I've been in the tech industry a quarter century, I've never heard this "pretty common saying" before, and most importantly I don't think it makes any sense. If anything, tech excels at disruption, where smaller competitors and new ideas are able to solve problems where "just throwing money at it" has failed.
I challenge you to name a tech unicorn who's biggest advantage wasn't the ability to hemorrhage money over a period of time that would've killed any normal business stone dead.