Cerner and Epic are two prime examples of large, established Healthcare IT players that should have been acquired by some combination of Amazon, Apple, Google or Microsoft by now. The problem is the FTC hasn’t been in favor of the large platform companies extending their tentacles further into the U.S. economy via large scale acquisitions – especially true of a sector such as Healthcare which has increasingly come under Federal Government control over the past two decades. In addition, with Lina Khan’s appointment as FTC Chair, life is getting more difficult for the large platform Tech companies. Thus, large-scale M&A transactions that would seem to make sense (Yes, I understand that Cerner and Epic have legacy Technology), for Amazon, Apple, Google and Microsoft often will not be pursued given the Biden Administration’s (under Ms. Kahn’s leadership), penchant for thwarting M&A transactions. CEOs simply do not have the time nor the grey matter to waste on deals with little probability of closing. What does this mean for Amazon, Apple, Google and Microsoft? Perhaps more organic product development expense as a percentage of revenue, more strategic partnerships and more share buybacks.