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☆ Inside Andy Jassy's plan for Amazon in the generative AI era
▼ + stars: | 2024-04-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. By the way, we're wrapping up voting for the championship matchup in our business, tech, and innovation bracket. In today's big story, we're looking at Amazon CEO Andy Jassy's letter to shareholders, which details the tech giant's plan in the age of generative AI . What's on deck:AdvertisementBut first, Amazon, AI, and a letter. The big storyAmazon in the AI ageMichael M. Santiago/Getty Images; Chelsea Jia Feng/BIThe generative AI revolution is coming, and Amazon wants in on the ground floor.

Persons: —, We've, Andy Jassy's, Michael M, Chelsea Jia Feng, Andy Jassy, Ana Altchek, Jassy, that's, Andy Jassy Mike Blake, Eugene Kim, Jassy's, Phillip Faraone, Gregor Fischer, Noam Galai, Here's, it's, Morgan Stanley, Ben Bergman, Rebecca Zisser, Adam Neumann, Neumann, Samantha Lee, Bon Appétit, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Amazon, Getty, AWS, Bridgewater Associates, Pfizer, Reuters, Prime, TechCrunch, Games, New York Times, Visual China, BI, JPMorgan Chase, Citigroup, Coachella Locations: Wells Fargo, New York, London

☆ Adam Neumann deserves a 'second shot', says RSE Ventures CEO
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdam Neumann deserves a 'second shot', says RSE Ventures CEOMatt Higgins, CEO of RSE Ventures, joins CNBC's 'The Exchange' to discuss his thoughts on Adam Neumann's new startup, the viability for success, and more.

Persons: Adam Neumann, Matt Higgins, Adam Neumann's Organizations: RSE, RSE Ventures

☆ Adam Neumann opens up about his billion-dollar plan to transform apartment living and explains why he wants to buy back WeWork
▼ + stars: | 2024-04-11 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

In August 2022, former WeWork cofounder Adam Neumann announced he was back, starting a new company called Flow to transform apartment living. I spoke with residents and staff, but my many requests to speak on the record with Neumann himself were always rebuffed. Whatever happens with Flow, Neumann will always be remembered for WeWork, which he resigned from in 2019. The launch occurs as Neumann is trying to buy back his bankrupt former company for more than $500 million. I think people are skeptical of how Flow is a tech company.

Persons: Adam Neumann, Andreessen Horowitz, Neumann, Neumann's WeWork, it's, We're, we're, It's, WeWork, You've, Ben, Horowitz Organizations: Business Locations: Fort Lauderdale , Florida, South Florida, Fort Lauderdale, Miami

☆ 'I think the VCs won't touch this': Bullpen Capital's Duncan Davidson reacts to Adam Neumann's $1B startup
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'I think the VCs won't touch this': Bullpen Capital's Duncan Davidson reacts to Adam Neumann's $1B startupDuncan Davidson, co-founder of Bullpen Capital, and Dan Primack, Axios business editor, join CNBC's 'The Exchange' to share their reactions to Adam Neumann's new real estate startup, Flow.

Persons: Capital's Duncan Davidson, Adam Neumann's, Duncan Davidson, Dan Primack, CNBC's Organizations: Bullpen Capital

☆ Former WeWork CEO Adam Neumann on his new $1 billion real estate startup called Flow
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer WeWork CEO Adam Neumann on his new $1 billion real estate startup called FlowAdam Neumann, former WeWork CEO, joins CNBC's Deidre Bosa to discuss his new $1 billion real estate startup, his bid to buy back WeWork, and more.

Persons: Adam Neumann, Bosa

☆ Watch CNBC's full interview Adam Neumann on his new $1 billion real estate startup
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview Adam Neumann on his new $1 billion real estate startupAdam Neumann, former CEO of WeWork, sits down with CNBC's Deidre Bosa to discuss the launch of his new Florida-based real estate startup, Flow, his bid to buy back WeWork, and more.

