Will Adam Neumann Fail Again? ($1 B Value, No Product!)
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Күн бұрынSee the next episode early on Nebula: curiositystream.com/coldfusion
Disgraced WeWork founder, Adam Neumann is back! In this episode, we'll see what he's been up to.
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Sources:
techcrunch.com/2022/08/15/tec...
www.cnbc.com/2019/10/22/wewor...
www.esquire.com/entertainment...
www.esquire.com/entertainment...
therealdeal.com/tristate/2022... portfolio-for-293m/
nypost.com/2022/08/15/wework-...
a16z.com/2022/08/15/investing...
www.msn.com/en-us/news/us/the...
www.forbes.com/sites/iainmart...
www.bbc.com/news/business-625...
techcrunch.com/2022/08/15/tec...
www.theguardian.com/business/...
techcrunch.com/2022/08/15/tec...
www.theguardian.com/business/...
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Producer: Dagogo Altraide
@samaeltheundying Жыл бұрын
Having this dude influencing the housing RENTAL market and in my everyday life sounds like a dystopian nightmare.
@DacLMK Жыл бұрын
Everything is a dystopian nightmare to you people.
@minyaksayur Жыл бұрын
with a rising interest rate, his investors are downward stupid.
@PlayedbyInstinct Жыл бұрын
@@DacLMK to people on youtube..?
@RubixCubix_ Жыл бұрын
he is jewish, was that supposed to be a pun?
@5daboz Жыл бұрын
Grim gets dark.
@aromagrande1914 Жыл бұрын
This company resonates exactly with "you will own nothing and you will be happy"
@k9killer221 Жыл бұрын
Exactly. This is pod world being implemented and that AZ16 company knows it.
@lynchjl Жыл бұрын
No coincidence there I'm sure!
@remodernist Жыл бұрын
exactly what i thought, they know this is a market ripe for investment and disruption
@user-fk8zw5js2p Жыл бұрын
"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 Жыл бұрын
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.
@Pouwmademedoit Жыл бұрын
Flow's aim of "giving renters *_a sense_* of security, community and genuine ownership" says plenty about their real intentions.
@jarvisaddison8560 Жыл бұрын
Keyword is " sense"
@defaulted9485 Жыл бұрын
Thank GOD some people noticed it. Was starting to lose hope that these kind of slogan and PR Speak gets too many passes.
@fakeplaystore7991 Жыл бұрын
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 Жыл бұрын
I wonder how much he'll pay himself for the trademark to his own company's name this time?
@unlucky-61 Жыл бұрын
@@Pushing_Pixels 2 B
@ParotandArmorfinish Жыл бұрын
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 Жыл бұрын
You nailed it. -no pun🙃✌
@bad_money Жыл бұрын
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 Жыл бұрын
Damn right. Loved your WeWork video btw!
@jessewinchester1829 Жыл бұрын
Literally lol
@mac23806 Жыл бұрын
Bingo you've just become woke
@BiigiieCheeese Жыл бұрын
"tech" start ups are just like modern mathematics. solve cases and problems that have no real life value
@paulmahoney7619 Жыл бұрын
@@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.
@goranagar4010 Жыл бұрын
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 Жыл бұрын
"Disrupting the future of living" sounds ominous as hell.
@pieflies Жыл бұрын
Disrupting the ability of the general public to be able to afford their own house.
@lbgstzockt8493 Жыл бұрын
@@pieflies sounds like the market is already sufficiently disrupted.
@jamieferguson935 Жыл бұрын
Your house price is only double there? Wow you have got it lucky.
@bloodaid Жыл бұрын
Did you say $1.3 million? Got it, $1.9 million.
@Windows98R Жыл бұрын
I don’t need a “sense of genuine ownership”, I just want to own it. Ain’t that hard of a concept to understand.
@vvenkat111 Жыл бұрын
that is why you and I are thousandaires while Weedboy is attracting 2B$ golden parachutes and 350m$ seed funding.
