The Joyful Win

The Iceland Cricket season has gotten off to a great start. We now have 5 club teams and the first T10 tournament the Sixty Ball Shootout just completed last weekend. Tomorrow we start the Íslenska Premier League (ÍPL) the T20 format. I have been thinking a lot of about what does it take to build a winning culture in a team. I have also been watching a lot of Indian Premier League (IPL) which is almost at its end. The interesting thing watching the teams in the IPL shows a distinct pattern, the joyful teams actually win, you see it in the players. I also believe what brings joy in sports in the winning. It is hard wired into our DNA. The competitive nature but also the joy of winning. The ones who don’t believe in themselves usually are right i.e. they fail. I have been looking for a good examples of where this is evident. It is in the show Ted Lasso.

I have enjoyed watching the series Ted Lasso. If you have not then I highly encourage you to do so if you are interested in team dynamics and sports.

I am also a sucker for sport documentaries and anything to do with sports if you did not know. I saw a tweet about the 10 principles of Ted Lasso and I asked ChatGPT to expand on these and it did a fantastic job. I am going to use this blog post to inspire myself and my Team the Kopavogur Puffins to ponder deeply about playing and building a winning attitude.

Building a winning team in sports requires more than just assembling a collection of skilled athletes. It requires cultivating a particular mindset, an attitude that permeates every individual member and unifies them as one unstoppable force. Here are ten fundamental principles to remember when building a successful team in sports:

  1. Believe in Yourself: Confidence is the cornerstone of success in sports. Believing in one’s abilities fosters resilience in the face of challenges, empowering athletes to push their limits and strive for excellence. Every team member should be encouraged to recognize their potential and to have faith in their individual contributions.
  2. Winning is an Attitude: Success in sports is as much about mindset as it is about physical ability. Fostering a winning attitude means maintaining a relentless pursuit of victory, even when the odds seem stacked against you. This mindset doesn’t just inspire success; it breeds it.
  3. All People are Different People: Every athlete brings a unique set of skills, perspectives, and experiences to the team. Recognizing these differences is crucial in building a winning team. This diversity of talent and thought can be leveraged to create innovative strategies and unexpected breakthroughs on and off the field.
  4. See Good in Others: Recognizing the strengths of each team member is essential. When individuals feel valued, they are more likely to contribute their best to the team. Celebrating each other’s successes fosters a supportive team culture and enhances overall team performance.
  5. Forgive First: In sports, mistakes are inevitable. Cultivating a forgiving culture is crucial for maintaining unity within the team. When team members are quick to forgive, they build a resilience that enables the team to rebound from setbacks quickly and continue striving towards their shared goals.
  6. Stay Teachable: The best athletes know that there’s always room for improvement. Embracing a mindset of continuous learning enables team members to constantly enhance their skills and knowledge, driving the team’s progress forward. Being open to feedback and new ideas is a trait of a truly winning team.
  7. Be Curious: Curiosity leads to innovation. Encourage team members to ask questions, explore different strategies, and seek new solutions. A team that embraces curiosity is more likely to push boundaries, adapt, and remain competitive in the evolving world of sports.
  8. Optimists Do More: Optimism is the fuel that keeps a team going even in the face of adversity. A positive outlook inspires higher levels of performance and persistence. Optimistic teams see challenges as opportunities to grow and outperform their competition.
  9. Be Honest: Honesty builds trust, and trust is the foundation of any successful team. Team members should be encouraged to communicate openly and honestly, whether it’s about personal challenges, team dynamics, or performance issues. Transparency ensures that issues are dealt with effectively, keeping the team unified and focused.
  10. Doing the Right Thing is Never the Wrong Thing: A winning team doesn’t just aim for victory; it upholds values of sportsmanship, integrity, and respect. The true measure of a team’s success isn’t just in the trophies won but also in the way it conducts itself on and off the field.

In conclusion, building a winning team in sports requires a holistic approach that considers both the physical and mental aspects of the game. By fostering a culture that values self-belief, a winning attitude, diversity, positive regard, forgiveness, continuous learning, curiosity, optimism, honesty, and integrity, you lay the foundation for a truly winning team.

