Big Tech’s uncertain future in the Persian gulf

For years, Persian Gulf monarchies like the United Arab Emirates, Bahrain and Qatar have lured US tech companies and Wall Street capital to team up on projects, dangling friendly investment terms and opulent office hubs with luxury towers, cappuccino bars and bikini-friendly beach clubs.

Deploying their giant sovereign wealth funds, the governments of these countries have moved aggressively to break their overwhelming dependence on oil and gas revenues. And investors, seeking lucrative new markets, have rushed to oblige.