In early February 2018, the US stock market experienced one of the most dramatic drops it has seen in recent times. This led to Shervin Pishevar letting loose a Twitter storm that lasted 21 hours and predicted some dark times ahead for the economy of the United States. He feels that in the months to come the stock market will go down another 6,000 points.
Shervin Pishevar is a philanthropist, investor, and entrepreneur. He made his fortune by investing early in Uber. Other companies he has invested in include Munchery, Airbnb, Tumblr, and Warby Parker. The US government chose him as an Outstanding American by Choice back in 2012. He is of Iranian decent. In the year 2015, he was appointed to the J. William Fulbright Foreign Scholarship Board by the then president of the United States. In addition to his experience, it seems that Shervin Pishevar is pretty good at foreseeing the future. He correctly anticipated the crisis Facebook would go through.
One of the points that Shervin Pishevar mentioned in his tweet rant had to do with the fact that Silicon Valley has lost its exclusivity. That’s not really a bad thing, but it is not something that is good for short-term economic growth in the United States. The strongholds on ideas and talent that Silicon Valley once possessed are no longer something to be relied on. The United States no longer has a monopoly on the entrepreneurial spirit and the backing for startups. Talented immigrants no longer need to come to the United States to get their ideas going. He cites an example of a team building a train station in China in under 10 hours.
Shervin Pishevar did mention some companies that he feels will inspire good work. Out of the decaying infrastructure of the United States, he feels that there are some moonshots that will inspire hope. One he mentioned is Virgin Hyperloop. Of course, this should be taken with a grain of salt considering he is one of the co-founders of this company. In order to experience a global economy everyone can enjoy, he feels that middlemen need to become irrelevant.