Will Adam Neumann Fail Again? ($1 B Value, No Product!)

[@samaeltheundying]

Having this dude influencing the housing RENTAL market and in my everyday life sounds like a dystopian nightmare.

[@Dac_DT_MKD]

Everything is a dystopian nightmare to you people.

[@minyaksayur]

with a rising interest rate, his investors are downward stupid.

[@PlayedbyInstinct]

@@Dac_DT_MKD to people on youtube..?

[@5daboz]

Grim gets dark.

[@hoangle2483]

@@Dac_DT_MKD Adam's WeWork disaster was well documented. Not only that, that dude's behaviors were far from ethical and got heavily reprimanded by the finance and start ups communities. It's natural for everyone to feel skeptical about this investment.

[@goranagar4010]

Also, "Disrupting the future of Living" probably means to Adam that instead of $270,000 dollar homes going for $520,000 they should be at least $850,000

[@christinewatson1989]

"Disrupting the future of living" sounds ominous as hell.

[@pieflies]

Disrupting the ability of the general public to be able to afford their own house.

[@lbgstzockt8493]

@@pieflies sounds like the market is already sufficiently disrupted.

[@jamieferguson935]

Your house price is only double there? Wow you have got it lucky.

[@bloodaid]

Did you say $1.3 million? Got it, $1.9 million.

[@aromagrande1914]

This company resonates exactly with "you will own nothing and you will be happy"

[@k9killer221]

Exactly. This is pod world being implemented and that AZ16 company knows it.

[@lynchjl]

No coincidence there I'm sure!

[@mattbray_studio]

exactly what i thought, they know this is a market ripe for investment and disruption

[@user-fk8zw5js2p]

"you will own nothing and pay for everything to be done for you and you will be happy because we own your money too"

[@johnmaris1582]

Most people didn't own a farm, steel mine, tech factory, soap chemical plant and etc... Yet most people can get this product easily at affordable price. Private ownership is good but it's a mean to an end for efficiency and productivity, not the end of itself.

[@xChaoSpawNx]

Flow's aim of "giving renters *_a sense_* of security, community and genuine ownership" says plenty about their real intentions.

[@jarvisaddison8560]

Keyword is " sense"

[@defaulted9485]

Thank GOD some people noticed it. Was starting to lose hope that these kind of slogan and PR Speak gets too many passes.

[@fakeplaystore7991]

Expect his to get tons of ESG money with that aim. You will own nothing and you will be happy (by having *a sense* of "security", "community", and "genuine ownership").

[@Pushing_Pixels]

I wonder how much he'll pay himself for the trademark to his own company's name this time?

[@unlucky-61]

@@Pushing_Pixels 2 B

[@ParotandArmorfinish]

So excited for Flow and its competitors to raise an unholy amount of money, buy out half the apartments in my area, triple the rent, and destroy the nations already shit rental market in like a year flat

[@surfside75]

You nailed it. -no pun🙃✌

[@bad_money]

The problem with a great majority of these "start-ups" is that they seem to like inventing problems to solve, instead of solving any actual problems.

[@unnamed3893]

Damn right. Loved your WeWork video btw!

[@jessewinchester1829]

Literally lol

[@mac23806]

Bingo you've just become woke

[@BiigiieCheeese]

"tech" start ups are just like modern mathematics. solve cases and problems that have no real life value

[@paulmahoney7619]

@@BiigiieCheeese people thought imaginary numbers had no practical use for centuries, and then we found the schrondinger equation. It can take a long time to find a use for it, but pure math gives us the tools, and eventually we find a use. And unlike companies, pure math has never destroyed more money than 99% of us will see in a lifetime.

[@JamesHahnII]

His big idea is to be a real estate developer. Stunning.

[@MuppetsSh0w]

Not even a developer but a landlord lol

[@mjmulenga3]

Yes, but disruptively. 🤣🤣🤣

[@StefanReich]

Nooo no no no. He is "rethinking the housing market by creating a branded product with consistent service and community features". Yeah. Whatever... that means.

[@firehot006]

But he has a nicer website and logo, so the company is worth billions.

[@SecondTake123]

Exactly!

[@mikyhtx]

This is great! I am looking forward to WeCrashed season 2.

[@adamalilou]

Hahaha same!

[@FictionHubZA]

I heard the second season has a crash bigger than the first.

[@jivasche7345]

I hope it doesn't happen. I want the new series be called Flop instead of WeCrashed season 2

[@Project_1143M]

@@jivasche7345 nah WeCrashed season 2 is better

[@Chill2DMax]

Would WeFlowed be a better title?

[@Windows98R]

I don’t need a “sense of genuine ownership”, I just want to own it. Ain’t that hard of a concept to understand.

[@vvenkat111]

that is why you and I are thousandaires while Weedboy is attracting 2B$ golden parachutes and 350m$ seed funding.

[@HülyeLó]

@@vvenkat111 I still can't see the appeal of Weedboy. If I were a serious capital manager, I wouldn't touch that guy with a 10ft pole.

