The possibility that Elizabeth Warren could win the 2020 Democratic presidential nomination – and perhaps even defeat Donald trump – is starting to unnerve some in Silicon valley and on wall street.

But will President Warren actually be bad for big business and the stock market?

Facebook CEO Facebook CEO mark Zuckerberg told employees this summer that the Warren white house Would not be good for the media company’s social media networks, because of its calls for the breakup of Facebook and other major technology companies.

Tech news site The Verge reported earlier this month that, according to leaked audio clips, Zuckerberg said, ” If ‘Warren’ is elected President, then I would say we would have a legal challenge, and I would say we would defeat a legal challenge. And it still sucks for us? Yes, Yes.

And a recent survey by RBC Capital Markets showed that investors are nervous about the polls, Joe Biden and the ascension of Warren.

“Investors clearly think Biden is better for the stock market than Warren,” said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a report. In fact, Warren was considered the” least market-friendly ” candidate, calvasina noted.

Warren has a populist platform and has talked about doing more to regulate the financial, technical, medical and energy industries. She also proposed a wealth tax of 2% a year on households with a net worth above $ 50 million and 3% on households with a net worth above $ 1 billion.

So it’s understandable why wall street has concerns about Warren.

However, some experts believe that concerns about Warren are way overstated.

On the one hand, few believe the Senate will flip under Democratic control in 2020 – even if President trump loses his bid for re-election.

So There are limits to how much President Warren can do with Executive orders if Congress is divided, said Matt Daly, managing Director and head of corporate credit research at Conning.

And a Warren victory could boost some parts of the market and the economy, Daly told CNN Business. He pointed to clean energy and infrastructure as sectors that would likely benefit if Warren were to win the race for the White house.

While mark Zuckerberg may not be a fan of the Massachusetts Senator, other leaders in the tech industry are backing Warren’s candidacy.

According to a Vox/Recode story earlier this month, numerous tech insiders said they liked Warren because of her strict approach to coming up with policy ideas. Many also viewed her as a more palatable alternative to Bernie Sanders, who is also on the far-left, progressive side of the Democratic party.

To that end, employees and PACs associated with Google owner Alphabet, Amazon, Apple and Microsoft are listed By the center for responsible policy OpenSecrets.org the site as one of Warren’s biggest campaign donors. CNN’S OWNER

Analysts at technology, media and telecommunications research firm MoffettNathanson don’t seem worried about Warren either, noting that there is a difference between campaign rhetoric and actual policy.

“We are relatively sanguine. Of course, a Warren presidency would increase regulatory risks. But Warren’s presidency will increase regulatory risks for many industries, ” analysts at MoffettNathanson said in a report. The analysts added that ” its platform has more boards than a pirate ship; it has plans for everything.”

Warren also spoke harshly about China. This may actually be good for markets, despite current concerns about a trade war.

While trump’s tactic of imposing additional tariffs on China has hurt U.S. companies and consumers, including from China’s retaliation, there is support in the business community for Washington to enforce greater intellectual property rights protections with Beijing.

Warren will probably continue this approach. So it may not be in China’s interest to delay trade talks and hope it no longer has to deal with trump in 2021 if Warren continues to gain ground in the polls.

“There is a growing consensus that China can hold out by trying to “run the clock” on the trump administration through November next year. That dynamic is changing, however, as Elizabeth Warren emerges and Joe Biden disappears, ” said mark Hackett, head of investment research at the country, in a report this week.

“Warren is running on populist policies and could be as challenging an opponent for the Chinese as trump,” Hackett added.

Arguably, a strong approach to dealing with China is a key reason why Kyle bass, founder of hedge Fund Hayman Capital Management, said he supports Warren too.

Bass told CNN Business in August that he would” immediately ” vote for Warren because of her stance on China. She criticized the country’s environmental policies on labor and human rights, and accused China of manipulating the currency.

It’s also worth noting that wall street was initially wary of Barack Obama in 2008 because of similar concerns about the prospect of tougher regulations on health care and the financial sector. (Of course, wall street was spooked by a lot of things unrelated to politics in 2008, such as the collapse of Lehman Brothers and the great recession.)

But Obama’s presidency has proved far more business-friendly than many expected. So the same could happen if Warren wins the White house.