what is driving linkedin out of the country?re citing greater scrutiny, a higher level of burden to comply with china's internet regulator standards. linkedin struggles in china started in march. the regulator said there was too much political content shared on the platform. at that point, they froze new sign-ups. if you compare it to the domestic social media companies, it is not that much. linkedin was the kind of shining light for u.s. social media companies in china because it is the only one that was able to operate in recent times. paul: does linkedin have a solution to this problem? >> the issue was the content. linkedin is supposed to be a social network or placed for professionals to interact with one another and find jobs. they are removing the social element. later this year, they will replace the platform with what they are calling in jobs. it is just a job posting site. no opportunity to share user content on the platform. their hope is that will allow china to comply with the internet right -- they're -- their hope

linkedin is going to replace its platform with a job posting site. real blow because we know facebook, google have made attempts to get into china and never been successful. this is the final blow to u.s. companies that wanted to have a social media presence in that country. caroline: let's look at a company that has no headquarters. as already in the business of making remote work easier and faster before the pandemic hit the all remote open source company finished almost 35%. the ceo is joining us. he joins me from the nasdaq in new york where your company is worth more than $14 billion. you yourself have evaluation of within 2.8 billion. tell us how you feel. >> it is an extraordinary day and we are excited to take the company public. every company needs to become a software company. we are making the leading platform to do that. we believe this is a $40 billion market. we are so glad to see investors recognize the opportunity. caroline: we get subscriptions from ubs, t-mobile and the like. revenue has been soaring particularly under the pandemic

but it is interesting that like whenever we talk about linkedin, we don't think about it in terms of like social media, you write about it much more as a serious sort of job shopping profile that you would go on. and yet, although we know there now there are people who do post to a, right i, i'm not one of them, but there are people who post to it. and every once in a while you see it does have a social feed. but yeah, i agree. you don't really think of linkedin as, as social media crackdown continues to facebook says it will now count activists and journalists as involuntary public figures and increase protections against harassment and bullying. targeted at these groups on exactly sure what an involuntary public figure is. but the move comes as a social media platform is under wide scrutiny from global lawmakers and from regulators over its content moderation practices after internal documents were leaked by a whistleblower. still many are questioning if the change will actually create protections or will that make it easier for the platform to simply sensor people are teas trinity

but yeah, i agree, you don't really think of linkedin as, as social media cracked and continued. but facebook says it will now count activists and journalists as involuntary public figures and increased protections against harassment and bullying. targeted at these groups. not exactly sure what an involuntary public figure is, but the move comes as a social media platform is under wide scrutiny from global lawmakers and from regulators over its content moderation practices after internal documents were leaked by a whistleblower. still many are questioning if the change will actually create protections or will it make it easier for the platform to simply sincere people? are teas trinity, travis has more today a facebook taking a new approach to increase protection against harassment and bullying. the social media giant announcing it will ban. i'll coordinate a harassment in which a group of individuals work together to bully another user. that change will apply to all users, including activists and journalists who it says are in the public eye due to their work rather than their p

when it launched there in 2014 linkedin, agreed to adhere to the requirements of the chinese government in order to operate there. but also promised to be transparent about how it conducted business in the country and said that a disagreed with government censorship. there's a reason by the way, that they're the only social media from the united states. it was ever allowed in china because they had to agree to very strict rules here. and they don't like it anymore. i mean, it sounds like, you know, we've talked so much about this track down little did we know that linkedin was just kind of left there and now they're finally having to make that change as well . but it is interesting. so like whenever we talk about linkedin, we don't think about it in terms of like social media, you ask about it much more as a serious sort of job shopping profile that you would go on. and yet i love that we know there know, there are people who do post to it, right. i, i'm not one of them, but there are people who post to it. and every once in a while you see it does have a social feed. but yeah, i agree,