@szuperrosszarcu Жыл бұрын
@@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____ Жыл бұрын
@@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 Жыл бұрын
@@szuperrosszarcu 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 Жыл бұрын
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.
@user-ph2ql2vg1d 4 ай бұрын
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 Жыл бұрын
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
@HShango Жыл бұрын
Exactly (agreed)
@o1lec1 Жыл бұрын
Darwin's economics
@foobarFR Жыл бұрын
He acts like a drain to evacuate all excess of dumb money in the financial system.
@HostileTakeover555 Жыл бұрын
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 Жыл бұрын
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.
@mikyhtx Жыл бұрын
This is great! I am looking forward to WeCrashed season 2.
@adamalilou Жыл бұрын
Hahaha same!
@ElectrostatiCrow Жыл бұрын
I heard the second season has a crash bigger than the first.
@jivasche7345 Жыл бұрын
I hope it doesn't happen. I want the new series be called Flop instead of WeCrashed season 2
@Project_1143M Жыл бұрын
@@jivasche7345 nah WeCrashed season 2 is better
@suhaas4546 Жыл бұрын
Would WeFlowed be a better title?
@fearlv1rattata Жыл бұрын
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 Жыл бұрын
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 9 ай бұрын
The church of Adam
@bobchipman4473 8 ай бұрын
@freddycastellanos3783 Well, the synagogue of Adam atleast.
@akaMokassin Жыл бұрын
Am I the only one who has the words "money laundering" pop up in his head when he hears stories like this?
@bbuggediffy 2 ай бұрын
Yes, you are wrong. This isnt it
@Macho_Fantastico Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Yeah the skill of bullshit with a sprinkle of privilege
@kimberleymansfield1099 Жыл бұрын
Not a skill....a scam!!
@applchu Жыл бұрын
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 Жыл бұрын
Probably invested some of his wealth in the fund with the understanding that the fund invested in his venture at a stupid valuation.
@JamesHahnII Жыл бұрын
His big idea is to be a real estate developer. Stunning.
@MuppetsSh0w Жыл бұрын
Not even a developer but a landlord lol
@mjmulenga3 Жыл бұрын
Yes, but disruptively. 🤣🤣🤣
@StefanReich Жыл бұрын
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 Жыл бұрын
But he has a nicer website and logo, so the company is worth billions.
@SecondTake123 Жыл бұрын
Exactly!
@Snowy123 Жыл бұрын
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 Жыл бұрын
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.
@nixonteo Жыл бұрын
Adam is the epitome of failing upwards.
@Praisethesunson Жыл бұрын
As long as you can con the already wealthy, you can get away with anything
@MandoMTL Жыл бұрын
Little hats.
@ClarkHathaway3238 Жыл бұрын
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 Жыл бұрын
@@knotscapital Too ethical.
@ThePowerLover Жыл бұрын
@@jaysdood He.
@geoffreypiltz271 Жыл бұрын
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 Жыл бұрын
Richard Branson can support that :)
@fidelio9301 Жыл бұрын
Modern business black pill.
@rjung_ch Жыл бұрын
He's basically a crook, reminds me of Trump or Kushner.
@DenizKupanaha Жыл бұрын
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 Жыл бұрын
Exactly. This isn't disrupting anything but their wallets. What a joke.
@jeffw8218 Жыл бұрын
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 Жыл бұрын
You're getting warmer. hint: SBFried.
@jeffw8218 Жыл бұрын
@@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 Жыл бұрын
@@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 Жыл бұрын
@@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 Жыл бұрын
Seriously, Why is he not in prison?!?! Who in their right mind would invest in anything this guy is proposing?
@southparkgdp Жыл бұрын
He is a perfect encapsulation of the modern age: Clever marketing, cheesy "brotherhood" talk and lies barely covering up a shameless unicorn.
@nalgene247 Жыл бұрын
"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 Жыл бұрын
its perfect. "a sense of ownership" thats exactly what the customers get for their cash. no more, no less.
