The Knowledge Project with Shane Parrish

Farnam Street

Master the best of what other people have already figured out. Each episode uncovers hard-earned wisdom from CEOs, renowned scientists, and true masters of their craft, delivering insights you can use in work and life. TKP is for those who understand continuous learning is the ultimate competitive advantage. My Books: https://fs.blog/books Instagram: https://instagram.com/farnamstreet LinkedIn: https://www.linkedin.com/in/shane-parrish-050a2183/ Join over 700,000 people who read my weekly newsletter and upgrade your thinking in 5 minutes a week. fs.blog/newsletter

  • 1 hour 18 minutes
    #216 Outliers: Andrew Mellon – America’s Secret Banker

    He was the strangest titan America ever produced: a whisper-quiet banker who turned systematic thinking into a superpower, building an industrial empire while barely raising his voice above a murmur. Andrew Mellon's story isn't just about money—it's about how patience, observation, and positioning can create more wealth than charisma ever could. But when the Great Depression hit, the very qualities that made him rich made him the perfect villain for a nation demanding change. 


    Whether you're building a business, investing in the future, or seeking insights on strategic decision-making, Mellon's story reveals the power of patience, positioning, and playing the long game. 


    (2:25) Prologue: The Quiet Titan

    (4:20) Part 1 - The Judge's Son

    (6:36) Benjamin Franklin's Blueprint

    (8:53) The Pittsburgh Promise

    (10:45) Andrew's Early Years

    (13:11) Part 2 - Building the System

    (14:23) The Banking Foundation

    (17:09) Panic Creates Opportunity

    (20:09) Andy at the Wheel

    (22:05) Opportunity in Aluminum

    (24:10) The Mellon System

    (27:12) Connections Create Power

    (29:02) Reinvesting Success

    (30:51) Staying in the Shadows

    (33:28) Part 3 - The Private Kingdom

    (34:52) A Broken Heart

    (36:56) Science Meets Industry

    (39:35) Preparations for War

    (41:39) The Silent Empire Strikes

    (44:04) Part 4 - Washington's Banker

    (45:58) The Banker Takes Command

    (47:49) The Banker's Paradox

    (50:27) The Silent Man Learns to Speak

    (52:03) Part 5 - The Fall

    (53:56) 1928

    (55:25) Black Thursday

    (57:23) When Strength Becomes Weakness

    (59:58) Roosevelt's Vendetta

    (1:02:48) The Silent Man Shouted Down

    (1:05:01) The Final Battle: Mellon's Tax Trial

    (1:09:04) The End of an Era

    (1:10:14) Epilogue - The Final Gift

    (1:11:44) Thinking Long Term


    This podcast is for information purposes only and draws primarily from two foundational books: David Cannadine's 'Mellon: An American Life', the first comprehensive published biography of Andrew W. Mellon, which masterfully chronicles his journey from shy Pittsburgh boy to industrial titan, Treasury Secretary, and philanthropist. The second source, 'Thomas Mellon and His Times', written by Andrew's father Thomas Mellon himself provides invaluable firsthand insights into the immigrant experience and the formation of the Mellon family's business philosophy in America. If this story captured your interest, we highly recommend both works – Cannadine's for its thorough examination of Andrew's profound impact on American business, politics, and philanthropy, and Thomas Mellon's autobiography for its intimate portrait of the family's rise from immigrant farmers to financial powerhouses in both nineteenth- and twentieth-century Pittsburgh. 


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    25 February 2025, 11:00 am
  • 2 hours 2 minutes
    #215 David Heacock: Managing and Marketing a $250M Business

    Imagine leaving a six‐figure Wall Street salary behind to chase a single, daring idea. In this episode, David Heacock shows you how he turned a basic product into a $250M empire. At 29, he left Wall Street to bet on air filters. That bet transformed into Filterbuy, now a $250 million direct-to-consumer manufacturer serving more than 7 million customers through a ruthlessly efficient operation. Today we talk about what actually matters when building a business, balancing obsession with family life, selling on Amazon, what he’d do differently if starting over, and the freight decision he calls his biggest mistake. Whether you’re starting a business, scaling one, or simply looking for insights on hiring, managing, or making bold decisions, David shares the lessons that helped him build his empire. 