[@thunder____]

@@vvenkat111 I think it's bold to even assume a stranger is a thousandaire these days. I personally know several people with Bachelor's degrees who usually have less than $100 to their name.

[@Laotzu.Goldbug]

@@HülyeLó there is something 80% plus of these people have in common, and that level of nepotism and market control means you can continue to make profits for a very long time even when on the longest time scale you are destroying value and productivity. this is the essential nature of parasiteism. Small hats open big doors.

[@23Agarwaen]

I'm calling it now: Flow will be basically a landlord with a smartphone app (so you can, e.g., order for a plumber). They'll ofcourse offer exorbitant leases for the privilege of "living in the future". They'll then try to pitch their app services to other landlords by getting a cut on the lease.

[@HarryHab-w9k]

I am a landlord working through a very efficient independent management company who are responsive to renters' needs. They have been around for decades and I first knew them when I was a renter myself. So how is any of the BS new?

[@aviztar]

I mean... at this point, I'm rooting for Adam, if somebody is stupid enough to actually go into business with him, they deserve to lose the money

[@Soraviel]

Exactly (agreed)

[@o1lec1]

Darwin's economics

[@foobarFR]

He acts like a drain to evacuate all excess of dumb money in the financial system.

[@HostileTakeover555]

I’m not. I think he’s such an obnoxiously pretentious 💩 and I think there are many more projects that are worthy of investing in.

[@rickysterling9194]

First rule Rich people never loose money. Those who have invested with him are generally connected with gov so even if he looses , gov will print more money to pay back investors or write off the loan. Which roughly translates to more inflation, which will be bore by public. Please name one rich investor of WeWork who is living on street because of WeWork disaster.

[@nixonteo]

Adam is the epitome of failing upwards.

[@Praisethesunson]

As long as you can con the already wealthy, you can get away with anything

[@MandoMTL]

Little hats.

[@donotletthebeeswin]

Point taken but you can hardly call it failure when he's doing more or less what he set out to do. He's like Trump or Musk. He has no vision for the future. Everything he does is an instinctual response to the state of VC/PE where he sees opportunity to produce a high valuation with less-than-viable product.

[@jaysdood]

@@knotscapital Too ethical.

[@ThePowerLover]

@@jaysdood He.

[@nalgene247]

"giving renters a sense of ... genuine ownership" lol so basically pay us and we will do our best to trick you into feeling like you actually own something. sounds about right for this guy.

[@mm-hl7gh]

its perfect. "a sense of ownership" thats exactly what the customers get for their cash. no more, no less.

[@6shnuggle6]

As a renter, this scares me. It’s getting hard to rent without terrible living conditions. This guy has no idea but I guess that’s not the point.

[@18booma]

"We'll give you the opportunity to pay a mortgage and maintenance. Just not your mortgage."

[@somethinglikethat2176]

Don't you want the sense of "community" the comes with living with 4 or 5 strangers? Wouldn't you enjoy listening the Brad and Tiffany fight in the next room about whether he did or didn't look at that waitress's ass while you're trying to sleep? What about the sense of ownership cleaning up after Amar'e who totally doesn't pay rent because his just staying with is girlfriend Kendal while he looks for his own place for 3 months and counting? What about the feeling of belonging that you could get from Cole and Phil trying to explain to you why the Netflix adoption missed so much of the subtly of the source material? And sure Colin makes a lot of noise but his streaming channel will take off any day now and with that and work it's totally understandable that he couldn't do his chores around the house.

[@mikemurphy5898]

@@somethinglikethat2176 who hurt you?

[@GoHerping]

"disrupt" is my trigger word

[@fearlv1rattata]

Knowing Adam's background, it's basically going to be some dystopian communal living situation that they charge an inordinate amount of money for. They're going to see the "you'll own nothing, and you'll love it" WEF quote come to life. Can't wait to see what it is.

[@cameron_fairchild]

The costs will be covered by the govt, during Biden's second term. Adam wants to do the housing for the disaffected, homeless, mentally ill, drug-addled people who will end up on Universal Basic Income. Housing that will be subsidized, then be run through FEMA after some false flag disaster.

[@freddycastellanos3783]

The church of Adam

[@bobchipman4473]

​@freddycastellanos3783 Well, the synagogue of Adam atleast.

[@geoffreypiltz271]

It's all about getting a lot of cash to pass through the business. It doesn't matter what lies you tell or how implausible or unworkable the business model is. If enough money is involved then it's easy to get a serious amount of wealth to stick to your hands before it goes belly-up.

[@keno9964]

Richard Branson can support that :)

[@fidelio9301]

Modern business black pill.

[@rjung_ch]

He's basically a crook, reminds me of Trump or Kushner.

[@DenizKupanaha]

Yes. If you do it right and only sell a small amount of stock (still a lot of money), you can make it legally safe.

[@mattfirman3877]

Exactly. This isn't disrupting anything but their wallets. What a joke.

