Shervin Pishevar has come out strongly to criticize the US economy. He believes that a steady decline is in the offing and Americans should brace themselves for time tough times ahead. For more on what the early Uber investor had in mind, let’s take a look at his elaborate Twitter rant – it went on for a full 23 hours.
In mid-December 2017, Shervin Pishevar chose to step aside from his position at the helm of Sherpa Capital. Damning allegations had been made against him and the reputation of the firm was at stake. He took to twitter to tender his resignation and stayed mum for the months that followed. He resurfaced in February on the same platform not to defend himself, as many expected, but rather to talk tough about the US economy.
He anticipates Bitcoin prices to hit a low of $2,000. The effects of the decline will however not last for long as he expects the prices to stabilize in due course. Investors in gold are likely to reap big from this state of affairs.
Shervin Pishevar is known for speaking his mind and he didn’t hesitate in making claims that the stock market will experience a 6,000 point drop. This would mark the beginning of a financial storm as the rest of the market including equities will be casualties. The uncertain responses from Washington to global trade deals inform these statements. The rate of underemployment is receiving no favors from the static economic system.
The Silicon Valley has lost its tech-appeal and Shervin Pishevar insists that other nations are catching up. The competitive zones are expected to spearhead the tectonic shift in the industry. Given that entrepreneurship knows no borders, China and the rest will soon gain the tech hub status. The ailing state of infrastructure in the country will take its toll on the technology of the US.
The monopoly of multi-billion firms did not amuse Shervin Pishevar. Speaking on the state of entrepreneurship, he insisted that startups would have a hard time getting on their feet. Facebook, Microsoft and Apple are among the heavy weights standing in the way of progress as far as he is concerned.
Only time will tell whether any of his assertions hold water.