     

    David Heacock is the founder and CEO of Filterbuy. Before revolutionizing the air filter industry, he traded options at Goldman Sachs from 2005-2012. 


    If you’re driven by bold decisions and value hard-won lessons, this conversation is your playbook. Don’t miss out on the insights that could redefine your own path to success.


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    (00:02:56) David's Journey to Goldman Sachs 

    (00:06:07) Committing to Entrepreneurship 

    (00:07:35) The Power of Obsession 

    (00:10:08) The Decision to Expand Geographically 

    (00:12:55) Challenges in Building the First Plant 

    (00:18:58) Management Level Hiring 

    (00:22:41) Studying Operating Systems for Companies 

    (00:24:49) The Nuances of Hiring 

    (00:25:53) External Accountability 

    (00:29:37) Adapting Business Operating Systems 

    (00:30:13) The Role of a Chief of Staff 

    (00:31:03) Building Department-Specific Operating Models 

    (00:32:56) Articulating the Company's Mission and Values 

    (00:44:19) Understanding Marketing and Branding 

    (00:47:10) The Strategy Behind Intent-Based Marketing 

    (00:52:13) The Decision to Enter Retail 

    (00:57:26) Success in Retail and Customer Acquisition 

    (00:58:19) Diversifying Market Segments 

    (00:59:13) Competitive Advantage Over Other Brands 

    (01:01:07) The Logistics Aspect of the Business 

    (01:04:25) Defining Direct-to-Consumer Brands 

    (01:08:39) Technical Challenges and Overcoming Setbacks 

    (01:11:46) Core Personal Traits for Success 

    (01:16:37) The Power of Obsession Over Willpower 

    (01:17:46) Facing the Hardest Moments in Business 

    (01:26:36) The Decision to Enter the Freight Business 

    (01:30:48) Diversifying into the HVAC Service Business 

    (01:34:51) The Future of HVAC Service Business 

    (01:36:01) Personal Branding and Business Growth 

    (01:37:23) The Role of Marketing and Operations 

    (01:38:48) Contrasting Business Models: Private Equity 

    (01:43:00) The Importance of Mission and Vision 

    (01:47:12) Balancing Obsession and Family Life 

    (01:53:44) The Dangers of Lifestyle Creep and Maintaining Financial Stability 

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    18 February 2025, 11:00 am
  • 42 minutes 7 seconds
    #214 Outliers: Timothy Eaton and The Original ‘Everything Store’

    So far with The Knowledge Project Podcast, we've focused on interviews. But I’ve learned as much from reading biographies as from interviewing amazing people. That’s why we’re starting 'Lessons from Outliers.' Every other week, we'll study an outlier who did remarkable work. From industrialists who reimagined commerce to the irreverent personalities who challenged the foundations of their fields, we'll explore what they did and how they did it. We can learn something from everyone.  

     

    We're starting Outliers with Timothy Eaton, a Canadian name that might not be familiar to many listeners today, but his innovations fundamentally changed retail and how we shop. This episode is about how he built that empire, the principles that drove its success, and the forces that eventually brought it all crashing down. Whether you're building a business, leading a team, or trying to understand how great companies rise and fall, Timothy Eaton's story offers timeless lessons about innovation, trust, and the true price of success. You'll learn why even the mightiest empires can crumble when they forget the principles that built them and why success—no matter how massive—must be earned and re-earned daily. 


