overall impressive. noticed a weird quirk of reading $100 million as "one hundred dollar million" instead of one hundred million dollars
Big tech as we think of them (FAANG) are remarkably self created. Facebook didn't get big through M&A. Neither did Google or Apple. Of all big tech, Microsoft has the most acquisitions, but still, most their revenue today is from services developed in-house. No one would argue that Microsoft is what it is today because they bought LinkedIn and GitHub.
IMO that logic is very flawed, but it’s still pretty trivial to find examples of how m&a has fueled market power expansion e.g. fb and instagram or google and doubleclick. Anticompetitive behavior is perhaps harder to pin down legally, but we’ve clearly not yet achieved some tech utopia.