The son of a Syrian migrant launches the iPhone The son of a Syrian migrant launches the iPhone

All of a sudden, the big US techs and the White House are at loggerheads. Does this mean the end of the era when the techs dominate Wall Street?

Look at the list of the largest companies in the world by market cap, and you mainly turn up techs. Apple is number one, followed by Alphabet. Up there in the top six you also have Microsoft, Amazon and Facebook, but just one firm from an old school sector: Exxon Mobil, the company that for many years was under the leadership of Rex Tillerson, the new Secretary of State.

That serves as quite a good metaphor. President Trump's cabinet will boast just one man from a senior position from the top six, the one company that is not a tech.

There is another comparison you can make: contrast the year 2007 with 2008. 2007, says Thomas Friedman, in his book 'Thank you for being late' gave the world the iPhone, Kindle, Airbnb, and moves by Facebook and Twitter to go global. It was also the year when IBM launched its super computer/AI system Watson. 2008 was the year when the global banking system nearly collapsed.

2008 was the year when the global banking system nearly collapsed.

Since 2008, the developed world has limped forward seeing its worst recovery from recession ever recorded. But the techs have boomed.

Maybe that is why many people from the US so hate the techs, with their, well their very un-conservative ways, highly paid but relatively small labour force.

And now these companies clash with the new US President.

The dramatic reaction to President Trump's migration ban from seven Muslim countries illustrates the point. The reaction from the techs, who tend to employ a much higher proportion of non-American born workers than most US firms, has been furious.

The response from Apple is a case in point, and if you want this argument emphasised, just bear in mind that Steve Jobs was the son of a Syrian immigrant. That fact alone may serve as the perfect metaphor for the division between the techs and an east and west coast mindset and the more Trump-like mindset of the interior. Apple CEO Steve Cook said: "Apple is open. Open to everyone, no matter where they come from, which language they speak, who they love or how they worship."

But Google/Alphabet, whose co-founder Sergey Brin joined protestors this weekend, has created a $4 million crisis fund to support refugees and organisations that support human rights. Lift has donated $1 million to ACLU - The American Civil Liberties Union, and Airbnb is making accommodation available to people affected by the Trump travel plan. There is even talk that Mark Zuckerberg is thinking of standing for President in four year's time.

But that is just one side of the fallout.

While the TPP trade agreement with certain Pacific countries was very unpopular, there is no doubt, with its rules on intellectual property, it worked to the benefit of the techs.

And while the EU looks at ways to regulate the US techs, with Mr Trump in command in Washington, these companies can no longer count to the US President for support.

There is a wider point. For technology companies, see a metaphor for digital thinking, flat, very un-hierarchical management structure, more emphasis on collaboration and open standards. A more social way of doing business.

The Trump movement represents an older way of doing things, more traditional and of course more conservative.

Expect the techs to face more regulation hurdles: President Trump may be in favour of less regulation, but maybe not when that involves techs and a hint of a threat to traditional jobs.

Technology is not stoppable; ultimately any effort to hold back technology will mirror the end results of the activities from the Luddites.

Even so, expect the techs to have a much harder time for a few years, maybe until President Zuckerberg, Schmidt, Page or Musk says otherwise.