Why are there trillion dollar tech companies and not trillion dollar biotech companies?

I had a discussion this morning with a biotech founder who believes a big reason for this regulation—there's a lot of biotech innovation that's basically illegal. And then there's a bunch of stuff that's frowned upon, like "designer babies" and cloning.

I think it's probably that, plus more.

We know how computers work, and there's a whole lot we don't really know about bodies and biology. My acquaintance nodded when I said this, and said, "yeah we've basically been given this alien technology and we have to figure out how it works and what to do with it."

The cost of entering the market is also prohibitive. 

What else do y'all see and think?