@6shnuggle6 Жыл бұрын
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 Жыл бұрын
"We'll give you the opportunity to pay a mortgage and maintenance. Just not your mortgage."
@somethinglikethat2176 Жыл бұрын
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 Жыл бұрын
@@somethinglikethat2176 who hurt you?
@goranagar4010 Жыл бұрын
If this doesn't end up as another cult-scam like Adam's last project I will be very much surprised
@fidelio9301 Жыл бұрын
You mean like all start ups?
@Ken-nv2hl Жыл бұрын
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 Жыл бұрын
Why cult?
@dodgemF1 Жыл бұрын
@@fidelio9301 youtube was a start up 🤔
@fidelio9301 Жыл бұрын
@@dodgemF1 Exactly and look at it
@theoryneutral Жыл бұрын
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.
@davidloughlin2238 Жыл бұрын
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.
@sinenhlanhla. Жыл бұрын
Sorry but if Adam Neumann is getting a second chance at being a scammer, then Elizabeth Holmes should make a return as well 💀
@AwardFabrik-SoF Жыл бұрын
One drop of blood gonna buy you 1% shares... right...right???!!
@cloudbloodmusic Жыл бұрын
Well Adam actually had a product to sell people. He technically didn't commit fraud but he did mismanage money and did a legal form of embezzlement
@loln00bsify Жыл бұрын
You can't defraud upstanding American war criminals like Henry Kissinger. That's criminal. Defrauding the American public? Have at it!
@hoangle2483 Жыл бұрын
@SayMyName Now u mention it. Maybe there are some factors of Nepotism/ favoritism in this. Dude probably has some degree of connections
@sinenhlanhla. Жыл бұрын
@SayMyName You are so right.
@makodad Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Exactly another ponzi
@t.7124 Жыл бұрын
@@nycgweed 🤔Yeah it's almost like capitalism promotes exploitation
@DanDog91 Жыл бұрын
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 Жыл бұрын
Thanks! Everything actually makes a whole lot of sense now.
@HowItHappened Жыл бұрын
Awesome analysis on Flow! Thanks for the mention too 🙌
@raincoaster99 Жыл бұрын
This episode reminded me how much I admire your channel. I got the audiobook too, but that’s like three weeks of my life.
@johnsmith99997 Жыл бұрын
VC isn't about good business, it's about finding a greater fool - and as we know there's one born every minute
@Dan16673 Жыл бұрын
100%
@evilflowx Жыл бұрын
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 Жыл бұрын
And it'll take housing off the common market, worsening the housing crisis.
@mukamuka0 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Neighborhoods auctioned off to the highest bidder like AirBNB.
@_romeopeter Жыл бұрын
Great one as always 🔥 I’m very much interested in how you go about your research. Please shed light to your approach.
@Myrddin1955 Жыл бұрын
Anyone who goes into business with this guy, really does deserve all they get! Mind boggling!
@fatcat22able Жыл бұрын
How the hell this guy still manages to find CEO jobs is beyond me.
@Magicalnora Жыл бұрын
How this guy is sitting at a table with Theresa May is beyond me
@rjung_ch Жыл бұрын
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 Жыл бұрын
He doesn't find CEO jobs, he creates them for himself.
@chabland Жыл бұрын
Well, to start with, apparently he is pretty good at lying.
@mariusvanc Жыл бұрын
It's easy to be a CEO. Start a company. Make yourself the CEO.
@alexmarvin3093 8 ай бұрын
I'm definitely going to spend a few years building a house one day in a remote location
@sarasotauptoseattle Жыл бұрын
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!
@AlexHendershot Жыл бұрын
How is it possible that people continue to look at this like a tech company when it’s literally a normal REIT
@tycooperaow Жыл бұрын
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 Жыл бұрын
Because flow.
