When venture capitalist Shervin Pishevar went on a tweet-storm early this year, he revealed a lot about the US economy and the financial sector as a whole. He started by saying that the US economy would decline in the future unless some serious steps are taken to combat the problems facing the country. He predicted that the stock market would lose by 6000 points, a good indicator that the economy was not doing well. Performance of the stock market is directly tied to good economic performance in the country. According to Shervin Pishevar, it is not only the stock market loss but also the bond market.
Shervin Pishevar took to Twitter for a 21 hours outburst. In one of the tweets, he posted about the future of bitcoin. He pointed out that bitcoin will be of great benefit in the financial sector and its value will go up significantly in the future. However, before gaining again, it will go down to the $2-5k range. He also added something about gold. In his analysis, gold will gain value as the economy deteriorates. Since gold is considered a haven, investors will put their wealth in the metal.
As a long time entrepreneur in Silicon Valley, Shervin Pishevar had something about the future of the most advanced innovations hub in the world. Surprisingly, he has no kind words. By his prediction, Silicon Valley has lost the glory it once enjoyed. In fact, Silicon Valley is more of an idea than a physical location. The idea has been adopted by other countries, meaning that the best ideas in the world need not come to the US anymore. Some countries are offering real competition in this area. China is doing very well and could easily surpass the United States.
Shervin Pishevar was part of a team that was tasked with the responsibility of creating a bill that would allow migrant talent into the United States. The bill failed to go through the Congress, something Pishevar describes as a mistake. The dwindling fortunes in the Silicon Valley are linked directly to some of the decisions that have been made such as the failure by the Congress to pass the bill. The bill would allow immigrant special talent visas to the United States.