Planet Business: Helen MacNamara’s Covid testimony, We Work’s imminent bankruptcy and invitees to Bletchley Park
Private valuation reached by WeWork in January 2019 after a series of investments in the real estate company led by Japan’s SoftBank. This was the peak of ... something.Valuation the company was hovering at on Wednesday after reports that it would file for bankruptcy protection in the US next week sent its share price tumbling even lower. It has lost 98 per cent of its value this year.
But for all his expletives, it was MacNamara’s quietly damning testimony the following day that was the more compelling. The former deputy cabinet secretary spoke of a “macho” and “toxic” culture at Number 10 where women were on the receiving end of “very obvious sexist treatment”. Meetings in early 2020 were “unbelievably bullish” and characterised a “de facto assumption that we were going to be great”, not like those lockdown-imposing Italians.
MacNamara, who was fined for attending one of the “Partygate” leaving parties , also spoke of the “horrible” moment in mid-March 2020 when she realised Downing Street’s bid to avoid lockdown would not work and the delay in issuing a stay-at-home order would “kill thousands of people”. They were, she said at the time, “absolutely f***ked”.
2. Elon Musk: X, formerly Twitter, has more than halved in value since Musk bought it a year ago. What better genius to be “in conversation with” the British prime minister about AI eliminating jobs?
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