Persons: Adam Neumann, CNBC's, Bosa Locations: Florida

☆ Adam Neumann’s bid to buy back WeWork faces uphill battle due to financing challenges
▼ + stars: | 2024-03-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Adam Neumann has sent a preliminary offer to buy WeWork out of bankruptcy for more than $500 million, five years after he was ousted by the office-sharing company he founded. CNBC spoke with multiple people familiar with the company and Neumann's offer. Investment firm Rithm Capital, which acquired Daniel Och's Sculptor Capital Management in November, is one of parties interested in financing the bid, sources told CNBC. That's because Neumann has previously named other financing sources in prior communications with WeWork's advisors that haven't come to fruition, the sources say. Baupost Group also was floated as a potential financing source months earlier but didn't join Neumann's latest bid, the people said.

Persons: Adam Neumann, Neumann, Daniel Och's, haven't, Dan Loeb's, Baupost, WeWork, — Organizations: CNBC, Rithm, Capital Management, Baupost, Neumann's, Financial Times

☆ Some VCs are over the Sam Altman hype
▼ + stars: | 2024-03-26 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +8 min

In late 2023, when OpenAI sought $300 million from investors, CEO Sam Altman chose a different approach. In some corners of this clubby world, over $7 coffee and artisanal cocktails, the meteoric rise of OpenAI and Sam Altman is giving way to an inevitable backlash. "He's a kingmaker," a Silicon Valley startup founder and angel investor who knows Altman. Sam Altman and OpenAI did not respond to requests for comment. A certain somethingMany of the VCs who spoke with BI said Altman has a certain something.

Persons: —, OpenAI, Sam Altman, Altman, they'd, I've, Ali Ghodsi, Altman's, Ghodsi, Steve Jobs's, Paul Graham, he's, Sam, Jack Altman, It's, it's, Elon, Alexander the Great, Adam Neumann Organizations: Service, NEA, Business, Altman's, The Washington Post, The, YC, BI, WeWork Locations: Sequoia, Silicon Valley, The, San Francisco

☆ Sam Altman's act may be wearing thin
▼ + stars: | 2024-03-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking into how some in Silicon Valley are starting to sour on OpenAI's Sam Altman . AdvertisementFrom hardball tactics when raising funds to relentless self-mythologizing about his role in the future of tech, Altman's act is wearing thin on some . Even VCs uninterested in AI deals are quickly becoming servants to Altman's AI empire. Big market, fall hard.

Persons: —, Baltimore's Francis Scott Key, Sam Altman, Alastair Grant, Rebecca Zisser, Darius Rafieyan, Altman, Elon Musk, à, Steve Jobs, VCs, Samantha Stokes, Eric Baradat, Torsten Slok, David Rosenberg, BofA, Drew Watson, Birkin, Abanti Chowdhury, Elon, Don Lemon, that's, Musk, Mark Zuckerberg, Google's, Meta, Dave Calhoun, Aaron Schwartz, Adam Neumann, Neumann, Robert F, Kennedy Jr, Dan DeFrancesco, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Baltimore Fire Department, Tech, Apple Vision, NFL, ChatGPT, Kruze Consulting, Apollo Global Management, Federal Reserve, Bank of America, Abanti, Getty Images, Street Locations: Silicon Valley, Plenty, Big, Orlando, New York, London, Chicago

☆ Adam Neumann makes a $500 million bid for WeWork: Here's what you need to know
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdam Neumann makes a $500 million bid for WeWork: Here's what you need to knowCNBC's Deirdre Bosa joins 'The Exchange' to report on Adam Neumann's WeWork bid, creditor sentiment to the bid, and more.

Persons: Adam Neumann, Deirdre Bosa, Adam Neumann's WeWork

☆ Adam Neumann makes a $500 million bid for WeWork that could hit $900 million if financing and diligence firm up
▼ + stars: | 2024-03-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Adam Neumann has submitted an unsolicited bid in excess of $500 million to acquire WeWork out of bankruptcy, a person familiar with the matter told CNBC. That bid could go up to $900 million pending due diligence, the person said. Neumann, his family office Nazare, and his Andreessen Horowitz-backed real estate venture Flow filed a notice of appearance in WeWork's bankruptcy docket on Monday. Flow did not respond to CNBC's request for comment regarding the $900 million potential bid. Neumann's bid, which was first reported by the Wall Street Journal, may complexify WeWork's bankruptcy proceedings.

