Adam Newman WeWork notoriety, is returning to the real estate game, this time to “disrupt” the housing market. A billionaire is launching a new company aimed at somehow addressing and capitalizing on the US housing crisis (though details are scarce at the moment).
Whatever the actual idea, a startup called “Flow” has already proven attractive enough to attract one of Silicon Valley’s biggest investors. Andreessen Horowitz — Facebook, AirBnb, Twitter, his OpenSea on NFT platforms, Clubhouse, and Many other— invested $350 million in Flow, according to report From the New York Times. The huge investment means that Flow’s valuation exceeds his $1 billion before the startup even launches.
“Adam is a visionary leader who revolutionized commercial real estate, the second largest asset class in the world, bringing community and brand to an industry that never existed before,” said Marc Andreessen. is writing Company blog post announced an investment.
“We understand how difficult it is to build something like this, and we love to see repeat founders build on past successes by growing from lessons learned. For Adam, successes and lessons abound, and we are thrilled to join him and his colleagues on this journey of building the future of living. is one way through WeWork.
To put it another way, he billed the basic office leasing company as a visionary technical idea, which he appreciated. $47 billion,and, $1.7 billion buyout the whole inevitably crashed and burnedAndreessen Horowitz did not immediately respond to Gizmodo’s request for comment.
Note: Neumann and Andreessen Horowitz already teamed up earlier this year for Flowcarbon, a similarly named and seemingly unrelated crypto carbon credit venture. another bag of worms).
The flow has not yet started and Associated web domain It simply says “come in 2023” with no further information on what the company plans or will do. But Andreessen Horowitz’s blog gives some hints about the company’s focus.
This post summarizes the problem of increasingly affordable mortgages, renters spending money without getting anything in return, lack of community investment, and ways of c.The ovid-19 pandemic has changed society’s view of remote work and where people live. “The world of residential real estate will have to deal with these changing dynamics. But no aspect of the modern housing market is prepared for these changes,” she wrote Andreessen. I’m here.
Fun Fact: This billionaire investor often professes to go all-in on himself, more development As a way to combat rising housing costs, Andreessen personally (and quite aggressively) petitioned his own city council. Deny Multi-Family Rezoning.
Meanwhile, according to the NYT, Neumann has purchased more than 3,000 apartments in Atlanta, Nashville, Fort Lauderdale and Miami, which will be part of the startup. “His aim is to reimagine the residential rental market by creating branded products with consistent service and community features,” The Times wrote. directly operates 3,000 units of , and also “serves” other developments.
So, WeWork came up with planned community and property management. Or maybe it’s a cult compound. Or maybe it’s just a well-equipped apartment building. Perhaps it has something to do with the app. A true revolutionary one. But who in Gizmodo will say what is or isn’t a sound investment.