In what can only be described as a scarily accurate glimpse into the country’s economic future, Shervin Pishevar took to Twitter in February to share his most bold predictions about the fate of the U.S economy. He tackled some of the most complex issues on the country’s economic horizon and made no effort at all to temper his predictions.
According to Shervin Pishevar, there are five giants in the tech industry that are completely dominating the field and making it practically impossible for any startup to hope to get off the ground successfully. He thinks that we will soon face a situation similar to that of the telephone company monopoly in the 1980s. He sees the only reasonable solution involving some sort of government intervention to break up the hold that these tech companies have over the entire industry. In the meantime, other countries will start to outpace the U.S. in terms of tech innovation because they have fewer barriers to competition in the tech market.
In terms of geography, Shervin Pishevar does not think that Silicon Valley will continue to dominate the space for tech innovation that it once did. Now that young entrepreneurs can access talent from anywhere in the world, there is no longer a demand for people to continue to work in Silicon Valley for the tech industry.
Even though the consensus is that the Fed will continue to raise interest rates over the next few quarters, Shervin Pishevar accurately predicted that consumer inflation is low. He noted that prices are not on the rise as one would expect and that trade deals will unnecessarily alarm most people about potential inflation.
Background Information on Shervin Pishevar
Ever since graduating from the University of California, Berkeley, Pishevar has been a force to be reckoned with. He is an angel investor and philathropist who founded Hyperloop, Sherpa Capital and Sherpa Office. Pishevar was named an Outstanding American by Choice and was awarded the Ellis Island Medal of Honor. He is also broadly recognized as being one of the first visionary investors in Uber.