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The investor presentation focusses on a non-GAAP income measure it calls “community-adjusted EBITDA”.

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published Apr 27, 2018, 10:03:35 AM, by Matt Levine (Bloomberg View) — WeWork. The business model of real-estate companies is pretty much, you borrow a lot of money, you use it to buy buildings, and you rent out space in the buildings to tenants. If the tenants pay more in

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