and the fall of adam newman formed the basis of the series did not work, you will sink the ship.. nomu ball investment 350 million dollars for a new startup flow, while no one really knows anything about the project itself. it is known that we are talking about a new housing rental service newma, for this i bought 3,000 apartments. all over america, this is another adventure. it may again turn out to be fraud or a complete failure of management in the sense that exists today, and today many words change the meaning of whether fraud remains police recession fraud, or both of these definitions can be explained through the concept of poor management, in other words, complete irresponsibility, it would be worth considering. was the company ever a technical start, of course, with such a financial assessment. yes, there is also the support of the world's largest investors, or themes and software, the bank, and this whole project failed like a roar, collapsing in the assessment of 407 billion dollars to 4. and now the same thing is happening, by the way, the startup has not even been la

else to explain the hundreds of millions in venture capitol suddenly pouring into we work founder adam newman's real estate start up, yeah, that adam who's profit spending imploded we work's ipo. silicon valley adventure inventor joining us on the state of start up nation. closing bell 49 minutes away and dow up 185 points and i caution you, it had been higher by 368, coming down a bit. s&p flat as a pancake and the "claman countdown" is just getting started. don't go away. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network and most recommended wireless carrier. that's a whole lot of happy campers out there. and it's never too late to join them. get $450 off any new purchase of an e

adam newman native, israel's good evil principle of the american model. as investments, both corporations and other countries, as well as its own citizens, the us public debt today has rolled over a record 30 trillion dollars the mayor of new york openly says that the country is in a financial crisis. sharp turd. and the recession has already begun the president. america holds a poker face, we will not have a recession. now our unemployment rate is still one of the lowest in history, we see that the population still continues to invest. i hope that our rapid economic growth will soon take hold. so you can expect some downturn. but god forbid we will not see a recession. well, judging by the forecasts of experts, american citizens are investing their money in a soap bubble the printing press, which was launched in the united states, has already led to a record inflation over the past 40 years. household energy bills have risen by an average of 50% over last year. about 20 million american households were unable to pay their utility bills ladies and gentlem

adam newman, a native of israel, has mastered the principles of the american economic model well.money as investments, both corporations and other countries, as well as its own citizens, the us government has rolled over records of 33 million dollars today, new york marian openly says that the party is in a financial crisis. acute shatter. and the recession has already begun the president. america keeps a poker face, we won't have it in the process. now we have the unemployment rate is still one of the lowest in history, we see that the population is still continues to invest. i hope that our rapid economic growth will be consolidated soon. so you can expect some downturn. but god forbid we don't see a recession. well, judging by the forecasts of experts, american citizens. nvidia in the soap bubble the printing press, which was launched in the usa, has already led to a record inflation over the past 40 years , the population's electricity costs have increased by an average of 50% compared to last year, about 20 million american families were unable to pay utility bills ladies and

but all of it pointed to adam newman as the ceo. and while he definitely had his faults, i think it's more about the cracks in the system. so you not only had adam as the ceo, but you had a very junior leadership team that wasn't diverse, they didn't have a lot of diverse thinking that was brought to the table. >> in your book, you mentioned two of my favorite people. chip created the hotel chain, and patty ran hr at netflix. she invented hr at netflix. what did you learn from them? >> i just have so much respect for both of them. and side note, i think they're both just fun to be around. patty, i interviewed her for the book, i had a pain in my side because i was laughing so much. but netflix, you know, she spearheaded that whole culture deck with what a lot of us are familiar with especially in silicon valley. and i think she inspired me to think beyond values and go to more of that behavioral concept. so netflix, you know, over ten years ago, identified what are those kind of 15 to 20 core behaviors that we expect from everybody i

a new real estate company from adam newman.y recall it was knewman who was behind we-work, the overhyped office space sharing company. once valued at $43 billion. before going through a disastrous attempt to go public. as our next guest writes, the flow deal is one of the most sufficient ways i've ever seen silicon valley light money on fire. not only does this idea not fix a problem that our country actually has, it is going to be run by a person who grows a business with all of the discipline of a 6-year-old on a sugar high let loose in a water park. don't mince words. let's bring in lynette lopez who covers politics and economics and international markets and that was an excerpt from her latest piece which is entitled "if you f up in the biggest ways you could be redeemed,". silicon valley just handed $350 million to the guy who crashed we-work. lynette, what is flow? and what is going here? >> flow is, well nothing yet. it seems. but it is going to be a residential real estate company that purchases or partners with residen

