The formation of high redshift galactic discs - a challenge for galaxy formation theory? In this seminar I will discuss recent observations of high redshift (z>4) disc galaxies discovered by JWST and ALMA. The presence of kinematically cold, rotating gas discs at this early epoch creates a strong tension with predictions made by many galaxy formation models. I will discuss how this problem can be mitigated, and present what we think the nature is of these early galaxies based on high resolution hydrodynamical simulations. In this context I will show new results on why many of these baryon dominated, turbulent galaxies may be much more susceptible to global gravitational instabilities such as bar formation than previously thought, with implications for rapid bulge formation and black hole feeding.