Not even a little. The biggest players are the most sensitive to this kind of thing. Imagine an independent Instagram and Whatsapp running around. That's a fucking nightmare for Mark.

It is precisely the companies that have lost the internal capacity to innovate (Meta) that have the most to lose and the companies that were going extremely well already (Instagram had a bunch of suitors and could have chosen to punch out later in the process, I heard this from Krieger in person) who have the most to gain.

The losers here are people who can buy and hold FAANG as a basket and just sit back and let the market transfer all wealth to pensioners. The winners are founders, employees, new startups, consumers, cities with more offices in them, that's a partial list.