That's a huge stretch so that you could pull two boogeymen into the conversation and stand them next to my argument. The big tech companies may have undesirable effects on the world but paying individuals too much isn't one of them. Literally the only complaint is that other owners can't hire for under market rate? Who cares?
I do work for a FAANG company and bear that bias, yes. I haven't always worked at a FAANG company though -- before I did I appreciated the upward pressure FAANG companies were putting on salaries.
I took another look at your comment I replied to, I must have glossed over the "If they have not ties to the party, they shouldnt have tried to compete" part. I apologize. I want to be clear that I'm not suggesting these companies shouldn't compete, I'm glad for all of the employers we have in tech. What I am suggesting is that they pay the price the market for that talent is currently willing to bear and if that results in less concentrated ownership for the ones that eventually do come to dominate the industry I won't be losing any sleep. For those that think current giants are "unbeatable" -- current FAANG companies were tiny and irrelevant 20 years ago and the industry was dominated by a different set of "unbeatable" giants.
there 's nothing to apologize for. Its understanable we all have different biases on the issue (I'm a solopreneur so not particularly inclined to side with VCs either).
Concentrating tech in a few companies in a small area may have been good for that small ecosystem but a lot of people feel left out. A lot more also feel that tech has stagnated, largely because those companies have saturated the attention levels of users and are just regurgitating slightly modified versions of the same products. As for whether they are unbeatable -- they are less beatable today than they were 20 years ago, as the market has evolved and consolidated and the low hanging fruit have been reaped, as happens in all new industries. In my view the incumbents are as old and established as car brands or banks -- the internet grew so fast that it's already old.
