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(CNN)   WeFail founder to move on to residential properties   (cnn.com) divider line
    More: Sad, Venture capital, Startup company, Neumann's newest venture, Andreessen Horowitz, prominent venture capital firm, residential real estate company, Dot-com bubble, Private equity  
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605 clicks; posted to Business » on 16 Aug 2022 at 11:35 AM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



27 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-08-16 10:26:51 AM  
Awesome! How can I get in early on a chance to lose 95% of my investment's value?
 
2022-08-16 10:27:24 AM  
I like a good sequel, but hate how long the streaming services make you wait for them. At this rate we may not get season 2 until 2024.
 
2022-08-16 10:59:57 AM  
Hello...Neumann.....
 
2022-08-16 11:39:31 AM  
I love how valuations are thrown at the wall to see what shiat sticks.

All of these start-ups and other bullshiat that have been going on for probably the last decade are more of a scam and fraud than crypto.
 
2022-08-16 11:39:56 AM  

beezeltown: Awesome! How can I get in early on a chance to lose 95% of my investment's value?


Send me a check for $1 and you'll get a check for $0.05.

/not including international fees, so 95% is approximate
 
2022-08-16 11:51:05 AM  
The dude got some massive GTFO package last go round. And it's not his money at stake. What does he have to lose?
 
2022-08-16 11:54:09 AM  

sephjnr: beezeltown: Awesome! How can I get in early on a chance to lose 95% of my investment's value?

Send me a check for $1 and you'll get a check for $0.05.

/not including international fees, so 95% is approximate


I'm disrupting this market.  Use my app to call a driver to come pick up the check.  Another driver will deliver you a check for $0.05 later that same day.  How convenient is that?

Can't wait for the VC money to start pouring in.
 
2022-08-16 11:56:20 AM  

pearls before swine: sephjnr: beezeltown: Awesome! How can I get in early on a chance to lose 95% of my investment's value?

Send me a check for $1 and you'll get a check for $0.05.

/not including international fees, so 95% is approximate

I'm disrupting this market.  Use my app to call a driver to come pick up the check.  Another driver will deliver you a check for $0.05 later that same day.  How convenient is that?

Can't wait for the VC money to start pouring in.


Fark it. I just put a dime in my couch cushions and I'm beating the shiat out of the index!

/NFTs available, if you're interested
 
2022-08-16 12:01:41 PM  
Ok, so the massive influx of wall street money into residential real estate pulled back like 6-8 months ago? They're all at various decision points about the market liquidity and rental markets, and the price of their financing. Even if this is a good business to get into, he's someone without expertise in the industry. But he's late to the party, and for all the access he might have to financing of his own, he still can't compete with Blackrock. Anyone who opens their checkbook for this chuckle fark deserves what they get, but why the hell do the markets not laugh him out of the room?
 
2022-08-16 12:24:05 PM  
Dude must have purchased the Repeat tag.
 
2022-08-16 12:35:36 PM  

hackalope: Ok, so the massive influx of wall street money into residential real estate pulled back like 6-8 months ago? They're all at various decision points about the market liquidity and rental markets, and the price of their financing. Even if this is a good business to get into, he's someone without expertise in the industry. But he's late to the party, and for all the access he might have to financing of his own, he still can't compete with Blackrock. Anyone who opens their checkbook for this chuckle fark deserves what they get, but why the hell do the markets not laugh him out of the room?


Because it's Other People's Money.
 
2022-08-16 12:46:59 PM  
Why do these people, who have so much money, apparently, never have the ability to find a barber?
 
2022-08-16 12:47:16 PM  

hackalope: Ok, so the massive influx of wall street money into residential real estate pulled back like 6-8 months ago? They're all at various decision points about the market liquidity and rental markets, and the price of their financing. Even if this is a good business to get into, he's someone without expertise in the industry. But he's late to the party, and for all the access he might have to financing of his own, he still can't compete with Blackrock. Anyone who opens their checkbook for this chuckle fark deserves what they get, but why the hell do the markets not laugh him out of the room?


The big investor RE boom was back in 2008 to 2010 when Tim Geithner created a special committee to bundle the thousands of homes in mortgage default and he sold single family homes for around $500 each, but you had to "qualify" and buy them in tranches of hundreds of homes.  The private equity and REITs then had full time staff do the minimum maintenance on the homes then rent them  out.  Their ROI has been huge since hone values have tripled over the last ten years and it's all gravy.
Not sure what Neumann is up to, maybe rent to own?  Weekly rentals?
 
2022-08-16 12:54:20 PM  
I've watched a docuseries, a docudrama series, and a standalone 1 hour documentary about WeWork and this conman.  Who on Earth would trust this huckster?
 
2022-08-16 1:09:27 PM  

tricycleracer: I've watched a docuseries, a docudrama series, and a standalone 1 hour documentary about WeWork and this conman.  Who on Earth would trust this huckster?


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2022-08-16 1:17:13 PM  
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2022-08-16 1:21:50 PM  
It's not immediately clear how Flow seeks to revolutionize the residential housing industry.Flow currently has a bare bones website, with the slogan "Live life in flow" and two words stating it will launch in 2023.

Andreessen positioned the new company as a long-awaited solution to the nation's "housing crisis." He used a mix of jargon-filled terms - "community-driven, experience-centric service" - to explain how the new startup would "create a system where renters receive the benefits of owners."


It's just property management, and WeWork was just office space.
 
2022-08-16 1:22:05 PM  

Northern: The big investor RE boom was back in 2008 to 2010 when Tim Geithner created a special committee to bundle the thousands of homes in mortgage default and he sold single family homes for around $500 each, but you had to "qualify" and buy them in tranches of hundreds of homes.


