Shervin Pishevar has been one of the most successful venture capitalists in the world of tech. He has founded many companies, including Social Gaming Network, Ionside and WebOS. He has also been one of the key players in the formation of such companies as Uber, Airbnb and Virgin Hyperloop.
But Shervin Pishevar is also one of the most vocal analysts of the state of the U.S. economy throughout the world of social media. Shervin Pishevar operates one of the most heavily followed Twitter feeds of anyone in the world of tech. And he has expounded on nearly every topic of national importance with an oratorical skill that has made him the center of attention among the Silicon Valley intelligentsia.
One of the things that Shervin Pishevar has repeatedly been warning about is the overvaluation that is currently seen throughout the United States in virtually every asset class. As a longtime resident of the San Francisco Bay Area, Pishevar has watched as real estate values have skyrocketed to stratospheric levels, making even the most basic housing throughout the region completely unaffordable for anyone not making a top-1-percent salary.
Pishevar says that, while this has been a generally positive development for those who bought and held property over the last two decades there, the long-term consequences may prove to be dire. The middle-class, the engine of the local economy, has been fleeing in droves for over five years. And, increasingly, young people are finding it impossible to form families, thus depriving the area of the most important source of consumer spending: middle-class families with children.
But Pishevar says that the asset bubble is hardly contained just to San Francisco real estate. He says that the equities and bond markets are also badly overvalued even at levels more inappropriate than those seen in housing. He says that, ultimately, the real problem that investors currently face is that there simply is no safe harbor. Even cash, which is put at risk by the threat of future currency-debasing actions of the Federal Reserve, is not completely safe. Pishevar says that investors may ultimately need to turn to offshore assets.