Will Adam Neumann Fail Again? ($1 B Value, No Product!)
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- Опубликовано: 19 май 2024
- See 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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Having this dude influencing the housing RENTAL market and in my everyday life sounds like a dystopian nightmare.
Everything is a dystopian nightmare to you people.
with a rising interest rate, his investors are downward stupid.
@@DacLMK to people on youtube..?
he is jewish, was that supposed to be a pun?
Grim gets dark.
This company resonates exactly with "you will own nothing and you will be happy"
Exactly. This is pod world being implemented and that AZ16 company knows it.
No coincidence there I'm sure!
exactly what i thought, they know this is a market ripe for investment and disruption
"you will own nothing and pay for everything to be done for you and you will be happy because we own your money too"
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.
Flow's aim of "giving renters *_a sense_* of security, community and genuine ownership" says plenty about their real intentions.
Keyword is " sense"
Thank GOD some people noticed it. Was starting to lose hope that these kind of slogan and PR Speak gets too many passes.
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").
I wonder how much he'll pay himself for the trademark to his own company's name this time?
@@Pushing_Pixels 2 B
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
You nailed it. -no pun🙃✌
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
"Disrupting the future of living" sounds ominous as hell.
Disrupting the ability of the general public to be able to afford their own house.
@@pieflies sounds like the market is already sufficiently disrupted.
Your house price is only double there? Wow you have got it lucky.
Did you say $1.3 million? Got it, $1.9 million.
The problem with a great majority of these "start-ups" is that they seem to like inventing problems to solve, instead of solving any actual problems.
Damn right. Loved your WeWork video btw!
Literally lol
Bingo you've just become woke
"tech" start ups are just like modern mathematics. solve cases and problems that have no real life value
@@BiigiieCheeese people thought imaginary numbers had no practical use for centuries, and then we found the schrondinger equation. It can take a long time to find a use for it, but pure math gives us the tools, and eventually we find a use. And unlike companies, pure math has never destroyed more money than 99% of us will see in a lifetime.
I don’t need a “sense of genuine ownership”, I just want to own it. Ain’t that hard of a concept to understand.
that is why you and I are thousandaires while Weedboy is attracting 2B$ golden parachutes and 350m$ seed funding.
@@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.
@@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.
@@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.
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.
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?
His big idea is to be a real estate developer. Stunning.
Not even a developer but a landlord lol
Yes, but disruptively. 🤣🤣🤣
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.
But he has a nicer website and logo, so the company is worth billions.
Exactly!
Adam is the epitome of failing upwards.
As long as you can con the already wealthy, you can get away with anything
Little hats.
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.
@@knotscapital Too ethical.
@@jaysdood He.
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.
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.
The church of Adam
@freddycastellanos3783 Well, the synagogue of Adam atleast.
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.
This is great! I am looking forward to WeCrashed season 2.
Hahaha same!
I heard the second season has a crash bigger than the first.
I hope it doesn't happen. I want the new series be called Flop instead of WeCrashed season 2
@@jivasche7345 nah WeCrashed season 2 is better
Would WeFlowed be a better title?
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
Exactly (agreed)
Darwin's economics
He acts like a drain to evacuate all excess of dumb money in the financial system.
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.
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.
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.
Am I the only one who has the words "money laundering" pop up in his head when he hears stories like this?
Yes, you are wrong. This isnt it
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.
Richard Branson can support that :)
Modern business black pill.
He's basically a crook, reminds me of Trump or Kushner.
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.
Exactly. This isn't disrupting anything but their wallets. What a joke.
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.
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
Yeah the skill of bullshit with a sprinkle of privilege
Not a skill....a scam!!
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
Probably invested some of his wealth in the fund with the understanding that the fund invested in his venture at a stupid valuation.
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.
You're getting warmer. hint: SBFried.
@@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.
@@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.
@@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.
Seriously, Why is he not in prison?!?! Who in their right mind would invest in anything this guy is proposing?
He is a perfect encapsulation of the modern age: Clever marketing, cheesy "brotherhood" talk and lies barely covering up a shameless unicorn.
If this doesn't end up as another cult-scam like Adam's last project I will be very much surprised
You mean like all start ups?
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.
Why cult?
@@fidelio9301 youtube was a start up 🤔
@@dodgemF1 Exactly and look at it
"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.
its perfect. "a sense of ownership" thats exactly what the customers get for their cash. no more, no less.
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.
"We'll give you the opportunity to pay a mortgage and maintenance. Just not your mortgage."
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.
@@somethinglikethat2176 who hurt you?
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.
Awesome analysis on Flow! Thanks for the mention too 🙌
VC isn't about good business, it's about finding a greater fool - and as we know there's one born every minute
100%
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.
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.
Exactly another ponzi
@@nycgweed 🤔Yeah it's almost like capitalism promotes exploitation
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.
Thanks! Everything actually makes a whole lot of sense now.
Anyone who goes into business with this guy, really does deserve all they get! Mind boggling!
I'm definitely going to spend a few years building a house one day in a remote location
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.
And it'll take housing off the common market, worsening the housing crisis.
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.
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.
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
Neighborhoods auctioned off to the highest bidder like AirBNB.
How the hell this guy still manages to find CEO jobs is beyond me.
How this guy is sitting at a table with Theresa May is beyond me
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.
He doesn't find CEO jobs, he creates them for himself.
Well, to start with, apparently he is pretty good at lying.
It's easy to be a CEO. Start a company. Make yourself the CEO.
