No this is not quite it. These acquisitions are not 'big bangs' like VC investments where one will make the bank. They are large and small investments across

No this is not quite it. These acquisitions are not 'big bangs' like VC investments where one will make the bank. They are large and small investments across the board - some for know-how, some for talent, some for product, some for brand (ie Beats), some for code etc.. An acquisition is expensive beyond the price tag, especially in terms of opportunity cost if you bet on the buy and it fails.