The auto industry alone is on track to lose more than $200 billion in 2021 as a result of the ongoing semiconductor chip shortage, and for industries hoping for a silver lining, conditions are expected to get worse. Daniel Newman, a founding partner and principal analyst at Futurum Research, spoke to Cheddar about the fallout from the shortage, including price hikes for goods. He noted that while tech leaders like Elon Musk speculate that the shortage will be remedied by 2022, Newman said it could potentially linger even longer. "The ability to expand production doesn't happen in a short period of time," he said. "You're talking about multiple years to build out and expand this capacity." He also pointed to concerns over the hostile relationship between China and Taiwan.