The idea that companies can be defined as a binary "tech company" or "not a tech company" is a trope created by tech VCs/entrepreneurs as a means to signal that

The idea that companies can be defined as a binary "tech company" or "not a tech company" is a trope created by tech VCs/entrepreneurs as a means to signal that they are "special" from businesses that we created more than 15 years ago. Most of my clients (mainly PE investors) typically define companies as either "Tech enabled", "tech lead", "nothing". This means usually two things to them: (1) the more tech enabled the higher the margins (EBITDA) I can achieve and (2) the more tech enabled the higher the multiple I can achieve. And that's just it. Everything else is marketing.