- Adam Neumann launches WeWork rival called Workflow
- New venture rethinks coworking business model
- Neumann emphasizes lessons learned from WeWork’s collapse
Second time’s the charm?
Adam Neumann, the controversial WeWork co-founder, is back in the coworking game. His new venture, Workflow, operates under Flow, his residential real estate company.
This time, Neumann claims he’s learned from past mistakes and is taking a more cautious approach.
A twist on the old formula
Workflow’s business model differs from WeWork’s ill-fated strategy. Instead of signing long-term leases, Workflow will utilize space in Flow-owned residential buildings and partner directly landlords. This approach aims to sidestep the financial pitfalls that led to WeWork’s downfall.
Slow and steady
Neumann told Bloomberg he’s embracing a more disciplined approach, backed by Andreessen Horowitz investors.
He emphasized lessons learned, including the need to slow down, listen carefully, and avoid making plans based on assumptions. The entrepreneur claims he’s approaching Workflow “humility” and a willingness to learn.
