If anyone was wondering what Shervin Pishevar thought about the economy of the United States, their questions have now all been answered. The entrepreneur and Uber investor recently spent 21 hours expressing his views through a series of tweets about a myriad of topics concerning the U.S. economy.
Shervin Pishevar used his Twitter account to unload his opinions regarding bitcoin, the future of the Silicon Valley, and the effects of technology on the markets. In a series of more than 50 tweets, the venture capitalist predicted a massive slowdown of the economy. The sudden explosion of thoughts was the first time Shervin Pishevar has spoken publicly since he stepped down from Sherpa Capital in December 2017 after multiple allegations of sexual misconduct surfaced.
Among the most notable opinions expressed in the tweet storm, Shervin Pishevar used the platform to predict a drop of 6,000 points in the stock market over the next few months. Part of the reason for this dire prediction lies in his belief that volatility in the bond market will cause ripples through the rest of the financial sector. Shervin Pishevar blamed the uncertainty coming out of Washington as a result of the White House stance on trade sanctions as a major reason for the predicted market collapse. In his analysis, Pishevar expressed his opinion that the U.S. will continue to lose business to China because of the escalating decay of the U.S. infrastructure.
Shervin Pishevar also took on the emerging bitcoin technology, pointing out that he believes the industry will continue to crash before it begins to recover and stabilize over the next few years. The future of the Silicon Valley also received great attention from Pishevar when he stated that the area is merely an idea, rather than a stronghold of tech innovation. Pishevar believes that the decline of American-based startups is contributing to the negative impact of too few large companies holding the majority of the power.