what is adam newman's angle? >> it feels like -- and again the details are so sketchy. s the part of the reason there is skepticism, i feel like adam neumann is trying to do something similar to what he did with which was -- wework, which was commercial real estate, now we have apartments, and give it a tech sheen. that worked for quite a while. we saw the valuation climb to something like $50 billion. in then it fell apart. but we have now is a much more conventional real estate company that a lot of investors lost a lot of money and. it is hard to understand why andries horowitz would be writing such a check. you -- maybe this is a contrarian angle. it seems weird to be backing a billionaire at this current angle, but mark andries is more successful than i am. maybe he know something. emily: -- blossom is $9 billion on we work. why would he think that is knocking to be his fate? is he being hoodwinked? >> adam neumann, if you read published accounts, was effective at talking rich people out of their money. that may be part of what's going on here. andries recent clearl

20 times revenue by the time we come out of the trough >> you are saying there are folks besides adam newmanve him money? >> clearly there are smarter people above my pay grade who believe in him i will trust in their ability and track record to figure that out. but for us we've been making investments as well. we're very happy with the companies we invested in epic games owns fortnite, unreal engine this is one of the biggest and best known game developers in the world doing billions in revenue and dominating the marketplace for over a decade. we invested in a fintech company but look at one of the largest uk-based fintech companies in the market they're completely crushing it we love that industry. we love that market. and then my sleeper. the publishing company platform called automatic they power 40% of all websites on the internet and they have a direct competitor to shopify in their commerce business that they have. so, yes, investments are happening and we're able to get great companies at huge discounts from distressed sellers. and we love it >> well, that whole coin base and crypto

. >>> up next, we will talk to bill smith he's the man that tech crunch dubbed the anti-adam newman. he just secured a major funding round for his rental concept that's looking to compete with the wework's latest venture. the dow is down about 47 points. we did gopositive at the start of the hour. it was the second attempt of the day. we were down more than 300 at the lows you're watching "closing bell" on cnbc. this is not just laundry. this is laundry that's smarter than the dial, with ge profile smarter wash technology. more care for your cashmere. more power for your workout gear. this is smarter sensing and dispensing. fully optimized cleaning, no more guessing. getting the best out of everything that goes in. ♪♪ this is smarter cleaning. this is ge profile. the thing that's different about a vrbo vacation home. you always have the whole place to yourself. just you and your people. ♪ ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed m

talk bed bath >> wait a second, you were going somewhere with this idea >> the rental idea i saw adam newman has a new plan for rental >> you know, the building plates for many of the midtown skyscrapers, for example, do not lend themselves easily to being repurposed >> why is that we have a repurpose going on right next to us >> the older buildings do. i'm not an rchitect, i don't even pretend to play one on tv >> i'm saying if you have a great need for rental, maybe -- >> what i want to talk about is anybody getting -- we're never getting back to five days a week how about four >> no, it's all -- >> three three? i think three. >> it's by whatever you think is right. >> tuesday, wednesday, thursday. >> there's an empowerment of young people because they can get a lot of jobs. they can determine >> that's going to end >> it's going to end it's not >> leverage is going to go back to the employer at some point. >> when? david, demand doesn't exist anymore. there is no demand >> i think it will and you'll start to see people show up in the office more often. never going back to five days a week

redesigned the office experience and led a paradigm change in the company adam neumann andreessen is referring to wework which newman mismanaged the company has lost nearly half of its market value. you can see it trading around $5 now. kanyi, i interviewed adam neumann at the peak. i actually went to a lot of the wework events where they would have all of their creators he is a very inspiring person. you can still create a good business you can spend too much you can have governance issues what are you hearing in the bay area here he is, bay area pretty critical of his fall last time around >> yes there are a couple factors at play the first i guess is looking at what happened to wework in the first place. the truth about wework is it was a cultive personality going too far and an issue of investors not frankly being as judicious as they could have been, as they should have been with the growth of the company the vast majority of investors on the board when they were going great were totally cheering for effectively redlining that business and it turned around and became a disaster we all shared some culpability to