Source: Fortune.com
Summary
Adam Neumann, co-founder of WeWork, is launching a new company called Flow, aiming to avoid the mistakes that led to WeWork’s $47 billion collapse. Neumann reflected on his past, saying he now understands why he failed. He attributed the downfall to a shift in focus from mission to money, particularly after a 2016 meeting with SoftBank’s Masayoshi Son. WeWork filed for bankruptcy in 2023, and Neumann has since tried to buy the company back. He claims he has no regrets and is applying lessons from his past to Flow, which received $350 million in funding from Andreessen Horowitz.
Our Reading
The numbers tell one story.
Neumann’s past is littered with big bets and big losses.
He now claims to have learned from the fall of WeWork.
His new company, Flow, is backed by major investors.
He says failure is not the problem—how you get up is.
Author: Evan Null
Adam Neumann’s New Venture
Adam Neumann, the co-founder of WeWork, is launching a new company called Flow. He claims he has learned from the mistakes that led to WeWork’s collapse. Neumann said he now understands why he failed, pointing to a shift in focus from mission to money.
The Fall of WeWork
WeWork peaked at a $47 billion valuation before collapsing. The company filed for bankruptcy in 2023 with nearly $19 billion in debt. Neumann, who once had a net worth of $4.1 billion, now says he has no regrets about the fall.
Lessons from the Past
Neumann reflected on a 2016 meeting with SoftBank’s Masayoshi Son, which he said changed the course of WeWork. He claimed the company lost its way after receiving a $4.4 billion investment from SoftBank. Neumann said he now measures success by how he feels at the end of his life.
The New Company
Flow, the residential real estate startup Neumann launched in 2022, received $350 million in funding from Andreessen Horowitz. He said he is applying the lessons from WeWork to his new venture. Neumann said he is happier now and believes failure is not the problem—how you get up is.
Neumann’s Philosophy
Neumann said the root of his past problems was how he defined success. He now believes success is about being fulfilled and happy, not just making money. He said he has no regrets and is focused on building something meaningful with Flow. Neumann believes that if you fall, you should get up and try again.
