Former WeWork CEO Adam Neumann has a lot of experience innovating in real estate. In addition to WeWork, he founded Flow, a new, Florida-based residential real estate company that truly breaks new ground. But lately, he has focused on an interesting piece of East End real estate — although it’s technically only a few inches long and wide.
Neumann has bought and is relaunching Whalebone, a bimonthly magazine based in Montauk that billed itself as the “ninth best magazine in the world,” and renamed it The Flow Trip. While real estate companies routinely publish glossy brochures, Flow hopes to go further with its own magazine, whose name is written in a fun, groovy font.
“Not much is changing in these parts,” The Flow Trip announced along with the rebranding. “Thankfully for us it’s the same team, same dog, but just with a new name and improved look that, we feel, better aligns with our new partners at Flow.”
It has, however, a new owner, which marks a new chapter for Whalebone along with its new name. Apparel designer Jesse Joeckel in 2010 launched Whalebone as a clothing brand that soon took on the second incarnation of a magazine.
Where did he get the name Whalebone? Joeckel said his grandfather trained retrievers to hunt, giving his parents one by that name that became the family pet and the company namesake.
“One of the last dogs he trained was named Whalebone, which he gave to my parents shortly before I was born,” Joeckel has said. “And I chose the name Whalebone to remind me of where I come from and the attention to detail everything you care about should have.”
Neumann in May 2024 acquired Whalebone as part of a new real estate venture backed by venture capitalists.
“The Flow Trip is the media side of that with quality storytelling, content and experiences that showcase what Flow is all about,” according to The Flow Trip.
Neumann launched Florida-based Flow in 2022 along with a $350 million investment from Andreessen Horowitz. While much of that has surely gone into acquiring real estate and daily operations, building a company also involves building a brand.
“This is actually a very unusual use of VC money,” Emily Sundberg wrote on her blog on Substack. “In theory you’re supposed to use VC money to scale your original idea or something close to it.”
Flow itself is something new and consistent with Neumann’s earlier ventures, seeking to create real estate with a twist in the residential space, after doing so with the workplace.
“Although Flow is Neumann’s new act, it mirrors his old one,” according to The Real Deal. “His WeWork was built on the concept of shared office spaces and building community … Flow is meant to take a similar approach to apartments.”
As The Real Deal describes it, Neumann views himself as transforming an “isolationist way of living with little interaction among residents into a community with a shared purpose.”
Sound familiar?
While there may be meat on that bone, it will need marketing and a means of getting the message out, which could include a magazine.
The Real Deal quoted Neumann at an event held by venture capital firm Andreessen Horowitz about what he’s trying to do.
“We want to create an elevated experience for the resident,” Neumann said.
He wants to create community and culture, which could explain the venture into acquiring a magazine as a microphone, marketing tool and means of getting people to go with the Flow lifestyle.
According to Neumann, 70% of people 35 and younger rent, making his venture a likely target for young renters. While he talks about providing a sense of ownership, renters cannot buy their properties, but he hopes they will be part of a community.
Neumann began betting on his new venture even before the big money began to flow in.
The Real Deal reported that, before formally launching Flow, entities linked to Neumann bought buildings, including a 34-story, 639-unit building in Fort Lauderdale, 444-unit Caoba tower in Miami and 268-unit building in Nashville.
As for lovers of apparel, they can still find their beloved Whalebone brand, although it won’t be directly affiliated with the magazine.
The clothing will continue to be sold at the Whalebone flagship, 28 S. Etna Avenue, in Montauk, and at whaleboneapparel.com.
“The magazine is off on a new path,” according to the publication.
The Flow Trip is “putting a pause” on The Surf Thing and The Golf Thing events the magazine had hosted, but plans to launch events in New York, Miami and around the world.
Their stores on Bleecker Street in Manhattan and Montauk are “currently closed.” So if the surf’s up, it looks like that retail wave has broken.
“Thanks for the memories and to anyone who ever came by and grabbed a coffee or patted the dog on the head,” The Flow Trip writes. “And who knows what the future holds?”
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