Innovation fuels a capitalist economy. The United States has long been the world leader in innovation and it has led to many incredible products. The United States was at the forefront of developing the smartphone with all of its bells and whistles. But now Shervin Pishevar thinks that the tech companies that helped innovate so much of our modern lives have too much power.
In a recent Twitter rant, Shervin Pishevar points to companies like Alphabet, Amazon, Apple, Facebook and Microsoft as the five companies that hold monopolies over the economy of the United States. Each of these companies is based in Silicon Valley and he likens their monopolies to the one held by AT&T just a few decades ago.
Unfortunately, Shervin Pishevar suggests that these five companies are stifling innovation. Each of these companies buys up tech startups in order to squash competitors. They throw billions of dollars at companies like WhatsApp in order to suck up their innovations. This is bad for the economy according to the former head of Sherpa Capital.
His tweets also prognosticate the fall of Silicon Valley. He believes that innovation is not confined to a physical area. He believes that it is a borderless idea that will eventually come back to burn the big companies that call Silicon Valley home. Shervin Pishevar says that the Big Five companies are stifling innovation to such a point that they are blind to new ideas. This will eventually lead to their demise.
And these tweets weren’t the only negative bits of information to come out of Shervin Pishevar’s Twitter storm. And this tweet storm comes from one of the early investors in Uber which is based in Silicon Valley. He knows technology and the economy very well.
That’s why it is startling to read that Shervin Pishevar believes the economy is about to tank. Underemployment is now so deeply ingrained in the economy that markets will stagnate and eventually crash. One of his tweets suggests that stock markets will drop more than 6,000 points in the very near future. And this drop will drag the entire economy down with it.