    (01:55) Introduction

    (05:04) The Vision

    (06:16) Timothy’s Early Years

    (09:28) The System

    (12:17) The Innovation Engine

    (14:18) The Scale Game

    (18:08) The Platform Play

    (19:32) The Leadership Philosophy

    (20:48) The Succession

    (22:21) Retail as Entertainment

    (23:14) The Western Expansion

    (25:12) Building the National Network

    (26:05) Creating the Corporate Family

    (26:43) The Pinnacle of Power

    (27:43) The Inherited Crown

    (28:33) The Comfortable Plateau

    (31:33) The Weight of Tradition

    (33:12) The Profit Paradox

    (34:02) The Identity Crisis

    (34:51) The Final Chapter


    This podcast is for information purposes only and draws primarily from two excellent books: ‘The Eatons: The Rise and Fall of Canada's Royal Family’ by Rod McQueen which chronicles the Eaton family history and the company’s journey from beginning to end, and ‘Timothy Eaton and the Rise of His Department Store’ by Joy L. Santiuk, which focuses on the founder’s life. If this story captured your interest, we highly recommend both books for their thorough documentation of what became a Canadian institution for over a century. 


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    11 February 2025, 11:00 am
  • 56 minutes 55 seconds
    #213 Mickey Drexler: The Art of Selling with Retail's Merchant Prince

    This episode will transform how you think about style, aspiration, and the art of knowing what people want before they know it themselves. From working in department stores to advising Steve Jobs on Apple’s retail strategy when it didn’t have retail at all, Drexler’s career traces the evolution of American retail itself: from local shops to mall dominance, from catalog to digital, from mass market to personalization. Whether you’re an aspiring entrepreneur, a retail enthusiast, or someone looking to build a brand that stands the test of time, Mickey shares invaluable insights on what separates truly successful brands from the rest.


    Mickey Drexler is the chairman of Alex Mill. Before that, he was the CEO of J. Crew and sat on the Board of Directors of Apple. He founded Old Navy and Madewell, and served as the CEO of Gap from 1983–2002.


    Learn why gaining real-world insights—and not just reports or data—is crucial to staying ahead of the competition.


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    (02:16) How Mickey Drexler became Mickey Drexler

    (07:04) Lessons from redefining Gap

    (12:47) Merchant, defined

    (15:17) How Drexler evaluates stores

    (19:20) Lessons from running Gap

    (21:19) On Old Navy

    (27:26) On Steve Jobs and Working with Apple

    (33:00) Re-making J. Crew

    (37:00) Drexler's superpower

    (43:40) Current-day retailers who are great

    (45:10) How Drexler got "Madewell"

    (47:15) What makes something a classic look?

    (50:20) On success



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    4 February 2025, 11:00 am
  • 2 hours 17 minutes
    #212 Alfred Lin: How to Think (and Work) Like a World-Class Investor

    Alfred Lin shares strategies for navigating startup challenges, building resilient teams, and creating long-lasting value. Lin explores lessons from companies like Zappos, Airbnb, DoorDash, and Amazon, offering actionable insights on topics like hiring for potential, managing crises, and fostering innovative cultures. Learn how first-principles thinking, customer focus, and disciplined growth can transform challenges into opportunities, even in the face of unprecedented disruptions.

    Lin is a partner at Sequoia Capital. He represents Sequoia on boards like Airbnb and DoorDash. From January 2005 to December 2010, he served as Chairman of the Board and Chief Operating Officer of Zappos. He has a Bachelors in Applied Mathematics from Harvard and a Masters in Statistics from Stanford.

