I'm reminded about the quote from The Incredibles: "When everyone's super... no one will be." When smaller AI startups start, say, showing more relevant search

I'm reminded about the quote from The Incredibles: "When everyone's super... no one will be." When smaller AI startups start, say, showing more relevant search results than Google does, and more personally relevant posts than Meta - and IMO this is highly likely, since FAANG have much more brand reputation to protect than those startups and will necessarily move cautiously - perceptions will start to rise that they are no longer the superpowers. But their valuation multiples are based on them being the only superpowers in their respective spaces. So if they want to preserve shareholder value, and they can't depend on hype, they'll have to cut aggressively so they can at least show strong earnings per share.