribution is being reshaped from multiple angles. Tiny teams can do the work that once required much bigger ones.

That doesn’t mean product management disappears, but it is changing. It’s almost shapeshifting.

“The new product management rhythm is rapid experimentation, consistent shipping, and doubling down on what works.”

— Cat Wu, Anthropic

We now have solo founders building real SaaS businesses. We have teams compressing in size while accelerating and expanding in output. We have people spending more time learning agentic tools — and then producing much more, faster.

The second idea was Cat’s framing around ‘side quests.’

“A side quest is a short self-directed experiment you run outside your official roadmap—an afternoon spent prototyping an idea, testing a capability you assumed was out of reach, or just seeing what happens when you push the model harder than you expect to.”

At first glance, that might sound like a modern rebrand of Google’s infamous ‘20% time.’ But what got my attention wasn’t the existence of side projects. It was the implication that, in the right environment, they may matter more than a rigid long-range roadmap.

In fast-moving environments, a side quest is not a distraction. It’s not a once-a-year hackathon either. It can be a discovery engine.

And done well — which requires the right team, and the right culture — that kind of aligned autonomy may be part of the recipe for continuously shipping actual value. It also helps explain how products or features that initially look peripheral can become strategically important faster than anyone expected.

In some ways, the PM role is changing as fast as the tools. New learning curves are forming in real time.

In other ways, the role has not changed at all.

Judgment. Taste. Decision-making. Influence. Vision. Strategy. Insight. Adaptability. Impact.
That mix is still the core of product management.

The tools are changing. The focus is changing. The lines are blurring.
But the need for people who can see clearly and bet well is not.

As Ben Horowitz put it… “Your only job is right product, right time.”

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