Tuesday, September 24, 2024

Starting a new book! - Value-based Pricing : 12 Lessons to Make Your Transformation Successful by Stephan M. Liozu

Starting a new book! Value-based Pricing : 12 Lessons to Make Your Transformation Successful by Stephan M. Liozu Pricing Book Club - book #1 “…This is Stephan Liozu’s fifteenth book on value and pricing management. It offers a deep dive into value-based pricing methodology, focusing on what it takes to successfully conduct value-based pricing transformations and large-scale initiatives. Stephan shares his extensive knowledge and the lessons he has accumulated over 15 years of work, study, and writing on this topic. Having worked on a dozen value-based pricing transformations, he presents 12 crucial lessons that can help pricing leaders and practitioners design and execute value-based pricing more effectively. This book follows Stephan’s 2016 book Dollarizing Differentiation Value, which provides a more technical and methodological perspective on value-based pricing. Value-based pricing is not suitable for every organization. Some companies may benefit more from improving their cost-based pricing and pricing discipline. Others should focus on building a strong foundation in customer centricity and competitive understanding before embarking on a value-based pricing journey. This book provides a realistic view of what it takes to undertake such a journey. Its purpose is not to advocate for universal adoption of value-based pricing, but to discuss the prerequisites, conditions, and key success factors necessary for pursuing it, without guaranteeing success. This is the challenge. While cost-based pricing can have an immediate impact, investing in value-based pricing requires a higher upfront cost with no clear guarantee of positive results. This presents a conundrum. However, companies that have fully invested in value-based pricing and followed most of these lessons have experienced great success in their transformations. Value-based pricing, when combined with excellence in business strategy and innovation, can help companies achieve unprecedented levels of operating income. These 12 lessons have been tested in several workshops at professional pricing conferences and have resonated with many pricing practitioners. I hope they will resonate with you too. Enjoy the journey! …” https://www.goodreads.com/book/show/217771598-value-based-pricing?ac=1&from_search=true&qid=5giUlRpf6C&rank=2

- Pedro

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Monday, September 23, 2024

These are the two new books you need to read about AI by The Economist

Of >100 AI books just published last year; the Economist recommends these 2 that should be read by all that have an interest on the subject: Feeding the Machine: The Hidden Human Labour Powering AI. By James Muldoon, Mark Graham and Callum Cant - darker side of AI Co-Intelligence: Living and Working with AI. By Ethan Mollick - a practical and more positive way to think about the interaction of people and AI Both were added to my wish list! These are the two new books you need to read about AI https://www.economist.com/culture/2024/08/08/these-are-the-two-new-books-you-need-to-read-about-ai from The Economist

- Pedro

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Sunday, September 22, 2024

La palabra saber - Martin Caparrós

“…Quizá hoy Kant tendría que clamar “Dubitare aude!” y convencernos, por fin, de que en principio no sabemos nada y que saber no es un estado sino un recorrido y que cada paso debe ser un riesgo y que hay que darlos con los ojos muy abiertos. Como decía aquel famoso poeta inglés, citado hasta el hartazgo: “Saber o no saber, esa es la cuestión”. Y, aún así, nunca se sabe…” Una pequeña perola de Martin Caparrós! ¡Disfrutad tanto como yo lo hizo! https://elpais.com/eps/2024-09-21/la-palabra-saber.html

- Pedro

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And if you could predict a Tipping Point?

