I'm sympathetic to the tech mirage view generally. One piece I don't quite understand though, is why did tech so disproportionately gain from low interest rates

I'm sympathetic to the tech mirage view generally. One piece I don't quite understand though, is why did tech so disproportionately gain from low interest rates when compared to other industries? Is it just because the friction of starting a non-physical business is so much lower? I'm not quite satisfied with that as an explanation, because that provides a competitive advantage to tech vs other industries regardless of interest rate levels.