In February, the Dow was making huge moves that erased the gains made at the beginning of the year. At the same time, prominent angel investor Shervin Pishevar wrote a series of tweets on the financial status of the US economy among other issues. Shervin had a lot to say about especially on matters touching on the future of the US economy. Pishevar is an accomplished investor as the co-founder of Virgin Hyperloop One, Uber, Airbnb among others. His comments deserve respect since he is one of the best investors in Silicon Valley. He is the former managing director of Sherpa Capital, a position he held since December last year.
The tweets by Shervin came at a time when there were talks about inflation, interest rate hikes, credit account deficits and such things which are indicators of a failing economy. The economy would also suffer from the actions of the government to lower corporate tax. After looking at these issues, Shervin Pishevar predicted that the economy would lose. He predicted that the stock market would lose by 6,000 points. A few days after his prediction, the market had lost by 1,000 points.
Not everything in his tweet-storm was about the economy. He talked a lot about globalism as well. In his prediction, Silicon Valley was no longer the best place for innovations. In fact, it is no longer about the physical location anymore. According to Shervin Pishevar, everything has changed into an idea. Other countries have picked the idea of the Silicon Valley and are implementing the plans in their own countries. This shift means that innovators will no longer come into the United States when they can innovate in their countries.
By the time Shervin Pishevar was done with the tweets storm, he had sent out 50 messages discussing other issues such as cryptocurrencies and US monopolies.