The great technological acceleration of recent years has changed just about every aspect of our lives: how we work, communicate and do business.

But technology itself is not inherently good or bad — it can be put to good or bad uses by good or bad people. The printing press gave us both the beauty of Twelfth Night and the hatred of Mein Kampf. The radio brought music into the living rooms of millions and gave dictators a captive audience for their propaganda.

Every technological revolution follows a pattern. First there is euphoria, then fear, then eventually a sensible equilibrium. Silicon Valley has enjoyed its euphoria stage — the vibrant, sun-drenched years of exponential growth fuelled by the idealism of entrepreneurs with an unwavering belief that they were a force for good. The pendulum has now swung towards greater suspicion. The danger is that suspicion turns into a phobia of tech altogether.