romaine: a wealth of knowledge from karin kimbrough, chief economist at linkedin. thank you for your time. we will continue this conversation, she was there during the last crisis and we will talk to someone a little later was there ring the last crisis, sheila bair. we will talk about the holiday season, a time when many retailers start hiring like crazy. we will talk about the labor shortage and how companies like amazon will deal with that this holiday season. that is next on bloomberg. ♪ caroline: today is a focus on labor ahead of tomorrow's job report. hiring surged in september, gearing up for the holidays. one of the trends we have noticed, the share of seasonable -- seasonal jobs, especially training levels before 2019 and 2020. this shows how much seasonal jobs per million are down in the yellow line, versus what we saw in 2019 and 2020. are people trying to do what they can with what they have got? romaine: i don't know. i'm a little worried. we had some big disruptions the last couple years because of the pandemic but you wonder if we will be facing tha

it's hitting linkedin profiles now no more linkedin china. >> it's interesting.have to keep in mind it's a big world. and larry fink just yesterday, julia, said there had been big flows into china from europe interesting to see how tech reacts globally on these changing winds. >> yeah, absolutely. when it comes to social, companies like facebook have never really been able to operate there. people can access it through vpns, but it is a different world when it comes to social platforms in china. >>> after the break, lebron james' business partner maverick carter on the new funding round backed by nike epic games and more. >>> plus, more on the nasdaq rally, this morning. "techcheck" is just getting started. ♪ it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's net

i have built linkedin. we have built workday. is a whole stack of how do you go from a very diverse person or two or three people and then get to massive scale? emily: what is the plan about the future of investing? it is getting super competitive at that level. reid: everyone knows technology is where the future is. it is where the capital is going and you see prodigious amounts of capital deployed at all stages of technology companies. there is a bubble but it is also clearly the future and so you have to look through different advantages. ours is that early couple of founders building into amazing companies. emily: it is interesting with your portfolio which you would look at 10 years ago and see consumer stuff. now you see transportation networks potentially of the future. aurora with self driving cars. convoy self driving trucks. electric aircraft kit autonomous but liberally vehicles. what is the overall strategy? reid: it might be overly generous with instincts and apply your playing into but i like networks that help rede

and actually it's been a very big topic of discussion here the hashtag microsoft to close linkedin chinaing number 12 right now on the top -- among the top-trending topics on social media a lot of people have been talking about how this is going to be really tough for them because they enjoy going on linkedin to be able to search for jobs for english-speaking jobs to look to really broaden their prospects. this is something that a lot of people have been saying is really too bad for a lot of chinese people and one other thing that was kind of interesting was that the chinese version of linkedin actually left out a lot of the discussion about the difficult environment that microsoft has said -- linkedin said it found itself operating in. so there's been a lot of discussion about how different the two countries are at this point. >> and what sort of the real reasoning is, microsoft said it will shut down due to a significantly more challenging operating environment and they will instead launch a jobs search site in the reason that doesn't have linkedin's social features a major move there

maria: tell me what happened with linkedin? >> sure.omer service telling me that due to prohibitive content somewhere on my profile. the profile would no longer be viewable in the chinese market. now when i reached out to linkedin both through customer service and in my position as a journalist to their press team, they did not explain to me what content specifically was considered prohibitive and they did not tell me whether or not the chinese government had asked for my account to be blocked or if they may taken their own europeal list of prohibitive topics and that's quite important because apple does maintain according to new york times reporting a list of prohibitive content that is internally maintained by employees. if linkedin has its own list, we need to know are they self-cep sorrying on -- censoring on behalf of the chinese government. maria: you have been reporting on the ccp of its efforts to overtake the united states and to invade places like hong kong as well as as i mentioned putting military bases up around the south c

she was soon censored by china's linkedin platform.elf to the world and believe it's important to inform you due to the presence of prohibited content your profile and public activity such as your comments and items you share with your network won't be made doable in china. what was your first thought when you saw that? >> my first thought was that previously i had to wait for the chinese government itself or for chinese cen sores employed by private chinese companies in china to do this kind of censorship work. this is an american company with its own employees sending me an email from the u.s. telling me that they are the ones who are enacting this censorship on behalf of the chinese government. it reminded me of zoom, which was doing the same thing last year. >> dana: so why would linkedin do this? >> what happened was earlier this year the chinese government basically forced them to do a rectify indication. meaning they were in trouble with the chinese government for their lacks censorship of their platform. in 2014 linkedin began

