Shervin Pishevar ranks among the most influential figures in the world of technology. He has founded a number of high-tech firms himself, including such widely recognized names as Ionside, WebOS and Social Gaming Network. But it has been as the founder and CEO of Investment company that Shervin Pishevar has really made waves in the tech sector. His company has been responsible for the early round financing of companies ranging from Airbnb to Uber to Virgin Hyperloop. Investment company continues to be a force within Silicon Valley, fighting to create the next generation of disruptive startups.
In his limited spare time, Shervin Pishevar also runs one of the most heavily trafficked Twitter feeds in the tech world. He has more than 100,000 subscribers, including some of the nation’s foremost thought leaders and influencers. In a recent Tweet storm, Shervin Pishevar discussed his view that crypto currencies will ultimately be treated by the authorities not as a means of payment, but primarily as securities.
Major implications for those involved in ICOs
Shervin Pishevar points out that the recent flood of ICOs, short for initial coin offerings, has created a serious problem for the SEC. Because these offering so closely resemble the issuance of equity shares, Pishevar believes that the SEC will eventually be forced to declare cryptocurrencies to be a form a security. Should this happen, Pishevar warns, investors may be on the hook for serious civil liabilities and, in many cases, may be subject to having their assets seized as part of the compensatory process in criminal proceedings.
Pishevar says that many of the ICOs that have taken place will ultimately turn out to be toxic for those left holding the bag when the music stops. Should this transpire, Pishevar says that it is likely that the SEC and other regulatory and law enforcement agencies may seek so-called claw back from any early investors who profited from the ICOs. This means that the government could seize assets of those who have shown a profit on any ICO.