Capital efficiency has existed in roughly every technology wave. Many of the largest, more important companies in the world started off highly capital efficient. Inded, capital efficiency tends to reflect an especially strong business model (and in some cases founder). Examples include:

Microsoft was bootstrapped in the 1970s and did not raise any venture capital until a round right prior to their IPO, when Bill Gates wanted a VC for his board and that came with strings attached for the VC to invest. The investment went straight into the bank account and remained untouched.