Guardians of our Galaxies

No, I am not going to write about the Marvel Movie characters but the character or the superheroes that is built into all of us. The Buddha referred to them as the Guardians of the world, I have just expanded it to our galaxies. These 2 characters and values are part of every human being, however they don’t manifest themselves on their own. We need to work hard to make sure they are always present. The guardians are Hiri and Ottappa in Pali. Hiri is our moral conscience, yes everyone has this and Ottappa is our inherent respect for others. In the world of social media where both of these qualities can be decimated and many hide in the anonymity of the technology platform, we as the human community need to work hard to enforce this on each other. This blog post is motivated by the current locking of horns between Facebook and Apple. Apple is changing its privacy policy in iOS 14 where all apps should get the users permission before their data is tracked across the internet. Why am I referring to Buddhist philosophy because of business wars between 2 technology giants? Facebook allows users to instigate hate, anger and violence on its platform with no repercussions or consequences. Don’t believe me all you need to do is check out some of the posts by Marjorie Taylor Greene and one Donald Trump. I am not going to give them a link boost by linking to their posts or their profiles you can search for it yourself. I think both of these politicians and a number of other politicians and fear mongers have used social media to kindle all sorts of trouble all over the world. It is way above my pay grade to talk about whether these technologies should exist or not but I can talk about how did we got here. We got here because Hiri and Ottappa are absent when people write posts on social media, in the guise of freedom of expression and free speech we have allowed the worst of humanity be exposed and amplified through these social networks. Tim Cook’s response says it all:

Technology does not need vast troves of personal data stitched together across dozens of websites and apps in order to succeed. Advertising existed and thrived for decades without it, and we’re here today because the path of least resistance is rarely the path of wisdom.

If a business is built on misleading users on data exploitation, on choices that are no choices at all, then it does not deserve our praise. It deserves reform.

We should not look away from the bigger picture and a moment of rampant disinformation and conspiracy theory is juiced by algorithms. We can no longer turn a blind eye to a theory of technology that says all engagement is good engagement, the longer the better, and all with the goal of collecting as much data as possible.

Too many are still asking the question, ‘How much can we get away with?’ When they need to be asking, ‘What are the consequences?’

What are the consequences of prioritizing conspiracy theories and violent incitement simply because of the high rates of engagement?

What are the consequences of not just tolerating but rewarding content that undermines public trust in life-saving vaccinations?

What are the consequences of seeing thousands of users joining extremist groups and then perpetuating an algorithm that recommends even more?

It is long past time to stop pretending that this approach doesn’t come with a cause. A polarization of lost trust, and yes, of violence.

A social dilemma cannot be allowed to become a social catastrophe.

Tim Cook, CEO of Apple

When do we ask ourselves how much can we get away with? when Hiri and Ottappa are absent. If we allow our moral conscience and respect for others guide us then the answers are usually straight forward. There are no consequences for what is said on social media. Anyone, especially those who want to incite anger, hate and polarization can easily assemble and create frenzy. This just does not feel right. The truth is the truth, do we all have know the truth? in some cases YES we do. We need to act with that moral conscience.

Buddha has shown us the path and it is quite simple, but it is not easy. Being morally aligned to your conscience is the first step, when you have that then concentration or Sati is possible and when you have concentration it automatically leads to wisdom. Wisdom leads to better judgement and this is an uplifting cycle. I cannot emphasize enough that we just need to get off the social networks. They are not our friends. Our friends are our friends. If you want to connect with your friends, call them on a phone, talk to them in person. Do not let technology control you, remember you always have a choice to “turn off” notifications and not install the social media apps.

If you are a technology developer, maybe you can add an extension to these platforms, before anyone posts anything on these platforms rather than stating “You are leaving the page without posting or saving” the dialogue can say “Are you sure you will be proud of these words when your loved ones read it?” or maybe ask the four way test

  1. Is it the Truth?
  2. Is it Fair to all concerned?
  3. Will it bring Goodwill and Better Friendship?
  4. Will it be Beneficial to all concerned?

I can assure you that most of the things shared by people will not pass the above 4 way test.