Persons: Adam Neumann of WeWork, Victor Fung Kwok, Adam Neumann, Dan, Neumann, Andreessen Horowitz, —, WeWork, we've, it's, lessors Organizations: Fung Group, CNBC, Board, Wall Street Locations: Shanghai, China

☆ Adam Neumann is trying to buy back WeWork
▼ + stars: | 2024-03-25 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Adam Neumann submitted a bid to buy back WeWork. The WeWork cofounder has been trying to regain control of the company since parting ways five years ago. AdvertisementWeWork cofounder Adam Neumann is trying to regain control of the bankrupt coworking company. Neumann has submitted a bid to buy WeWork for more than $500 million, The Wall Street Journal reported Monday. The move comes after an attorney for Neumann and his new real estate company Flow Global sent a letter to WeWork's lawyers detailing efforts to buy back the company last month.

Persons: Adam Neumann, —, Neumann, Dan Loeb's, hadn't, we've, it's, WeWork Organizations: Service, Street, Flow Global, Business, Wall Street, Flow, Global, Bloomberg, Board

☆ Fastest way to restore Chinese consumer confidence is stabilizing the housing market, says HSBC
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFastest way to restore Chinese consumer confidence is stabilizing the housing market, says HSBCFrederic Neumann, chief Asia economist at HSBC, says although there are policies trying to address that problem, "we haven't seen … quick enough moves to really dispel any concerns around developers."

Persons: HSBC Frederic Neumann Organizations: HSBC Locations: Asia

☆ China doubles down on manufacturing, leaving real estate behind
▼ + stars: | 2024-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China News Service | China News Service | Getty ImagesBEIJING — China revealed this week it aims to spend more than a billion dollars to bolster manufacturing and domestic tech in a bid to remain globally competitive, while divulging little new support for the struggling real estate market. Industrial support clearly ranked first on Beijing's priority list for the year ahead, according to three major plans released this week as part of China's annual parliamentary meetings. Chinese authorities in 2020 intensified a crackdown on real estate developers' high reliance on debt for growth. Within that second priority, the finance ministry said it would allocate 31.3 billion yuan for improving vocational education. The government work report presented by Premier Li Qiang gave real estate a similar level of prominence.

Persons: Frederic Neumann, Li Qiang Organizations: Seres, China News Service, Getty, Ministry of Finance, HSBC, UBS, National Development, Reform Commission Locations: Chongqing, China, BEIJING, Asia, Beijing, U.S

☆ Despite strong Lunar New Year holiday data, consumer spending in China isn’t roaring back just yet
▼ + stars: | 2024-02-19 | by ( Laura He | Marc Stewart | ) edition.cnn.com time to read: +6 min

But according to CNN calculations based on official data, the average tourism-related spending per trip was below pre-pandemic levels, as consumer confidence remains weak amid deflationary pressure. However, the most recent holiday season took place over eight days from February 10 to February 18, which was one day more than previous periods. On average, 59.25 million domestic trips per day were made during this holiday period, slightly lower than the 59.29 million trips per day taken in 2019. Movie ticket sales reached a record 8 billion yuan ($1.11 billion) during the eight-day holiday season, according to data released on Sunday by China Film Administration. “The headwinds to growth remain severe and it will take more than a bump in holiday travel for market sentiment to recover,” said Neumann.

