Shervin Pishevar was an early investor in Uber. Uber is one of the most innovative companies in the country today. The company has completely transformed transportation in various cities.
Shervin Pishevar has built considerable wealth from his investment in Uber. He is also a co-founder and former executive chairman of Hyperloop One and a co-founder and managing director of Sherpa Capital, However, he is worried about the future of the economy. He tweeted for 21 hours straight about the future of the economy. He believes that the economy is eventually going to collapse in the United States. Shervin Pishevar has several reasons for this viewpoint. He also believes that large technology companies are going to collapse as well.
One of the biggest reasons that Shervin Pishevar gives for the downfall of the economy is the national debt. The United States has the largest national debt in the world. Although the deficit was starting to decline, the new budget passed will increase the deficit greatly.
As interest rates increase throughout the world, increasing the national debt will be much more costly than in the past. Shervin Pishevar strongly believes that government leaders must do something about the national debt before it is too late. There are numerous examples of countries where the national debt led to the collapse of the economy.
Shervin Pishevar also predicted that almost every asset class would decline in value this year. However, he believes that gold will increase in response to the economic volatility. Over the past few years, gold has been declining due to the positive economic news. As a general rule, gold moves in the opposite direction of traditional asset classes.
He believes that investors who have capital in traditional assets should consider moving their money to gold.
Stock Market Drop
He also made a prediction that the stock market would collapse in 2018. At the start of the year, the stock market was increasing quickly. However, the stock market recently experienced a violent drop. Many investors are worried about escalating interest rates. More volatility should be expected in the months ahead. There are numerous people who believe that the great run in the stock market is over. See Related Link for more information.