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Malibu resident Josh Waldbaum looked down at the Rolex watch clasped to his wrist one day in 2008. Just days before, the item served as a testament to his success as a private fitness trainer, his social status and his worth. It was now worthless to him.
“I had no job, I had nowhere to live and I had about $100 in the bank,” Waldbaum said. “I thought, ‘All this watch does is tell time. I’ll make my own watch.’”