I would call it a tie:
* Since 1972, the Nasdaq 100 has experienced slightly higher annual returns
(10.8%) than the S&P 500 (10.5%), but it has also experienced much higher
volatility.
* During the bull markets, the Nasdaq 100 has crushed the S&P 500 (the 1990s
and the post-2008 market).
* However, during bear markets, the S&P 500 has performed much better than the
Nasdaq 100 (1973-1974, early 2000s, the 2008 financial crisis).
* The Nasdaq 100 beat the S&P 500 in 25 out of these 46 years (54% of years).
Independent of effects on GDP, the internet (nasdaq100) has still strongly outperformed the overall US stock market (sp500).