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Pa pension funds and venture capitalism
Pa pension funds and venture capitalism









“Our company is about we and about collaboration,” Neumann proclaimed. Although WeWork was just two years old, and Neumann was only thirty-two, the company already controlled more than three hundred thousand square feet of office space he declared that WeWork would soon have ten thousand clients. “We’re planning to be all over the country very, very soon,” he said.

pa pension funds and venture capitalism

Neumann told the audience that he ran a company in New York, named WeWork, that was “the world’s first physical social network.” His self-assuredness was mesmerizing. One of the conference’s other speakers was Adam Neumann, a six-foot-five Israeli with flowing black hair, who wore designer jeans and a dark blazer-fancy dress amid the crowd’s T-shirts. In 2012, Neuner went to a co-working-industry conference, in Austin, Texas, to appear on a panel and try to meet investors. They’re the fairy godmothers of success.” funding is the stamp of approval.” He noted, “In every startup story, the V.C.s supercharge everything. They had raised some money from family and friends, but, as Neuner put it to me, “V.C. Neuner and Coonerty also started looking for venture capital. Soon, NextSpace opened locations in San Francisco, Los Angeles, and San Jose. NextSpace provided a refuge for local freelancers desperate for office camaraderie, and within six months the company was turning a small profit. “We really believed that this would be a totally new way of working,” he told me.

pa pension funds and venture capitalism

Neuner, who had attended Harvard’s Kennedy School after serving in the Navy, was looking to be part of a movement. Neuner and Coonerty named their company NextSpace Coworking. They leased a cavernous building a few steps from a surf shop and a sex-toy boutique, and equipped it with desks, power strips, fast Wi-Fi, and a deluxe coffee-maker.

pa pension funds and venture capitalism

In 2008, Jeremy Neuner and Ryan Coonerty, two city-hall employees in Santa Cruz, California, decided to open a co-working space.











Pa pension funds and venture capitalism