Shervin Pishevar shared something interesting on Twitter. He noted that DUI arrests dropped in one city after the arrival of ridesharing. Followers of the technology industry know why Pishevar posts about ridesharing. He was one of the original investors in Uber. His posting of the positives ridesharing delivers to communities shows Pishevar isn’t someone only focused on returns on investment. He wants to do good as well. In early 2018, Shervin Pishevar tried to perform a public service by engaging in a massive 21-hour tweet storm. The tweet storm attempted to be both informative and helpful. Controversy surrounds certain tweets, but the overall tweet storm was thought-provoking.
The tweet storm sent out several warnings. The tweet barrage took place in February 2018 and partially focused on worries about a potential 6,000-point stock market drop. While the market has yet to decline to that degree, the market isn’t doing well today. The market did continue to do well for months and months. Many likely dismissed Pishevar’s concerns. As the months turned into the fall, the market moved in a downward direction.
The stock market isn’t all that concerned Shervin Pishevar. He noted Bitcoin could suffer losses as well.
The Dow Jones drop of November 2018 featured a massive selloff of technology stocks. Tech stocks did well for an extended period, but they reached a tipping point. Shervin Pishevar, a technology industry venture capitalist and entrepreneur, shared his concerns about the “Big Five” technology companies in his legendary tweet storm.
Pishevar’s concerns center on the excess amount of power located in a mere five companies. Shervin Pishevar even suggests the government should look closely at taking anti-trust actions to deal with the top five companies. These tweets also turned out to be prophetic. Fears do exist in the tech sector about looming government action and regulations.