I don't see any evidence of a slowdown in actual innovation.

I do when I track when my money goes. A lot of the products I actually spend money on are either made by 10+-year old companies from the West, or newer companies from China.

This is quite disturbing actually, the "new wave of companies" isn't here anymore.

ChatGPT ?

Basically trained by Microsoft's investment [1]. This fits with the parent commentator's thesis, which I also agree with.

There hasn't been a significant effort to enforce antitrust in the software domain since United States v. Microsoft Corp in 2001, and we are seeing the consequences.

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[1] https://www.theverge.com/2023/3/13/23637675/microsoft-chatgp...

There's been a heluva lot of innovation in software since 2001.

No one is arguing that there hasn't been any innovation, just that it's by the same 5 or so companies; and that there could probably be more if there was more competition.

That's just speculation. Startups are everywhere and are getting funded.

Just Google "evidence of slowdown of Innovation".

I’d rather see 1000 unicorns than one trillion dollar FAANG

The chance to become the trillion dollar FAANG is what motivates those unicorns into existence. Without the latter the probability of getting the former decreases.