@normalname17 Жыл бұрын
can't wait for Elizabeth Holmes's crypto project
@Mariuselix Жыл бұрын
Top 🔝 👌😅
@TheAtl0001 Жыл бұрын
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 5 ай бұрын
hahaha is****
@user-ph2ql2vg1d 4 ай бұрын
I am not sure just any Jew could profit from this semite boost you claim exists...
@61klm 8 ай бұрын
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? 🙂
@amizan8653 Жыл бұрын
"elevating the world's consciousness" WTF does that even mean?
@ingvarhallstrom2306 Жыл бұрын
It's fluff, like his companies....
@christinewatson1989 Жыл бұрын
What a weird way to say "workspaces with hipster furnishings".
@ElectrostatiCrow Жыл бұрын
Drugs
@DurkaLaDurka Жыл бұрын
Nobody knows what it means but it’s provocative, gets the people going!
@WrknEdits Жыл бұрын
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 Жыл бұрын
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.
@kateskeys Жыл бұрын
Great video (as usual) thanks Cold Fusion.🌟🌟🌟🌟
@GoHerping Жыл бұрын
"disrupt" is my trigger word
@laurenconrad1799 Жыл бұрын
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 Жыл бұрын
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.
@ulimetic Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
MLM at a huge scale.
@Dwightstjohn-fo8ki Жыл бұрын
@@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 Жыл бұрын
Someone named Ponzi something?
@onehitwhat Жыл бұрын
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.
@discoverymoi Жыл бұрын
Man I’m so interested in the video about the GM EV car, I wish I could see it on the nebula platform, but I can’t so I’ll wait for it to drop here. Thanks man.
@jaguarazul Жыл бұрын
Awesome video!! Hopefully it will open some eyes. 👌👏 Thanks for sharing
@keno9964 Жыл бұрын
This guy is just the front man for others in the darkness.
@contrerasmcr100 Жыл бұрын
Exacto
@chuasmare22 Жыл бұрын
Yes, I was thinking the same way.
@aromagrande1914 Жыл бұрын
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 Жыл бұрын
Money laundring. What else.
@dustchip8060 Жыл бұрын
So true.
@evanbohn Жыл бұрын
"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 Жыл бұрын
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
@jpgdallas Жыл бұрын
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?
@joshuapatrick682 Жыл бұрын
Branding rentals is one of those revolutionary concepts you wish you though of, it’s so obvious, but there it is.
@somethinglikethat2176 Жыл бұрын
Say enough buzz words and you're half way there.
@E_Crypto Жыл бұрын
Gonna start calling him Adam "The Magician" Neumann. Can turn air into a billion dollars.
@robertmiller7921 Жыл бұрын
And then he makes it disappear
@ducanhluong918 Жыл бұрын
And vice versa
@somethinglikethat2176 Жыл бұрын
He turned hot air into millions for himself... and turned billions into millions for Softbank.
@mhkpt Жыл бұрын
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 Жыл бұрын
Yep, Serve me, I want my house's value to multiply by 4 in 10 years
@mikemurphy5898 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@philoslother4602 just the four times? Really?
@Tizianv Жыл бұрын
Curious to see where this goes. Looking forward to a follow up video :)
@romoalex Жыл бұрын
i had a boss like him.... same home country and same mannerisms, also went out of business
@PIMKAMINA2 Жыл бұрын
"being a decent human being isnt part of the job, its nice but its not good business". Bodes really well /s
@danstewart2770 Жыл бұрын
I'd love to see Andreessen Horowitz's (AH) deal docs and securities structure. It could go either way. AH could have offered very permissive terms given infinite confidence in Adam Neumann's (AN) business acumen, or they may have required very restrictive terms given reports of AN's lavish, nay reckless, spending and insider conflicts. In either case, I'd be inclined to make a small follow-on investment on whatever AH's terms turn out to be.
@danielsweb2 Жыл бұрын
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 Жыл бұрын
I think the point of the video was to warn viewers to steer clear of the con known as "Flow".
@rustkitty Жыл бұрын
So it's yet another "landlord company masquerading as a tech company" scheme? Does Newman never learn?
