"FANG" isn't exactly an acronym. Broadly speaking, it's a stand-in for the handful of very best, largest, desired (employment-wise), and high-paying tech companies.
"Big 4" or "Big N" is an equivalent term that's a little less confusing, because it doesn't have the pretense of letters to stand for anything at all.
That’s not correct. It actually has nothing to do with that. It is an acronym (Facebook, Amazon, Netflix, Google), and it was a group of high growth tech stocks about 5 years ago, coined by Jim Cramer. It’s not even relevant anymore. It has nothing to do with who pays the most or who is most desirable for employees.
The meaning clearly has changed if it's widely being used in a different way. How do you think all those different definitions of words get into dictionaries?
You're being prescriptivist, whereas language usage is descriptivist.
"Big 4" or "Big N" is an equivalent term that's a little less confusing, because it doesn't have the pretense of letters to stand for anything at all.