One detail that’s grabbed the attention of headlines is the recent outburst by Shervin Pishevar concerning a rather gloomy outlook on the US economy in the coming years, and it seems to be brought on in part by a Bitcoin crash that hasn’t yet finished while a ruined infrastructural support system lags far behind that of other countries. It all seems so odd: The venture capitalist, who formerly headed Sherpa Capital, had disappeared since his resignation from the company back in December. What brought him back in such a furious storm?
For those not yet in the know, Shervin Pishevar was originally forced to exit Sherpa Capital due to overwhelming attention toward allegations of sexual misconduct, and he stated that it was necessary to cut himself off from the company in order to prevent the drama from interfering with its operation. Interestingly enough, his return to media headlines now coincides with a recent lawsuit that was placed on a company known as Definers Public Affairs — a rather official-sounding name if one hadn’t known differently — for allegedly slandering him.
In his 21-hour onslaught of more than 40 tweets outlining a dark future for US enterprisers and consumers alike in the coming years, Shervin Pishevar notes the following:
- The infrastructural support system in the US is in bad shape. It’s difficult to acquire funding for projects anymore, and those that are approved take months or years to finish what the likes of China can knock out in mere hours.
- The big fish in business, namely the five most influential companies (Apple, Amazon, Alphabet [Google], Facebook and Microsoft), will continue to trample start-ups in the country, stifling innovation and discouraging more companies from starting up in the future.
- The stock market is about to see a 6,000-point drop thanks to these conditions and more, one of them being the much-emphasized continuation of the Bitcoin crash. Shervin Pishevar points out that the cryptocurrency is expected to drop by as much as another $5,000 before coming to a rest and then slowly ascending once more.
- Bond volatility is going to shake other markets out of their boots due to “the genie being out of the bottle”.