To the delight of financial analysts and investors everywhere, Shervin Pishevar recently took to Twitter to dish out some of his more insightful predictions about the future of the U.S. and global economy. His tweet storm was the subject of widespread discussion in financial circles because many of his predictions have already proven themselves true. Given his background as one of the initial investors in Uber and his many successful business ventures, Shervin Pishevar is exactly the type of person to pay attention to when he is willing to share invaluable insights on currency, markets and the future of tech innovation in the U.S. and abroad.
He had plenty to say about Bitcoin, one of the most well-known and volatile forms of cryptocurrency. Although he believes that there will be an short-term dip in its value, Shervin Pishevar acknowledges that cryptocurrency is here to stay and will be more widely accepted in the near future. He does not necessarily think it is a bad investment because it is sure to bottom out sooner rather than later.
In terms of other investments, Shervin Pishevar advises that the next major tech superstar is unlikely to come out of Silicon Valley. Those looking for start-ups to invest in would be wise to cast their gaze beyond the U.S. because Shervin Pishevar thinks that online platforms will provide opportunities for innovators away from Silicon Valley, which was once the pinnacle of tech innovation. He also thinks that the rest of the world will soon surpass the U.S. in terms of the breadth of tech innovations because there are five major tech companies in the U.S. that are making it too difficult for start-ups to compete. Shervin Pishevar attributes the lag in U.S. innovation in part to the government’s unwillingness to institute effective regulations that would curtail the dominance of the current U.S. tech giants. Ultimately, he warns that the current state of regulation in the tech industry means that it is nearly impossible for another company like Uber to emerge without a major shift in legislation to benefit the common good and restrict tech monopolies.