Ever since the end of the financial crisis, growth has had a massive leg up over traditional value. There are a variety of reasons that explain the dominance of growth businesses over this time, which include interest rates that are at rock-bottom levels, the increasing role of technology in global economies and a shift in business model for technology businesses to a recurring, more predictable Software-as-a-Service model.
Much of the reason for the significant outperformance of growth and the indexes that proxy growth, specifically the Nasdaq 100 (QQQ) compared to the S&P 500