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Adam Neumann is attempting to buy his way back into WeWork

2024-02-06T20:00:00-05:00

Five years after driving WeWork into the ground, co-founder and ousted CEO Adam Neumann has now hatched a plan to buy it out of bankruptcy. In a letter to WeWork’s advisers obtained by The New York Times, Neumann and his new real estate business, Flow Global, express interest in buying the co-working space solution — but claim WeWork has been ignoring attempts to get more information so they can come up with a bid.

WeWork, meanwhile, is beginning to walk away from even more properties under the direction of new CEO David Tolley after announcing an initial list of 40 that would be relinquished in November.

Neumann had cited outside scrutiny as his main reason for leaving the company in September 2019. His attempts since December to purchase the company through his new housing startup Flow Global constitutes the second such push since Bay Area financier Dan Loeb funded the project in August 2022. The return-to-office downturn is being cited as their principal motivation. In a letter to WeWork advisers, Neumann's attorney said it would be a "value-maximizing transaction for all stakeholders."

WeWork currently owes about $18.6 billion in debts, according to their Chapter 11 bankruptcy filing from November.

WeWork co-founder Adam Neumann is getting into the housing market with a new startup

2022-08-16T18:49:00-04:00

WeWork co-founder Adam Neumann is once again making waves with the announcement of a new startup called Flow that’s being funded by early Airbnb investors Andreessen Horowitz and is promoting itself as a real estate startup that aims to revolutionize the residential housing industry.

The $350 million deal is said to be the largest in the Silicon Valley fund’s 13-year history and brings Flow’s initial evaluation to exactly $1 billion, a pittance when compared to the $47 billion figure WeWork received in 2019 thanks to SoftBank. The company’s operation will officially begin next year, according to the New York Times’ DealBook page, which first reported the news late Monday.

“We love seeing repeat-founders build on past successes by growing from lessons learned," Marc Andreessen stated, referring to Neumann's well-documented past. “The successes and lessons are plenty.”

Neumann has repo...

Luftwerk's FLOW/Im Fluss to illuminate Chicago's Couch Place alley with screens made of water

2014-09-11T17:06:00-04:00

Crafty space manipulator Luftwerk will showcase FLOW/Im Fluss, a nightly light and water installation at Chicago's Couch Place alley on September 17-20 from 5 p.m. to midnight. Luftwerk, the Chicago-based collaborative established by Petra Bachmaier and Sean Gallero, is best known for their signature medium of site-specific light and projected video installations.

Presented by the Chicago Loop Alliance, the Goethe-Institute Chicago, and the Natural Resources Defense Council, Luftwerk's FLOW/Im Fluss celebrates the 20th Anniversary of Sister Cities Chicago and Hamburg. As a nod to each city's river locations, the installation visualizes the characteristics of the Chicago River and Hamburg's River Elbe through video compositions that will be projected on "screens" made of water.

Having lived in both cities, Luftwerk is based on the encompassing, connective nature of water in FLOW as people gather to get a closer look at the flow of data readings collected from both rivers. Adding sound ...

SXSW 2012: Can Physical Architecture And Interaction Design Achieve Transcendence?

2012-03-12T14:10:00-04:00

The way to find the sort of transcendence Coulter is looking for is to achieve "flow" [...]. Simplistically, flow is when someone becomes one with an experience, whether that be contained in a game or a building. This type of flow is present in "Snake the Planet!", which merges interaction design and architecture.