@cloudbloodmusic Жыл бұрын
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 Жыл бұрын
@@cloudbloodmusic hahaha he is
@triggeredlonda4317 Жыл бұрын
@@cloudbloodmusic he is already billionaire
@bahroum69 Жыл бұрын
Never learns? Like in "never learns how to make billions"? Well, sounds like he does.
@williamtimonen6814 Жыл бұрын
@@bahroum69 He is probably going to earn more from this scheme than all this videos viewers will do combined in their lifetimes.
@ernestofermin3136 Жыл бұрын
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... Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@hoangle2483 the unicorn can then get its own building. That's like wanted to be the janitorial company servicing start ups.
@hoangle2483 Жыл бұрын
@@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.
@jbalogh01 7 ай бұрын
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.
@waqaryousfi6504 Жыл бұрын
Great! Yes, could you share your insights about General Motors on their project of electric cars back in the 90s when Giant OIL COMPANIES halted GM from producing Electric Cars?
@taylorinase2148 Жыл бұрын
“Maybe he doesn’t have people’s best interests at heart” 😭🤣
@taylorinase2148 Жыл бұрын
Ya, maybe..
@d993s Жыл бұрын
Which one of his tribe have people’s best interests at heart? Zero
@balajinarasimhan5346 Жыл бұрын
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 Жыл бұрын
Rajnikanth dialogue..?
@fcallum77 Жыл бұрын
Yeah, I remember watching your WeWork video. Come to think of it, there's a WeWork office on Colmore Row in Birmingham that I never really noticed until I did. At least the investors didn't get screwed over.
@sherbazkhan9447 Жыл бұрын
I'm not sure about his skills and intelligence. But definitely he's good at persuading people
@ddude27 Жыл бұрын
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 Жыл бұрын
"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 Жыл бұрын
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 Жыл бұрын
@@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 Жыл бұрын
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)
@Harvey017 Жыл бұрын
Since the start of the pandemic I’ve never witnessed so many new billionaires being born.
@KT-zc7lc Жыл бұрын
While small business owners couldn't operate.
@monkeywrenchstudios3590 Жыл бұрын
The plandemic you mean lmao took em months to react cause they were dumb and greedy. Saw COVID as an opportunity
@AmericanNope Жыл бұрын
@@KT-zc7lc you get what’s happening. Those who already have the wealth want their corporate takeover of almost everything
@michaelambrose Жыл бұрын
Adam was a billionaire long before the pandemic
@BiigiieCheeese Жыл бұрын
"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.
@ik2254 11 ай бұрын
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.
@thedisclosedwest7659 Жыл бұрын
Hi there, thanks a lot for your work!
@Fezzy976 Жыл бұрын
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 Жыл бұрын
You could sub patreon if you really feel that way.
@BillShatner31 Жыл бұрын
if you’re into soccer, Dagogo also has another channel called Football Iconic
@snakedoktor6020 Жыл бұрын
Yet another video that makes you think. Great job sir. I noticed one issue with the spelling of Mark's last name, Andreeseen. At the 6:25 mark, when it comes up on screen, it appears as Anderseen. I don't know if it was there in the original video snippet, or if you added it, but it's incorrect. Other than that, great job...again.
@ajackson9326 Жыл бұрын
Great broadcast
@joshuapatrick682 Жыл бұрын
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.
@xox14 Жыл бұрын
Great channel! more start up stories please!!!
@Bizarro69 Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
@@18booma cries in hunter gatherer.
@borginburkes1819 Жыл бұрын
It wasn’t like this before the Industrial Revolution. Africans may live in mud huts but they’re all content and happy
@cdreid9999 Жыл бұрын
read some history. It always was
@cristianrezende5513 Жыл бұрын
@@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.
@doyoulikeduckmeat Жыл бұрын
'Startups tend to find their footing on the 2nd 3rd or 4th try' My dad had a similar saying, 'through enough shit and it will eventually stick'.
