My pet theory is that those companies lose the ability to retain, much less attract, top talent as more mba's and business types who are just looking at the bot

My pet theory is that those companies lose the ability to retain, much less attract, top talent as more mba's and business types who are just looking at the bottom line takeover. They can't recreate the early magic because they couldn't have created the conditions for it in the first place. They just came in later to help monetize after the business models were in place.