Big Tech should be worried about the company’s experience. Once viewed by the left as the Good Big Business, Big Tech has now been reclassified to the ranks of the rapacious monopolists. Meanwhile, the right is also getting less tech-friendly as it perceives Big Tech taking the other side in the culture wars. At the moment, tech has no obvious political allies.“No obvious political allies” is a dangerous place to be. Big Tech has become the 21st century version of the 19th century’s railroads. That is, monopolists both left and right love to hate.
The railroads ended up hyper-regulated and shackled. Does their trajectory predict where Big Tech ends up ... as a virtual public utility? A far-sighted investor might consider moving his/her portfolio out of the tech sector.
