Tweetstorms can be an infamous rant filled with incoherent information and proclamations. However, when noted Silicon Valley executive Shervin Pishevar went on an incredible 21-hour tweetstorm, people took notice. Below are some of the highlights of the tweetstorm that offer some eye-opening predictions about the financial markets as well as the economy.
The Dow Will Fall 6000
The first prediction in the Shervin Pishevar tweetstorm was a radical prediction that the Dow Jones Industrial Average will fall 6,000 points. At the time of the prediction, the Dow was sitting at around 25,000 points. Therefore, this prediction would mark an over 20% crash in the average.
Volatility Coming To The Bond Markets
The next set of predictions has to do with the bond markets. Specifically, Mr.Pishevar predicted that the bond market will experience volatility after years of relative calm. This volatility will carry over to the equity market.
Bitcoin Will Continue to Crash
The next set of prediction has to do with the popular subject of Bitcoin. Mr. Pishevar predicts that the cryptocurrency will continue to crash with a price target of $2000 to $5000. At this price, Mr. Pishevar predicts that the price of the cryptocurrency will stabilize and then begin a slow rise over the next 24 months.
Silicon Valley’s Dominance Is Over
Perhaps one of the most eye-opening sets of predictions has to do with the future of Silicon Valley. Shervin Pishevar predicts that Silicon Valley’s days as the center of technological innovation is over. Mr. Pishevar believes that Silicon Valley will find growing competition from other innovation zones. Additionally, Mr. Pishevar sees Silicon Valley becoming a more borderless concept.
The United States Will Fall Behind With Infrastructure
Mr. Pishevar believes that the United States is falling behind in the infrastructure race. In particular, Mr. Pishevar mentioned that China was able to build a train station in 9 hours while the infrastructure in the United States is falling apart.
Finally, Few Silicon Valley Giants Hold Too Much Power
Shervin Pishevar points out that the biggest Silicon Valley companies have too much power. Specifically, Shervin Pishevar mentions companies such as Apple, Alphabet, Amazon, Facebook, and Microsoft which he believes are suffocating smaller start-ups. Mr. Pishevar predicts that these companies may be broken up.