Over a period of 21 hours, no less than 50 Tweets issued forth from the account of Shervin Pishevar, super angel investor and Silicon Valley legend. What all of those Tweets had to say created something of a media sensation. Part of the reason for that is that when Shervin Pishevar speaks, people listen. But also, what he had to say was often remarkable.
Take, for example, the way Pishevar unloaded on the famous business corridor that made his career — Silicon Valley. Mr. Pishevar said he thinks the best days of this California tech hub are behind it. He said that Silicon Valley has become more of an idea rather than a solid entity where big things have happened. Competition can now come from anywhere in the world as other global entities invest in and ramp up new centers of innovation.
Shervin Pishevar also discusses an issue that has been smoldering among social observers and economists. That issue is the growing trend toward underemployment. Pishevar noted that, more and more, people with high tech skills are finding fewer employers willing to hire them full time. Because of that, many folks with unique and valuable skills find they must work at other, more mundane jobs to make ends meet.
The value of stocks were another subject Shervin Pishevar expounded upon in his Tweetstorm. He put forward a rather dim forecast. The market is vastly overvalued, Mr. Pishevar said, and that we can expect a very significant downward correction. He mused that the stock market could drop by as much as 6,000 points before all is said and done.
He had similar warnings for the cryptocurrency Bitcoin. It also is wildly overvalued, Shervin Pishevar Tweeted. He thinks it will undergo a precipitous plunge in value, but also may stabilize at $2,000 to $5,000. Even so, Pishevar said he likes the idea of Bitcoin because it is a “stateless currency” and offers a unique financial vehicle entrepreneurs can leverage for startup opportunities.
A wide range of other topics were addressed by Shervin Pishevar in a Tweetstorm that has had wide-ranging consequences and produced considerable discussion.