Monday, August 15, 2022

What Could Go Wrong

The WeWork guy and real estate? Just throw money at him!
Neumann’s new company Flow wants to transform the residential rental real estate market. Notably, it has the financial support of Andreessen Horowitz, the prominent Silicon Valley venture capital firm that was an early investor in everything from Facebook to Airbnb.
I'm sure this vision of disruption is like the vision of all 2010-era dotcom companies. You know, we'll have a ping pong table and a keg in the common area! Like guys missing college, but slightly different.
Andreessen said in the blog post that he was interested in Flow because the rental real estate market is ripe for disruption. That’s especially true, Andreessen said, now that more and more people are working from home and “will experience much less, if any, of the in-office social bonding and friendships that local workers enjoy.” He also hinted that the company might try to address one of the biggest challenges renters face: “You can pay rent for decades and still own zero equity — nothing.”
Sleazy terms that let you work towards 10% equity and make you on the hook for building repairs, probably. After all, you "own" it!