I wonder if that had anything to do with low interests rates and Venture Capitalists practically throwing cash at startups?
Other industries just simply didn't have the same advantages, and now that tech companies no longer have those advantages either, they're becoming just like any other corporation.
Also, tech companies are on the forefront of businesses who sell services to other businesses which tends to be much more profitable than selling to consumers. Regular consumers have never been Google's customers, even though most regular people use Gmail. Their customers are the advertisers.
People were throwing money at tech because tech was "disruptive" which meant finding a way to skirt existing employment laws, destroy established industries with worker protections, and then boost the prices to insane levels once they've completely wrecked traditional competition. See: Uber.
I wonder why they were throwing so much money at tech? It wasn't about Union Busting, was it?? Oh wait, it totally was.