[@Macho_Fantastico]

You got to give Adam credit, he manages to get money from investors before he's even got any idea what the hell he's doing. That's a skill right there.

[@pumpedupbro4200]

But that's also conning. If it's a skill than it's a bad one to have. People like him should not be given a chance as they are upto no good

[@cloudbloodmusic]

Yeah the skill of bullshit with a sprinkle of privilege

[@kimberleymansfield1099]

Not a skill....a scam!!

[@kissconsider]

If you actually see the history of the most successful people in the world, they all have "relentless lying; ridiculous embellishments" in their bio. If you want to be successful, just lie until people perceive value i guess. ...and get adopted into an affluent NYC family who can afford to put you into a business college too

[@kkman7394]

Probably invested some of his wealth in the fund with the understanding that the fund invested in his venture at a stupid valuation.

[@goranagar4010]

If this doesn't end up as another cult-scam like Adam's last project I will be very much surprised

[@fidelio9301]

You mean like all start ups?

[@Ken-nv2hl]

Does it matter? There is no negative consequence for his actions. Even if it does fail he will get another golden parachute. I'd say good on him I encourage everyone should do the same as he does! As investors have stolen so much money from hardworking working class people then throw it away onto people like him.

[@cutiko]

Why cult?

[@dodgemf1]

@@fidelio9301 youtube was a start up 🤔

[@fidelio9301]

@@dodgemf1 Exactly and look at it

[@Snowy123]

He proves that the people you know is more important than having a product. He might be a genius at pitching but they're product geniuses who aren't getting the funding they need.

[@bobbym6130]

Taking care of the home you own is a very fulfilling experience. Learning to DIY, meeting neighbours and getting recommendations, meeting local people who do lawns, these are parts of life that should not be replaced by an app.

[@makodad]

Most of the startup ecosystem works on the principal of the "Greater fool theory". Wework might have crashed but the investers who invested early did make money selling it to the people who joined late to the frenzy, and a lot of it. He may have been the reason for Wework's crash but he would still get investors to invest in any "idea" he can cook up, all they need is to find is the greater fool.

[@somethinglikethat2176]

I think it will be harder this time around. It's one thing to fail, it's another thing to fail so hard you become a household name.

[@nycgweed]

Exactly another ponzi

[@t.7124]

@@nycgweed 🤔Yeah it's almost like capitalism promotes exploitation

[@DanDog91]

Will Flow be successful? NO .. but it will likely succeed in its goal of creating a wad of money to fund golden parachutes for its investors.

[@Israelpwn]

Thanks! Everything actually makes a whole lot of sense now.

[@evilflowx]

It’s basically a subscription home rental service. You pay a monthly fee and you can choose from available properties and move around as your needs change. Meh. It’ll be expensive and the most popular locales will be fully booked.

[@paulmahoney7619]

And it'll take housing off the common market, worsening the housing crisis.

[@mukamuka0]

And you'll be the one who pay mortgage for them with your monthly fee with this they can expand and expand until in the end Company will own every properties and people will have to rent it from them.

[@cihadturhan]

It might not be that expensive as they'll be operating thousands of properties but what happens when they increase their subscription price when you live is the actual problem.

[@tomlxyz]

I can see it fitting certain types of people who stay in a certain area for longer than an usual hotel stay but then move on

[@chrisnamaste3572]

Neighborhoods auctioned off to the highest bidder like AirBNB.

[@johnsmith99997]

VC isn't about good business, it's about finding a greater fool - and as we know there's one born every minute

[@Dan16673]

100%

[@akaMokassin]

Am I the only one who has the words "money laundering" pop up in his head when he hears stories like this?

[@bbuggediffy]

Yes, you are wrong. This isnt it

[@nsgrnnsgrn3878]

You’re right. It is

[@jeffw8218]

It’s completely insane that this guy is not in PRISON for investor fraud. Their company has to be protected by MOSSAD or something like that.

[@cameron_fairchild]

You're getting warmer. hint: SBFried.

[@jeffw8218]

@@cameron_fairchild yeah, but even Bernie Madoff was arrested and sentenced. The FBI/DOJ/SEC are (hopefully) getting as much info as they can so they have an airtight criminal law case.

[@jbbrolic]

@@jeffw8218 Bernie Madoff there was no grey area to not prosecute. It was a straight up ponzi scheme. So was FTX but the lax regulation in crypto (even though FTX wasn't a real crypto company, it was a ponzi scheme) could give them the leeway to not prosecute a tribesman.

[@jeffw8218]

@@jbbrolic True, but SGF still committed a litany of crimes that apply to crypto, such as wire fraud, which could easily land him in prison for 20-years on its own. Add the other charges, and him, Caroline Ellison, and a few other people could face life in prison, or at the minimum 20-years.

[@vn2183]

Seriously, Why is he not in prison?!?! Who in their right mind would invest in anything this guy is proposing?

[@fatcat22able]

How the hell this guy still manages to find CEO jobs is beyond me.

