On February 5, 2018, Shervin Pishevar hit Twitter with a 50-tweet storm that caused a range of responses in the tech and investing marketplaces. He thoughts began with an ominous tweet.
A Downward Dow
“Some thoughts on financial storms I seeing brewing ahead. I expect a 6000-point drop in aggregate in the months ahead,” wrote Pishevar. In the 49 tweets that followed, he presented his case.
No Safe Investing Options
A long-time tech investor, Pishevar criticized several investment-world aspects. He tied his first tweet’s predictions to increasing debt loads, rising interest rates and tax breaks that are almost never accompanied by curtailed spending. Pishevar also critiqued the bond market, managed-future funds, exchange-traded funds and risk-taking loopholes that could lead to a repeat of 2008’s Great Recession.
Shervin Pishevar began his professional career as an early-stage tech-venture capitalist. He was a key player in Uber’s initial success, for example. For a decade, his inside knowledge of tech innovation has given him a consistent position that the United States mistakenly thinks Silicon Valley’s economy is headquarter within its borders.
“As I’ve said before,” he tweeted, “Silicon Valley is no longer a physical place but an idea that’s gone viral. Entrepreneurship is a movement.”
An Iranian American, Pishevar also dislikes current American immigration policy. He talked about the physical and cultural walls that the United States is building, which are inadvertently excluding talented immigrants, and he stated, “That talent doesn’t need to come here anymore.”
Further, Shervin Pishevar shared a news story about an amazing accomplishment in China. In one January night, 1,500 workers built a train station! “Meanwhile,” lamented Pishevar, “our infrastructure is in tatters, decrepit and decaying. Our government and companies are trapped in short-term thinking.”
Centralized Tech Power
Pishevar also decried the long-established trend of major tech players buying up or pushing out startups. “Small acquisitions are silent assassinations,” he remarked.
Shervin Pishevar’s words have been lauded and derided. For a better footing throughout the 21st century, American leaders should likely heed his words.