a16z GP on investing billions in Adam Neumann • TechCrunch

Andreessen Horowitz (a16z) basic partner Chris Dixon shed some light regarding the firm’s present assets in controversial WeWork creator Adam Neumann on phase at TechCrunch Disrupt 2022.

Neumann raised $350 billion from endeavor company in August in a deal that apparently valued their brand new property endeavor, Flow, at $1 billion before it had also launched.

That investment, which marked the biggest check a16z had ever written for the solitary business as well as its 2nd bet for a Neumann startup in 2022, received critique from VCs and founders. Numerous noted Neumann’s less-than-ideal history at WeWork, which under their tenure tanked in value from ~$47 billion to ~$8 billion and gained a track record of mismanagement and bad remedy for workers.

Marc Andreessen, the endeavor firm’s creator whom led the Flow deal, saw Neumann’s history in a different way, Dixon told interviewer Lucas Matney.

“He’s mostly of the founders — i am talking about, he’s among the only individuals worldwide who’s got built an actual property manufacturer,” Dixon stated.

The funding news in August additionally arrived regarding the heels regarding the launch of WeCrashed, an Apple television+ reveal that depicted Neumann’s increase, autumn and exit from WeWork with star Jared Leto playing the creator. The show, which portrayed Neumann as being a narcissistic, chaotic frontrunner, had been influenced by real activities but couldn’t purport to be always a documentary.

“I understand there’s lots of material discussing [Neumann] and things we did, but we do our personal research. We simply don’t depend on publications and films for the diligence. We do our personal research, and now we simply found yet another summary for a significant just what took place,” Dixon stated.

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