[@Magicalnora]

How this guy is sitting at a table with Theresa May is beyond me

[@rjung_ch]

Or that people would invest with him / in him. Guess people are greedy, similar to the people who invented in One Coin, she's been in hiding since 5 years or more.

[@tovsteh]

He doesn't find CEO jobs, he creates them for himself.

[@chabland]

Well, to start with, apparently he is pretty good at lying.

[@mariusvanc]

It's easy to be a CEO. Start a company. Make yourself the CEO.

[@WrknEdits]

Marc A.: "We (pun intended) have to do something about the housing crisis", Also from the same person: "Don't build multi-family housing in my neighborhood!" Translation, ideals are great, popular, and cheap, but equality takes humility and sacrifice.

[@18booma]

He literally just wants to make money off the housing crisis. And once a capitalist makes money off a crisis they perpetuate it, they don't fix it.

[@laurenconrad1799]

I remember reading horror stories about WeWork’s corporate culture on Glassdoor way back in 2015, before people on the outside knew what was really going on. But those Glassdoor reviews certainly gave me a glimpse.

[@artsmith103]

It was a destructive mix of wannabes posturing to be too cool to actually have to do something productive. I suspect many tenants were underachievers living in undesirable part of city that used wework membership to hang out with flashy crowd in nice location. Kind of like a gym membership for image nerds.

[@davidloughlin2238]

Adam was all about "We" at WeWork, when it crashed he became all about "I", and ran off with $1.6bn while employees were getting laid off without pay or redundancy.

[@Alvi3]

Thanks! I love your work! Can do one expositing Elon Musk

[@michaeldunn6690]

This makes me think of Blackrock buying up huge amounts of rental properties and of course "You will own nothing, and be happy". Something smells rotten.

[@dx315]

These people literally cannot wait until we have semi-autonomous robots that can do all manual labor so that they can begin killing all of the working class and below off. This is where the future is headed.

[@AlexHendershot]

How is it possible that people continue to look at this like a tech company when it’s literally a normal REIT

[@tycooperaow]

Because he's too associated with wework so people think it's a new and innovative one using works like "disruption" etc. Plus he's marking it like one

[@semperaugustus661]

Because flow.

[@keno9964]

This guy is just the front man for others in the darkness.

[@contrerasmcr100]

Exacto

[@chuasmare22]

Yes, I was thinking the same way.

[@aromagrande1914]

You know how it goes, hes just a vessel to integrate another unnecesary market. Further pushing down on the already expensive market that is renting/buying a living space.

[@bloodaid]

Money laundring. What else.

[@dustchip8060]

So true.

[@theoryneutral]

This has inspired me to launch a startup. A new paradigm. WECEL. At WECEL, Adam can share a jail cell with Elizabeth Holmes despite their differences in gender and criminal preference.

[@Myrddin1955]

Anyone who goes into business with this guy, really does deserve all they get! Mind boggling!

[@evanbohn]

"Tech Entrepreneur" = rents individual desks in an office space flow will probably just have a streamlined eviction process, showing shared apartment spaces while kicking out the previous tenant

[@cpeterso]

Tech "disruption" is just a means of sidestepping regulation, funny that we're seeing conditions that led to the demand for the regulation in the first place

[@ulimetic]

The game is about inflating the valuation so the 1st group of investors can drop it on the 2nd round of investors. It has nothing to do with actually creating anything of value, else than value for the 1st round of investors. Startups at this point are just speculation.

[@ingenieroriquelmecagardomo4067]

Fr. Venture funds in the US have so much money they just dump millions on almost anything and hope 1 of them makes it big.

[@lowwastehighmelanin]

MLM at a huge scale.

[@Dwightstjohn-fo8ki]

@@ingenieroriquelmecagardomo4067 Mining stocks in Canada and on small exchanges are just like that: get money into 25 outfits and hope ONE or two pay off. But that's the industry. This is a con, based largely in the "correct" cities of New York and London, maybe a few others. And you take a lot of people's money, too, in what is basically fraud/con/stealing. The "suckas" get bled in the second and third round.

[@ingvarhallstrom2306]

Someone named Ponzi something?

[@onehitwhat]

A16Z already operates on this goddamn model, back when "initial coin offerings" (unregistered securities) were offered by tech startups they used to invest in those and then sell them to bag holders.

[@mhkpt]

I'd hope this turns into another catastrophe for investors, but the problem is, if that happens, it'll probably also suck for his workers and customers. Also, notice the Alfred tagline and promise - "above-market rents". Really serving society there.

[@philoslother4602]

Yep, Serve me, I want my house's value to multiply by 4 in 10 years

[@mikemurphy5898]

Yes, serving society means providing them the services they want as indicated by what they are willing to pay for. It doesn't mean making everything cheaper although even when that happens people still complain because someone, somewhere is being negatively effected by it. It's almost like some people just want a reason to complain.