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    (00:00) Intro

    (03:20) Personal Journey: From Taiwan to Entrepreneur

    (04:51) School Days: Lessons in Creativity and Discipline

    (06:21) Infinite Games: Shaping Life's Philosophy

    (08:12) Core Values and Life Principles

    (10:09) Work-Life Balance and Family Insights

    (12:13) Inputs vs Outputs: Daily Routines and Priorities

    (13:56) First Order Issues: Problem Solving in Business

    (18:46) Early Career: From LinkExchange to Zappos

    (44:01) Facing the 9/11 Crisis

    (44:24) Building a Profitable Company

    (44:50) Creative Financing Strategies

    (45:55) Customer Service Focus

    (48:53) Handling High Return Rates

    (53:31) Zappos' Unique Culture

    (55:47) Holacracy Management System

    (56:53) Maintaining Growth and Culture

    (58:37) Avoiding Complacency

    (01:10:21) Crucible Moments

    (01:13:28) First Principles Thinking

    (01:14:17) Navigating the Pandemic

    (01:27:37) The Essence of Company Values

    (01:28:04) Pros and Cons of Remote Work

    (01:29:52) Building Company Culture in a Hybrid World

    (01:33:11) Investment Strategies in Changing Markets

    (01:37:37) The AI Revolution and Its Future

    (02:01:56) Balancing Standardization and Customization

    (02:04:44) Working Backwards vs. Forwards

    (02:10:53) Defining Success: The Importance of Process

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    21 January 2025, 10:45 am
  • 2 hours 11 minutes
    #211 Codie Sanchez: Your Blueprint to Financial Freedom

    Whether you’re looking to increase your income, start a side business, or completely transform your financial future, Codie Sanchez will break down exactly what separates those who successfully build wealth from those who stay stuck. This conversation is packed with immediately actionable insights covering the biggest myths around money, the difference between acquiring and keeping money, the rich versus broke mindset and how it changes everything, non obvious lessons on negotiating, and more. Plus, we talk about the single most important thing to know about building financial freedom—and it’s not what you think it is.


    After spending nearly two decades on Wall Street, Codie Sanchez struck out on her own and has been buying and investing in businesses since 2012. She now runs a holding company of small and medium-sized businesses. Her unique focus is on “boring businesses” like laundromats and lawn care services. Sanchez is also the author of Main Street Millionaire: How to Make Extraordinary Wealth in Ordinary Businesses.

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    (00:00) Intro

    (02:48) Codie Sanchez's Journey to Business Acquisition

    (04:21) Understanding the Language of Money

    (07:06) The Importance of Financial Freedom

    (16:12) Learning and Earning in Your 20s

    (17:32) The Power of Proximity and Mentorship

    (28:37) The Role of Effort and Determination in Success

    (39:45) Lessons from Business Failures

    (44:22) Mastering Business Focus and Layering

    (46:31) Misconceptions About Money

    (48:21) Saving vs. Earning: A Financial Perspective

    (51:57) The Rich vs. Broke Mindset

    (53:24) Allies vs. Friends in Success

    (01:09:04) The Importance of Reputation

    (01:20:41) Negotiation and Sales Skills

    (01:23:40) The Art of Door Knocking

    (01:25:07) Defining Good and Bad Businesses

    (01:26:26) Identifying Business Problems

    (01:27:57) Hiring the Right People

    (01:42:57) Traits of High Performers

    (01:46:42) Balancing Work and Personal Life

    (01:57:37) Investing as a W2 Employee

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    7 January 2025, 7:28 pm
  • 1 hour 36 minutes
    #210 Best of 2024: The Blueprint for a Transformative New Year

    The Knowledge Project closes 2024 with a look back at some of the best conversations of the year. Featuring interviews from some of our most downloaded episodes ever, this collection of conversations offers a variety of insights into finances and investing, improving your communication, marketing and positioning, business frameworks, health and nutrition, and how to beat death.


    This conversation features segments from finance expert and writer Morgan Housel, non-verbal psychologist Blake Eastman, marketing and positioning expert April Dunford, blueberry billionaire John Bragg, parenting extraordinaire Becky Kennedy, a billion dollar CEO Brad Jacobs, nutrition guru Rhonda Patrick, and the guy who is beating death, Bryan Johnson.


