Of course tech companies don't do this, it's all about risk. Tech startups are difficult, expensive, and high risk. It takes the right kind of people to start something successful, most people can't do it. Places like Bell Labs don't exist anymore predominantly because it's cheaper to let other people cover the risk, and only buy companies that have a product and significant traction.

Hedge fund managers don't have a 90% chance of producing something nobody wants and losing all the money that was invested in them.