Cricket

When I was 10 years old, on June 25th, 1983 the Indian Cricket team changed the game of Cricket forever. They went on to win the Cricket World Cup as the most underrated team against the mighty West Indies team. I was hooked onto cricket after that. I dreamed of playing cricket professionally and spent most of the days and nights thinking about and playing cricket. Growing up in the 1980’s in Chennai, Tamil Nadu as a boy meant either you watched and played gully cricket or you took coaching and played for your school. I did the later and I spent hours hitting the cricket ball on a sock tied to a rope in my parents apartment much to the chagrin of the neighbors. My dad and mom were extremely supportive as they always were to me and my brother. My dad encouraged me to play and did the best he could to support my ambition to play.

If you are wondering what the game of cricket is all about, here is a good documentary

Cricket Explained

I played for my school, even switched schools when I was 14 years old to get on a better cricketing team and to be closer to my cricket club. I had to leave home at 5:15 am to get to practice at 6:30 am, I would go to my aunt’s home to shower and then make it to school by 9:00 am. It was intense but at that time it felt normal to me. I enjoyed the game immensely, as everything in life, I started out as average or maybe above average, but due to my persistence and love of the game I got better playing the game. I was selected to play for City in the Under-12 and Under-15 age groups but never got to play in the City games, but I was part of the team and got the coaching. I really enjoyed the training, the learning, the intricacies of the sport.

I played for my Gill Adarsh and made some scores that made it on the newspaper. My dad, cut them out and had them preserved, the above images are some of those. I enjoyed playing cricket and I was the young one around a lot of older boys in the 1980’s. I started getting deeper into the game, I realized it was extremely competitive and there was a lot of politics involved in who gets to play and who does not. First I realized that I was not that talented to get into any of the teams even if I worked really hard at it, secondly cricket was not a great way to make a living. The path in front of me was quite clear, either I got into a good university or squander trying to make it playing cricket. I more or less decided that I was going to focus on getting into a good university and stopped playing cricket.

The City and the District teams of Tamil Nadu in 1986, yours truly did not play but was part of the squad

Although I stopped playing cricket, I never stopped loving the game. A number of players I trained with during the City team went on to play for India. Also of note is that Sachin Tendulkar the Michael Jordan of Cricket is the same age group and played when I was playing, the only difference is that he went to play for India when I stopped playing cricket in 1989. The rest is history about Sachin Tendulkar. I have bowled to Sachin Tendulkar and he hit me all around the ground, at that time I realized this guys was special and I probably am not going to make it to the Indian team. I focused on studies and I got into BITS, Pilani and I played for the Varsity team. I even scored 50 runs in a tournament final that we hosted in the university against a very good college team from Chennai. Who knows maybe I would have made a living playing cricket if I had stuck to it. The game of cricket has transformed in the last 2 decades due to professional leagues like the Indian Premier League (IPL). I think India has become the epicenter for Cricket due to the IPL.

Fast forward to 2006, I had moved to Iceland and heard that some were playing cricket in a playground near where I lived. I heard that from one of the officers in the British Embassy who also happen to be a Rotarian. Joining the Rotary Club was one of those serendipitous event that turned my journey in Iceland into many things. I joined the group of people to start playing cricket in Iceland. We played in klambratun ground. The pitch and gear were donated by the British Embassy in Iceland.

Cricket in Iceland has come a long way and now we have the Iceland Cricket Association and the Iceland Premier League. I got a chance to play in the finals of the 2020 championship game and the Kopavogur Puffins won the match. It was a lot of fun to get back to playing cricket. I am looking forward to more practice and more matches. Who says you have to be an young man to play cricket? As long as I am having fun and I have my physical fitness I think I should be able to play.

Kopavogur Puffins – the Iceland Premier League Champions of 2020

Boston Marathon 2014

I got an email from Marathonfoto that my photos during Boston Marathon 2014 are marked down 30% and I should get them. I got them and here is the gallery of the pictures. It was my last full marathon and probably the best time given the kind of preparation that I had.

Pudiyador

Manix and I enjoying Valdis Ice cream when he visited Iceland in 2018

My friend Manickam Narayanan visited Iceland in 2018 on the way back from Canada where he was competing in Ultimate Championship. It was great to meet him and talk about everything, since I had not seen him for over 25 years. While we were talking about a number of things, he mentioned the NGO that his parents founded almost 20 years back called Pudiyador. I was inspired to hear him talk about how Pudiyador is working at the grassroots in Chennai, empowering and educating women and children in slums that are very close to where my parents used to live. I offered to help in anyway that I can, we promised to keep in touch and said our goodbyes.

