It’s not unusual for someone to log onto Twitter for a good, spleen-clearing rant. But when someone like Shervin Pishevar does it, it becomes a significant media event — even if people are somewhat confused about what it is he’s really talking about.
Shervin Pishevar is one of America’s most successful venture capitalists. He has backed some of the biggest business success stories in recent years. For example, he put his money into such iconic brands as Uber, Airbnb and Munchery. He is also the founder of webs.com, Hyperloop One, SGN and Hyperoffice, to name just a few.
Pishevar had gone through a period of silence on Twitter, then one day in February, the damn broke. Shervin Pishevar unleashed Tweet after Tweet writing about everything from the stock market and inflation, to the fates of Bitcoin and Silicon Valley.
As to inflation, Shervin Pishevar said it may be something we never have to worry about again. He correctly pointed out that many prediction about inflation rates made by top economists have failed to manifest in recent years. Pishevar said the United States has effectively found a way to “export inflation” through trade policy. Time will tell if he is right about this.
What about Bitcoin? Pishevar said this cryptocurrency is wildly overvalued and that investors should expect a tumble in price. On the other hand, Mr. Pishevar thinks Bitcoin will stabilize, perhaps at a value between $2,000 and $5,000. He also has positive instincts about the future of cryptocurrencies. He said he likes the fact that this form of wealth is “stateless” and will enable new investors to leverage cash more easily for future start-up ventures.
Mr. Pishevar Tweeted dire news for California and Silicon Valley. He opined that the era of technology dominance for this geographic location will soon be over. He said that Silicon Valley has become more of an “idea” than an actual, distinct entity. That means competition from all points on the globe may topple the once powerful center of high tech innovation, he suggested.
What are we to make of it? Perhaps it doesn’t matter. A year from now it will be easy to test the accuracy of the strange Tweetstorm of Shervin Pishevar.