Business News
Ken Goldin: The King of Collectibles
You won't believe how Ken Goldin transformed the collectibles market into a multi-million dollar empire—discover the secrets behind his success.
Ken Goldin has revolutionized the collectibles market, earning the title "King of Collectibles." He started trading baseball cards at just 13. Co-founding Score Board Inc. in 1986, he grew sales to over $100 million by the mid-'90s. In 2012, he launched Goldin Auctions, which quickly flourished, hitting $300 million in sales by 2022. His auction house set multiple records, including a $3.93 million sale of a Mike Trout rookie card. The Great Recession sparked interest in collectibles as investments. With a Netflix series showcasing his work, Goldin's influence continues to grow, hinting at many fascinating stories ahead. As the collectibles market continues to gain momentum, Goldin’s expertise and keen eye for valuable items have positioned him as a leading figure in the industry. His ability to predict trends and understand the emotional and financial value of collectibles has solidified his reputation as the ultimate financial shield for many investors looking to diversify their portfolios. With his track record of success and forward-thinking approach, Goldin’s impact on the collectibles market is sure to shape its future for years to come.
Key Takeaways
- Ken Goldin began trading baseball cards at 13 and co-founded Score Board Inc., achieving significant sales in the collectibles industry.
- He launched Goldin Auctions in 2012, generating substantial sales and establishing a dominant presence in the sports memorabilia market.
- Goldin Auctions achieved record-breaking sales, including a $3.93 million Mike Trout card, reflecting the increasing value of collectibles.
- The Great Recession spurred interest in collectibles as alternative investments, transforming them into viable financial options for investors.
Ken Goldin's Early Years
Ken Goldin's journey into the world of collectibles began at just 13 years old when he started trading baseball cards to help fund his college expenses. His passion quickly grew, leading him to co-found Score Board Inc. in 1986, where he secured exclusive autograph contracts with players.
With a keen business acumen, Score Board went public the following year, achieving $1 million in sales. Sales skyrocketed from $20 million in 1989 to over $100 million by 1994.
However, in 1997, Goldin left the company due to market oversupply, which ultimately led to its bankruptcy in 1998. Despite these setbacks, his early experiences laid the groundwork for his future success in the collectibles industry.
The Growth of Goldin Auctions
After leaving Score Board Inc., Goldin capitalized on his expertise by launching Goldin Auctions in 2012, quickly establishing it as a significant player in the collectibles market.
In its inaugural year, the auction house generated $800,000 in sales, laying a solid foundation for future growth. By 2021, Goldin Auctions experienced a remarkable surge, amassing $200 million in sales, with figures surpassing $300 million in 2022.
The strategic implementation of a 20% commission on sales further solidified its financial standing. Goldin's innovative approach and keen understanding of market trends allowed the company to thrive, showcasing the rising demand for collectibles as alternative investments.
His vision turned Goldin Auctions into a powerhouse in the ever-evolving collectibles landscape.
Record-Breaking Sales Highlights
Record-breaking sales at Goldin Auctions highlight the surging interest in sports memorabilia, with iconic items fetching astonishing prices that reflect their cultural significance.
For instance, Mike Trout's rookie card sold for a staggering $3.93 million, setting a new benchmark for baseball collectibles. Similarly, a limited edition LeBron James card attracted $2.4 million, while Michael Jordan's autographed Air Jordans reached $2.2 million.
These sales not only demonstrate the escalating value of sports memorabilia but also underscore its appeal as an alternative investment. The increasing demand for such collectibles continues to drive Goldin Auctions' success, positioning it as a leader in the industry and capturing the attention of collectors and investors alike.
The Great Recession's Influence
The Great Recession sparked a renewed interest in collectibles as alternative investments, prompting savvy investors to explore new avenues for financial growth.
Ken Goldin capitalized on this shift by leveraging his media presence, maintaining sales even during economic downturns. He converted to live auctions on Instagram, which considerably boosted his follower count from 1,000 to over 100,000 by 2021.
- Increased demand for rare sports memorabilia
- Collectibles perceived as stable investments
Goldin's innovative approach not only helped him navigate the challenging market but also solidified his status as a leading figure in the collectibles industry.
The recession ultimately transformed the landscape, making collectibles a viable option for financial diversification.