linkedin was the last of the remaining major american social media companies operating in china. green pass, showing proof of vaccination, a negative test or recovery from the virus. anyone without one faces suspension from work and stoppage of pay and a fine of up to 15 hundred euros. but some businesses say that rather than encouraging vaccination, the rules will cause more major disruption to the economy. professor michele geraci is a former undersecretary of state at italy's ministry of economic development. why do some people think this will cause more harm than good? low the general perception is that the green path is discriminatory on the basis of income, like you say, you can obtain the green path either through the vaccine all the covid test that needs to be done every two days. the vaccine must be free but the testis vaccine must be free but the test is paid by the individuals. so the rich people can choose, they want the vaccine, get the test but the poor people cannot afford the testing. poor people cannot afford the testinu. , ., , .,, testing. they would be obliged

ending the official linkedin site.edia. at this price it looks very good, very healthy. how much more room to go is there above this? >> with microsoft we think there is five to 15% upside. because let's face it, they focus on everything that is important about technology. cloud, software, digital ads, gaming. they're a monster company and they're becoming a staple in the tech sector. we'll always need microsoft services. again, just like zoetis they will help provide volatility control with steady growth. liz: do you think today's rally as we broaden this out, do you believe that this is great bank earnings or is there something more afoot? we've heard a lot of people say don't count out the u.s. economy. it is growing. it will not shiver too dramatically. the stock market won't get too jittery once we start to see tapering by the federal reserve. anything you're concerned about here? do you feel we should be all in on equities? >> i'm starting out saying i'm cautiously optimistic. there are plenty of things to worry

microsoft shutting down its local version of linkedin in china.-- microsoft said the chinese are making it too difficult to do business there linkedin was the last major u.s. operated social network still operating in the communist country. it launched there back in 2014 with limited features so to adhere to strict chinese internet laws. now, microsoft reports it will launch a job search site in the region without linkedin's social features >> street artist banksy's painting called love in the bend just sold at auction for $25 million. the original price or piece showing a girl reaching for a heart-shaped balloon went for about a million, then famously shredded itself as soon as the gavel dropped. remember that? the presale estimate this time around between $5 million and $8 million, but after ten minutes of bidding, that high estimate tripled in reality >>> and mcplant. mcdonald's testing beyond meat's plant-based patty in eight u.s. restaurants next month it's the first time the mcplant burger will hit u.s. stores after an initial rollout in som

coming up, microsoft moving linkedin out of china and a bitcoin nears $60,000.gs with maria" live on fox business. ♪ welcome to allstate. where you can pay a little less and enjoy the ride a little more. ♪ ♪ ♪ ♪ now, get new lower auto rates with allstate. because better protection costs a whole lot less. you're in good hands with allstate. click or call for a lower auto rate today. you're in good hands with allstate. click or call for a lower today, things can be pretty unexpected. but your customers, they still expect things to be simple. and they want it all personalized. with ibm, you can do both. businesses like insurers can automate it processes across clouds. so agents can spend more time on customer needs. and whatever comes your way, you've got it covered. saving time and improving customer service, that's why so many businesses work, with ibm. ♪ ♪ traveling has always been our passion, even with his parkinson's. but then he started seeing things that weren't there and believing things that weren't true. that worried us. during the course of their disea

a british ceo asks on his linkedin page whether he should grant leave to an employee who just got a puppy. most felt the boss should not grant paid time off. nearly 40% said it would be a good thing. the ceo said the employee and his dog would be working from home for the time being. >> didn't you say that tha wanted a puppy? >> i also want leave. i want us to take a trip around europe. >> why is that puppy living a better life than me? >> that's not how it works? >> it's not how it works. you have to train that puppy. >> across europe. >> no. you stay at home. >> storm one of three we are tracking is creating slick spots out there. good morninggood morninggood mor peninsula. san mateo, foster city. certainly seeing some light showers. you can see even 680 wee likely seeing some slick spots as well. here's the san mateo bridge right now. it's a similar story over the bay bridge this morning. so the story story showers out there. right now it's also a mild morning. oakland at 60 degrees. time very light in nature. the biggest concern we have is slick roadways. later today low-to-mid 60's f