Persons: ” Nomura, ”, Frederic Neumann, Neumann, “ Organizations: Beijing CNN, CNN, Ministry of Culture, Tourism, Hangzhou East Railway, National Immigration Administration, China Film Administration, HSBC, China Index Holdings, Shenzhen Component Locations: China, Hong Kong, Beijing, Hangzhou, China's Zhejiang province, Macao, Asia, Shanghai, Shenzhen

☆ Industrious merges subsidiary to create a new force in coworking
▼ + stars: | 2024-02-12 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

A spokesman for Industrious said it would own a 40% stake in the merged subsidiary. The vacancy rate for office space nationally hit 18.6% at the end of 2023, according to data from CBRE– the highest level since 1992. About 771 million square feet, about twice the size of Manhattan's entire office market, sits empty nationally. How Industrious won the coworking warHodari has been an astute and resilient player in the coworking business. At the time, most coworking companies sought to rent space from landlords then sublease that to their clientele at a hefty markup.

Persons: WeWork, Jamie Hodari, Hodari, Deskpass, Sam Rosen, Deskpass Stephanie Bassos, CBRE, Breather, Rosen, Adam Neumann, Shlomo Silber, Silber, lockdowns, You've Organizations: Business, Deskpass, Bond Locations: New York, Chicago, Breather

☆ Elon Musk's lawyer is helping Adam Neumann as he tries to buy back WeWork
▼ + stars: | 2024-02-07 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Adam Neumann is trying to buy back WeWork, the now-bankrupt company he cofounded. He's being aided by lawyer Alex Spiro, who helped Elon Musk take over Twitter in 2022. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdam Neumann is trying to buy back WeWork – with the help of a lawyer close to Elon Musk.

Persons: Adam Neumann, He's, Alex Spiro, Elon Musk, Jay, Megan Thee, —, Neumann, Quinn Emanuel Urquhart, Sullivan who's, Musk, Spiro, Quin Emanuel, Tesla, Vernon Unsworth, Randeep Hothi, Jeanine Zalduendo, Zalduendo, Bobby Shmurda, Robert Kraft, Dinesh D'Souza, Thabo Sefolosha Organizations: Twitter, Service, New York Times, Bloomberg, Bloomberg Law, SpaceX, Securities and Exchange Commission, JPMorgan Chase, New England Patriots Locations: British, Alameda County, Los Angeles

The number of affordable units — with rents under $600 — also dropped to 7.2 million that year, 2.1 million fewer than a decade earlier. Photos You Should See View All 45 ImagesThose factors contributed to a dramatic rise in eviction filings and a record number of people becoming homeless. "It just hits you like, ‘This is for nothing.’"In Auburn, Massachusetts, pervasive rent hikes have already hit the last bastion of affordable housing. Just off an interstate alongside a pond, residents at the American Mobile Home Park face rent increases upwards of 40%. The group Lawyers For Civil Rights has sent a letter to the landlord accusing it of “unconscionable rent increases," and failing to provide critical services like adequate garbage and snow removal.

Persons: Caitlyn Colbert, Colbert, “, ”, —, Whitney Airgood, Obrycki, ” Colbert, haven’t, Amy Case, Ann Urbanovitch, Zach Neumann, Monique Gant, Gant, Nick Graetz, ” Graetz, Chris Herbert, Jared Polis, ___ Casey, ___ Organizations: DENVER, Harvard Joint Center for Housing Studies, Harvard, Habitat, Humanity, American Mobile, Civil Rights, Associated Press, Colorado Judicial, Community Economic Defense, Princeton, ”, Colorado Gov, America Statehouse News Initiative, America Locations: Denver, U.S, ”, Auburn , Massachusetts, Colorado, Washington, Massachusetts, Boston

NEW YORK (AP) — Adam Neumann, the ousted co-founder of WeWork, is exploring a deal to buy back the office sharing company after expressing dismay over its bankruptcy process. According to Monday's letter, Neumann and his affiliates have been attempting to obtain information from WeWork necessary for a purchase offer since December but have been met with a “lack of engagement” from the company. Neumann founded WeWork with Miguel McKelvey back in 2010. That debacle led to the ousting of Neumann, whose erratic behavior and exorbitant spending spooked early investors. Japan’s SoftBank stepped in to keep WeWork afloat, acquiring majority control over the company.