Media Ventures and Collaborations
Ken Goldin's strategic media ventures and collaborations have played a pivotal role in expanding his influence and the visibility of the collectibles market.
The Netflix series 'King of Collectibles: The Goldin Touch,' which premiered on April 28, 2023, exemplifies this approach, featuring notable figures like Mike Tyson and Logan Paul. Co-produced by Omaha Productions and Brent Montgomery, the series offers a behind-the-scenes look at the auction process and the dynamics of high-profile sales.
Goldin's partnerships in media not only engage a broader audience but also educate them about the collectibles industry. By leveraging these collaborations, Goldin effectively enhances the appeal of collectibles, solidifying his position as a key influencer in this rapidly growing market.
Conclusion
Ken Goldin's journey from a young card trader to the 'King of Collectibles' illustrates the power of passion combined with entrepreneurial grit.
His ability to navigate challenges, like the Great Recession, and pivot towards innovative ventures hasn't only reshaped the sports memorabilia landscape but also turned collectibles into a thriving investment avenue.
As he continues to captivate audiences with record-breaking auctions and media collaborations, Goldin proves that dreams, much like fine wine, only get better with age.
Business News
Candy Innovator Bob Born Passes Away
With the passing of candy innovator Bob Born, the confectionery world mourns a visionary whose legacy continues to shape beloved treats like Peeps.
Candy innovator Bob Born, known as the 'Father of Peeps,' has passed away, leaving a profound legacy in the confectionery industry. Joining Just Born Quality Confections in 1945, he played a pivotal role in modernizing candy production with groundbreaking machinery that considerably reduced production time and enhanced product consistency. His efforts transformed Just Born into an industry leader with beloved brands like Peeps and Mike and Ike. Born also fostered community ties and advocated for manufacturing advancements, earning local and industry recognition. His impactful contributions have shaped the candy landscape, and further insights into his life and achievements await discovery.
Key Takeaways
- Bob Born, a key innovator in candy manufacturing and the 'Father of Peeps', passed away recently, leaving a lasting legacy.
- He joined Just Born Quality Confections in 1945 and revolutionized marshmallow production with specialized machinery.
- Under his leadership, Just Born became a leader in the candy industry, known for brands like Peeps and Mike and Ike.
- Born's innovations significantly enhanced production efficiency and consistency, setting new standards in candy manufacturing.
Bob Born's Background
Bob Born, a second-generation owner of Just Born Quality Confections, joined the family business in 1945 after serving in the Navy and earning an engineering degree.
His tenure marked a pivotal shift for the company, as he played an essential role in its expansion from a modest shop into a full-scale factory operation.
Born's engineering expertise facilitated the development of innovative machinery, particularly for marshmallow production during the 1950s. This ingenuity not only enhanced efficiency but also solidified his reputation within the candy industry.
His contributions earned him the affectionate title of 'Father of Peeps,' highlighting his significant impact on candy manufacturing and positioning Just Born as a leader in the confectionery market.
Innovations in Candy Production
Innovative machinery designed by Born revolutionized the candy production process, greatly reducing the time required to create Peeps from 27 hours to just 6 minutes. His engineering expertise led to the development of specialized equipment that mechanized candy production, setting new industry standards. This advancement not only optimized efficiency but also allowed for the production of other popular confections like Hot Tamales and Mike and Ike.
Innovation | Impact |
---|---|
Peeps deposit machine | Reduced production time greatly |
Marshmallow machinery | Enhanced product consistency |
Mechanization | Decreased labor dependency |
Specialized equipment | Improved production scalability |
Candy technology advancements | Elevated overall industry standards |
Just Born Company Today
Celebrating a century of excellence in 2023, Just Born Quality Confections remains a prominent player in the candy industry. The company, known for its beloved brands like Peeps, Mike and Ike, and Hot Tamales, employs over 600 workers at its Bethlehem, Pennsylvania factory.
Key highlights of Just Born today include:
- Peeps has been recognized as the No. 1 non-chocolate Easter brand for over two decades.
- Leadership shifted to David Shaffer and Gardner Chip M. Jett, Jr. in 2022, continuing the family-run ethos.
With a focus on growth and community impact, Just Born continues to thrive in a competitive market.
