A lot of economic predictions were made on February 5, 2018, during the 21-hour tweetstorm of tech investor Shervin Pishevar. There were a total number of 50 tweets about his concerns and warnings for America’s economic future.
His tweetstorm started with a forecast on a 6,000 drop on the stock market. An increase in national debt and interest rates will be the cause for a financial storm. Even though this is one man’s opinion, it was made clear that Shervin Pishevar’s opinion is highly valuable. In addition, the decline in the bond market made him believed that the bull run of bonds has come to an end.
Shervin Pishevar predicted that “gold will rise in response.” He also believed that the era of Bitcoin crash is not over as he predicts that Bitcoin will have a steady incline after which will proceed to decline to the $2,000 – $5,000 range. He also tweeted “the era of cheap money is over,” as a comment on the trends that he noticed – inflation spread, stock markets crashing, underemployment, and more.
In addition to Shervin Pishevar tackling the Underemployment Phenomenon, he claims that this is a neglected issue in the United States. People who are overqualified, educated, and skilled are forced to take lower-paying jobs.
Shervin Pishevar truly made a name for himself at Silicon Valley which is why he predicted the end of Silicon Valley in his 21-hour tweetstorm stating that “Silicon Valley has lost some of its competitive edge against competing zones of innovation.” However, he pointed out that Silicon Valley may have a better chance of growing outside the border. He commented on how the tides are shifting toward globalization. Silicon Valley will lose its appeal as the skills required to make Silicon Valley more influential again is beyond the border.
Shervin Pishevar tweeted that he no longer believes that innovation is tied to a physical place. He claims that innovation can present itself in different forms. In addition, he used an example of how China has a higher speed of execution as they can build a train station in just 9 hours. He explained in his tweet that American infrastructure will become problematic because the government, as well as the companies, think only in short-term.