- the companies that died because acquiring them was too much of a hassle
- the companies that died or never got funded / started because the investors couldn't see and exit path
- the companies that got acquired piecemeal (Windsurf, Inflection), leaving the early employees with NOTHING simply to avoid the ire of anti-trust hawks at the FTC. This has irreversibly damaged the SV bargain - early startup employees work hard in case of an acquisition, they get rich.
So Lina Khan can keep patting her own back but there's a reason founders, early-stage startup employees and investors disagree.