Shervin Pishevar, a vocal Twitter user, entrepreneur, super angel investor, and venture capitalist had been quiet for two months after making an announcement about resigning from Sherpa Capital. This was after multiple allegations were made against him regarding sexual misconduct. He broke silence on a 50-message Tweet storm that addressed various issues, including the US economy, technology, Bitcoin, and the bond market, among other problems. After the drastic drop in the US stock market at the beginning of February, Shervin Pishevar believed the market would plunge even further, predicting a 6,000 point drop. The state’s decisions to increase interest rates, offer tax giveaways, and problems with credit accounts were some of the reasons Shervin stated would cause the 6,000 point drop. Next is a detailed overview of some of the Tweets.
Government Bonds are no Longer Effective
A while ago, the Central Bank solely relied on government bonds to recorrect the market using quantitative easing. Shervin Pishevar predicts that this strategy is no longer effective as it has been used too many times.
Domination of Tech Gurus is Stifling Growth
Shervin refers to the five tech gurus– Amazon, Google, Apple, Microsoft, and Alphabet as monopolies that stifle the growth of startups. This is because the companies tend to buy out startups in a bid to alleviate competition. The trend will have a detrimental effect on the entire economy as the system will eventually fail.
America has lost its Uniqueness
In the past, America was famous for nurturing talent, the entrepreneurial spirit, and ideas. Shervin Pishevar cities that the country can no longer boast in this exclusivity, noting that technological innovation has become a global phenomenon. According to him, a country like China has flourished in technological innovation as it can build a train station in just nine hours. Shervin echoes his sentiments further by stating that the entrepreneurial spirit can thrive anywhere.
Economic Disaster may Lead to the Development of a New Economy
Apart from his foul predictions of the state of the economy, Shervin offers bits of hope, stating that the looming economic disaster provides an opportunity for the development of a new economy.