Andreessen Horowitz just invested millions in Adam Neumann’s new company — and senior correspondent Linette Lopez says it’s a sign the industry is doomed.
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1. Are we on the brink of a VC apocalypse? Senior correspondent Linette Lopez believes we could be. In her latest piece, Linette argues that Andreessen Horowitz’s $350 million investment into Adam Neumann’s new real estate company shows the industry is doomed.
- This week, Marc Andreessen announced a massive investment in Flow, a new real-estate company from Adam Neumann, the controversial founder behind WeWork.
- The idea is, essentially, a rebrand of a venture Neumann launched during the WeWork days, WeLive. Much like WeLive, Flow will own and manage apartments that come with Neumann’s special, culty touch, Linette writes.
- Andreessen’s investment, she continues, demonstrates that he isn’t actually interested in solving America’s housing shortage — and money that could be used to create something productive for society will be wasted.
Read her full analysis here.
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Odds and ends:
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Curated by Jordan Parker Erb in New York. (Feedback or tips? Email firstname.lastname@example.org or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.
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