Enrique, perhaps it will spur innovation. But you presume the majors cannot just build a competing product internally and then use their market position to crush the external company. In that case VCs could be reluctant to fund in the first place, knowing the FAANGs could not buy, thus must destroy these business.

The FAANGs don't need innovation... as long as no one else as it, they retain their position.

Do you have reason to believe this analysis is wrong?