When Shervin Pishevar set out on Twitter to highlight some of his thoughts about the US economy and other financial related matters, he expressed some deep issues that need to be looked at for the economy to thrive. In 50 messages, he outlined what he thought was wrong with the economy and the financial industry as a whole. In his opinion, the country was suffering due to mistakes made by those in positions of leadership in the government as well as those in the private sector. In tweet storm that lasted 21 hours, Shervin Pishevar made it clear that the future looks dull for the US economy. In his analysis, indications of a financial storm have been triggered, and it is only a matter of when for the storm to take shape. Already the New York Times has reported that major investors are selling off their assets to avoid losing in the financial storm that is beckoning.
Apart from the performance of the US economy, Shervin Pishevar also took that opportunity to talk about other factors such as the performance of the cryptocurrencies. In his opinion, bitcoin and other cryptocurrencies should be supported as they stand separate from the centralized banks. He says they will bring a perfectly efficient and frictionless trading environment. However, he maintained that bitcoin would not support the high prices that it recorded at the end of 2017. He predicted that the prices would fall until they reached the $2-5k range.
Shervin Pishevar also highlighted the shift in the position of Silicon Valley as the most important innovations hub in the world. According to Shervin Pishevar, the United States is building walls to prevent immigrant talent from having an opportunity to grow in the country. He thinks that this is a wrong decision that the country is taking since it will work against them. In his prediction, the idea of Silicon Valley is no longer about a physical place and but an idea that is being implemented in almost every country around the world. Shervin Pishevar was part of the Obama administration that created a proposal in the form of the Startup Visa Act that was intended to allow immigrants talent into the country. He is of the opinion that immigrant talent no longer needed to come into the United States since the idea of the Silicon Valley has been devolved to other parts of the world.
It takes a courageous person to criticize the government head-on and explain their dissatisfaction with most of the policies that the government is implementing. Shervin Pishevar has been that person who does not hide his feelings concerning how the government has been conducting itself in recent times. In his 21-hour twitter explode, that was sometimes interrupted by dinner, Shervin Pishevar has pointed out some of the significant economic policies currently being implemented by the government that he is not convinced such strategies will work.
Shervin Pishevar cannot understand why the arguably largest economy in the world cannot accept people with knowledge and skills to live and operate in the country. What worries him the most is that the government has chosen to erect fences in a bid to keep out all people and their endeavors out of the American economy. This is a wrong policy and should not be accepted by the members of the public, as it is geared towards separating the economy from the rest of the world. There is a possibility that America will produce its goods and consume them by itself.
The idea of American exclusivity cannot work in this era. Shervin Pishevar notes that the American government wants to protect its technology but forgets that other nations have significantly invested in technology as well. He highlights that the idea of Silicon Valley is an illusion as the world by itself is becoming a Silicon Valley. He notes development in China, European countries, and the upcoming African countries with much capacity than people though.
It is clear that Shervin Pishevar wants the economy to be open to all individuals who wish to operate and reside in the United States. It is not wise for a nation to exclude itself from other countries around the world and expect to survive. Therefore, it is high time the current administration opens the borders for a border-less world economy rather than closing the borders for people who have grown the American economy.
Sahm Adrangi is the Chief Executive Officer of Kerrisdale Capital. In a surprising turn of events, the CEO has issued a negative report relating to the prospects and performance of Eastman Kodak Company. Adrangi says that KodakOne and KodakCoin are smokescreens that will be blown away soon. The Kerrisdale executive does not mince his words relating to the developments in which Eastman Kodak has seen its shares rise by over 187%. Adrangi cautions that the spike in the shares owned by Kodak is not based on facts but mere hype. Mr. Sahm Adrangi, further, observes that Kerrisdale holds a short position in the company and is set to gain; if Kodak fails as it is expected in the near future.
The Negative Report
The Kerrisdale Capital CEO says that Kerrisdale Capital is sure of smiling its way to the bank owing to the mistakes that EKC has made. In a report issued vial CNBC, the CEO points out that the recent rise of EKC shares are baseless, and termed them as hot air. EKC offers printing and imaging services to commercial clients across the globe. Prior to the rise in share prices, Eastman Kodak had announced a partnership in which it was seeking to launch an image licensing cryptocurrency platform powered by blockchain technology. In the CNB report, the Kerrisdale official says that the whole venture is not but smoke and mirrors.
How Eastman Kodak Will Be Affected
According to the CEO of Kerrisdale Capital, Sahm Adrangi, and the company in general, the concept that Kodak was selling regarding KodakOne and KodakCoin was a hoax, and that the two entities were unlikely to give Kodak customers a return for their investments. Pundits say that if the prediction by the Kerrisdale team does come to fruition, Kodak will be subjected to a rude shock for its business. Mr. Sahm Adrangi clarifies that since his company holds a short position, they stand to gain from the backlash and failure by Kodak to deliver on its promised business ventures.
Kerrisdale Capital is a private equity services provider and an asset and investment manager in the USA. Kodak announced that it was launching a blockchain enabled licensing platform and a cryptocurrency. Kerrisdale says it does not believe, even for a second, what EKC are saying. Kerrisdale Capital specializes in long-term investments and an opportunistic venture at situations that are catalyzed by certain events. Although Kerrisdale has nothing to lose, it highlights that the practice demonstrated by the senior management at EKC is worth investigation by the SEC.