‘You’re headed for a one-term presidency,” Steve Jobs told President Obama at the beginning of a one-on-one session the president requested early last year. As described in the authorized biography by Walter Isaacson, Apple’s founder said regulations had created too many burdens on the economy.

Jobs was an Obama supporter, but his just-disclosed comments are typical of a new frustration with Washington among Silicon Valley executives. Their high-tech companies are supposed to be the country’s engine for growth, but the federal government is gumming up the works.