The second piece of this series points out that, beyond the buzzwords that are part and parcel of any investmentcycle – as underscored in the table below – there are fundamental distinctions between the 1990s’ and today’s tech booms.Q4 2019 hedge fund letters, conferences and moreBigger NumbersToday, most M&A activity by Big Tech is done incrementally, one digestible chunk at a time. Microsoft’s $26 billion LinkedIn acquisitionin 2016 represented 5% of the software giant’s enterprise value. Facebook’s $19 billion acquisition of WhatsApp, while a tidy sum for a free-service app, was primarily f…