As investors ride into the first wave of tech earnings reports in 2018, there is a weird mix of optimism and unease.

From a financial perspective, the prospects for big tech look as bright as ever. And yet, there is this nagging undercurrent that something, sometime has got to give.

While there may be some smaller tech companies that are struggling, to be big in tech these days is to be fat with profits and stock gains. The Nasdaq is up 39% in the past year with the big four – Facebook, Apple, Alphabet and Amazon – all outperforming the index with gains between 48% and 82%. At the same time, there is a growing sense that a stock market that sets record after record can't keep it up forever. Just as there is a disconnect between the financial success and the moral backlash tech is facing, which also can't last long...