In response to this article via Techinasia.
Acquihires have their place, for example when a startup team is a good fit for an acquiring company, bringing with it a wealth of experience in the acquiring company's industry/domain.
Without this good fit, I disagree with the OPs suggestion that acquihires are a way of overhauling an aging organization with a fresh team - in fact I feel in most cases this friction would result in spectacular failure post-acquisition, but that's not the topic of this post.
My issue is with acquihires as an impetus for becoming an entrepreneur - I think this is a terrible thing for the ecosystem.
In the OP, one argument in favor of more acquihires is that it lowers the perceived risk of entrepreneurship. That is to say, it provides something resembling a reward, even in the face of failure.
Is that what entrepreneurship has become?
If how you're going to exit your startup is the thing that's keeping you up at night, you're the kind of entrepreneur I avoid. There's a growing culture of this type of entrepreneur and whilst I don't think it can be squished out of the ecosystem forever, I think it needs to be balanced. And posts like the OP don't help the situation.
I believe the kind of entrepreneur we need more of isn't thinking about exits or acquihires. The kind of entrepreneur we need more of is fanatically focused on providing value to customers. The kind that isn't dreaming about how rich they are going to be, but is borderline oblivious to personal reward and thinking more about how they can improve their product, or how they can grow to another 1000 paying customers, or how they can create an awesome work environment, or how their company is going to need to adapt over the next 10 years.
In terms of business cycles, Singapore has barely scratched the surface of its newly-created status as a startup hub and already we are looking to acquihires to provide failed companies with liquidity or a cushion?
Entrepreneurs in Singapore, here's a reality check. Singapore does not need more acquihires. Singapore needs more entrepreneurs kicking ass, focused on building sustainable businesses that provide real value, make actual money and have a long-term vision.
I don't know about you, but that's the kind of ecosystem I want to be part of.