This episode reminded me how much I admire your channel. I got the audiobook too, but that’s like three weeks of my life.
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!
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.
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.
Sorry but if Adam Neumann is getting a second chance at being a scammer, then Elizabeth Holmes should make a return as well 💀
One drop of blood gonna buy you 1% shares... right...right???!!
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
You can't defraud upstanding American war criminals like Henry Kissinger. That's criminal. Defrauding the American public? Have at it!
@SayMyName Now u mention it. Maybe there are some factors of Nepotism/ favoritism in this. Dude probably has some degree of connections
@SayMyName You are so right.
Great one as always 🔥
I’m very much interested in how you go about your research. Please shed light to your approach.
Anyone who gives this guy their money deserves what they get
How is it possible that people continue to look at this like a tech company when it’s literally a normal REIT
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
Because flow.
"elevating the world's consciousness" WTF does that even mean?
It's fluff, like his companies....
What a weird way to say "workspaces with hipster furnishings".
Drugs
Nobody knows what it means but it’s provocative, gets the people going!
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.
hahaha is****
I am not sure just any Jew could profit from this semite boost you claim exists...
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.
"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
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
This guy is just the front man for others in the darkness.
Exacto
Yes, I was thinking the same way.
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.
Money laundring. What else.
So true.
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? 🙂
"disrupt" is my trigger word
can't wait for Elizabeth Holmes's crypto project
Top 🔝 👌😅
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.
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.
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.
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.
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.
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.
MLM at a huge scale.
@@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.
Someone named Ponzi something?
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.
Great video (as usual) thanks Cold Fusion.🌟🌟🌟🌟
Branding rentals is one of those revolutionary concepts you wish you though of, it’s so obvious, but there it is.
Say enough buzz words and you're half way there.
Gonna start calling him Adam "The Magician" Neumann. Can turn air into a billion dollars.
And then he makes it disappear
And vice versa
He turned hot air into millions for himself... and turned billions into millions for Softbank.
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.
Yep, Serve me, I want my house's value to multiply by 4 in 10 years
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.
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.
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
@@philoslother4602 just the four times? Really?
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.
i had a boss like him.... same home country and same mannerisms, also went out of business
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
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.
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.
@@hoangle2483 the unicorn can then get its own building. That's like wanted to be the janitorial company servicing start ups.
@@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.
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.
Curious to see where this goes. Looking forward to a follow up video :)
"being a decent human being isnt part of the job, its nice but its not good business". Bodes really well /s
“Maybe he doesn’t have people’s best interests at heart” 😭🤣
Ya, maybe..
Which one of his tribe have people’s best interests at heart? Zero
Awesome video!! Hopefully it will open some eyes. 👌👏
Thanks for sharing
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
I think the point of the video was to warn viewers to steer clear of the con known as "Flow".
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.
"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.
I don't think he was defending it tho. It seemed like he's just explaining why A16z was willing to give him money
@@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.
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)
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.
You could sub patreon if you really feel that way.
if you’re into soccer, Dagogo also has another channel called Football Iconic
'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'.
4:39 had to double take on the furniture moving there 😂
So it's yet another "landlord company masquerading as a tech company" scheme? Does Newman never learn?
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
@@cloudbloodmusic hahaha he is
@@cloudbloodmusic he is already billionaire
Never learns? Like in "never learns how to make billions"? Well, sounds like he does.
@@bahroum69 He is probably going to earn more from this scheme than all this videos viewers will do combined in their lifetimes.
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!!
Rajnikanth dialogue..?
I’m glad he pointed out that Adam already tried this scam with “we live” and it was a disaster. Flow is probably a rework of we live.
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.
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.
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.
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.
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?
Dagogo, your stuff is the sh*t! Thanks for that!
Since the start of the pandemic I’ve never witnessed so many new billionaires being born.
While small business owners couldn't operate.
The plandemic you mean lmao took em months to react cause they were dumb and greedy. Saw COVID as an opportunity
@@KT-zc7lc you get what’s happening. Those who already have the wealth want their corporate takeover of almost everything
Adam was a billionaire long before the pandemic
"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.
westeal would also be good name companies running guy like he.
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.
This is my favorite video on Adam's new startup. Great analysis and deep dive.
Great channel! more start up stories please!!!
the comparison to Alfred is just crazy. He is just building a REIT!
Hi there, thanks a lot for your work!
I think renters are really getting screwed left right and now by Adam too, a snake is a snake
So happy you are referencing one of my videos and covered the same topic!
Have always loved your videos and you did a great job explaining the topic. Keep it coming with quality content!
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.
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.
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.
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.
@@18booma cries in hunter gatherer.
It wasn’t like this before the Industrial Revolution. Africans may live in mud huts but they’re all content and happy
read some history. It always was
@@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.
"It's one big club and you ain't in it."
- George Carlin
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.
1:58 lmfao heyyy whoa slow down there shooter!
Amazing, everytime he fails, he becomes a new man
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?
Oh ‘em gee I just applied for a job at Flow on LinkedIn. I had no idea he was behind it. Thank you for helping me dodge that bullet.
"WE OWN". EVERYTHING!!!!
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.
Clearly having no conscious is the #1 personality trait to remain in the billionaires club
That and being white.
@@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…
@@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.
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.
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.
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.
When there are 20,000 ShiteCoins and worthless tokens with billions, nothing is sacred. We live in insane times
Adam: I suck at this.
Some people for some reason: GIVE HIM MORE 💸