Financial Aspects
Just Born Quality Confections has achieved considerable financial success, with estimated annual net sales reaching $231 million in 2021, underscoring the impact of its innovative products and effective manufacturing processes. The company's status as a key player in the candy industry is reflected in its recognition on the annual Top 100 candy companies list. Brand loyalty and seasonal sales, particularly during holidays, considerably contribute to its revenue streams.
Financial Metric | Value |
---|---|
Estimated Annual Sales | $231 million |
Company Ranking | Top 100 candy companies |
Employee Count | Over 600 |
This financial performance highlights the enduring appeal of Just Born's iconic products, including Peeps, and its commitment to quality.
Legacy and Community Impact
Bob Born's legacy as a passionate advocate for the candy industry is marked by significant contributions that have influenced both manufacturing practices and community engagement. His innovative spirit not only transformed candy production but also fostered a sense of community pride and cooperation.
Honored with 'Bob Born Day' in Bethlehem, Pennsylvania, celebrating his impact on the local culture.
Recognized by industry peers for his dedication to advancing candy manufacturing techniques.
Established lasting relationships within the community, enhancing local economic growth.
Born's commitment to innovation and community service will resonate for generations, ensuring that his influence extends far beyond the candy aisle. His work continues to inspire future leaders in the confectionery sector, solidifying his status as a true pioneer.
Frequently Asked Questions
What Inspired Bob Born to Join the Family Business?
Bob Born was inspired to join the family business by a combination of familial duty, a passion for engineering, and a desire to innovate within the candy industry, ultimately transforming Just Born into a leading confectionery company.
How Did Bob Born's Military Service Influence His Career?
While military service is often seen as unrelated to business, Bob Born's Navy experience fostered discipline and problem-solving skills, enabling him to transform Just Born Quality Confections through innovative engineering and efficient manufacturing practices.
What Specific Challenges Did Just Born Face During Its Expansion?
During its expansion, Just Born faced challenges such as scaling production efficiently, adapting to mechanization in a traditionally manual industry, and meeting increasing consumer demand while maintaining quality and brand identity.
Are There Any Notable Partnerships or Collaborations in Just Born's History?
In the sweet tapestry of Just Born's history, notable partnerships include collaborations with various retailers for seasonal promotions, enhancing brand visibility, and fostering community engagement—demonstrating the company's commitment to innovation and customer connection within the candy industry.
How Did Bob Born's Innovations Change Consumer Preferences in Candy?
Bob Born's innovations greatly influenced consumer preferences by enhancing production efficiency and introducing iconic products like Peeps, which became synonymous with Easter, ultimately fostering brand loyalty and expanding market demand for novelty candies.
Conclusion
The passing of Bob Born resonates as a seismic event within the candy industry, akin to the collapse of a towering confectionery monument.
His transformative innovations, like the astonishing reduction of Peeps production time from 27 hours to a mere 6 minutes, symbolize a revolution that forever altered the landscape of candy manufacturing.
The legacy of Born will echo through the halls of Just Born Quality Confections and beyond, leaving an indelible mark on the hearts of candy enthusiasts and the industry alike.
Business News
Boost Your Income Without Quitting Your Job
Optimize your earnings with flexible side gigs while keeping your current job—discover the strategies that could transform your income today!
You can boost your income without quitting your job by taking on flexible side gigs that fit your schedule. Consider volunteering for overtime or extra responsibilities at work to increase your visibility and pay. You might also explore consulting, tutoring, or photography, utilizing your skills and passions. Participating in employee referral programs can net you cash bonuses as well. Fitness-related opportunities, like personal training or event planning, can provide additional earnings too. Each option allows you to earn more while maintaining your current job, and there are plenty of strategies to enhance your income even further.
Key Takeaways
- Volunteer for overtime at work to increase income and demonstrate commitment to management, enhancing visibility for potential promotions.
- Participate in employee referral programs to earn bonuses by bringing new talent to the company while strengthening professional networks.
- Offer consulting or coaching services in your expertise area, allowing for flexible hours and high earning potential.
- Engage in freelance opportunities or monetize hobbies through online platforms like Upwork or Etsy for additional income streams.
Overtime and Additional Work Opportunities
One of the easiest ways to boost your income without leaving your job is to volunteer for overtime when it's available. This not only increases your paycheck but also shows management that you're committed and reliable.
Working extra hours may lead to more responsibilities and visibility, enhancing your career prospects. Plus, you often earn a higher pay rate during overtime, which can greatly impact your finances.
