$ react-native --version
react-native-cli: 1.0.0
react-native: n/a - not inside a React Native project directory

$ cd /tmp
$ react-native init TestApp
This will walk you through creating a new React Native project in /private/tmp/TestApp
Installing react-native package from npm...
module.js:327
    throw err;
    ^

Error: Cannot find module 'yeoman-environment'
    at Function.Module._resolveFilename (module.js:325:15)
    at Function.Module._load (module.js:276:25)
    at Module.require (module.js:353:17)
    at require (internal/module.js:12:17)
    at Object.<anonymous> (/private/tmp/TestApp/node_modules/react-native/local-cli/generate/generate.js:14:16)
    at Module._compile (module.js:409:26)
    at loader (/private/tmp/TestApp/node_modules/babel-register/lib/node.js:158:5)
    at Object.require.extensions.(anonymous function) [as .js] (/private/tmp/TestApp/node_modules/babel-register/lib/node.js:168:7)
    at Module.load (module.js:343:32)
    at Function.Module._load (module.js:300:12)

/tmp/TestApp/package.json

{
  "name": "TestApp",
  "version": "0.0.1",
  "private": true,
  "scripts": {
    "start": "node node_modules/react-native/local-cli/cli.js start"
  },
  "dependencies": {
    "react-native": "0.29.0"
  }
}