On an Elephant to the Jaipur Fort

My family and I went to India in December of 2019. We spent a week in Chennai and a week traveling to Delhi, Agra and Jaipur. It was a memorable trip. When I was in Chennai, I met with Manickam and Jessica, the Outreach Director for Pudiyador. They shared their program details with me and I offered to present their funding requirements as a project to my Rotary Club in Reykjavik to support. I have been a member of the Rotary Reykjavik International Club since 2007. Our club does one project every year where we contribute a small amount of money to help some cause that does not have market support. Rotary organization has been around for a long time and Rotary’s Moto of Service Above Self and the guiding principles with the 4 way test have been a northern light for me personally and professionally. The Rotary way also aligns very well with what I aspire to do with my life. The 4 way test is

  1. Is it the TRUTH?
  2. Is it FAIR to all concerned?
  3. Will it bring GOODWILL and BETTER FRIENDSHIP?
  4. Will it be beneficial for ALL concerned?

I have used the above questions when I have been stuck in a dilemma about decisions. I have not written more about this part of my journey but I thought 2020 might be not a bad year to start. Organizations like the Rotary or the Lions Club have done incredible work over the years where market forces have failed. Bill and Melinda Gates Foundation contributed a $100 million grant in 2007 in partnership with the Rotary International to End Polio. Rotary International committed to raising another $100 million to support the End Polio campaign. I remember this very well because that was my first year as a Rotarian. Rotary has done incredible work to end polio and as of 2019 we have eradicated 99.9% of cases, there are only 2 countries where this virus is still found. I know we will end polio because of the commitment and efforts of Rotary International. Bill and Melinda Gates foundation has continued their support in this partnership and a new $450 million funding effort is underway.

Coming back to my conversation with Jessica, the outreach director of Pudiyador and Manickam. I shared with them the news that I had shared the activities of Pudiyador to my Rotary Club. My club members with the support of our current President Raymond Snider had unanimously approved supporting Pudiyador. I suggested to Jessica and Manickam that they find a local Rotary Club in Chennai and my Rotary Club in Iceland will partner with them to raise funds to support Pudiyador.

Jessica, wrote me a note saying that they had found a Rotary Club in Chennai willing to partner with our Rotary Club in Iceland. Here is the email that Jess wrote to me:

Thank you both so much for your willingness to support Pudiyador. We are very excited to connect with both of you! Before, I dive into the details of everything, I just wanted to give brief introductions so that we are all on the same page. Bala is a good friend of one of the co-founders of Pudiyador (Manickam) and a member of Reykjavik Rotary International Club. Ramkumar is the father of Swapnaa’s friend (PT Arun) whom we reached out to once we understood that we needed a Chennai partner to collaborate with Reykjavik Rotary International Club. Ramkumar is a veteran from Rotary Club of Madras Metro and he was formerly the district governor that included Chennai. Incidentally, he met the governor of Rotary’s Iceland district while he was there on a visit last year. We feel like this connection was bound to happen!

Ramkumar and Bala, as you are well aware, Chennai is on lockdown. Although we had initially reached out to you for an infrastructural project, we think it is best to move it to the backburner until this pandemic settles, and focus on our urgent relief efforts.

Pudiyador has been providing relief grocery packages to roughly 200 of the 1700 families in the communities that we operate in since April 6th. These 200 are families with infants and children who have been attending our programming, but the larger population needs our help too. Over the past week, we have partnered with a few other NGOs in Chennai who are doing similar work in other communities and starting today (April 22nd), we will be providing meals to over 1000 families every day. With the lockdown extended to May 3rd, and the worrisome global trends, it is becoming increasingly clear to us that as an organization, we need to be thinking in the 1-3 month range (at a minimum) in terms of providing immediate relief for our communities.

Currently, it is costing us roughly 700 INR to feed a family of 4 for a week. Therefore, approx 47.6 lakhs INR ($68,000 USD) will feed 1700 families in Pudiyador communities for the month of May. 

During a call with Swapnaa, Ramkumar mentioned that the collaboration between the Reykjavik and Madras clubs would be for a Global Grant. What steps need to be taken to apply for such a grant? 

