Marc Andreesen has what my old boss used to call a “move the needle” problem ... the more you have in assets, the more it takes to move the needle. That can make you do some very strange things. Buffet has the same problem but Buffet has the discipline (and freedom due to the fund structure) to just stay in cash for extended periods of time, and just be patient. Once you have a move the needle problem and if you get desperate enough, you might find yourself buying lottery tickets, which is what might be happening here. Given his history, I wouldn’t trust Neumann a dime even if he had a bullet-proof business - but hey, I don’t have quite the same “move the needle” problem either, so what do I know!
Marc Andreesen has what my old boss used to call a “move the needle” problem ... the more you have in assets, the more it takes to move the needle. That can make you do some very strange things. Buffet has the same problem but Buffet has the discipline (and freedom due to the fund structure) to just stay in cash for extended periods of time, and just be patient. Once you have a move the needle problem and if you get desperate enough, you might find yourself buying lottery tickets, which is what might be happening here. Given his history, I wouldn’t trust Neumann a dime even if he had a bullet-proof business - but hey, I don’t have quite the same “move the needle” problem either, so what do I know!
"All that money has got to go somewhere and what is more cash consumptive than a real estate business with Adam Neumann at the helm?" 👏👏👏