Web3 supports changing everything!
Nope! You are too naive.
Although a16z wrote some fantasy Web3 stories, it does not mean they are all experts.
They seem to be walking toward the 3AC legendary journey to crash their funds in no time.
Who is Neumann?
Neumann rug pulled investors in Web2 from his company WeWork. He lied to investors and delayed IPO for the company he founded as long as he could to drain away funds into his own pocket.
He knew his company could not survive long, and the idea was borrowed in the 60s that would not work at that time. So he withdrew $700M and walked away.
From WeWork to WeCrashed, it only took him nine years and stole investors' funds, and he walked away freely.
Neumann's Vision
Neumann got a new hustle - real estate.
He started buying apartment buildings of some 4,000 apartments worth about $1B.
The company he founded with Joel Schreiber is another scam.
History of Real Estate Investment
Real estate investment is magic. It seems to exist, but it never worked, just like his invention in WeWork.
The most extended real estate industry runs in the world is Amsterdam. It took 400 years to make a return on investment.
thegoldobserver.substack.com/p/amsterdam-re..
History shows that when a country depends on its housing market to grow the economy, it always collapses because landlords increase the rent price to force everyone into the street and trigger a revolution to overthrow the rulers.
Why does Web3 invest in the Housing Market?
If the housing market is a bubble, why invest?
Everyone sees the housing market as a passive income king. However, the reality is that the economy's fundamentals have been weakening.
When more cash fuels into the housing market to inflate the bubble and the government does not allow the bubble to pop, we are creating a nuclear bubble that will explode the entire system.
If Web3 is another fuel for a nuclear bubble, why do we invest our time in the first place?
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Photo by Breno Assis on Unsplash
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