Tech billionaires like Democrats more than Republicans. Here’s why.

[Commentary] The next generation of industrial titans do not appear to have much confidence that Republicans are the political party that’s good for business.

The tech elite are almost exclusively backing Democrats this election cycle. Donald Trump is accelerating this shift, as even one of the big conservative tech investors, Marc Andreessen, pledged “#ImWithHer” (Hillary Clinton) on Twitter the night Trump become the presumptive Republican nominee. The backlash against Trump is just the surface of an underlying trend. Over the last three decades, the super-wealthy have slowly shifted to donating more to Democrats than Republicans, as measured by trends in donations from the Forbes 400 list of richest Americans. Democrats have been the overwhelming winners as tech slowly takes over the Forbes list. It’s not that establishment American donors are suddenly developing a taste for Democratic values, but that shifts in the economy are drawing more from the liberal bastion of Silicon Valley. The nation’s new industrial titans are both pro-government and pro-capitalism. Apple, Google, Tesla and most Internet giants are fueled by government projects: The Internet began in a defense department lab, public universities educate a skilled workforce and environmental policies benefit high-tech green industries.

Silicon Valley believes that the Democratic Party is good for emerging industries.

[Ferenstein is the editor of the Ferenstein Wire, a syndicated column, and author of "The Age Of Optimists."]