Shervin Pishevar tweetstorm predicts volatile markets, startup declines
In February, Uber investor and Investment company founder Shervin Pishevar went on a 21-hour tweetstorm that some called bizarre and others found prescient. In that time, Pishevar ran through predictions of a plummeting stock market and declining Silicon Valley, predicted the infrastructure of the United States would continue to disintegrate and argued that tech giants would strangle startups.
Known for his strong opinions, frequently expressed, it was no surprise that he wasn’t shy about sharing them, but the intensity and content of them surprised some people.
Pishevar predicted a 6,000-point drop in the market and a continuing decline for the value of bitcoin that would be matched by a surge of interest in gold again. However, he also said that bitcoin would stabilize and start to rise slowly again over a two-year period.
While he felt that Silicon Valley had lost its preeminent place in the tech landscape and that location was less important in contemporary entrepreneurship, he also predicted that any startups would have a tough time competing against giants like Google, Microsoft and Facebook. Shervin Pishevar compared them the phone company monopoly before its government breakup and predicted that it might be a long time before any companies like Airbnb or Uber would make their mark again in the years ahead.
Pishevar also said that the failure of the United States to move quickly or think long-term about infrastructure would be its undoing. He cited the example of a train station in China that was built in just nine hours. Pishevar said he believed that only a few U.S. companies, such as SpaceX, would thrive.
Was he correct? A couple of days after Shervin Pishevar made his predictions, Dow Jones plummeted over 1,000 points. As for the rest of his predictions, their accuracy remains to be seen. However, it is worth nothing that Pishevar savvy in predicting trends has made him a success in business so far.