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Charles Hoskinson, the pioneer behind Cardano, has responded to Andreessen Horowitz’s (a16z) interest in Adam Neumann’s new residential real estate organization, Flow.
In a tweet recently, Hoskinson responded to the insight saying Andreessen Horowtiz is investing 300 Million USD in Flow. Horowitz valued Flow at One billion USD.
Despite the fact that Hoskinson didn’t let out the slightest peep, the gif recommended that he was frustrated and disappointed by the turn of events.
The Controversial Past
Hoskinson’s response to the improvement is justifiable, considering that Neumann was frequently connected with a controversial past.
Neumann had endeavored to take WeWork public, however fizzled. His shot at an IPO finished in a fiasco to the degree that heavyweight financial backers from Wall Street needed to pay him roughly $1 billion to leave the organization.
While Neumann was going through WeWork’s activity, the organization’s valuation plunged from 47 Billion USD to 8 Billion USD. These instances and few others procured Neumann a standing for blunder and unfortunate treatment of workers.
However, despite Neumann’s dusty past, a16z still composed its biggest individual check to his forthcoming organization Flow as much as $350 million.
The Conceptualization
“We comprehend that it is so hard to fabricate something like this, and we love seeing looped founders expand on past victories by growing from instances,” a16z said in an explanation regarding the 350 Million USD investment.
Andreessen Horowitz’s interest in Flow denotes the second speculation it will make in Neumann’s partnered organization.
In May 2022, a16z put $70 million in an organization helped to establish by Neumann named FlowCarbon, a blockchain-based carbon credit stage.
In the meantime, Hoskinson could be dampened about Andreessen’s speculation in view of financial speculators’ constant absence of help for the Cardano project. A16z is one of the organizations that has put vigorously in the crypto area. The organization put away an incredible $2 billion for crypto projects.
In spite of its attention on cryptos, a16z has still not thought about putting resources into Cardano. “I’m continuously asking why VCs and crypto media love specific alts and can’t stand Cardano. Can’t sort it out,” Hoskinson said in May
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
