After not sending anything out on Twitter in over two months, Shervin Pishevar took to this social media platform to make some gloomy predictions concerning the US economy. His twitter rant lasted 21 hours. He made 50 points about why he felt the stock market would drop, why big companies would experience a fall, and why financial and governmental institutions would soon experience irrelevance.
— Shervin Pishevar (@shervin) May 10, 2018
Shervin Pishevar is the former managing director of Investment company and the former executive chairman of Hyperloop One, both of which he helped to co-found. He has started other companies including HyperOffice and WebOS. Not only has he had success as an entrepreneur and investor, but he has received recognition and has been awarded by the US government. Former Pres. Barack Obama appointed him to the J. William Fulbright Foreign Scholarship Board. He is part of a committee that decides which young Americans will receive Fulbright scholarships.
Because of the success he has had in business and because of the recognition he has received from respected organizations, many felt inclined to listen to his predictions. His twitter storm created a buzz on social media. Additionally, he has predicted other crisis’ in the past, like the one Facebook went through.
Shervin Pishevar touched on many different topics throughout his twitter rant. He made some very dark forecasts concerning the US stock market, saying that he expected it to drop an aggregate 6,000 points. He feels that giant companies in the United States, like Apple and Google, are built on monopoly frameworks. He feels that they are going to experience a fall, at least in their influence. He also feels that big funds are going to bite the dust, like managed future funds. Whenever the stock market tanks, which it did on February 5, 2018, big funds crumble.
There was a small glimmer of hope throughout the tweet rant that concerned certain companies that Shervin Pishevar felt would do good. One of them is SpaceX. The other one he mentioned was Virgin Hyperloop One. However, this is a company he helped to start, so this statement may be taken with a grain of salt.