On February 6, 2018, Shervin Pishevar took to Twitter to express the deep concerns he has regarding the US economy. He made sent out 50 tweets that predicted some pretty dark days ahead for the stock market, big US companies, and even bitcoin.
Shervin Pishevar is well-known in the Silicon Valley area as a super angel investor. He was a strategic advisor to Uber and help co-found a venture capital fund that invested in Airbnb and Uber. In December 2017, he announced his resignation from that venture capital fund. That was the last time he used twitter. So his tweet storm came as a big surprise. Obviously, the axles in his mind continued to turn and were let out all at once.
“In an age when a startup like Brandless can gain serious traction, P&G investors have got to reconsider what it means to be the world’s largest consumer-products company.” cc @brandless @TinaSharkey @idoleffler https://t.co/oz5x4hhqXm
— Shervin Pishevar (@shervin) March 30, 2018
On February 5, 2018, the day before Shervin Pishevar’s tweet storm, the US stock market experienced a dramatic drop. In fact, it is one of the most stomach-turning drops that has happened in recent memory. Shervin Pishevar is especially concerned about more slippage in the market, mentioning that he feels it will go down 6,000 aggregate points over the next year. He feels that with all of 2018’s gains forgone, 2017’s gains will be gone in a short matter of time as well.
Another point that Shervin Pishevar mentioned is that Silicon Valley is no longer what it used to be. It used to be a stronghold on ideas and talent. Now it is an idea that has gone viral. The movement of being an entrepreneur is now borderless. He even gave an example of individuals in China working together to build a train station in just nine hours. His basic point is that the American economy is not alone. And while this may be good for other countries, it is not good for short-term domestic growth in the United States. He feels that under this administration, no one should feel confident in any talk of the US economy growing.
The notions that Shervin Pishevar expressed on Twitter are ideas he has expressed in the past. With a more open society, there will be less volatility and not as many bottlenecks on innovation.