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    00:00 - Intro 02:12 - Transform your finances (Morgan Housel) 12:10 - Transform your communication (Blake Eastman) 22:04 - Transform how you sell yourself (April Dunford) 33:01 - Transform your business philosophy (John Bragg) 44:31 - Transform your emotions and attitude (Becky Kennedy) 57:45 - Transform your business tactics (Brad Jacobs) 01:07:28 - Transform your nutrition (Dr. Rhonda Patrick) 01:18:06 - Transform your lifespan (Bryan Johnson)

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    24 December 2024, 9:53 am
  • 1 hour 46 minutes
    #209 Charlie Hoehn: Write Something People Want to Read

    In this episode, Charlie Hoehn explains the secrets behind why some books are unforgettable, and others no one seems to remember. He shares his journey of helping authors transform their ideas into best-selling books and provides actionable advice on structuring, writing, and marketing a book. You'll learn how to craft titles that make people want to read your book, design compelling covers that stand out on the shelves, and use certain strategies to engage readers effectively depending on the ideas you communicate. Hoehn also shares the psychology behind book promotion, how to leverage feedback, and the dynamics of traditional versus self-publishing. Whether tackling a novel or email, this episode will transform how you write and communicate.

    Charlie Hoehn is the founder of Author.Inc and a 3-time New York Times bestselling editor. He's the mind behind some of the influential books from Tim Ferriss, Ramit Sethi, Codie Sanchez, and Noah Kagan. Charlie's expertise has helped sell over 10 million books.

    Newsletter - The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at https://fs.blog/newsletter/

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    (00:00) Intro

    (03:04) Helping Authors Succeed

    (03:38) Writing for a Specific Audience

    (07:14) The Importance of Real Feedback

    (10:18) Traditional vs. Self-Publishing

    (20:50) The Economics of Self-Publishing

    (24:42) The Art of Book Cover Design

    (30:29) Crafting a Compelling Title

    (36:42) The Importance of Book Structure

    (47:22) Editing: The Final Touch

    (51:35) Book Sales Percentiles

    (52:32) The Harsh Reality of Book Sales

    (54:20) The Emotional Impact of Writing

    (55:12) Dealing with Compliments and Criticism

    (58:24) The Quest for Bestseller Lists

    (1:00:04) The Complexities of Hitting the New York Times List

    (1:12:25) Leveraging AI in Writing

    (1:20:21) Effective Marketing Strategies for Authors

    (1:28:14) Creating Evergreen Content

    (1:35:30) The Importance of Authenticity in Writing

    (1:40:54) Final Thoughts

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    10 December 2024, 10:30 am
  • 1 hour 45 minutes
    #208 Ryan Holiday: How to Win the War with Yourself

    Ryan Holiday unpacks the subtle and not-so-subtle messages life sends us—and what happens when we ignore them. From mismatched tattoos and injured ankles, Ryan reflects on the lessons he’s learned about preparation, awareness, and humility. Using examples ranging from personal missteps to famous entrepreneurial gambles, this episode is a deep dive into the art of learning from experience, knowing when to listen, and the cost of stubbornness. Plus, Holiday revisits his roots to discuss how Stoic principles can guide you in navigating feedback, balancing ambition with self-awareness, and understanding the fine line between determination and delusion.

    Holiday is a New York Times bestselling authorHe has written over 10 books, covering both the fundamentals of Stoicism as well as key elements of modern-day marketing and media. His most recent release is Right Thing, Right Now. Holiday has been a guest on the podcast twice before.


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    (00:00) Intro

    (02:20) When to Ignore Advice

    (04:49) The Importance of Reflection and Journaling

    (07:26) Balancing Emotions and Stoic Practices

    (24:34) Misconceptions and Historical Context of Stoicism

    (29:53) The Pursuit of Excellence and Its Trade-offs

    (40:58) The Power of Saying No and Opportunity Costs

    (49:09) The Role of Anger and Emotional Control

    (52:58) Defining Self-Discipline

    (53:43) The Essence of Self-Discipline

    (54:29) Balancing Discipline and Life

    (55:09) Consistency and Overcoming Setbacks

    (56:09) The Struggle with Compulsive Tendencies

    (58:33) Navigating Competition and Personal Goals

    (01:01:22) Cultivating Discipline Through Physical Practice

    (01:02:15) Instilling Discipline in Children

    (01:04:22) Understanding Character and Virtue

    (01:23:32) The Impact of Modern Technology on Writing

    (01:35:04) Defining Success and Managing Expectations

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    26 November 2024, 10:30 am
  • 1 hour 14 minutes
    #207 Adam Karr: The Investing Blueprint

    Investor Adam Karr reveals his hidden playbook for spotting exceptional CEOs and building extraordinary businesses. Learn his counterintuitive techniques—from the surprising link between writing skills and executive performance to the 10-minute test that unveils a leader's true potential. Packed with battle-tested wisdom, Karr shares the deceptively simple principles that separate great business leaders from the merely good.


