When Jim Cramer coined it (originally as FANG) and began pumping it on his show regularly, it was just a batch of large, sector dominant tech stocks he thought should be bought at that time (with the letter ordering being convenient for memory). That's all it was. There is no greater definition, and it's bizarre to see people argue over that aspect routinely on HN, given it was nothing more than a stock pumping promotion by a slightly vacuous tv bobblehead.