

WeWork Goes Bankrupt & Trump Takes the Stand
Nov 7, 2023
Donald Trump’s civil fraud case unfolds as he takes the stand, revealing insights into his business valuations. WeWork’s dramatic bankruptcy highlights the pitfalls of inflated property valuations. In a legal showdown, Epic Games challenges Google over app store practices, igniting discussions on developer rights. The rise in celebrity memoirs captures public fascination, while Bumble’s new CEO faces dating app challenges. Trends in employment show surprising stability, contrasting the past Great Resignation.
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Trump's Combative Testimony
- Donald Trump's testimony in a civil fraud case included calling the judge biased and the case crazy.
- The case centers on Trump inflating asset values, including Mar-a-Lago, to secure better loan terms.
Mar-a-Lago Valuation Discrepancy
- Mar-a-Lago's valuation is disputed, ranging from $18-37 million by tax assessors to Trump's claim of $1.5 billion.
- Discrepancies arise from different valuation methods; assessors consider income, while Trump cites potential resale value.
WeWork's Downfall
- WeWork's bankruptcy stems from unfavorable long-term leases signed at the market's peak.
- The pandemic's impact on office spaces exacerbated their financial struggles, leading to significant losses.