    Adam Karr is the President and Portfolio Manager at Orbis Investments.


    (00:00) Intro

    (02:44) Investing Strategies and Market Games

    (04:08) Adapting and Evolving Investment Styles

    (05:20) The Importance of Obsession and Environment

    (06:29) Aligning with Long-Term Investment Goals

    (07:11) Identifying and Evaluating Obsessed CEOs

    (08:13) The Role of Culture in Investment Decisions

    (08:54) Building Long-Term Positions and Overcoming Short-Term Pressures

    (12:21) The Blueprint for Success

    (15:24) Learning from Role Models and Mentors

    (21:25) The Power of Writing and Decision Analytics

    (29:11) The Magic in the Last 5% of Investment Research

    (35:25) Understanding Roll-Ups: Success Factors and Challenges

    (36:01) Applying Knowledge for an Unfair Advantage

    (37:42) Learning from Feedback and Case Studies

    (40:47) The Importance of Independent Thinking

    (43:06) Lessons from Industry Leaders

    (49:32) The Will to Practice and Time Management

    (56:44) Positioning for Success and Resilience

    (01:08:59) Defining Success and Helping Others


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    12 November 2024, 11:33 am
  • 2 hours 16 minutes
    #206 John Mackey: Building Whole Foods

    From near bankruptcy after a devastating flood to a $13.7 billion Amazon acquisition, Whole Foods founder John Mackey reveals how a small health food store became an empire that revolutionized American eating.


    Discover how a single near-death experience transformed a 25-year-old college dropout into the pioneer of the organic food movement. Mackey shares raw insights from the frontlines: how he turned hostile customers into evangelists, survived multiple extinction-level threats, and built a mission-driven billion-dollar business without compromising its soul.


    John Mackey is the co-founder of Whole Foods Market, where he was the CEO of the company from 1980 to 2022. He is the author of the bestselling book, Conscious Capitalism.


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    00:00 Introduction

    02:30 From Safer Way to Whole Foods: The Early Days

    03:46 The Struggles and Successes of Whole Foods

    05:22 Navigating Criticism and Market Realities

    08:36 The Lamar Location and the 100-Year Flood

    10:46 Rebuilding and Realizing Stakeholder Value

    14:57 Learning the Retail Ropes

    22:35 Growth, Challenges, and Entrepreneurial Resilience

    35:51 Acquisitions and Expanding the Whole Foods Empire

    41:17 The Drive to Build a Chain

    42:17 Founder-Led vs. Professional Management

    44:38 Challenges of Bureaucracy

    46:56 The Importance of Cost Control

    50:44 Entrepreneurial Spirit and Creativity

    52:56 Facing Leadership Challenges

    01:02:57 The Amazon Merger

    01:19:01 Capitalism vs. Socialism

    01:26:27 The Illusion of Control in Socialism

    01:27:44 The Kibbutz Experiment: Idealism vs. Reality

    01:30:53 Capitalism: A Win-Win Game

    01:32:04 The Power of Win-Win-Win Philosophy

    01:34:28 A Personal Story: Winning Over Deborah

    01:37:29 The Role of Business Planning

    01:38:49 Qualities of Successful Entrepreneurs

    01:49:12 The Hero's Journey: Advice for Young Entrepreneurs

    01:51:05 Introducing Love Life: A Holistic Health Venture

    01:57:18 The Importance of Whole Foods and Nutrition

    02:08:09 Concluding Thoughts on Success and Happiness

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    29 October 2024, 11:49 am
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