Tipping point definition- (i) the moment of critical mass, the threshold, the boiling point…[where] Ideas and products and messages and behaviors spread like viruses do or (ii) the point at which a series of small changes or incidents becomes significant enough to cause a larger, more important change. I would say that is the moment we stop being at a normal distribution and start seeing Power Laws in play and it is kind the holy grail for the prediction domain and applies from financial markets, economy evolution, book sales…. up to biology, After the fact everyone could see it :-), but no one could detect it before (and the ones who could…were lucky). At least up to now, as it seems some researchers in China were able to proof (study published in the Journal Physical Review X, that with the help of AI they could identify the tipping point ex-ante in complex systems. Unfortunately, as in many AI algorithms on the algorithm knows what specific features and patterns allowed them to identify the tipping points, being currently the work of the team to try to understand what those are. Nonetheless, something to keep your eyes on. AI can predict tipping points before they happen https://www.economist.com/science-and-technology/2024/07/17/ai-can-predict-tipping-points-before-they-happen from The Economist

- Pedro

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Five books recommended by the Economist that address the Glory and Flaws of the Olympics

Do you like Sports overall and the Olympics in particular? If yes, five books recommended by the Economist that address the Glory and Flaws of the Olympics to help you go through this 4-year hiatus. All added to my wish list. The Games: A Global History of the Olympics. By David Goldblatt. The Perfect Mile. By Neal Bascomb. The Amateurs: The Story of Four Young Men and Their Quest for an Olympic Gold Medal. By David Halberstam The Sports Gene. By David Epstein. Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup. By Andrew Zimbalist https://www.economist.com/the-economist-reads/2024/07/11/five-books-on-the-glories-and-flaws-of-the-olympics

- Pedro

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HUD - Augmented reality offers a safer driving experience by the Economist

Head-up displays, are headsets that produces three-dimensional images that appear to be belonging to road ahead, thus provide clear information on navigation, vehicle performance, provide warnings, highlighting potential dangers resulting in safer and distraction-free driving. Its technological evolution throughout the years has been significant, but it is expected to pick up the pace in the near future (a potential demand CAGR of 24% until 2034). A technology to keep on your radar, at least until the full self-driving (level 5) cars are not a reality! An industry to be on my/your radar. Augmented reality offers a safer driving experience https://www.economist.com/science-and-technology/2024/07/24/augmented-reality-offers-a-safer-driving-experience from The Economist

- Pedro

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My Substack Summer

Highlights

☕ I read the most in the evening

💌 I subscribed to 5 new Substacks

📽️ I watched 140 minutes of video

❤️ I liked 4 posts

📜 I scrolled 11 meters in Notes

🕵️ I discovered 2 new posts via Notes

Top Substacks

Silver Bulletin by

Essays and analysis about elections, media, sports, poker, and all the other things I care about.

Top post this summer: We removed RFK Jr. from our model. But it didn’t hurt Kamala.

Beyond Euclid by

Beyond Euclid! A digital publication that brings you only the high-quality math and science stuff to ensure you are having a good week.

Top post this summer: Beyond Euclid - #133

Experimental 361 by

A continuation of the Experimental 361 blog and Twitter account, providing data visualisation and analysis of football.

Top post this summer: Squad churn: how recognisable will each team be this season?

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You can see your own summer recap in the Substack app. I’d love to see what you’ve been reading.

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Saturday, September 21, 2024

“Would you know, based on an educated model, what would be the range that the stock price of the company you work for should be priced?” - 96.96% would say no

Linkedin Poll on: “Would you know, based on an educated model, what would be the range that the stock price of the company you work for should be priced?” Out of the 345 persons (641 views) that saw this poll, only 9 voted :-) not a huge success, but a huge thank you to all the have voted. Although I would prefer having a bigger sample, will use Bayes' Theorem to update my beliefs and my conclusion is that 96.96% of respondents would say NO to the following question "Would you know, based on an educated model, what would be the range that the stock price of the company you work for should be priced?", based on the survey results... remember I started with a 90% baseline. Nothing like using this method in your simple problems so you can make it a habit while making your more important decisions! How did I arrived to the result: Baseline is: P(NO)=90% & P(YES)=10% After the survey i have observed that P(Survey|NO)=78% & P(Survey|Yes)=22% Thus, applying Bayes Theorem, the new probability of NO is: P(NO|Survey)= (P(Survey|NO)* P(NO)) / P(Survey) & P(Survey) = P(Survey|NO)*P(NO)+P(Survey|Yes)*P(YES) thus P(Survey) = (0.78*0.9)+(0.22*0.1)=0.724 thus P(NO|Survey) = (0.78*0.9) / 0.724=96.96%

- Pedro

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Do you love football? Would you like to take your knowledge to the next level?

