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What prevented Oracle, IBM et al to buy out Google, Facebook and Twitter ?

Yahoo refused to buy Google.

Nothing more than complacency, maybe? A mistake I think the newer batch of Big Tech is eager not to make.

And just there's the rub: everyone's eager not to be complacent... until they're not - at least historically speaking.

AFAIK, Zuckerberg was systematically refusing ton sell. He wanted to keep the company.

Then new entrepreneurs can also refuse to sell to faangs. Parent asked who is going to stop faangs to buy competitors.

Zuckerberg is outlier.