Feathers are being rustled by the recent 21-hour onslaught of predictions for the business world on Twitter by early Uber investor Shervin Pishevar, who also stepped down from Sherpa Capital following accusations of sexual misconduct. The venture capitalist himself was once held in high regard, but eyebrows were raised when he came out in a tempestuous flurry of comments about the downfall of the U.S. economy. It remains to be seen if Shervin Pishevar is simply hot under the collar after leaving the company that he founded or if there’s merit behind his forecasts.
Here are some of the statements he had to share during his nearly one-day series of rants:
- Bitcoin will suffer a stock value loss of between $2,000 and $5,000 but will see a slow recovery over the following two years. In response to this, the value of gold is expected to go up.
- Partly as a result of this, the stock market as a whole will supposedly suffer a 6,000-point drop in the coming years. The volatility in bonds will cause ripple effects that adversely impact other markets around the world, not just the US.
- Silicon Valley will die off as a location and live on as an impervious concept that exists everywhere. This is explained differently as California having lost its innovative edge on the computing market.
- China’s infrastructural horsepower exceeds the US’ by a long shot, and as cited by Shervin Pishevar, China “built a train station in just nine hours”. In the US, a similar endeavor would take several months to well over a year in most localities.
- The exception to China’s leverage over the US is none other than Elon Musk and his SpaceX and Virgin Hyperloop One projects as these should be seen to fruition in time. Shervin Pishevar notes that both of these projects will be met relentlessly by derision until they become a reality.
- Only the largest companies will be allowed to continue as the much smaller startups become few and far between, each new innovation being eaten up or shut down entirely by the larger companies.