I don't find that worrying at all. Apple is acquiring the expert talent (and IP) they need to excel in markets the company wants to pursue going forward. Smart.
It's very hard to compare the first 30 years to the last 10 on an apples to apples basis (Pun be as you will).
First theres a technology gap in hardware, software and talent between the eras. The industry was just beginning to move into the home in the 80's and early 90's. It was expensive adjusted for today's dollars computers cost between $5-10k.
Hardware computing capabilities limited what software could do even if you dreamed bigger. Education and training was also extremely limited, only die hard techies were involved.
I don't have data to back it up, but i don't believe many companies make M&A purchases in the first 5 years of their existence and most likely even 10. In the 80's i also believe there would a extremely small pool of tech companies to buy even if you wanted to do it.
Then you have Steve leaving in 85 before returning in 97...during that time apple made 5 acquisitions...so to say without steve apple is going crazy with purchases doesn't hold up since they had 12 years without him and did little.
the first 30 years of apple and very few acquisitions has more to do with a young company, a young industry, educational deficiencies and growing pains with an almost collapse leads more to why there are fewer per year purchases,
Flash forward 20-30 of those years....tech improves, educational opportunities improve, more minds entering industry, more real world applications, more money being thrown at ideas, and the rise of the smart phone. Barrier to entry is no longer $5k but sub $1000 at home with plenty of free options at schools, libraries and the power of the internet.
Big Industry, universities and government orgs were once the training and feeding grounds for early tech. Woz from HP, Paul Allen from Honeywell, Xerox, Arpa, Cal Tech, MIT....This was where you learned until the mid to late 90's
The industry is now dripping in talent developed from the growth and access to education and hardware. No longer do companies have to or can be the only source of R&D or infrastructure to produce great ideas or tech.
The last 10 years of acquisitions are that result. It's not 1 thing, but culmination and evolution of access, improvements, and growth of everything surrounding the industry.
It's not apples to apples when comparing pre and post steve jobs death when it comes to purchases. Apple has more money now to buy Talent and IP and the market is saturated with properties to buy. Given the state of patent law it seems to me to be prudent to own IP in sectors you're doing research in than to try and navigate that minefield alone.
$30 million to gain a stronger foothold in your product portfolio is much cheaper than the legal fees to defend against everyone who'll show up with a patent saying you infringed. Until patent law changes expect more and more small companies or barely off the ground ideas that have patents acquired or pending being gobbled up by the big 4 -10 (apple, google, amazon, Facebook, netflix etc) than left dangling on the open market if they show any promise.
Anyways i hope all this rambling makes some sense
TL;DR - The tech industry before the smart phone was completely different on all levels. Pre smart phone, Post smart phone worlds are impossible to compare on equal grounds.
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