WeWork
To be clear, Flow is in the pre-launch and pre-product stage, so there is a lack of known details about the exact nature of its business. However, early reports indicate some overlap with WeLive which was WeWork's effort to bring communal living at scale in the same way that it changed offices.
Yet, the bigger story may be that Neumann is getting a second-chance with VCs lining up to back him especially given the blowup at WeWork, mismanagement, and reports of quasi-criminal or fraudulent behavior. And, there is the bitter taste left for many employees and investors who walked away with nothing, while Neumann left with close to a billion.
The flip side is that many describe Neumann as incredibly charismatic and a brilliant salesman as he was able to constantly raise money at WeWork at loftier and loftier valuations to keep expanding his empire. And, a lot of this money came from sophisticated investors.
Clearly, Neumann's charm is still intact as there was heavy interest in his startup. Neumann's downfall has been documented and become its own mini-industry with a hit podcast, best-selling book, and a TV show on AppleTV
Of course, the news also drew controversy and criticism especially given the complaints about Neumann's behavior and toxic environment at WeWork. Others see this Flow as Neumann's opportunity for redemption. In a blog post, VC Marc Andreesen wrote that Neumann is "a visionary leader who revolutionized the second largest asset class in the world - commercial real estate - by bringing community and brand to an industry in which neither existed before."
He continued that regardless of WeWork's demise, it's also true that Neumann 'fundamentally redesigned' what an office could be and that his firm is excited to back Neumann as he does the same for the residential real estate market.
