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Andreessen Horowitz (a16z) normal companion Chris Dixon shed some gentle on the agency’s current investments in controversial WeWork founder Adam Neumann on stage at TechCrunch Disrupt 2022.
Neumann raised $350 billion from the enterprise agency again in August in a deal that reportedly valued his new actual property enterprise, Circulate, at $1 billion earlier than it had even launched.
That funding, which marked the biggest examine a16z had ever written for a single firm and its second guess on a Neumann startup in 2022, drew criticism from VCs and founders. Many famous Neumann’s less-than-ideal observe report at WeWork, which below his tenure tanked in worth from ~$47 billion to ~$8 billion and gained a fame for mismanagement and poor therapy of workers.
Marc Andreessen, the enterprise agency’s founder who led the Circulate deal, noticed Neumann’s observe report in a different way, Dixon advised interviewer Lucas Matney.
“He’s one of many few founders — I imply, he’s one of many solely folks on the earth who has constructed an actual property model title,” Dixon stated.
The funding information in August additionally got here on the heels of the discharge of WeCrashed, an Apple TV+ present that depicted Neumann’s rise, fall and exit from WeWork with actor Jared Leto enjoying the founder. The present, which portrayed Neumann as a narcissistic, chaotic chief, was impressed by precise occasions however didn’t purport to be a documentary.
“I do know there’s a variety of stuff written about [Neumann] and issues we did, however we do our personal analysis. We simply don’t depend on books and films for our diligence. We do our personal analysis, and we simply got here to a distinct conclusion on a variety of what occurred,” Dixon stated.
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