the service makes linkedin the last major network to pull out of the mainland.trategy will be focused on job hunters. boeing is said to have found faulty components in a 787 airliner. titanium parts will need replacing on some jets made in the past three years. boeing says the issue does not present any immediate concerns. the playmaker has more than -- planemaker works to gain approval from u.s. regulators. shery: take a look at some other markets trading right now. we are seeing the asx 200 gaining ground. we continue to see the leaders being tech and materials, at a two week high. gaining for a second consecutive session. we see the aussie dollar around a five-week high against the u.s. dollar. commodity currencies doing well. the kiwi dollar was one of top performers among the g10 currencies. kiwi stocks rallying for a third consecutive session. when it comes to nikkei futures, we are seeing some upside. we could see an extension of those gains we saw in the last session. the japanese yen one of the worst performers among the g10, at the 113 level against th

matt: that was reid hoffman of greylock partners, linkedin co-founder.are getting some of the results in from major university endowments that are getting even more major. harvard reported return that lagged its peers in the latest fiscal year. the school's endowment return 34% at the end of june. not bad but trailing brown and dartmouth. harvard's endowment is still one of the biggest in the world. $11 billion over the 12 months. the funds value hit a record $53 billion at the end of the fiscal year. this is bloomberg. ♪ ♪ this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insuli

virginia and those clean energy jobs possible as a kick off the programming youtube twitter and linkedin please join the conversation today will be joined by my colleague andrew friedman to the infrastructure and budget bill and discuss. >> in the first guest is a senator from california joining us from los angeles. thank you for being with us. >> thank you for having it is a timely and important topic. >> and how you think the bipartisan infrastructure bill and that democrats are trying to move to the budget process and also to get a sense of what are the top priorities for the measures? >> there is a lot to unpack. number one not just the need to act that the urgency. there has been a debate. clearly the bipartisan infrastructure package so those that will achieve and if you're not convince we have to tackle climate with urgency in the flooding it caused new york and new jersey and other areas in many parts and suffering from another record-setting wildfire season the extreme weather patterns the sustain drought and then to go big on climate a unique opportunity at this time with those

linkedin was the last major operated social media in that company.onment and greater compliance requirements in china. instead microsoft is going to launch a job search sitein tha country that doesn't have some of the social features that linkedin has we're going to watch that. stock up almost 1.5%. >> it comes amid other headlines from microsoft this week coming out of the big army conference in d.c. that big multibillion dollar hallow lens contract with the u.s. army is halted to walgreens topping earnings estimates boosted by higher than expected covid vaccinations, six months on the job roz brewer is laying out her vision for the company and bertha coombs joining us with an interview with brewer. bertha >> thanks, morgan. walgreens is doubling down on combing pharmacy and primary care services in store announcing a $5.2 billion deal in primary care provider village md, that doubles its stake to more than 60%. plans to roll out 600 clinics by 2025 in under served and urban and rural areas, part of the company's launch of integrated services under

others sent us publicly available annual reports and listings on facebook and linkedin.ll you what the fossil fuel companies have not produced. these organizations have not produced the funding information that we requested and that we need to understand their payments to shadow groups and to over 150 public relations companies. and advertisements on social media. nearly all the companies have failed to turn over board materials the committee needs to examine corporate strategies on climate change. and with only a few limited exceptions the fossil fuel companies have not produced any internal documents or communications from senior executives about their company's role in climate change. i have tried very hard to obtain this information voluntarily but the oil companies employ the same tactics they use for decades on climate policy, delay and obstruction. well, that ends today, members of the committee that i intend to issue subpoenas to those represented here today. i have draft subpoenas here. please know that i do not take this step lightly when republican dan burton

a british video posted a poll on linkedin, asking if he should allow an employee to have paid time offmore than 60% of them saying, no way. >> some people joked that people have officially gone crazy. others took the employee's side, calling it a life event. >> the ceo decided to let the employee work from home for a few weeks. look at this policy passed, i feel like "ace ventura" pet detector can take nine weeks off. >> it's bonding. >>> next, queen elizabeth is offering her version of thanks but no thanks. >> she was invited to accept an award from a magazine called "the oldie." the award is known as the oldie of the year. the queen turned it down saying, you are only as old as you feel. and therefore, a more worthy recipient should be found. >> driving home the point, the ear-olqun had neuses leadss yesterday. >> to a fashion statement in baseball. >> atlanta braves outfielder peterson has been wearing a string of pearls on the field for the last three weeks. he likes how they looked in a jewelry store. he bought them. >> maybe they are good luck. since he started wearing them, he h

