WeWork’s Adam Neumann’s carbon token startup failed at its one job
The stated mission of Adam Neumann’s Flowcarbon was to “drive billions of dollars directly to projects that reduce or remove carbon from the atmosphere by creating the first open protocol for tokenizing live, certified carbon credits from projects around the globe.”
It seems to have failed at its one job, according to reporting by Forbes: the carbon token startup failed to launch a token.
The startup, which had raised $70 million, has been refunding buyers of its carbon token, blaming “market conditions and resistance from carbon registries.” Alas the so-called “Goddess Nature Token,” which was meant to make it easier for people to participate in the carbon market, never saw the light of day.
This is not Neumann’s first flop. After tanking office rental space company WeWork, the founder has proceeded to fail upward, raising gobs of money for new businesses Flowcarbon and Flow.
The startup, which had raised $70 million, has been refunding buyers of its carbon token, blaming “market conditions and resistance from carbon registries.” Alas the so-called “Goddess Nature Token,” which was meant to make it easier for people to participate in the carbon market, never saw the light of day.
This is not Neumann’s first flop. After tanking office rental space company WeWork, the founder has proceeded to fail upward, raising gobs of money for new businesses Flowcarbon and Flow.
