Shervin Pishevar immigrated to the United States from Iran and became a successful venture capitalist who played a role in multiple tech brands’ popularity. He also co-founded Virgin Hyperloop One, a project that could heavily impact energy generation’s future. Recent shocks to the stock market caused him to begin a tweet storm that featured several highlights.
A Fall for the Dow
Though the Dow Jones Industrial Average was hiccuping during Pishevar’s early-February tweet storm, he predicted the situation would worsen throughout 2018. “I expect a 6000-point drop in aggregate in the months ahead. Here’s why,” he wrote. He then gave evidence supporting his position.
Suspect Financial Instruments
Shervin Pishevar aimed at several targets. An important one was exchange-traded funds. Pishevar decried, “These funds are intrinsically heavily leveraged and biased to low volatility and have gotten very popular in the last couple of years.” He also said that ETFs encourage the type of risk-taking that led to the Great Recession that began in 2008.
Silicon Valley Is No Longer a Place
Pishevar also turned his critical gaze upon America’s idea that it has a stranglehold on tech innovation due to Silicon Valley’s existence within its borders. He tweeted, “As I’ve said before, Silicon Valley is no longer a physical place but an idea that’s gone viral. Entrepreneurship is a movement. Borderless!” Further, he chided U.S. immigration policy, “While we build walls, both physical and cultural, to keep out immigrant talent, that talent doesn’t need to come here anymore.” Go To This Page for more information.
The Changing International Landscape
Shervin Pishevar then shared a news story about a team of 1,500 Chinese workers who constructed a train station in one night. “Meanwhile, our infrastructure is in tatters, decrepit and decaying. Our government and companies are trapped in short-term thinking,” he wrote.
Shervin Pishevar has warned the U.S. about its economic troubles. To fix those troubles, U.S. leaders most heed his words.
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