Do you love football? Would you like to take your knowledge to the next level? Don’t miss this series by John Muller from the “The Athletic”. I can tell you I learnt much more than I was expecting, after being a huge football fan for almost half a century! “…In this ongoing series, John Muller takes a closer look at the mechanics of the game, one little piece at a time, comparing how different teams play — and why — to help make football make sense….” https://www.nytimes.com/athletic/5036774/2023/08/16/how-football-works-contents/

- Pedro

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The first six books of the elements of Euclid now available online by Harvard Library

The first six books of the elements of Euclid, with colored diagrams by Byrne was just made available by Harvard on Library (see below). This book is the “oldest math book” and of foundational relevance to mathematic as science (geometry). When Plato founded the Academy, back then the intellectual pinnacle of science, he engraved at its entrance “ΑΓΕΩΜΕΤΡΗΤΟΣ ΜΗΔΕΙΣ ΕΙΣΙΤΩ” (“Let no man ignorant of geometry enter.”) Below me, myself and I with the hard cover of this classic that I have in my library. https://iiif.lib.harvard.edu/manifests/view/drs:500797094$1i?utm_source=substack&utm_medium=email

- Pedro

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El tiempo Lunar

Sabias que el tiempo pasa más rápido en la Luna, aprox. 1 segundo cada 50 años? Pues yo no lo sabía e es fruto del efecto de la gravedad ya que su efecto es un pelín menor. En tiempo lunar (en promedio) viviría 1.6s menos :-) https://elpais.com/expres/2024-09-19/el-tiempo-pasa-un-segundo-mas-rapido-cada-50-anos-en-la-luna-y-es-mas-importante-de-lo-que-parece.html

- Pedro

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Antarctica in 8 minutes - Immerse yourself

Sit back and enjoy a short Antarctica 8 minutes movie, shot by Kalle Ljung throughout his 20 days journey to this amazing, beautiful and unknown, to many, region. In the future when I would need to relax, de-stress, cool-down, I know where to go. Hope you enjoy it as much as I did/do watching it. “…This movie was shot during our 20 days trip to Antarctica in December 2014 to January 2015. We started from Ushuaia in Argentina and went to Port Williams in Chile, rounded Cape Horn and crossed the Drake Passage towards the Melchior Islands in Antarctica. We spent 16 days in the Antarctic and got to experience the most amazing scenery and wildlife before we returned back to Ushuaia. Filmed with GoPro HERO3+ Black Edition and DJI Phantom 2, edited with Final Cut Pro X. …” ttps://vimeo.com/124858722

- Pedro

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Friday, September 20, 2024

Books added to the Library throughout August'24

Throughout August’24 I have added 8 books to my library. Hopefully, you can also find 1 or 2 for your own library!

The selection rules were:

  • the book had to be recommended by someone directly or by an article I have read or a podcast I have listened.

  • the book should be less than €5 (usually via Kindle -promotions- or 2nd hand).

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  1. La bahía del espejo, Catriona Ward, Cristina Macía Orio (Tranlator)

“…En una casita azotada por el viento de la costa de Maine Wilder Harlow empieza a escribir el último libro de su vida. Narra la historia de un verano de su juventud y del asesino que acechaba en el pequeño pueblo de Nueva Inglaterra donde pasaba las vacaciones; la tragedia que le ha perseguido desde entonces y que le unió para siempre a sus amigos Nat y Harper de formas que entonces no podían imaginar.

Muchos años después Wilder regresa al pueblo para intentar relatar lo que ocurrió, pero, mientras escribe, se da cuenta de que los acontecimientos tienen un inquietante eco en el presente….”

