I don't think the startup model of 99 teams failing and one winning for everyone is suited for FAANGs, because employees have too little skin in the game. That

I don't think the startup model of 99 teams failing and one winning for everyone is suited for FAANGs, because employees have too little skin in the game. That explains why they very very rarely innovate and often acquihire startups and talent in order to innovate. Another big factor you are ignoring is the market. Hiring when the market is strong and firing when it's downhill or when cash is too expensive (eg. see interest rates now) will yield returns just in stock appreciation.