Persons: — Adam Neumann, Dan Loeb’s, WeWork, Neumann, “, Miguel McKelvey, Japan’s SoftBank Organizations: The Associated Press, Flow Global Holdings, Associated Press, WeWork, Street Journal Locations: —, New York

☆ WeWork cofounder Adam Neumann is reportedly trying to pull a Steve Jobs
▼ + stars: | 2024-02-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Adam Neumann is exploring an offer to buy back the now-bankrupt WeWork, per the NYT. It could be a similar move to Steve Jobs' revival as the Apple CEO, 12 years after he resigned. AdvertisementWeWork cofounder Adam Neumann is exploring an offer to buy the now-bankrupt company, The New York Times' DealBook first reported. Neumann has met with WeWork several times since December to discuss buying it or its assets, or providing it with financing, per the letter. In a statement shared with Business Insider, a WeWork spokesperson said: "WeWork is an extraordinary company.

Persons: Adam Neumann, Steve Jobs, Neumann, Dan Loeb's, —, DealBook, Alex Spiro, WeWork, Jobs, Gil Amelio, Amelio's Organizations: WeWork, Apple, Service, The New York Times, Elon, Flow, NeXT, Macworld, Business

WeWork’s founder is trying to buy itAdam Neumann shot to fame by turning WeWork into a cultural and business phenomenon, before being ousted from the work space operator in dramatic fashion. But for the past several months, he has been trying to buy the now-bankrupt business — with the help of the hedge fund mogul Dan Loeb, DealBook is the first to report. Neumann’s new real estate company Flow Global is pushing WeWork to consider its takeover approach, according to a letter his lawyers sent to WeWork’s advisers on Monday. Flow which has already raised $350 million from the venture capital firm Andreessen Horowitz, disclosed in the letter that Loeb’s Third Point would help finance a transaction. Flow has sought to buy WeWork or its assets, as well as provide bankruptcy financing to keep it afloat.

Persons: Adam Neumann, Dan Loeb, DealBook, Andreessen Horowitz Organizations: Flow

☆ Adam Neumann wants to buy WeWork
▼ + stars: | 2024-02-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdam Neumann wants to buy WeWorkCNBC's Deirdre Bosa reports on the latest news from Adam Neumann.

Persons: Adam Neumann, WeWork, Deirdre Bosa

☆ Former WeWork CEO Adam Neumann's new business venture
▼ + stars: | 2024-02-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer WeWork CEO Adam Neumann's new business ventureCNBC’s Deirdre Bosa joins 'Power Lunch' to discuss WeWork former CEO Adam Neumann's new bid in real estate.

Persons: Adam Neumann's, Deirdre Bosa

☆ Adam Neumann is trying to buy bankrupt WeWork, DealBook reports
▼ + stars: | 2024-02-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Billionaire Adam Neumann is trying to buy back bankrupt real-estate company WeWork, which he founded in 2010 and was ousted from in 2019, DealBook reported Tuesday. Neumann had tried to arrange financing of up to $1 billion in October 2022 but was rebuffed by former CEO Sandeep Mathrani. WeWork advisors resisted Neumann's efforts but eventually suggested that Neumann provide DIP financing instead of a term sheet, according to the letter. Neumann stepped down in 2019 as the company faced mounting investor concerns over its corporate governance and valuation. Third Point, Neumann and Spiro did not immediately respond to CNBC's request for comment.

Persons: Adam Neumann, DealBook, Neumann, Dan Loeb's, Dealbook, Alex Spiro, Sandeep Mathrani, WeWork, Spiro, Read Locations: Neumann

☆ Neumann: We shouldn't over-interpret the signals we're seeing early on in the year from Japan
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNeumann: We shouldn't over-interpret the signals we're seeing early on in the year from JapanFred Neumann, chief Asia economist and co-head of global research for Asia at HSBC, discusses the divergence between the performance of the Chinese and Japanese markets and economies.

Persons: Japan Fred Neumann Organizations: Neumann, HSBC Locations: Japan, Asia

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