[@ArawnOfAnnwn]

Investors don't lose out working with people like him lol. They make plenty of money in the process. The only ones who get shafted are hardworking working class people, via disruptions in the rental market.

[@Connorthecatsdad]

We have to get back to an economic model where the most valuable thing is the result of a product or service and not hype. It's embarrassing

[@Myrddin1955]

@@philoslother4602 just the four times? Really?

[@ik2254]

To those who wonder why they invest in him, I'll explain to ya: 1) Get initial funding. Build basic, barebone shit that 95% consists of PR. Get initial customers, by spending 90% of the funds of Google ads. 2) Another round of investment, from the different company. Investors in step 1 already made their money back, on paper. Here they either cash out or play the long game. On the funding the PR kicks into full gear. Customer base is inflated by any means necessary. 3) Repeat step 2 as much is you want 4) IPO. All that PR, buzzwords and ripe customer base, that might not even be real leads to a huge demand for stocks on the IPO. Everybody is FOMOed the heck out, which drives prices sky high 5) This is where you sell, taking the money from other people's pockets into yours. A glorified pump-and-dumb with extra steps to make it legal. THIS is why they give him money. They hope to play a game of hot potato and win. In fact it's a really easy game of hot potato because in the end you dump your shares on the stupid public. The tough task is to balloon the fk our of the thing, and take it through all the rounds to IPO. Newman nearly done that, and managed to hype up this to a ridiculous 47 billion. This is the skill they seek and give money for. Everything is extremely logical, and these people aren't dumb, like everybody here believes. They know what they are doing perfectly.

[@alexmarvin3093]

I'm definitely going to spend a few years building a house one day in a remote location

[@E_Crypto]

Gonna start calling him Adam "The Magician" Neumann. Can turn air into a billion dollars.

[@robertmiller7921]

And then he makes it disappear

[@ducanhluong918]

And vice versa

[@somethinglikethat2176]

He turned hot air into millions for himself... and turned billions into millions for Softbank.

[@normalname17]

can't wait for Elizabeth Holmes's crypto project

[@Mariuselix]

Top 🔝 👌😅

[@amizan8653]

"elevating the world's consciousness" WTF does that even mean?

[@ingvarhallstrom2306]

It's fluff, like his companies....

[@christinewatson1989]

What a weird way to say "workspaces with hipster furnishings".

[@FictionHubZA]

Drugs

[@DurkaLaDurka]

Nobody knows what it means but it’s provocative, gets the people going!

[@TheAtl0001]

It is a public secret but nobody is allowed to say how this all is possible. He belongs to a particular group in society predominantly overrepresented in the financial world, and these members protect their position and each other.

[@hoppinghobbit9797]

hahaha is****

[@HarryHab-w9k]

I am not sure just any Jew could profit from this semite boost you claim exists...

[@Benjamin_Monnoyeur]

I'm not one of them, but i do know that they have statistically higher iq in their group (look at nobel prizes percentage for their group), therefore succes. That simple. Only the resentful (or weak) say what you say. Read some goddamn nietzsche and become strong brother.

[@joshuapatrick682]

Branding rentals is one of those revolutionary concepts you wish you though of, it’s so obvious, but there it is.

[@somethinglikethat2176]

Say enough buzz words and you're half way there.

[@ddude27]

I'd strongly disagree with McKeever Conwell's statement about the situation. If the company sucked in enough money from the public or was heavily involved with the public then anything bad happening to it would most likely affect everyone. I hate the statement that "we are just here to make money" because when an event like the depression or the great recession happens then somehow the argument turns into a really bad strawman argument like the public should have not invested in him then. What worries a ton is the lack of regulation from any organization to make sure that anything financial involved let alone this big gets looked thoroughly and ensures clearly who gets hurt in the event of something bad happening. Funny enough ClearTaxView's channel had a video on how bad as big as the IRS is at enforcing regulations let alone having the moral to keep to abide by laws themselves.

[@perfectallycromulent]

"be a good person" is not explicit in the description of just about any job, but finance guys act like that's a license for immorality rather than realizing that the requirement transcends employment status.

[@cloudbloodmusic]

I don't think he was defending it tho. It seemed like he's just explaining why A16z was willing to give him money

[@edwardroh89]

@@perfectallycromulent finance people are the worst. They honestly are parasites to the economy because the only value they bring to the world is either to themselves or the company they work for. They bring no value to the economy. No products, not entertainment, no moral value. Parasitic capitalism.

[@cdreid9999]

under dubys they radically cut the irs tax atttorneys and auditers..the people who audit the rich. Abd obama and trump both approve of course. So the ira basically only has the ability togk after the lower classes whom it can bully ( trust me they can doanythi gthey want if youre not rich)

[@PIMKAMINA2]

"being a decent human being isnt part of the job, its nice but its not good business". Bodes really well /s

[@ernestofermin3136]

My uncle worked for we work in Manhattan for a few months before being laid off. My first thoughts walking through the workspace was how the company could make money when there work space was like a man cave. Coffee bars, pool tables, seats all over, you name it the offices had it I knew it seemed too good to be true but my uncle said he had a good time while there lol

[@von...]

went to one in mexico when I was there for a few week to do work while there, shit was actually pretty dope. But yeah, I just got swiped in by my homie & tbh I have no clue how they make money unless the companies are paying hella to have their employees work from there. It just was 99% of remote workers chillin hard & occasionally taking a call, but it was pretty decent & my friends personal office was dope & super well sound-insulated.