Additionally, consider taking on unwanted tasks that others might avoid. By offering to handle these, you can negotiate a fee and demonstrate your initiative.
Completing challenging tasks can enhance your skills and make you the go-to person for tough jobs, leading to further recognition and potential pay raises.
Employee Referral Programs
Employee referral programs can significantly boost your income by offering bonuses for successfully bringing new talent into your company. If you know someone who'd be a great fit, don't hesitate to refer them.
Many companies reward you with cash bonuses once your referral is hired and completes a certain probation period. This not only helps your organization fill vacancies but also allows you to leverage your personal network.
Plus, referring someone can strengthen your relationships at work and increase your visibility with management. To maximize your chances, verify the candidate aligns with the company culture and job requirements.
Customer Engagement Strategies
Effective customer engagement strategies can turn casual buyers into loyal advocates for your brand.
Start by actively listening to your customers' feedback; this shows you value their opinions.
Use social media to interact with them regularly, responding to comments and messages promptly.
Consider implementing a customer referral program, rewarding customers for bringing in new business.
Personalized communication, such as tailored emails or special offers based on their preferences, keeps customers engaged.
Finally, follow up after purchases to confirm satisfaction and address any concerns.
By fostering strong relationships through these strategies, you not only enhance customer loyalty but also create opportunities for additional income through repeat business and referrals.
Engaged customers are more likely to support your brand consistently.
Creative Income Generation
Exploring creative income generation can open up new avenues for financial growth, allowing you to harness your passions and skills outside of your regular job.
Consider launching a blog where you share your interests; this can attract an audience and generate income through ads or affiliate marketing. You might also transform your blog content into an eBook for passive income, establishing authority in your niche.
If you have a knack for photography, selling your images on platforms like Shutterstock can provide a steady stream of revenue.
These options not only help diversify your income but also allow you to engage in activities you love, making the process enjoyable while boosting your financial stability.
Consulting and Coaching Services
Offering consulting or coaching services lets you leverage your expertise while enjoying flexible hours and the potential for high earnings. You can create a rewarding side income by sharing your knowledge with individuals or businesses.
Here are three ways to get started:
- Identify Your Niche: Focus on areas where you have strong expertise and a passion to help others. This guarantees you're both knowledgeable and engaged.
- Build an Online Presence: Use social media and a personal website to showcase your services, attract clients, and establish credibility.
- Network Actively: Attend industry events or join online communities to connect with potential clients and collaborators, expanding your reach and opportunities.
With dedication, you can turn your skills into a profitable side hustle.
Arts and Photography Ventures
If you have a knack for creativity and a passion for photography, you can turn your artistic skills into lucrative side ventures that fit around your full-time job.
Consider specializing in event photography, like weddings or corporate events, where the pay is often higher. Building a strong portfolio is essential, so showcase your best work online. You can also sell your photos on platforms like Shutterstock or Etsy, turning your creative shots into passive income.
Networking with clients can lead to referrals, expanding your business. Additionally, think about offering photography lessons to beginners, sharing your skills while earning extra cash.
With dedication and smart marketing, your photography passion can become a thriving side hustle.
Fitness and Sports Opportunities
You can tap into your passion for fitness and sports to create flexible income opportunities that fit seamlessly into your schedule. Here are three ideas to evaluate:
- Become a Gym Instructor: Utilize your fitness knowledge by teaching classes part-time at local gyms. This role offers flexible hours and the chance to build a client base for personal training.
- Umpiring or Refereeing: Engage with local sports by officiating games. You'll earn around $30 per game, enjoy a flexible schedule, and connect with your community.
- Caddying: Work at local golf courses, where earnings often depend on tips. This position typically offers weekend hours and allows you to interact with golf enthusiasts while enjoying the game.
Event and Entertainment Services
Exploring ways to supplement your income through event and entertainment services can harness your creativity and organizational skills while fitting into your existing schedule.
You might consider becoming a DJ for parties or events, which allows you to charge for your services while enjoying the music scene.
If you're organized and detail-oriented, event planning could be a great fit; you can coordinate everything from corporate events to weddings on a flexible basis.
Offering services as a photographer at local events also presents opportunities for income; you can build a portfolio and attract clients through word-of-mouth.
