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Thats a strange take.

Time is money. Thats why lottery winners often take a lump sum payment instead of an annuity.

There is nothing wrong with cashing in your chips now vs gambling your winnings for an uncertain future.

I'm not saying a company should never be permitted to accept an acquisition offer. I'm just saying that getting acquired shouldn't be Plan A or their "only exit" as you put it. They should foremost try to make it as their own company, and if that was never going to be feasible for them, then maybe society is better off without that sort of company in the first place.

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