The founder of Sherpa Capital, Shervin Pishevar, is back on Twitter. What is being described as a tirade, he released a storm of tweets that lasted 21 hours that predicted the decline if the U.S. economy. This was the first time Shervin Pishevar has used this social media channel in a long time.
He predicted Bitcoin would drop in value. He said it would drop in value to about “5K” before stabilizing and eventually rising again, although at a slow rate. Other predictions included a drop in the stock market, a discussion that included more than a dozen tweets. Shervin Pishevar said it would fall by 6,000 points as a result of increased interest rates, rising credit account deficits and tax cuts without matching cuts in benefits. He wrote about 22 tweets (including an item announcing a dinner break) regarding the pending drop and said volatility is just one sign investors will seek the safety of gold over the stock market.
One factor influencing market volatility is indecision in Washington, according to Shervin Pishevar. The announcements of trade deals are causing much of the turbulence and he predicts the bond market will attempt to rescue the economy but will fail.
Shervin Pishevar went on to unleash a number of other theses that followed a coherency that reflects his train of thought. Among the predictions was Silicon Valley’s loss of control as the stronghold of tech innovation. He refers to immigrant talent, which does not have to choose Silicon Valley because entrepreneurship is “borderless.” Thus California is no longer the go-to for new tech. Another prediction is that China will move ahead with the ability to do things like construct a train station in nine hours while “our” infrastructure is in “tatters.” He also predicts there’s not enough room for new startups as large companies like Amazon take over the economic landscape.