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Opinion
Lionel Laurent

Adam Neumann’s Cult of ‘We’ Is Now the Cult of Web3

There was another project from the WeWork founder before the new $350 million real-estate startup: carbon credit crypto. It says a lot about what techno-optimism gets wrong.

“Lessons learned”: Adam Neumann, co-founder of WeWork, in October 2021.

“Lessons learned”: Adam Neumann, co-founder of WeWork, in October 2021.

Photographer: Bloomberg/Bloomberg

WeWork co-founder Adam Neumann’s redemption story has begun, according to Silicon Valley legend Marc Andreessen. His venture-capital firm has poured $350 million into Neumann’s residential real-estate startup Flow, citing the entrepreneur’s “lessons learned” — an understatement considering WeWork’s rollercoaster ride from $47 billion flexible-office giant to its near-collapse.

Perhaps unsurprisingly, there’s no mention of a smaller investment that is also a redemption of sorts: Neumann’s championing of tokenized carbon credits via a startup called Flowcarbon, which is apparently unaffiliated with Flow though both are backed by Andreessen Horowitz.