71–80 of 133 posts
So how's Flowcarbon doing? Was that a good idea?
https://www.vox.com/recode/23142106/adam-neumann-crypto-carb...
https://www.fool.com/investing/2022/07/17/adam-neumanns-new-...
I am surprised to see so many negative responses. I bet most of the people here agree 100% with the problems and structural shifts this memo identified, and that technological innovation in the housing space to facilitate both social cohesion and affordability would be a *very good thing*. Sure, Adam had some highly publicized issues at WeWork. Also, a16z is on a lot of people's shit list right now. Still, why do so…
Sure, just not one led by Adam Neumann or a16z, certainly not one led by both.
Maybe they will do something legitimately good, but from what we know of both of them, it's highly likely that they will optimize for what will increase their respective net worth as fast as possible, no matter the consequences and not for what will have the best impact on society.
And sure they don't have any obligation to optimize for social good, but you can't ask us to be excited about it.
Neumann already had bought close to 4000 apartment in January, presumably linked to this venture. So if you are somehow expecting them to come up with a solution to the affordability crisis, I think you are deluding yourself. It's far more likely that we end up with an airbnb-like for long-term stays that will continue to push the cost of the housing market ever higher, greatly enriching Neumann and a16z in the process. But hey, at least you will be able to book your place for the next 6 months right through an app with a nice UI, you won't need to line up to visit an apartment and it will even come pre-decorated WeWork-style to make you feel right at home!
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 related mission), lease out land on very long terms (like 99 years) with contracts that place limitations on resale of any improvements on the land. These restrictions can make housing permanently affordable, and removes housing on that land from being an asset for speculation. Residents get security from the very long terms of their loans, the governance of their CLT, and ownership of improvements on the land. The CLT can use revenue to create and maintain community amenities.
Sometimes good arrangements already exist, but they're not going to be rapidly scaled up across the country because no investor stands to get a windfall from rapid expansion.
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…
My guess: A network of apartment complexes across the country that you can own equity in the entire enterprise instead of one single home. You can "freely" move between the apartments without having to go through financing etc. This can be interesting with a massive capital and enough time to build out the network but seeing this cocaine addict's name in the mix make me feel this is going to fail fast. Real estate is…
No one seems to understand that Neumann built a massively successful company, because they watch the documentaries and think he’s a scumbag for failing to deliver an IPO.
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.
> 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 This sounds very disingenuous. Starbucks was arguably the first 'community brand' where people would associate one with an informal meeting place rather than to drink a coffee. Even in Silicon Valley, there are cafe chains renowned for this meeting vibe…
Country clubs are a new thing? I'm legitimately curious -- I thought country clubs were a thing of the past. Are they having some kind of comeback?
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