  1. Being You: A New Science of Consciousness, Anil Seth

“…Being You is not as simple as it sounds. Somehow, within each of our brains, billions of neurons work to create our conscious experience. How does this happen? Why do we experience life in the first person? After over twenty years researching the brain, world-renowned neuroscientist Anil Seth puts forward a radical new theory of consciousness and self. His unique theory of what it means to 'be you' challenges our understanding of perception and reality and it turns what you thought you knew about yourself on its head…”.

  1. The Brooklyn Follies, Paul Auster

“…'I was looking for a quiet place to die. Someone recommended Brooklyn, and so the next morning I travelled down there from Westchester to scope out the terrain . . .'

So begins Paul Auster's remarkable new novel, The Brooklyn Follies. Set against the backdrop of the contested US election of 2000, it tells the story of Nathan and Tom, an uncle and nephew double-act. One in remission from lung cancer, divorced, and estranged from his only daughter, the other hiding away from his once-promising academic career, and, indeed, from life in general.

Having accidentally ended up in the same Brooklyn neighbourhood, they discover a community teeming with life and passion. When Lucy, a little girl who refuses to speak, comes into their lives, there is suddenly a bridge from their pasts that offers them the possibility of redemption. Infused with character, mystery and humour, these lives intertwine and become bound together as Auster brilliantly explores the wider terrain of contemporary America - a crucible of broken dreams and of human folly.

'Auster at the top of his game. This superb novel about human folly turns out to be tremendously wise.' New Statesman…”

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  1. A History of the World in Twelve Shipwrecks, David Gibbins

“…From a Bronze Age ship built during the age of Queen Nefertiti and filled with ancient treasures, a Viking warship made for King Cnut himself, Henry VIII's spectacular Mary Rose and the golden age of the Tudor court, to the exploration of the Arctic, the tragic story of HMS Terror and tales of bravery and endurance aboard HMS Gairsoppa in World War Two, these are the stories of some of the greatest underwater discoveries of all time. A rich and exciting narrative, this is not just the story of those ships and the people who sailed on them, the cargo and treasure they carried and their tragic fate. This is also the story of the spread of people, religion and ideas around the world, a story of colonialism and migration which continues today.

Drawing on decades of experience excavating shipwrecks around the world, renowned maritime archaeologist David Gibbins reveals the riches beneath the waves and shows us how the treasures found there can be a porthole to the past to tell a new story about the world and its underwater secrets….”

  1. Smoke And Ashes: Opium's Hidden Histories, Amitav Ghosh

“… When Amitav Ghosh began the research for his monumental cycle of novels the Ibis Trilogy, he was startled to find how the lives of the 19th century sailors and soldiers he wrote of were dictated not only by the currents of the Indian Ocean, but also by the precious commodity carried in enormous quantities on those currents: opium. Most surprising of all, however, was the discovery that his own identity and family history was swept up in the story.

Smoke and Ashes is at once a travelogue, memoir and a history, drawing on decades of archival research. In it, Ghosh traces the transformative effect the opium trade had on Britain, India, and China, as well as the world at large. The trade was engineered by the British Empire, which exported Indian opium to sell to China and redress their great trade imbalance, and its revenues were essential to the Empire's financial survival. Yet tracing the profits further, Ghosh finds opium at the origins of some of the world's biggest corporations, of America's most powerful families and prestigious institutions (from the Astors and Coolidges to the Ivy League), and of contemporary globalism itself.

Moving deftly between horticultural histories, the mythologies of capitalism, and the social and cultural repercussions of colonialism, in Smoke and Ashes Amitav Ghosh reveals the role that one small plant had in making our world, now teetering on the edge of catastrophe….”

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  1. Cómo jugar al ajedrez, Levy Rozman

“…Aprende ajedrez de la mano de Levy Rozman (aka GothamChess), el Maestro Internacional por la FIDE y el profesor de ajedrez más seguido de YouTube.

