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I understand the GAFAM, but is Netflix even in the same ballpark? (It's also extremely dependent on Hollywood, isn't it?) And Microsoft isn't in the Silicon Valley...

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It's a play on faang. Which excludes Microsoft because cool people like Paul graham think (wrongly of course, as usual) I that Microsoft is dead

Paul Graham ? Isn't "FAANG" specifically about Silicon Valley's labor market and local politics, but hardly relevant outside California ?

Which excludes Microsoft because it was a stock-market term for hot tech stocks, at a time were Microsoft already was "established and boring".

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