with some of the companies that estelle was talking about, tiktok, imessage, twitter, snapchat, linkedinube. who is right, the ftc or facebook? catalina: that is a very tough call, so we will have to wait and see, but the problem is this entire outage facebook has gone through has not made its own case stronger. indeed, if you look at instagram and the products developed including reels as a way to mimic tiktok, and the different products available in instagram, are a testament to what you were mentioning, that there is competition in the market. at the end of the day, a lot of social media companies will wind up developing the same product. this is what estelle was mentioning, the interrelation of these companies the ftc has taken a lot of concern with. we have seen not just facebook was down, we've seen instagram was affected, whatsapp was affected, even oculus vr, the other company facebook holds peer that is the main concern. adrian: i want to get some comments from all of you on the facebook whistleblower, frances haugen, her testimony, that facebook executives chose profits over sa

or they were very much linkedin to the merchant deletion countries and some other regional powers, but they lost all those supports the last, the constituency, because they were incompetent to keep them there were, but they couldn't resist because they were not enough for i did what not enough, mobilized or enough for motivated to resist. it is a stella by an insight specifically and very mountainous. karen told that the region is getting changed, that he gin is much more supporting taliban present and him cobbled than anybody else because the region, the fear that he jordan was having from spillover in golf insecurity and not a coach affecting all those things are going to be controlled and somehow managed by taliban who promised her the original power, specifically moscow, china, india, diplomatic presence and dora for past many years, it is not new for her. and the special representatives of moscow in china to communicate with taliban as such her concerns. okay, so basically it sounds like phase is saying there's not a lot that the anti taliban forces can do. let me take the questio

are you on facebook, instagram, or linkedin ever search on google or yahoo? this is just a partial list of places that surveillance vendors, social net is watching. if you or your friends spend time in any of those, or dozens of other cyber and neighborhoods, here's what social net subscribers can learn about. you start with a name or alias search social networks, search for friends, followers, or following it even retrieve additional information like locations, tommy's or other helpful clues. you can visualize one to one correlations, as well as multiple relationships and networks of people into the thousands of records. through link analysis, social net can uncover key puzzle pieces for investigations of all kinds. clients of companies like social net and case where and shadow dragon and other similar vendors include intelligence agencies, government, police corporations, even schools. how much are we to blame for our dwindling personal privacy? is our t boned bus co host an investigative journalist, spend swan or hole in the really is just a few companies

with some of the companies that sell was talking about the tick tock i message twitter snapshot, linkedin signal youtube, who's right, we have to see a facebook that's a very tough call, adriane. so i think we're going to have to wait and see, but the problem is that this entire outage that facebook has been going through has actually not made its own case stronger. because indeed, if we look at instagram and if we look at all the products that have been developed, including reels as a way to mimic tick tock. and the different types of products that are available on instagram are really testament to what you were mentioning earlier. that indeed, there is a competition on a market. and at the end of the day, a lot of social media companies will end up going and developing the same product. however, this is exactly what a cell was mentioning the inter relation of all of these companies that the f t c has also taken a lot of concern with. so we have seen that not just facebook was down, we've seen that instagram was effected, whatsapp was effected and even oculus b r. so one of the other com

were also reported across a variety of sites and services, including bank of america, tick tock and linkedin. genesis and compensated chandra mall. question how such a vast company can be so vulnerable to a technical failure? facebook. oh is a one trillion dollar company and i always outages happen a watts. it happened in april and june of just this year. you actually google outages or any other big companies. apple happening quite so frequently. so it's a bit bizarre that facebook has a problem with this. it seems to be that all of their, these properties oculus, instagram, whatsapp, and basement all run through some sort of similar server. facebook is now sort of saying they were making upgrades and, and, and program or gotten locked out or something. sounds fishy sounds really strange. the fact that this and facebook always a privacy problems and they always have problems there and they always go offline. it went down to one. so it's, it's very suspicious. and it's also suspicious that facebook seems to have bigger problems than most tech companies with these issues. and, and i would whis