[@hoangle2483]

From what I remembered about my professor said. WeWork aims to be a place where new start ups gathering around. And when there are lots of start ups gathering, there are higher chance of a Unicorn to appear. Imagine owning a place where Unicorns are likely to appear.

[@toomanymarys7355]

@@hoangle2483 the unicorn can then get its own building. That's like wanted to be the janitorial company servicing start ups.

[@hoangle2483]

@@toomanymarys7355 Wework could still have the advantage of being the few first ppl to interact and make deal with the Unicorns, since they own and monitor the area. Dont forget the network effect, if WeWork can establish itself in the start up community as the place where every Unicorn gathers. New start ups and especially investors will start flocking over. Remember that the major shareholder of WeWork is Softbank, who is extremely aggressive in seeking out Unicorns.

[@sarasotauptoseattle]

I'm going to purchase an annual subscription to CS & Nebula, based solely on the strength of how much I appreciate your YT content. Thanks Dagogo!

[@jbalogh01]

I used to drive by a building in the domain that one day had "wework", written on the top of the building. I never knew what it was about. About a year of driving by, the wework disappeared and the building was for lease.

[@rustkitty]

So it's yet another "landlord company masquerading as a tech company" scheme? Does Newman never learn?

[@cloudbloodmusic]

He won't learn until he becomes bankrupt with nothing to his name and he can't even get a job at a McDonald's

[@triggeredlonda4317]

​@@cloudbloodmusic hahaha he is

[@triggeredlonda4317]

​@@cloudbloodmusic he is already billionaire

[@bahroum69]

Never learns? Like in "never learns how to make billions"? Well, sounds like he does.

[@williamtimonen6814]

@@bahroum69 He is probably going to earn more from this scheme than all this videos viewers will do combined in their lifetimes.

[@balajinarasimhan5346]

my mom always say that if you earn something through shady means and the money which doesnt belong to you, It will not stick with you for long. I have seen that happen many times and im seeing it again now. What a nice time to invest in real estate properties!!

[@proudindian3697]

Rajnikanth dialogue..?

[@Fezzy976]

I love this channel, with this and Internet Historian I feel spoiled with some of the best content on the internet. Watching this content for free feels like I am committing theft.

[@lowwastehighmelanin]

You could sub patreon if you really feel that way.

[@Andynonymous_music]

if you’re into soccer, Dagogo also has another channel called Football Iconic

[@HowItHappened]

Awesome analysis on Flow! Thanks for the mention too 🙌

[@jdrancho1864]

08:00 some background here. California law requires communities across the state to make part of their housing stock available as low-income housing. That puts some ZIP codes, like the famed 90210, in a position they don't want to be in, to the point that some have argued that staff quarters for live-in domestic help should be considered low-income housing for the purpose of compliance with the law. Residents of cities like Atherton and other high=dollarr enclaves that most of the public has never heard of come up with the oddest of reasons why they need to be exempt from that requirement.

[@EmperorBun]

Privilege in action. Think of all of the 350 other actually decent companies A16z could have invested $1M apiece into, and instead all that is flowing into the pockets of a man-child who almost single-handedly obliterated billions of shareholder value. Nobody else gets this kind of leeway in society

[@alanjenkins1508]

You can hire fewer financial people if you lend out larger amounts of money at a time. The theory is I think that you can hire the best, at huge salaries no doubt, who will make fewer investment mistakes. Unfortunately this is not the reality, but does lead to the rich getting richer and the middle economy which drives most economic growth being deprived of capital.

[@joela.4058]

Well these people are apart of a very exclusive group of people that like to shuffle money exclusively between themselves

[@taylorinase2148]

“Maybe he doesn’t have people’s best interests at heart” 😭🤣

[@taylorinase2148]

Ya, maybe..

[@d993s]

Which one of his tribe have people’s best interests at heart? Zero

[@BM-wp7nh]

my guess is that the properties he bought got contracted to the flow company he created for free for a few year so that he could secure a major investment from a16z. a16z would then get a secure deal on getting a higher percentage of profit through renting without investing in property and Adam could always offload his properties in the future. A more happy scenario could be that with the properties he purchased he gives to people on a rent to own basis without paying a mortgage if they live within the ecosystem of flow or for a specific number of year. The reason of this is because the biggest struggle is getting a mortgage for rent.

[@raincoaster99]

This episode reminded me how much I admire your channel. I got the audiobook too, but that’s like three weeks of my life.

