I'd like to call back to yesterday's discussion on IP law [1] sparked by recent comments from Rob Pike.
There was a major thread on the issue of regulatory regimes and the dysfunction that can arise. How is this acquisition not a textbook example of said dysfunction? This non-acquisition acquisition does not happen at all in a world without IP law.
I think we're seeing a culmination of the dysfunction that results from IP law. The sheer amount of capital has given unbelievable momentum to the forces of consolidation. I still can't foresee the endgame (who can?) but it's even harder to see how it'll turn out well.