Except for all the small business owners that are doing just fine, and many are more than fine. You just don't want to be a corpo who is competing with FAANG, or anywhere where you have to "share" any margins with them.

2 or 3 degrees of separation

If money is trickling down to you from FAANG, you're benefiting from their largesse - or, rather, being exploited by the control they have over your source of income, as both an individual and an business owner. FAANG throwing their weight around to force-underpay suppliers becomes the problem of the retail worker whose wages are paid by underpaid consumers. And so on.