I was more thinking along the lines of Opendoors and Zillow, but really? I believe it, but that still doesn't stop the shock. Got a background link handy?
 
2022-08-16 1:47:36 PM  

hackalope: Northern: The big investor RE boom was back in 2008 to 2010 when Tim Geithner created a special committee to bundle the thousands of homes in mortgage default and he sold single family homes for around $500 each, but you had to "qualify" and buy them in tranches of hundreds of homes.

I was more thinking along the lines of Opendoors and Zillow, but really? I believe it, but that still doesn't stop the shock. Got a background link handy?


Look up Brett Christophers Antipode magazine, January 2022 pages 130 to 152.  The role of the state in transfer of value.....
It's a long winded summary of how governments took distressed assets post 2008 crisis and gave them for very little money back to the same institutions that caused the crisis.
I swear there were a series of damning stories on Geithner in the New Yorker between 2008 and 2012 on this subject in detail that have been erased from Google.
 
2022-08-16 1:58:39 PM  

Rapmaster2000: It's not immediately clear how Flow seeks to revolutionize the residential housing industry.Flow currently has a bare bones website, with the slogan "Live life in flow" and two words stating it will launch in 2023.

Andreessen positioned the new company as a long-awaited solution to the nation's "housing crisis." He used a mix of jargon-filled terms - "community-driven, experience-centric service" - to explain how the new startup would "create a system where renters receive the benefits of owners."

It's just property management, and WeWork was just office space.


I'm curious as to what benefit owners have over renters that renters would want.  Paying for their own repairs?
 
2022-08-16 2:00:50 PM  

Northern: hackalope: Northern: The big investor RE boom was back in 2008 to 2010 when Tim Geithner created a special committee to bundle the thousands of homes in mortgage default and he sold single family homes for around $500 each, but you had to "qualify" and buy them in tranches of hundreds of homes.

I was more thinking along the lines of Opendoors and Zillow, but really? I believe it, but that still doesn't stop the shock. Got a background link handy?

Look up Brett Christophers Antipode magazine, January 2022 pages 130 to 152.  The role of the state in transfer of value.....
It's a long winded summary of how governments took distressed assets post 2008 crisis and gave them for very little money back to the same institutions that caused the crisis.
I swear there were a series of damning stories on Geithner in the New Yorker between 2008 and 2012 on this subject in detail that have been erased from Google.


Um... The New Yorker would sit idly while Google filters access to its own content? Have you tried searching on the New Yorker site itself? Would be curious to read up on it.
 
2022-08-16 2:25:09 PM  

tricycleracer: Rapmaster2000: It's not immediately clear how Flow seeks to revolutionize the residential housing industry.Flow currently has a bare bones website, with the slogan "Live life in flow" and two words stating it will launch in 2023.

Andreessen positioned the new company as a long-awaited solution to the nation's "housing crisis." He used a mix of jargon-filled terms - "community-driven, experience-centric service" - to explain how the new startup would "create a system where renters receive the benefits of owners."

It's just property management, and WeWork was just office space.

I'm curious as to what benefit owners have over renters that renters would want.  Paying for their own repairs?


Unless you're receiving equity then there are zero advantages to being a homeowner.  I'm currently dealing with a lousy contractor right now.  Do renters want to get in on that?
 
2022-08-16 2:47:00 PM  

beezeltown: Awesome! How can I get in early on a chance to lose 95% of my investment's value?


There was a "news by google" clip that mentioned a new crypto-based sports bookie.  Presumably a use for those new 240Hz monitors so you can see "and its gone" in real time.
 
2022-08-16 4:21:32 PM  

Rapmaster2000: tricycleracer: Rapmaster2000: It's not immediately clear how Flow seeks to revolutionize the residential housing industry.Flow currently has a bare bones website, with the slogan "Live life in flow" and two words stating it will launch in 2023.

Andreessen positioned the new company as a long-awaited solution to the nation's "housing crisis." He used a mix of jargon-filled terms - "community-driven, experience-centric service" - to explain how the new startup would "create a system where renters receive the benefits of owners."

It's just property management, and WeWork was just office space.

I'm curious as to what benefit owners have over renters that renters would want.  Paying for their own repairs?

Unless you're receiving equity then there are zero advantages to being a homeowner.  I'm currently dealing with a lousy contractor right now.  Do renters want to get in on that?


Equity, the right to make income from the property, the right to make changes to the property.  There are advantages to being an owner.  But none of them are going to flow to renters under this scheme.
 
2022-08-16 4:54:39 PM  

hackalope: Ok, so the massive influx of wall street money into residential real estate pulled back like 6-8 months ago? They're all at various decision points about the market liquidity and rental markets, and the price of their financing. Even if this is a good business to get into, he's someone without expertise in the industry. But he's late to the party, and for all the access he might have to financing of his own, he still can't compete with Blackrock. Anyone who opens their checkbook for this chuckle fark deserves what they get, but why the hell do the markets not laugh him out of the room?


I'm willing to bet that their business model is churched up short term housing. They'll sell the idea as 'live in the city center this month, next month live next to your office! For a subscription you can select your living plan, amenity package, and roommate tier! Live untethered, live in the Flow.'
It's gonna be all kinds of terrible where you cannot live in the same residence for more than 30 days.
 
2022-08-16 5:51:40 PM  
Northern:

Not sure what Neumann is up to, maybe rent to own?  Weekly rentals?

To fit his statement that it's the renter, rather than the owner, who will profit, that sounds right.

But isn't that just another term for mortage?
 
2022-08-16 6:13:52 PM  
"So I got this great new idea for a business. Timeshares. On the Blockchain."

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