I see the increase in policies and procedures as a big issue at larger companies. Take your standard CRUD app created at some large corporation. It will go through QA, security auditing, legal, and whatever other team has established a policy or procedure around some process. Each one of these elements takes some number of weeks or months, and each different silo is typically unapproachable (or has some procedure on how to approach them, too).

Smaller companies can achieve higher velocity because the employees dont necessarily need the policies and procedures, or they simply havent been created yet.