But if a company evolved repeatedly, and transformed itself, it's hard to say that the change was due to inflexibility. And in many ways, massive shocks are easier for large companies to absorb, due to their greater institutional capacity. I'm arguing that a "meteoric event that could extinct Google, Facebook, etc. and leave only small, adaptable companies" is actually the opposite of what would occur. Instead, any large-scale change allows the organizations that have the deepest pockets and largest capacity to thrive, destroying smaller companies.

For some examples of how large companies are better are building resilience, see Chapter 5 of "How Civil Institutions Build Resilience" (a report I co-authored) http://www.rand.org/pubs/research_reports/RR1246.html

Of course, in the wake of a disaster, new crops of innovative companies show up. This happens most clearly in my experience in reinsurance after a major disaster and resulting bankruptcy of some old firms. But it's a different dynamic than the one discussed.