Since December 2023 Neumann’s residential real estate venture Flow Global and New York-based hedge fund Third Point have sought to acquire the co-working space startup, which filed for bankruptcy the previous month, according to a letter from Neumann’s lawyers. The letter further accused WeWork’s advisers of stonewalling Neumann, who was ousted from the company in 2019 after a botched IPO. (The New York Times)

Talking point: Neumann’s return to the helm of the company he co-founded would be a plot twist, given the extent to which he was blamed for WeWork’s failings. Yet his bid faces significant headwinds, in part because Third Point’s involvement isn’t entirely clear. The hedge fund “has not made a commitment to participate in any transaction” and had “only preliminary conversations,” a Third Point spokesperson told The Wall Street Journal. Founded in 2022, Flow has reportedly raised US$350 million in venture capital from Silicon Valley financier Andreessen Horowitz.