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IBM should definitely have a place there. Netflix is the one that's not like the others.

And where is the M for Microsoft? The acronym doesn't make much sense if you ask me.

The acronym refers to pay, not tech. IBM doesn't match the pay of FAANG

It's come to mean that but it was originally about stock--between which there was correlation.

Nope. It refers to the stocks of the companies. Nothing to do with pay[0]