“Neumann turned a (nominally) $47bn company into a $2.9bn company. In a sane and just world, he wouldn’t see a dollar of funding for the rest of his life.”
Meta lost $13.7 billion on the metaverse and fired 11,000 people, and its stock jumped double digits. Uber posted a $1.21 billion quarterly loss and got praised for 19% booking growth. Andreessen Horowitz backed Adam Neumann again after WeWork. Markets pay for growth, so the companies that break their own products get paid the most.