The 2016 U.S. presidential campaigns have "blown up" Americans' trust in institutions such as capitalism — and that does not bode well for the technology industry, two investors said.
"The thing investors really need to pay attention to is less about what candidates say, than about what this process implies for the future, in terms of uncertainty," Roger McNamee, co-founder of tech investment firm Elevation Partners, told CNBC's "Squawk Alley" on Monday. "I think that investors have gotten used to the idea that the U.S. has stable institutions — that we can count on the banking system, that we can count on the government, in general, to stay predictable within certain ranges. I think that this campaign has blown all of that up."
This year's presidential hopefuls have run a wide gamut on economic issues, with Donald Trump's business background and Bernie Sanders' stance as a social democrat. But even amidst disparate political stances, a common theme was that of "outsiders" from the political mainstream. Meanwhile, trust in government is at the lowest in the past half-century, Pew Research Center has found.