I look forward to hearing from you both.
Stay safe and healthy.
Warm regards,
Jessica

Email from Jessica Broder, Outreach Director, Pudiyador

The above note struck another cord with me, I want to believe that we have eradicated hunger from our world but that is not the case. The communities supported by Pudiyador just don’t have the means to even feed themselves if they are unable to go out and work. There is no public safety net in India. I know it is not a popular thing to say but that is the truth. India for all its progress and advancements still struggles with giving equal opportunities for all its citizens. I have a renewed focus now to help and serve. The first project is to help Pudiyador get as much funding as we can raise so we can get those communities back on their feet.

My Rotary Club invited the Rotary District Governor Anna Stefansdottir to participate with us in the project to raise funding for Pudiyador. Anna, not only was willing to support by contributing funds into our project but also encouraged all the Rotary Clubs in Iceland to participate. This was a great boost to the efforts and we are well on the way to raise enough money to support over 1700 families during these times. The funding is going to be used to provide provisions to the families and we are looking to buy tablet computers which can be used to keep the kids from these communities engaged in learning. I am inspired by all the support for help that I have received from my club members and other Rotarians.

COVID-19 has shown how vulnerable our economic system is even in the most advanced countries. The way we have managed to keep our communities fed and functioning can be totally disrupted if we all need to be on a lock down. The easy way is to down play the issue but the truth is we need to find alternative ways to manage. Universal Basic Income has been thrown around as viable alternative, I think it could work. The challenge is always how can you make this equitable?

We have been here before…

It hurts to see what is happening in the United States of America as I write this blog post. Racism and tribalism in all its form has never been a good. Maybe it served us when we saw the world as a place with limited resources which is no longer the case. The human potential is built from within and it is not in some of us it is in all of us. Some of us have the privilege to activate that potential for greater good and a lot of us do not and struggle to maintain or sustain our lives. It is the responsibility of those who have the privilege to pull our brothers and sisters out. We have had a number of role models like Mahatma Gandhi, Martin Luther King Jr., Nelson Mandela, Dalai Lama who have done this through time and history can be a great teacher.

Mahatma Gandhi is an inspiration and if you see or read about his work there are a lot of places where his human foibles are highlighted but what is true is he rose above all that through his moral superiority. Make no mistake about it he was human and with all the faults. I am inspired every time I watch the following clip from the movie Gandhi. The case in point is the salt tax law that was imposed by the British on India.

From the Oscar Winning Movie – Gandhi by Sir Richard Attenborough

The British Empire ruled over India for many years and Gandhi through his Sathyagraha, (Sathya – Truth, Graha – Insistence) a Peaceful, Non-Violent, Civil Disobedient Resistance movement crippled the mighty British Empire. A lot of stories have been written about the Indian struggle for freedom. I don’t believe it is any different today. There is a need for every single one of us to self determination. A lot of people live under oppressive regimes and it is impossible for them to get out of the grips of aggression, violence and move towards the democratic rule of law. I understand that and I am not proposing that the struggle is easy. We, the collective humanity need to work towards a day where every human born and living in this planet can enjoy the same freedom as is given in a place like Iceland.

Anger and violence is what we resort to when we are not self aware. History has always shown that violence enables a short term win for the most violent, but in the long term it never solves anything. All social causes are defined by the time it is in fashion. What is the truth? that is for everyone of us to discover.

Incentives matter… A Lot

There has been a flurry of news about the Libor Scandle, JP Morgan trading losses and the whole banking industry once again starting to slide down the slippery slope of moral failure. I have worked for a bank and I feel I have seen the belly of the beast. I am also a student of economics and the first law of economics is that Incentives influence people’s behavior a lot. I was reading a very interesting article by the New Yorker Magazine with the title “The Money Empathy Gap“, this one statement resonated with me:

Putting someone in a role where they’re more privileged and have more power in a game makes them behave like people who actually do have more power, more money, and more status.

