> Alot of smaller M&A in tech space was bad, it just was not Figma buying Adobe bad.

Yeah, you're gonna have to defend that assertion.

> I think startups exiting via M&A is part of the problem. It creates perverse incentives which is basically fuck profits, squash all competition while lighting money on fire and THEN when you are so embedded, screw over everyone knowing there tunneling out of your really thick walls is going to be extremely difficult.

I hate to burst your bubble, but the chances of a small startup getting acquired while "lighting money on fire" is basically zero. You have a particularly narrow-focused lens on startups that is driven by a few high profile stories. When you're on that sort of YOLO rocket ship, you're not looking for acquisition -- if it happens, something went wrong.

So yes, part of my argument is that smaller roll ups could not happen, and that market looks nothing like what you're describing.