Adam Neumann: This Is How You Build Iconic Companies

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The Housing Crisis: An Assault on Young People

At 1:04:15 · chapter starts 59:40

The conversation takes a harder political edge as Andreessen and Horowitz address the systemic dimension of the problem Flow is trying to solve. The US has a bifurcated housing market: cheap housing in places without good jobs, impossible housing in the cities where the best economic opportunities are. Prop 13 in California, they argue, is a crystalline example of explicit policy designed to benefit older homeowners at the direct expense of younger renters ^{[1] — Adam Neumann "70% of under-40s in the US are renters: 70% of Americans aged 40 and under are renters, spending a third of their income on rent, yet there…" 59:00 Play} . The downstream effects are measurable: birth rates are collapsing in every major city globally, populations are no longer reproducing at replacement levels, and the question of whether young people can form families in expensive cities is becoming increasingly fraught. Neumann adds the deeper moral argument: the concept of 'landlord' goes back a thousand years to feudal arrangements where the lord owned the land and you gave back most of what you produced. At its core, the housing crisis is about the haves and have-nots, and it is the most literal expression of that dynamic. If a person doesn't have a home they feel is theirs, how can you expect them to behave as a full citizen of society? The absence of a thoughtful solution — like Flow — means an entire generation is in serious trouble.

Society & Culture

The Housing Crisis Is an Assault on Young People

Adam Neumann: This Is How You Build Iconic Companies · Jul 8, 2026 Society & Culture

Marc Andreessen and Ben Horowitz are blunt: the US housing market is an active political transfer from young people to boomers, epitomised by California's Prop 13. Unaffordable cities, crashing birth rates, and the impossibility of family formation are the downstream consequences. Flow is one of the few companies trying to solve this at scale.

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If a person doesn't have a home, a shelter, something that they feel that's theirs, how do you expect them to treat other people the way they want to be treated?

Adam Neumann

Adam Neumann: This Is How You Build Ico…

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