@BrittanyGates Жыл бұрын
Sounds like Flow is going to combine HOA communities and Property Management together. Will it work? Probably, if they market it toward renters who want an all-in-one luxury living package.
@TimothyHalleran Жыл бұрын
This is my favorite video on Adam's new startup. Great analysis and deep dive.
@BM-wp7nh Жыл бұрын
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.
@creedolala6918 Жыл бұрын
I enjoy this channel. The topics are interesting and the presentation is fairly professional. A few tweaks to the writing could bring it to the next level. Avoid exaggerating words, cliches, and the misuse of literally, EG "It's literally all smoke and mirrors". And resist the urge to oversimplify complex topics to fit a narrative. EG describing the flow investment as "throwing money at something that doesn't even exist". VC (borrowing from Harvard Business review) "buys a stake in an entrepreneur’s idea, nurtures it for a short period of time, and then exits with the help of an investment banker." It is a gamble, but it's not an uncalculated or careless one.
@philfichtinger3009 Жыл бұрын
Dagogo, your stuff is the sh*t! Thanks for that!
@adaption196 Жыл бұрын
I think renters are really getting screwed left right and now by Adam too, a snake is a snake
@bigboymamba 7 ай бұрын
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.
@annamariaisland1960 Жыл бұрын
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.
@mikeschmitty4438 Жыл бұрын
Clearly having no conscious is the #1 personality trait to remain in the billionaires club
@laurenconrad1799 Жыл бұрын
That and being white.
@HostileTakeover555 Жыл бұрын
@@laurenconrad1799 🙄 give me a break. There are many VC funds that cater ONLY to POC out there. Maybe the problem is that POC aren’t developing enough viable products…
@jbhann Жыл бұрын
@@laurenconrad1799 …white? Don’t be so blind to the truth which is right in front of you. And if you think all it takes for a person to be successful is to be white, then why are majority of people who are living in poverty in the US…white? And for the truth…he’s not white.
@butters1273 Жыл бұрын
Adam: I suck at this. Some people for some reason: GIVE HIM MORE 💸
@xiongbenjamin Жыл бұрын
Awesome video! Thank you!
@nicolashrv Жыл бұрын
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.
@mbuhplus7800 Жыл бұрын
Amazing, everytime he fails, he becomes a new man
@jumboshrimp5193 Жыл бұрын
"It's one big club and you ain't in it." - George Carlin
@jaysdood Жыл бұрын
Adam Neumann never failed. He made himself extraordinarily wealthy, it's everyone else who got screwed.
@jacqdanieles Жыл бұрын
That's how trump got rich.
@moneyobsessed Жыл бұрын
@@jacqdanieles he got a 300 million $ loan from DB without collateral besides his word
@chrisnamaste3572 Жыл бұрын
A great grifter and con artist.
@PrincessVelaryon Жыл бұрын
So basically he invested in start ups, learned their way of doing business and started the exact same business with the same models?
@LupoGalante Жыл бұрын
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 Жыл бұрын
When there are 20,000 ShiteCoins and worthless tokens with billions, nothing is sacred. We live in insane times
@skydivekrazy76 Жыл бұрын
You know my only problem with this new business venture? I'm not sure when I should short the stock... 😉
@ElectrostatiCrow Жыл бұрын
Hold it for a day or at most a week. This isn't the type of stock to hold wth diamond hands.
@887knight Жыл бұрын
What's the song at the very beginning of the video? Is it one you made?
@obsideon1343 Жыл бұрын
So renting apartments/homes with some level of services like a doorman, gardeners, cooks and concierge service. Things you get in NYC and LA.
@EmperorBun Жыл бұрын
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 Жыл бұрын
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 Жыл бұрын
Well these people are apart of a very exclusive group of people that like to shuffle money exclusively between themselves
@stevenfinch2547 Жыл бұрын
the comparison to Alfred is just crazy. He is just building a REIT!
@awesomeblossom2417 Жыл бұрын
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.
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