In the early days of February 2018, the US stock market made a major drop and erased all the gains made in the first month of the year. At the same time, prominent venture capitalist Shervin Pishevar made at least 50 successive tweets on the financial future of the United States among about financial related topics. He touched on globalization, entrepreneurship, bitcoin, bond market, among others. Shervin Pishevar is the co-founder of Virgin Hyperloop as well as the former managing director of Sherpa Capital He’s also a prolific investor who believes in supporting brilliant startup ideas so that they can grow. He has invested in companies such as Uber and Airbnb which have today and into multi-billion-dollar businesses.
The tweets by Shervin Pishevar came at the most opportune time. It was a time when every economic indicator was pointing towards a decline in economic performance. Inflation, government debt, and rising interest rates were all taking place at the moment. All these are potential indicators of hard economic times in the future. At the same time, the government enacted a new policy that introduced a new tax regime that would see corporates enjoy massive tax cuts. With all these factors coming into play at the same time, Pishevar could not help but wonder when the markets would head for the ditch.
Shervin Pishevar went on to explain that the losses recorded by the stock market in February were just the beginning of a long journey to the downside. He was expecting this stock market to lose over 6000 points in the coming months. He believed that the loss would be enough to erase the gains made in recent times.
As the co-founder of Sherpa Capital, Shervin Pishevar has had an opportunity to work with many businesses and hand-picked some of the best Silicon Valley winners that have gone ahead to become tech giants. From his portfolio, it is clear that he is not just an investor but a clairvoyant who is ready to see brilliant ideas succeed. He is therefore not a person who can be disregarded whenever he makes a point related to the performance of the economy or any other financial related matter.