Cómo ganar al ajedrez te enseña todo lo que necesitas saber sobre el juego, incluidos los movimientos y estrategias más importantes para empezar con fuerza y seguir pensando varios pasos por delante.

Con el humor y el estilo característicos de Rozman —que le han hecho famoso entre millones de aficionados—, la primera parte de esta guía única introduce a los jugadores principiantes (0-800 ELO) en las cuatro áreas clave a tener en cuenta al jugar al ajedrez: aperturas, finales, táctica y estrategia; y la segunda parte desarrolla estas habilidades básicas para los jugadores más experimentados (800-1600 ELO). Repleto de consejos prácticos y fáciles de seguir para mejorar tu juego, Cómo ganar al ajedrez incluye más de 500 ilustraciones instructivas del juego para ayudarle a visualizar mejor el tablero, así como códigos QR específicos de cada capítulo para acceder a contenidos adicionales exclusivos en Chessly, la plataforma de enseñanza de Rozman.

Tanto si quieres convertirte en un jugador amateur como si te estás entrenando para ser Gran Maestro Internacional, ¡este libro es la introducción interactiva perfecta al mundo del ajedrez! …”

  1. Winter Is Coming: Why Vladimir Putin and the Enemies of the Free World Must Be Stopped, Garry Kasparov

“…The stunning story of Russia's slide back into a dictatorship-and how the West is now paying the price for allowing it to happen.

The ascension of Vladimir Putin-a former lieutenant colonel of the KGB-to the presidency of Russia in 1999 was a strong signal that the country was headed away from democracy. Yet in the intervening years-as America and the world's other leading powers have continued to appease him-Putin has grown not only into a dictator but an international threat. With his vast resources and nuclear arsenal, Putin is at the center of a worldwide assault on political liberty and the modern world order.

For Garry Kasparov, none of this is news. He has been a vocal critic of Putin for over a decade, even leading the pro-democracy opposition to him in the farcical 2008 presidential election. Yet years of seeing his Cassandra-like prophecies about Putin's intentions fulfilled have left Kasparov with a darker truth: Putin's Russia, like ISIS or Al Qaeda, defines itself in opposition to the free countries of the world.

As Putin has grown ever more powerful, the threat he poses has grown from local to regional and finally to global. In this urgent book, Kasparov shows that the collapse of the Soviet Union was not an endpoint-only a change of seasons, as the Cold War melted into a new spring. But now, after years of complacency and poor judgment, winter is once again upon us.

Argued with the force of Kasparov's world-class intelligence, conviction, and hopes for his home country, Winter Is Coming reveals Putin for what he is: an existential danger hiding in plain sight….”

  1. Trust, Hernan Diaz

“…Even through the roar and effervescence of the 1920s, everyone in New York has heard of Benjamin and Helen Rask. He is a legendary Wall Street tycoon; she is the daughter of eccentric aristocrats. Together, they have risen to the very top of a world of seemingly endless wealth—all as a decade of excess and speculation draws to an end. But at what cost have they acquired their immense fortune? This is the mystery at the center of Bonds, a successful 1937 novel that all of New York seems to have read. Yet there are other versions of this tale of privilege and deceit.

Hernan Diaz’s TRUST elegantly puts these competing narratives into conversation with one another—and in tension with the perspective of one woman bent on disentangling fact from fiction. The result is a novel that spans over a century and becomes more exhilarating with each new revelation.

