In an unprecedented Tweetstorm, super angel investor Shervin Pishevar unleashed a barrage of harsh criticism on five of America’s largest high-tech entities, blasting them for their powermad dominance and stifling the ability of upstarts to create new business models and products.
In the crosshairs of Shervin Pishevar were Microsoft, Facebook, Apple, Alphabet (owners of Google) and Amazon. He called them “robber barons” who are “destroying one start-up after another.” The bottom line, he said, is that these companies are too large and powerful and should get the “Ma Bell” break-up treatment. The latter refers to the way AT&T was broken up by U.S. regulators because it had become a stifling monopoly.
Shervin Pishevar knows something about starting a small high tech company. He was the founder and creator of webs.com, WebOS, SGN and Hyperoffice. All that was just a beginning for Mr. Pishevar. As an angel investor he backed such behemoths as Uber, Airbnb and Tumblr and Uber Series-B. He later founded Hyperloop One and Investment company.
So when a guy like Shervin Pishevar blasts the Big Players for crushing new start-up companies, he speaks with the experience of a man who has “been there.”
Pishevar’s Tweetstorm went well beyond discussion of the Big Five. He also discussed the curious lack of inflation in the U.S. economy in recent years. He also offered opinions on the fate of Bitcoin, the cryptocurrency. He went on to offer dire predictions about Silicon Valley and even the stock market.
What does he think of the current high-flying stock market? Shervin Pishevar thinks it is overvalued and almost certainly due for a dramatic downward correction. He thinks the stock market could give back 6000 points. Part of the reason for that, he said, is volatility with bonds. He blames the central banks for using bonds too liberally to help stabilize the market.
He also said that Silicon Valley may soon lose its position as the world’s premier tech corridor. He called Silicon valley more of an “idea” than some kind of actual physical location. That means competition can arise from anywhere else on the globe.