Technology and Computer Services
Leveraging your tech skills in areas like computer repair or software installation can provide a lucrative side income without interfering with your full-time job. Here are some ways to get started:
- Repair Computers: Offer your services to friends, family, and local businesses. Simple fixes can lead to repeat customers and steady income, especially during back-to-school and holiday seasons.
- Install Software: Many local businesses need assistance with software installations and updates. Networking with IT departments can help you secure consistent part-time opportunities.
- Offer Remote Support: Utilize online platforms to provide virtual tech support. This flexibility allows you to manage your time effectively while serving clients in need of assistance.
Educational and Tutoring Services
Tutoring offers a flexible way to monetize your expertise in academic subjects, meeting the high demand for personalized educational support. You can tap into your strengths in math, science, or languages to help students improve their skills.
With options for in-person or online sessions, you can easily fit tutoring into your schedule, accommodating your full-time job. Local schools and community centers can be great sources for potential clients, and word-of-mouth referrals can grow your business over time.
Plus, consider teaching English online; there's a global market keen for instruction. By leveraging your knowledge, you not only boost your income but also make a positive impact on your students' academic journeys.
Frequently Asked Questions
How Can I Effectively Market My Freelance Services?
To effectively market your freelance services, showcase your work online, engage on social media, network within your industry, ask for referrals, and consider offering introductory discounts to attract new clients and build your reputation.
What Legal Considerations Should I Be Aware of for Side Gigs?
Imagine sailing a ship through uncharted waters. As you explore side gigs, guarantee you understand legalities—licenses, taxes, and contracts. Protect your treasure by staying compliant, so your journey remains smooth and rewarding.
How Do I Balance a Side Hustle With My Full-Time Job?
Balancing a side hustle with your full-time job requires effective time management. Set clear boundaries, prioritize tasks, and create a schedule. Stay organized and communicate with your employer to maintain a healthy work-life balance.
What Tax Implications Should I Consider for Additional Income?
Did you know that 70% of side hustlers don't report their income? When you earn extra money, you need to take into account tax implications, like self-employment taxes, potential deductions, and how it affects your overall tax bracket.
How Can I Find Reliable Clients for My Side Projects?
To find reliable clients for your side projects, leverage your network, use social media to showcase your work, join relevant online communities, and ask for referrals from satisfied clients to build trust and credibility.
Conclusion
In a world where you're told to hustle harder, isn't it ironic that the key to boosting your income might just lie in embracing your existing skills?
Imagine transforming your hobbies into cash flow while keeping your day job intact. Instead of burning the midnight oil, you could be earning extra bucks sipping coffee at your favorite café, teaching what you love, or offering advice from the comfort of your couch.
Who knew financial freedom could be so cozy?
Business News
Is Your Phone Number Part of Facebook's Leak
Know if your phone number is among the 533 million leaked from Facebook and discover how to protect your personal information effectively.
The 2021 Facebook data breach compromised the personal data of over 533 million users, including phone numbers. This incident, resulting from a flaw exploited by automated data scraping techniques, raised significant concerns regarding Facebook's data security practices. To determine if your phone number is part of this leak, consider using tools like Have I Been Pwned, which allows you to check against known breaches. It's vital to take proactive measures, such as changing passwords and reviewing privacy settings. Understanding the broader implications of such data exposures is essential for safeguarding your personal information. More insights on this matter can enhance your awareness.
Key Takeaways
- Over 533 million users were affected by the Facebook breach, which included phone numbers among compromised data.
- Data scraping was the method used to collect publicly available information without hacking.
- You can check if your phone number has been compromised using the Haveibeenpwned tool.
- If you find your phone number in the breach, consider changing your passwords and enhancing privacy settings.
Overview of the Facebook Breach
In 2021, a significant data breach exposed the personal information of over 533 million Facebook users across 106 countries, revealing vulnerabilities in the platform's data security practices.
The compromised data included names, Facebook IDs, phone numbers, birthdays, and addresses, leaving affected individuals vulnerable to various cybercriminal threats.
The incident traced back to a flaw identified in 2019, which allowed malicious actors to exploit publicly available information.
Facebook clarified that the data was obtained through scraping rather than hacking, emphasizing the automated collection of public data.
Despite this distinction, the breach raised serious concerns about the adequacy of Facebook's protective measures and the need for enhanced transparency regarding user data safety and security protocols.