At once an immersive story and a brilliant literary puzzle, TRUST engages the reader in a quest for the truth while confronting the deceptions that often live at the heart of personal relationships, the reality-warping force of capital, and the ease with which power can manipulate facts. …”

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Starting a new book! The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell

Starting a new book! The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell “…From the bestselling author of The Bomber Mafia: discover Malcolm Gladwell's breakthrough debut and explore the science behind viral trends in business, marketing, and human behavior. The tipping point is that magic moment when an idea, trend, or social behavior crosses a threshold, tips, and spreads like wildfire. Just as a single sick person can start an epidemic of the flu, so too can a small but precisely targeted push cause a fashion trend, the popularity of a new product, or a drop in the crime rate. This widely acclaimed bestseller, in which Malcolm Gladwell explores and brilliantly illuminates the tipping point phenomenon, is already changing the way people throughout the world think about selling products and disseminating ideas. …” https://www.goodreads.com/book/show/2612.The_Tipping_Point

- Pedro

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Tuesday, September 17, 2024

Ted talk by Rory Sutherland (from 2012) - a great investment of your time

Just found by chance this Ted talk by Rory Sutherland (from 2012), and it is worthwhile the 18 minutes! I really like Rory’s perspective and insights and this talk approaches them in one go. Human behavior and psychology are paramount in any problem-solving framework. The UK’s post-office case made, among others, is a great example that perception has the same value of actual product/service attributes, dimensions or “real” value/utility. If you have a product that is better, or at least equal, to your competitors, but it is perceived 5 to 10% lower than your competitors, based on their willingness to pay, don’t invest in improving the product, invest on changing their perception! His book “Alchemy” is also a must read! https://youtu.be/iueVZJVEmEs?si=UN8s8yBBNC16Slcy

- Pedro

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AlphaProof & AlphaGeometry 2 by DeepMind - Helping to push the mathematic domain to a new level

Absolutely mind blowing the new 2 models that Deep-Mind has recently released, Alpha-Proof, a reinforcement-learning system for formal mathematic reasoning, and AlphaGeometry 2, an improved version of geometry-solving system. What is the all the fuzz about? Well, these 2 tools were able to solve 4 out 6 problems of International Mathematical Olympiad, that would put them equal to the silver medalists. Should be noticed that the time frame to solve 3 out of the 4 solved was significantly longer than the time given to the human math Wizz, nonetheless, it is a great achievement and, in the future, as Terence Tao mentioned in an Oxford’s talk, will provide great assistance and help mathematicians to explore their knowledge to a maximum that were not achievable in the recent past! “…We’re excited for a future in which mathematicians work with AI tools to explore hypotheses, try bold new approaches to solving long-standing problems and quickly complete time-consuming elements of proofs — and where AI systems like Gemini become more capable at math and broader reasoning. …” https://deepmind.google/discover/blog/ai-solves-imo-problems-at-silver-medal-level/

- Pedro

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Saturday, September 7, 2024

Terminei Deus na escuridão por Valter Hugo Mãe - Avaliação - 3/5

Terminei Deus na escuridão por Valter Hugo Mãe Avaliação - 3/5 Um retrato simples, delicado e especial sobre a vida na ilha da Madeira e sobre o amor em geral. De leitura fácil, fluente, apelativa e por vezes intensa. Segundo livro que li de VHM e com certeza não será o ultimo. https://www.goodreads.com/book/show/204939819

- Pedro

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Six novels about India, perhaps the world’s most interesting place

Six novels about India, perhaps the world’s most interesting place. Do you want to understand India? as per the Economist these 6 books will hep you in such quest: Midnight’s Children. By Salman Rushdie A Fine Balance. By Rohinton Mistry The Siege of Krishnapur. By J.G. Farrell The God of Small Things. By Arundhati Roy Last Man in Tower. By Aravind Adiga English, August: An Indian Story. By Upamanyu Chatterjee All were added to my wish list. Happy readings https://www.economist.com/the-economist-reads/2024/08/20/six-novels-about-india-perhaps-the-worlds-most-interesting-place

- Pedro

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The square-root of 9 is?

What is the square-root of 9? A mathematical joke that entails several human behaviors like: Minimize complexity and opt for the fast answer (even if not fully correct) Aversion to scenario thinking as 2 options are equally likely Herd thinking… Among others one could derive.

- Pedro

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