Shervin Pishevar is one of the best-known venture capitalists inside Silicon Valley. The founder and CEO of Sherpa Capital has been intimately involved in the creation of some of the most noteworthy names in the tech field, including Virgin Hyperloop, Uber and Airbnb. He has also founded a large number of businesses as an entrepreneur in his own right. Some of these include WebOS, Ionside and Social Gaming Network.
Despite his workaholic schedule, Shervin Pishevar still somehow finds time to operate one of the most widely followed Twitter accounts in Silicon Valley. With more than 100,000 followers, when Shervin Pishevar tweets, he has the ear of some of the most influential people inside and outside of the world of technology.
Recently, Shervin Pishevar engaged in a nearly 21-hour tweet storm. In it, he spoke on a broad variety of topics. One of those is his view that the world of independent coin offerings, also known as ICOs, is fully corrupt and a danger to all investors.
Shervin Pishevar says that ICOs lack almost all of the protections normally associated with the initial public offerings of stock. He believes that it is only a matter of time until the SEC cracks down on these offerings of new coin mintages due to the fact that they so closely resemble in form and process the machinations of the initial public offerings of stocks. In fact, Shervin Pishevar has stated publicly that he believes that coin security tokens are themselves securities. If this proves to be right, then it means that every ICO has been in violation of SEC regulations and U.S. securities law. This, says Pishevar, could spell disaster for everyone who has profited up to now from the issuance of new cryptocurrencies.
From the standpoint of potential investors in future or current ICOs, Pishevar warns in the strongest possible terms that they should absolutely stay away. He says that the likelihood of an eventual SEC crackdown on at least some aspects of the ICO practices that currently prevail is a near certainty. When that time comes, says Pishevar, those who have profited from these transactions could be in a world of hurt.