[@jpgdallas]

Seems to me flow will use part of that $350 million to buy Alfred and giving Adam a huge payout for his Alfred shares. That’s kinda been his MO regarding VC capital , right?

[@Harvey017]

Since the start of the pandemic I’ve never witnessed so many new billionaires being born.

[@KT-zc7lc]

While small business owners couldn't operate.

[@monkeywrenchstudios3590]

The plandemic you mean lmao took em months to react cause they were dumb and greedy. Saw COVID as an opportunity

[@AmericanNope]

@@KT-zc7lc you get what’s happening. Those who already have the wealth want their corporate takeover of almost everything

[@michaelambrose]

Adam was a billionaire long before the pandemic

[@BiigiieCheeese]

"billionaire being born" as if they didn't have old money to begin with. For every Jeff Bezos there are hundreds of Elon Musks who are basically gifted a golden spoon.

[@philfichtinger3009]

Dagogo, your stuff is the sh*t! Thanks for that!

[@Bizarro69]

The older I get the more I feel like this world was made for the rich. Maybe we're in a simulation created by a quintillionaire and they're living through all the rich people and enjoying seeing the poor struggle.

[@18booma]

The world is built for the rich by the poor. First it was monarchy and now it's capitalism. Neither of these systems are for the prosperity of those who work. They're for the prosperity of those who own stuff.

[@moneyobsessed]

@@18booma cries in hunter gatherer.

[@borginburkes1819]

It wasn’t like this before the Industrial Revolution. Africans may live in mud huts but they’re all content and happy

[@cdreid9999]

read some history. It always was

[@cristianrezende5513]

@@18booma how do u think Jeff Bezos, Bill gates, Ellon Musk became rich? they WORKED. Meanwhile u are just blaming the system for your own failure.

[@annamariaisland1960]

As an older person, Neumann reminds me a lot of another Israeli who came to the US in the 1970s intending to make a fortune convincing people he had a special talent. His name was Uri Geller, and his talent was bending spoons allegedly with his mind, though it transpired he was in fact using his fingers. Geller took in a lot of people for a while, using the same self-confidence that Neumann excretes. With luck, his investors will become shirtless, but as others here say, the concern is that the housing market, already a disgrace, will became a tragedy of epic proportions.

[@Ronilac]

This faith that the phone app will be solution for all problems... but you cannot save people from themselves... as usual, common sense is the most valuable asset.

[@southparkgdp]

He is a perfect encapsulation of the modern age: Clever marketing, cheesy "brotherhood" talk and lies barely covering up a shameless unicorn.

[@ultimatestoryteller]

Neuman has a next level talent of conning people. He isn't wrong, matter of fact he is a hero in his own story, it's everyone else around him who believes in his ideas, who are idiots.

[@WombleUK]

Note the wording "gives a sense of owning" meaning its an illusion & you wont actually own or control anything.

[@awesomeblossom2417]

10 years ago in my area, houses were very affordable for lower to middle income families. The houses in our city tripled in value over the course of 1-2 years. This is directly caused by investors driving up the prices, creating a situation making it impossible for middle income families to purchase homes. I for one, would be okay if they created legislation to regulate house purchases for families. If the government wants to do so good, then they can make sure houses are affordable for regular people.

[@nicolashrv]

P.S. I like how this people are portraited as "pioneers" or having "brainstorms" when talking about their products, but 5 minutes after you heard "he realized he needed to do this" you hear his partner is buying "his competition"........so is not he "realized" there was a need.......he saw what others were doing and decided to copy them, starting actually way after the competition.......the only difference it seems they get Phresh kosher money to increase the value of a company which basically is not doing anything because it barely has its name registered.

[@Add_Infinitum]

So, how does an investment of $350 million lead to the company having a value of 3 times that much? Did Adam contribute the rest? Is it trickery? Arcane magic? Also it's kinda bizarre to target millennials, famous for having money issues, with an unnecessary bespoke life management app. Actually I guess when you put it that way it makes perfect sense

[@TimothyHalleran]

This is my favorite video on Adam's new startup. Great analysis and deep dive.

[@romoalex]

i had a boss like him.... same home country and same mannerisms, also went out of business

[@arto1313]

westeal would also be good name companies running guy like he.

[@stevenfinch2547]

the comparison to Alfred is just crazy. He is just building a REIT!

[@adaption196]

I think renters are really getting screwed left right and now by Adam too, a snake is a snake

[@danielsweb2]

A couple thoughts. 1) What does redemption look like for someone like Neumann? and 2) What does unbroken VC look like? This is a nice video, as always, beautifully produced and articulated. But this video anyway, I found it hard to connect the threads and get a coherent thought outside of "here's a clever fund raiser with a sketchy past building again." /shrug

[@brushstroke3733]

I think the point of the video was to warn viewers to steer clear of the con known as "Flow".