Understanding Data Scraping
Data scraping is a technique where automated software collects publicly available information from websites, often without the consent of the individuals whose data is being gathered. This method, while legal under certain circumstances, raises ethical concerns, particularly regarding user privacy. The Facebook breach exemplified how data scraping can lead to significant vulnerabilities for individuals.
Aspect | Details |
---|---|
Methodology | Automated data collection |
Consent | Often lacks individual consent |
Data Types | Publicly available information |
Risks | Identity theft, targeted scams |
Regulatory Status | Varies by jurisdiction |
Understanding the implications of data scraping is essential for users to protect their personal information in an increasingly digital world.
How to Check for Leaks
Regularly checking for data leaks is essential for maintaining your online security and protecting personal information from potential misuse.
One effective tool for this purpose is Haveibeenpwned, which allows users to verify whether their phone numbers or email addresses have been compromised in any known data breaches.
By simply inputting your information, the service checks against a thorough database of breaches, providing a straightforward yes or no response regarding exposure.
This proactive measure encourages users to remain vigilant and take necessary actions, such as changing passwords or enhancing privacy settings, if a leak is detected.
Expert Insights on the Breach
Cybersecurity experts emphasize the critical need for transparency and clear communication from Facebook regarding the breach, as users seek to understand the implications for their personal data.
Significantly, Troy Hunt and other specialists have voiced concerns about the ambiguity surrounding how the data was obtained and the timeline of events.
The incident, which stemmed from a flaw identified in 2019, underscores the necessity for social media platforms to be more forthcoming about data vulnerabilities.
Experts argue that without adequate information, users remain in the dark about potential risks.
As the community calls for improved communication, it is imperative for Facebook to build trust through proactive engagement and definitive strategies to protect user data and enhance system security.
Risks of Data Breaches
The risks associated with data breaches extend far beyond immediate exposure, threatening users with potential identity theft and various cyberattacks.
When personal information, such as phone numbers and addresses, is compromised, cybercriminals can leverage this data to impersonate individuals, access financial accounts, and conduct phishing schemes.
The aftermath of a breach can lead to long-term consequences, including damaged credit and emotional distress for victims.
In addition, the exploitation of publicly available data exacerbates the situation, highlighting vulnerabilities in social media platforms.
As users become increasingly aware of these risks, the demand for stronger regulations and improved cybersecurity measures intensifies.
Ultimately, vigilance and proactive monitoring of personal information are essential for mitigating the risks associated with data breaches.
Frequently Asked Questions
How Can I Protect My Personal Information From Future Breaches?
To safeguard personal information from future breaches, utilize strong, unique passwords, enable two-factor authentication, regularly monitor accounts for suspicious activity, and remain vigilant about sharing sensitive data across online platforms. Awareness is essential for effective protection.
What Steps Should I Take if My Data Is Leaked?
If your data is leaked, ironically, the first step is to assess the damage—check for unauthorized activities. Then, change passwords, enable two-factor authentication, and monitor accounts regularly to counter the irony of modern security.
Can I Delete My Information From Facebook After the Breach?
Yes, you can delete your information from Facebook after a breach. Navigate to your account settings, select "Your Information," and follow the prompts to manage or delete personal data, enhancing your privacy and security.
Will Facebook Notify Users if Their Data Is Compromised?
Imagine Facebook sending a postcard: “Congratulations! Your data is compromised!” In reality, the platform rarely notifies users of breaches, emphasizing the importance of proactive monitoring instead of relying on Facebook for such alarming news.
How Often Should I Check for Data Leaks?
Regularly checking for data leaks is advisable, ideally every few months. Utilizing services like Haveibeenpwned can enhance awareness of potential vulnerabilities, enabling users to take proactive measures to protect their personal information from cyber threats.
Conclusion
To summarize, the Facebook breach serves as a stark reminder of the vulnerabilities inherent in digital platforms.
It highlights the necessity for vigilance in monitoring personal information, the importance of understanding data scraping versus hacking, and the urgent call for enhanced regulatory measures.
By fostering awareness, promoting transparency, and advocating for robust protections, users can better navigate the complexities of data safety in an increasingly interconnected world.
Empowering individuals to take proactive steps remains essential in safeguarding personal information against future threats.
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