The Lessons Learned from Trump University

Trump University, also known as the Trump Wealth Institute and Trump Entrepreneur Initiative LLC, was a for-profit education company that operated a real estate training program from 2005 to 2010. Originated by Donald Trump and his associates Michael Sexton and Jonathan Spitalny in 2004, this organization was a part of The Trump Organization. While it claimed to offer courses in real estate asset management, entrepreneurship, and wealth creation, the university was not an accredited institution. It did not confer college credit, grant degrees, or grade its students.

Types of Courses Offered

The university offered a variety of courses, including an Entrepreneurship course that was advertised as a life-changing opportunity. However, the reality was quite different. The course included audio materials and books, and the content was largely similar to what one could find on the internet. Despite this, the course was touted as having a miraculous impact, akin to Aladdin's magic lamp. Unfortunately, the content was not as transformative as students were led to believe.

Regulatory Actions and Legal Issues

In 2011, the New York Attorney General's office initiated an inquiry into Trump University for illegal business practices. Later, in 2013, a lawsuit was filed by the state of New York, alleging that the course was fraudulent. The organization was also the subject of two class-action lawsuits in federal court, with the primary allegations being the use of misleading marketing practices and aggressive sales tactics.

Student Experiences and Successes

As someone who enrolled in one of the courses, the experience was quite disillusioning. The course did offer useful advice, but it was not the miraculous experience that was advertised. The course materials were essentially the same as those available on the internet, making the significant cost questionable.

Comparisons with Other Projects

Trump University was not the only venture that failed. Other projects associated with the Trump Organization, such as the Trump Taj Mahal in Atlantic City and Trump Vodka, also did not meet expectations. These failures highlight the broader issues with the company’s business strategies and the need for more vigorous oversight in the education and real estate sectors.

Renewed Scrutiny and Campaign Insults

Durango Business Journal (now referred to as Riverside County Record) further highlighted the fraudulent allegations against Donald Trump. In 2011, the California businessman Charles Porter Jr. even filed a lawsuit on behalf of consumers across the United States who had purchased courses from Trump University. Additionally, during Trump's primary presidential campaigns, he called Gonzalo P. Curiel, who ruled against the Trump Organization, a "hater" and described him as "Mexican," which is highly problematic and insulting.

Overall, Trump University serves as a cautionary tale about the regulation and oversight required in the education sector, particularly for for-profit institutions. The experience offers valuable lessons about realistic expectations in educational and business ventures and the importance of consumer protection laws.