my own account was censored in china and linkedin did not say that.k and a hard place. >> bill: why were you kicked out? >> they didn't actually tell me. when the email i received, they told me the summary section of my profile contained prohibited content but didn't tell me what it was. when i asked them 4 different times to tell me what was the content and under what chinese law was it prohibited? they did not respond. there has been a lack of transparency on the part of linkedin that continues today. they are withdrawing their china based app they continue to dodge questions. >> bill: why should we care? why not let china run the business they want to see if it works out? we have seen capitalism works in america. >> well, the problem is that what the chinese authorities are trying to do is export their censorship and surveillance and repression abroad through companies. making it a prerequisite if the companies want to operate in china they must censor content. >> bill: thanks for coming back. we will stay on the story. thank you. new hour. preside

we talked about linkedin which china owns. they are shutting downlinked inn in china.edia features this year. no impact on the stock. it was only social media company in the u.s. allowed to operate in china. even that is now, it is now not allowed. stuart: because they did not want to give a degree of control over linkedin to the communist party of china, is that the reason? susan: i would say also it was rare for china to allow, twitter facebook are not allowed and instagram are not allowed to operate in china, microsoft, linkedin, it was supposed toed to be a jobs board. it had gotten political for beijing authorities. stuart: the stock no impact on that stock price. nike they're in the news. susan: joining "fortnite" maker epic games joining lebron james's production company spring hill. that valued at $125 million. a lot of money chasing a lot of celebrity-backed production houses. reese witherspoon sold hello sunshine for $900 million. stuart: if you're famous, create a production company and sell it. susan: all the content providers like netflix are throwing mone

recognition behaviors of silicon valley vc, specifically basing an investment decision entirely on their linkedinle. rather, we try to understand the distance they traveled and underwrite the people, fully recognizing their ideas might shift, but the people who solve the problem won't. emily: maria, you are a former refugee yourself. you worked for the immigration lobbying group founded by mark zuckerberg. i'm curious what insight that gave you into others' experiences that might be similar but different than your own? maria: the numbers can speak from themselves. in the u.s., we know that 20% of the self-employed population happen to be foreign-born. when you look at just unicorn companies, those over $1 billion, that gets closer to 50% of them being founded by these. when you look at our economy, whether small businesses, the mom-and-pop shops or the most sophisticated technology companies, google, apple, tesla, all founded by immigrant entrepreneurs. there is a journey and muscle to innovate. when you think about who has a competitive advantage and a global viewpoint to build global companies

that's essentially one year of ad revenue for linkedin.ing is a growing business and this is why it is such an important target. but this is the latest in a year of where you start to see that. draftkings has been on quite the tear when it comes to acquisitions. they've had to acquisitions and this was going to be potentially the third one and that is where you can see draftkings trying to get bigger and bigger. i want to end here talking about the market reaction. . matt: can i jump in and commend you for saying acquisition. the term merger is so wrong. i find it hard to believe any kind of combination can be a merger. certainly it has to be pretending to be a combination of two equals. draftkings was going to buy them. this was not a merger at all. after that rent about how they gaming industry has reacted. kriti: indeed, acquisition it was but now you are seeing them walk away. this was a big deal for the casino industry. there is going to be rising sympathy with draftkings. who isn't doing so well is mgm because they have a joint ventu

that precious linkedin members of parliament and their constituents and there are things we can do toisks but ultimately i think we all want to carry on meeting directly with constituents and that's all we can do is try to manage that risk. have you ever had any situations during your constituency surgeries we felt unsafe, threatened or even had have someone remove from them because things were getting uncomfortable?— because things were getting uncomfortable? . ., �* ., uncomfortable? nave. i haven't had that but i uncomfortable? nave. i haven't had that but | think— uncomfortable? nave. i haven't had that but | think what _ uncomfortable? nave. i haven't had that but i think what is _ uncomfortable? nave. i haven't had that but i think what is interesting l that but i think what is interesting is as we understand more about this case and what happened to david is we were advised that the police that if there is a problem it is someone who has a track record of making threats before and that escalates. i think what would be very concerning in this case would be if that was not the ca

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