101–110 of 133 posts
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Say what you will about Adam Neumann, but he didn't commit fraud
Neumann bought ownership stakes in properties which he then leased to WeWork. I don’t know if this meets the legal definition of fraud but it’s absurdly shady, a clear conflict of interest. https://techcrunch.com/2019/01/16/we-company-ceo-in-hot-wate...
Conflict of interest? Probably
Fraud? Almost certainly not
Maybe the solution to the housing crisis is to build more affordable housing and to eliminate the practice of using housing as an investment / safe place to park money. Also, outlaw or heavily regulate Airbnb. I don't think another VC-funded app with cool branding is going to save us.
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Neumann bought ownership stakes in properties which he then leased to WeWork. I don’t know if this meets the legal definition of fraud but it’s absurdly shady, a clear conflict of interest. https://techcrunch.com/2019/01/16/we-company-ceo-in-hot-wate...
Fraud: “wrongful or criminal deception intended to result in financial or personal gain.” Not sure that fits as I assume it was both legal and didn’t involve any deception.
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Perhaps you don't owe notorious characters better, but you owe this community better if you're participating in it.
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> While the top VC players may have earned the respect by themselves being visionary entrepreneurs (once, decades ago in many cases), the rest of the VC market is filled with also-ran investors who have never been practicing entrepreneurs, following markets like lemmings and looking for a relatively quick buck while not even understanding the markets they invest in. When I hear someone is an investor, especially if t…
Becoming a villain is a choice. There are plenty of counterexamples in our industry, folks who succeeded in tech and/or finance and didn't go on to make investments in fraudsters and whole industries of fraud.
I think not everything needs a venture-backed, take-over-the-world solution. For the issues being raised here (home ownership is inaccessible to many, renters don't have stability, security), aside from greater protections for renters, another class of existing solution is Community Land Trusts. These organizations retain ownership of the land, have a charter that's targeted at keeping housing affordable (or some rel…
It's sickening. These people don't care about improving people's living conditions. They care about extracting more and more and more money by exploiting a crisis that they have had a hand in creating.
Let's see if innovation, driven by greed, can change it.
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It's sickening. These people don't care about improving people's living conditions. They care about extracting more and more and more money by exploiting a crisis that they have had a hand in creating.
Status quo is not ideal and I don't trust the government to do what is necessary to alleviate the situation. Let's see if innovation, driven by greed, can change it.
I see a lot of confusion over why anyone would want to take a stake in an Adam Neumann biz. Some guesses… VCs are looking for return, and quickly, which is why they have glommed on to crypto projects. In the old model, you invest money, wait 5-10 years, and get a payoff when the company goes public or gets sold. With crypto, there is a much more immediate payoff with unregistered securities, AKA “tokens”. And then ma…
There are few industries as cynical as venture capital. They won't ever invest in projects explicitly designed for public welfare because "the economics don't work" or "the innovation isn't there". But they will invest eye-watering sums into financing student newspapers for the middle-aged (Substack) or 'turn your car into a public taxi' businesses, knowing that 90% of them won't amount to anything.
Anyone know what this magical idea is? Color me skeptical, but the deliberately vague strawman arguments in the post read between the lines to be something like: "If you're a homeowner we want to your equity and if your a renter we want your rent". I don't harbor any illusions that flow wants to help anyone but themselves. I have no idea what flow actually is, but if it's something like "airbnb but permanent on the b…
Apartment buildings with amenities and probably an app to unlock your door. Incredible.
> The second model: you rent an apartment, but: it’s a soulless experience; do you even meet your neighbors, much less have any friends in your complex? Does it feel like home, or just a place to sleep? Are you proud to bring friends and family to visit, or hesitant? Excuse me, what? I've absolutely met my neighbors. In past buildings in Brooklyn I've gone out to dinner with some, spent hours on the stoop having conv…
This is so classist (not your comment but op). To imply that folks who don't own their home shouldn't/couldn't be "proud" to bring their loved ones there. Are you kidding me? Entire generations, communities, families have lived and died in rental housing. Entire swaths of the population. This shows very little respect for them.