Shervin Pishevar hails the advent of nomad capitalists

Shervin Pishevar is one of the most widely followed venture capitalists on Twitter. He currently has a following of more than 100,000 people, making him one of the most widely read venture capitalists across the globe. With a focus on the development and financing of tech startups, Shervin Pishevar has been responsible for the creations of some of the most famous and profitable companies in the world. Projects on which he has played a critical role include the founding of Uber, Airbnb and Virgin Hyperloop.

But to those who read him regularly, it may seem that Shervin Pishevar has his first passion with economics and geopolitics. He regularly shares his learned opinions with his followers on social media. And one of the topics upon which he has frequently expounded has been the coming advent of an entire class of nomad capitalists.

States better hang on for their lives

Shervin Pishevar points out that the world of entrepreneurialism and business in general is becoming much more of a globalized affair. Increasingly, extractive states with punitive taxes — the United States being a chief example — are finding themselves in a global competition to attract and retain talent, just as occurs in any other business. One of the biggest problems, Shervin Pishevar says, is when national governments levy dizzying tax levels in order to finance things that don’t directly create any tangible public good.

The place where this is most obvious is in the area of paying entitlements and interest. Entitlements, like pensions, Social Security and food stamps, create no tangible benefits for current taxpayers. These are straightforward and simple wealth transfers. When the capitalist class of dynamic entrepreneurs and talented businesspeople see that their hard-earned money is being stolen from them and siphoned into unproductive pursuits, they become far likelier to throw up their hands and change venues.

Shervin Pishevar says that inventions like cryptocurrencies will only accelerate the trend among the capitalist class to flee punitive tax regimes and go where they are more appreciated and better treated. Ultimately, this could create a talent-drain spiral that could end in something akin to Zimbabwe for the tax-pig states.

https://www.huffingtonpost.com/author/shervin-pishevar