Adam Neumann, the founder of Flow, expressed his admiration for the Kingdom and revealed his interest in launching a real estate startup there
During a conference organized by a nonprofit backed by a sovereign fund in Saudi Arabia, Adam Neumann, the founder of Flow, expressed his admiration for the Kingdom and revealed his interest in launching a real estate startup there. Neumann referred to Saudi Arabia as a "startup country" and praised its leadership, including the royal family, for their vision and enthusiasm for new technologies. He also emphasized the importance of community-centric housing and its role in fostering a sense of safety and security.
Ben Horowitz, a venture capitalist and co-founder of Andreessen Horowitz, shared Neumann's sentiment and expressed his excitement for bringing Flow to Saudi Arabia. He described his frustration with the lack of progress in the US after his colleague, Marc Andreessen, called for a movement to build and innovate. Horowitz then recounted his positive experiences meeting with Saudi Arabia's sovereign wealth fund governor and the Saudi Ambassador to the US, both of whom expressed their eagerness to work with Flow.
Neumann's interest in Saudi Arabia highlights the Kingdom's growing appeal to investors as the US continues to grapple with economic challenges. The enthusiasm and praise from Neumann and Horowitz also demonstrate a shift in investors' attitudes towards the Kingdom, indicating their willingness to explore new opportunities there.
Flow, Neumann's new residential real estate company, aims to become the community-centric housing version of WeWork, which Neumann co-founded but was later ousted from following a failed public offering attempt. Neumann believes that having a sense of community is crucial for individuals to feel grounded and protected, which is why he is passionate about creating residential spaces that foster these feelings.
Neumann also believes that artificial intelligence and other technologies hold the potential for significant changes in the world. He stressed the importance of focusing on positivity and how leaders like the royal family of Saudi Arabia can help guide us towards a better future.
Overall, Neumann and Horowitz's enthusiasm for Saudi Arabia's business environment and their interest in launching a new real estate startup there demonstrate the Kingdom's growing appeal to investors. Their positive experiences meeting with Saudi Arabia's leadership, coupled with their passion for community-centric housing and new technologies, suggest that the Kingdom may be a significant player in the future of innovation and entrepreneurship.