Andreessen Horowitz's investment into Adam Neumann's new real estate company shows the industry is doomed
Andreessen Horowitz just invested millions in Adam Neumann's new company — and senior correspondent Linette Lopez says it's a sign the industry is doomed.
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1. Are we on the brink of a VC apocalypse? Senior correspondent Linette Lopez believes we could be. In her latest piece, Linette argues that Andreessen Horowitz's $350 million investment into Adam Neumann's new real estate company shows the industry is doomed.
- This week, Marc Andreessen announced a massive investment in Flow, a new real-estate company from Adam Neumann, the controversial founder behind WeWork.
- The idea is, essentially, a rebrand of a venture Neumann launched during the WeWork days, WeLive. Much like WeLive, Flow will own and manage apartments that come with Neumann's special, culty touch, Linette writes.
- Andreessen's investment, she continues, demonstrates that he isn't actually interested in solving America's housing shortage — and money that could be used to create something productive for society will be wasted.
In other news:
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3. Leaked messages show some Github employees are upset the firm is willing to "sell out our users" to Facebook. Earlier this month, the Microsoft-owned repository where over 83 million developers store and share their coding projects announced plans to loosen its widely beloved privacy policy — and employees are not taking it lightly. Here's what they're saying.
4. Apple could host its iPhone 14 event as soon as September 7. Bloomberg first reported that the company will unveil its iPhone 14 lineup — which is expected to include the base iPhone 14, the iPhone 14 Pro, and others — at the show. Get the latest on the product launch event.
5. Some Microsoft employees are "underwhelmed" by the company's promised raises. In May, the company promised widespread raises, meant to keep workers from going to rivals like Amazon. Some workers told Insider the raises aren't enough to keep them at Microsoft, and September 15 — the date they'll roll out — could kick off an employee exodus.
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8. Airbnb is using new tech to prevent parties in the US and Canada. A new tool will "help identify potentially high-risk reservations" by using criteria like how far the guest lives from the listing, whether the booking is on a weekday or weekend, and the length of the trip. More on Airbnb's "anti-party tools."
Odds and ends:
9. Dodge is dropping gas-powered Challenger and Charger muscle cars in 2023. To bid adieu to the gas-powered sports cars, Dodge will be unveiling seven special edition Charger and Challenger models. Get the latest on the new "heritage-influenced" models.
10. An Insider reporter ranked eight streaming services. Insider's Travis Clark pays nearly $90 a month for streaming services including Amazon Prime, Apple TV+, and HBO Max. While he found HBO Max has the best selection of quality TV, others have perks, too. Here's his full ranking.
What we're watching today:
- Some 5,000 competitors will partake in the Pokemon World Championships today.
- The World Robot Conference starts today in Beijing, China.
- Sean Connery's 1964 Bond Car will be offered at auction.
- Axios is hosting a discussion titled "Reducing Recidivism Through Technology" at 12 p.m. ET.
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Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.