WeWork Founder Adam Neumann’s New Company Already Has $1 Billion Valuation and People Are Skeptical: ‘Fool Me Once…’

thewrap.com:

site set aside for it, you won’t get any information on what Flow actually is. But it’s a project aimed at “connecting people through transforming their physical spaces and building communities where people spend the most time: their homes,” according to one of its investors.That investor is Andreessen Horowitz, a massive venture capital firm that was an early investor in companies like Facebook and Airbnb.

The company has invested $350 million, marking the largest individual check Andreessen Horowitz has ever written, and it values Flow at more than $1 billion.In all, the project sounds pretty similar to WeWork – something Andreessen Horowitz noted in a statement explaining its investment – and while the firm considers it an exciting and “natural” return for Neumann, Twitter lit up on Monday with mockery of the idea and many guessing that Neumann’s business tactics haven’t exactly changed since WeWork.“Fool me once, shame on you.

Fool me twice, here’s $350M from Andreessen Horowitz,” one person joked.“I wonder what about Adam Neumann’s history and CEO experience caused A16Z to believe he was worth trusting with $350 million,” another said.Fool me once, shame on you.

Fool me twice, here's $350M from Andreessen Horowitz https://t.co/bzEdT9koYvI wonder what about Adam Neumann's history and CEO experience caused A16Z to believe he was worth trusting with $350 million.https://t.co/lVTKzuikTUOf course, Neumann’s history as a business founder has been well documented, most recently in the AppleTV+ series “WeCrashed,” starring Jared Leto as Neumann and Anne Hathaway as his wife, Rebekah.