[@mbuhplus7800]

Amazing, everytime he fails, he becomes a new man

[@MrJoki56]

It’s money laundering. I have no proof whatsoever as I’m only at 6:12, but there’s no way people are giving money to him based on his promises

[@bigboymamba]

yes i will short it if they go public. and to Alfred the idea is by giving more service you can charge higher rents even without changing a lot.

[@sherbazkhan9447]

I'm not sure about his skills and intelligence. But definitely he's good at persuading people

[@skydivekrazy76]

You know my only problem with this new business venture? I'm not sure when I should short the stock... 😉

[@FictionHubZA]

Hold it for a day or at most a week. This isn't the type of stock to hold wth diamond hands.

[@WhuzzitWhoozit]

If you belong to certain groups, you never run out of money or opportunities unless you rip off other members of that group. Everyone else is fair game.

[@61klm]

Hey dagogo love your videos so relaxing to listen to these preposterous stories, what a crazy world… can I ask what’s the closing credits song called? 🙂

[@demorbe-official]

I jhus stabled across this channel. And finding much value from it. About starts it's hard to predict cause most of them come up as companies that are going to be revolutionary and bringing huge difference to the market place proving to provide solutions that have never existed. But when you look into them they be solving nothing at all.

[@LupoGalante]

The term unicorn has been misapplied to so many ventures which are just pure speculation based on securing funding and debt then a slick marketing campaign to convince a consumer market that it needed this product all along. Wework and Flow are not really anthing different to say a building management company like Regus but the inspirational marketing around their trite landlord idea influences consumption based on the dim perception that something is vaguely different and therefore that must be a positive experience.

[@loupasternak]

When there are 20,000 ShiteCoins and worthless tokens with billions, nothing is sacred. We live in insane times

[@vknives]

"Back to israel, where they were originally from." You could have started with this and all the questions would be answered instantly.

[@WombleUK]

This sounds suspiciously like a thing we have here in the UK with "part-ownership" where people can "buy" a properly from 40% to 80% of it with the developer retaining ownership of the remainder. Problem is with most of these you can never own 100% as the developers never give up their share & also you have to ask permission to do anything to the property which is often denied by the other part owner (developer) & when you come to sell it's almost impossible because nobody wants to buy a property that they don't actually fully own, so your basically selling a share in something rather than the actual property. Everyone I know who did this regretted it. The developers hook people with the temptation of a cheap way to get on the property owning ladder.

[@HyperionMV]

I actually launched a company to do exactly what Alfred does and Flow seems to be poised to do. They are about to find out why I learned it would be too difficult to scale and opted to go in another direction. That X factor is HOAs.

[@aristideau5072]

"That X factor is HOAs." what does this mean?

[@natekwezi9242]

HOAs?

[@stdesy]

Home owners associations?

[@joesterling4299]

@@stdesy Yes, that's what "HOA" stands for, in this context at least. What HOAs have to do with buying up homes and financially screwing people who want to live in them, I have no idea.

[@eidolonish]

@@joesterling4299 I think HOA's stand in the way of that juicy exploitation. Remember for these human vampires it's all about the dividend and who cares about the externalities!

[@keltonfoster]

Treat your people right and even if you fail you still have their support.

[@k1b04ALL]

His people being the capitalist owner class?

[@emanggitulah4319]

I thought we were done with this guy... Well let's make it a sequel and see money burning

[@hevnervals]

"He has very little ethics" That implies ethics is like a universal moral good that fills up.

[@TaoDeChing-ls5gz]

Neumann and the venture firm are all Jewish. They use the upfront capital obtain shares, the company will do an IPO and the retail traders will help them cash out. There’s basically zero risk for the venture firm.

[@Thebreakdownshow1]

I don't know how he is finding people to invest in his ideas.

[@BiigiieCheeese]

This is the US. We aren't know for our critical thinking skills, education or even learning from our mistakes.

[@Thebreakdownshow1]

@@BiigiieCheeese lol FREEDOM guns and GLORY is all i heard as i read that lol

[@ilana3232]

Adam is super smart and charming g u y, that’s for SURE his big success……. ………..his brilliant and knows how to talk ❗️❗️❗️

[@HarryHab-w9k]

It's tricky choosing an investment these days.

[@PrincessVelaryon]

So basically he invested in start ups, learned their way of doing business and started the exact same business with the same models?

[@MrNootka]

Great channel! more start up stories please!!!

[@vincentdinatale6962]

We definitely live in an alternative reality! Dumbing down the masses has definitely worked like a charm!

[@TheDavidlloydjones]

"Anderseen" is a spelling error. We're used to your mispronunciations of words that you've seen in writing but never heard, Dagogo, but inventing your own misspellings is a new fillip on the whole thing.

[@TheDavidlloydjones]

"Up-skayoo"? Try upscale. Up. then skale, OK?

[@joshuapatrick682]

Maybe, but at this point he’s basically unlocked a cheat code to make a butt ton of money for just saying words and I have to tip my hat to that.

[@BrutalSnuggles]

I think your takedown Neumann was my first cold fusion video. Cant wait to get the sequel when you catch the grift again