Before FAANG the acronym was MAFANG, but due to too much closeness to a slang word, the political correct crowd change it to FAANG. Also, just as a side note, Microsoft is a trillion worth more than the "G" in FAANG.

FAANG or MAFANG or MANGA are still silly because they include Netflix which is completely unlike and smaller than the other giants.

The FAANG acronym was actually about growth rather than size, and their stock was performing like a tech stock for a while. But yes, they don't belong because they're actually a media "manufacturing" business, although a successful one.