Shervin Pishevar ranks among the most renowned technological venture capitalists in the country. He is the founder and CEO of Investment company, an early-round financing firm that has been behind the creation of companies such as Uber, Airbnb and Virgin Hyperloop. The latter company is widely considered to be one of the most revolutionary transportation firms that has come along in decades, creating a product that may ultimately rival the advent of jet air travel in importance.
Everything I said in Feb 2018:
“A panoply of concerns — like rising interest rates, uncertainty over the impact of the trade war with China and worries that the nearly 10-year bull market may be ending — set off a binge of selling.”
— Shervin Pishevar (@shervin) October 25, 2018
Aside from these monumental accomplishments, Shervin Pishevar is also a widely followed thinker on the economy, the world of tech and politics. He has a Twitter feed with more than 100,000 followers and is among the most influential thought leaders in Silicon Valley.
One of the topics that Shervin Pishevar has routinely hit on through his tweets is the generally poor long-term outlook for the U.S. economy. Shervin Pishevar has repeatedly pointed out that the entire U.S. economy is built upon consumer spending, with more than 70 percent of GDP tracing back to average Americans spending money at the retail level.
However, Shervin Pishevar has repeatedly warned that these consumer revenues are being put at hazard by continual declines in the total employment and wage levels of the country. For more than 40 years, says Pishevar, the American middle class has continued to shrink. Now, people who wish to maintain a middle-class lifestyle need to work more hours than ever. A large number of the former middle class has simply dropped out of that category altogether. And those who cannot maintain a middle-class lifestyle, by definition, cannot maintain middle-class levels of consumer spending.
At the same time, continued demographic shifts are favoring a future that looks more like a Central American squatter camp than mid-20th-century America. Shervin Pishevar expects continued declines across all objective measures of economic and social wellbeing in the United States. These include graduation rates, educational attainment, median wage, median household wealth, home ownership and just about everything else that one might associate with a developed country.
At some point during its intractable slide into third-world oblivion, the United States will become indistinguishable from a sea-to-shining-sea Sao Paulo favela.