In this podcast, the hosts discuss Trump's civil fraud case, the bankruptcy of WeWork, and the Epic Games vs. Google trial. They also explore the trend of workers not quitting their jobs.
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Quick takeaways
Former President Donald Trump testified in a civil fraud case for inflating his assets and faces potential financial penalties.
WeWork's Chapter 11 bankruptcy filing highlights the challenges and need for new revenue streams in the coworking industry.
Deep dives
Former President Trump testifies in $250 million civil fraud case
Former President Donald Trump testified in a $250 million civil fraud case where he is accused of inflating his assets to obtain better loan terms and policies. The judge has already ruled that Trump is liable for fraud, and the trial will determine the extent of the financial penalties and Trump's future business prospects in New York. The valuation of Mar-a-Lago, Trump's Florida estate, is a key focus of the case, with the judge finding that Trump exaggerated its worth by as much as 2,300 percent.
WeWork files for Chapter 11 bankruptcy protection
WeWork, the embattled coworking company, has filed for Chapter 11 bankruptcy protection. The company's rapid expansion and long-term lease obligations, coupled with the impact of the pandemic on the office sector, led to significant financial challenges. WeWork's bankruptcy filing allows it to renegotiate leases and alleviate some of its debt burden. This collapse highlights the challenges faced by the coworking industry and the need for new revenue streams in a mature market.
Epic Games and Google go head-to-head in trial over app store fees
Epic Games and Google are engaged in a trial over app store fees. Epic, the maker of Fortnite, wants to sell in-game items without paying the fee imposed by Google's Play Store. The trial, which is a jury trial unlike the previous case against Apple, could have significant implications for Google's alleged monopoly on Android app stores and payment methods. The outcome of the trial may impact the app store market share and could potentially make Android phones less secure.
Episode 186: Neal and Toby discuss the Donald Trump civil fraud case involving his business and property valuations. Plus, WeWork finally files for bankruptcy and Google takes on Epic Games in a second anti-trust lawsuit. Toby shares his favorite trends of the week and Bumble gets a new CEO. Finally, why are there so many celebrity memoirs and what made Barbara Streisand call Tim Cook?