ABSTRACT Circumstellar discs likely have a short window when they are self-gravitating and prone to the effects of disc instability, but during this time the seeds of planet formation can be sown. It has long been argued that disc fragmentation can form large gas giant planets at wide orbital separations, but its place in the planet formation paradigm is hindered by a tendency to form especially large gas giants or brown dwarfs. We instead suggest that planet formation can occur early in massive discs, through the gravitational collapse of dust which can form the seeds of giant planets. This is different from the usual picture of self-gravitating discs, in which planet formation is considered through the gravitational collapse of the gas disc into a gas giant precursor. It is familiar in the sense that the core is formed first, and gas is accreted thereafter, as is the case in the core accretion scenario. However, by forming a ∼1 M⊕ seed from the gravitational collapse of dust within a self-gravitating disc there exists the potential to overcome traditional growth barriers and form a planet within a few times 105 yr. The accretion of pebbles is most efficient with centimetre-sized dust, but the accretion of millimetre sizes can also result in formation within a Myr. Thus, if dust can grow to these sizes, planetary seeds formed within very young, massive discs could drastically reduce the time-scale of planet formation and potentially explain the observed ring and gap structures in young discs.