There has been multiple threads about the virus itself and the proper response to it. I want to start this thread to begin a discussion of the long-term impact across multiple dimensions: political, cultural, social, economic, business.
Here are some of my predictions:
-Decoupling from China will accelerate significantly. Americans will become more anti-China and anti-immigration and far more skeptical of globalism and multinational organizations. The U.S. will be the most isolationist it has ever been since the 1920s.
-Both political parties will increasingly become populist. The 2020s will be the decade of fervent populism, a reaction against the elites. Goldwater-Reagan conservatism will be dead within the GOP, replaced by a conservative nationalism that calls for more government interventions on behalf of workers, skepticism of "free" trade deals, and reduction of immigration. The Democrats will be a de fact socialist party in which the ideas of Bernie will be the ideological standard.
-Telecommuting will be far more common and become a "normal" aspect of white collar jobs. Videoconferencing platforms such as Zoom will skyrocket in value.
-Colleges will lose their value. Parents who lost their savings in the stock market and lost their jobs will wonder what value their kids are getting from these colleges, as they turn to online courses. The top schools will be fine, but the lower tier ones will get crushed. Many will shut down.
-The maturation and commercial viability of VR and AR will accelerate. Even when the virus is over, in-home entertainment will become a standard part of weekends, with the bar and nightclub industries getting crushed. Due to this trend, companies such as Facebook and others tech players will increase their spending on producing viable entertaining VR and AR platforms.
-Further decline in birth rates as people question the wisdom of bringing kids into this environment. The U.S. birth rate is already low, and I think this will get worse.
-Continual decline in revenue from ticket sales to major sporting events, concerts, and movie theaters. E-sports will become huge. Within 20 years, the top gamers will be household names in a manner similar to Brady and Lebron.