"Once upon a time, FAANG companies used to be the playground for the smartest engineers, inventors, and product managers. But, as these companies reach market saturation and growth starts to slow, it seems that FAANG is entering a whole new era. An era marked by bureaucratization, degrading talent, and cutthroat corporate culture. This is precisely what happened to Gen 1 tech companies like Cisco and Intel 20-30 years ago. As these companies became more established, they no longer appealed to individuals who wanted to create the next big thing. These individuals naturally moved onto Gen 2 tech companies like Google and Facebook. Meanwhile, Gen 1 tech companies were left with people who were largely there for the paycheck. It appears that this same transition is happening with FAANG as well as the smartest talent moves over to gen 3 tech companies leaving FAANG companies to become the next IBM or Cisco. This video explains the slow degradation of FAANG and the IBM-ification of modern big tech."