I have seen this behavior with employees within the bank, they suddenly inflate and act like they are superior to everyone else when they have to influence a decision to lend money or when the client needs to renegotiate terms of a loan. It has nothing to do with their ability to really assess the true risk of the situation, but just the fact they have the power to influence a decision the banking executives acted way superior to anyone. These are decent, honest, hardworking people who would not act that way in their homes or with their friends. Incentives matter and influences behavior. I also feel and know that the incentives i.e Salary, Bonuses, Stock Options, Perks and Benefits given to banking executives is disproportionately higher than other industries. It actually makes those working for the banks feel they somehow are superior to the rest of the community. I am not trying to say that we need to make the compensation for everyone the same on the contrary I think the financial services firms because they control flow of capital seem to be disproportionately rewarded for all the wrong reasons. The trading loss incurred by the JP Morgan trader occurred because he obviously has a bonus that is tied to this net return at the end of the day so he had an incentive to take disproportionate risk on the trading floor. This is easier for a trader working for the bank because he is not playing with his own money, it is a balance sheet actually already inflated because of the privilege that banks have i.e they can multiply their balance sheets 10 to 12 times the actual equity they have in the business. I think both of these things drive the risky behavior in banks. I think we need to rethink the incentives we give to traders, banking executives and the board of banks. In addition, banks should be barred from having the privilege to bet their balance sheet on the stock market. It provides for perverse incentives.

Leverage and Fat Tails – Nassim Taleb

English: This is a photograph from the assortm...
English: This is a photograph from the assortment of freely available pictures at Nassim Nicholas Taleb’s web site. (Photo credit: Wikipedia)

The post is direct quote from Nicholas Nassim Taleb‘s writings at Fooled By Randomness

141 Why does leverage in an economy generate (or exacerbate)  fat tails? A purified proof

There is no need to write a complicated model (precise but stupid, the kind of stuff complexity idiots write to get academic credit), simple rigorous arguments can prove with minimal words and no mathematics how fat tails emerge from some attributes of complex systems. This argument is a  Dynamic Hedging-style (Taleb, 1997) argument.

A- Why fat tails emerge from leverage and feedback loops, single agent simplified case.
A1 [leverage]- If an agent with some leverage L buys securities in response to increase in his wealth (from the increase of the value of these securities held), and sells them in response to decrease in their value, in an attempt to maintain a certain level of leverage L, 
and
A2 [feedback effects]- If securities rise in value in response to purchasers and decline in value in response to sales, 
then, by the violation of the independence between the variations of securities, CLT [the central limit theorem] no longer holds (no convergence to the Gaussian basin). So fat tails are an immediate result of feedback and leverage, exacerbated by the level of leverage L.
A3 – If feedback effects are convex to size (it costs more per unit to sell 10 than to sell 1), then negative skewness of the security and the wealth process will emerge. (Simply, like the “negative gamma” of portfolio insurance, the agent has an option in buying, but no option in selling, hence negative skewness. The forced selling is like a short option.)
Note on Path dependence exacerbating skewness: More specifically, if wealth increases first, this causes more risk and skew. Squeezes and forced selling on the way down: the market drops more (but less frequently) than it rises on the way up.

B- Multi-agents: if, furthermore, more than one agent are involved, then the effect is compounded by the dynamic adjustment (hedging) of one agent causing the adjustment of another.

C- One can generalize to anything, such as home prices rising in response to home purchases from the Greenspan liquidity, etc.

Bill Gross @Idealabs

Bill Gross
Bill Gross (Photo credit: jdlasica)

To get a thumbs up for innovation from Bill Gates is nothing to sneeze about. Bill Gross has done just that. Bill Gates just wrote a note about Bill Gross in his Gates Notes. I have been following Bill Gross for as long time now. He is the quintessential ideas guy, he has been doing this since he was a teenager. I wish we had role models like him in India. We were taught that working for the Government was the best job one could get. I still remember my mother urging me to take up a job with the Indian Railways and how that would secure my future with at easy 9 to 4 job! what a concept! anyways, I digress. This post is about Innovation and how to make it sustainable and solve big problems because that is what Bill Gross has created in Idea Labs. There are 5 key things that he outlines in the video and so does Bill Gates. How can we create an environment that fosters these things?

  1. Embrace failure as learning: Employees don’t fear loosing their job if an idea does not work – it allows them to take risk
  2. Bold Ideas are important, but they can fail: Try bold things that have a high chance of not working, its still learning
  3. The market place is not always ready for a new idea: Old ideas that are shelved can come back if a market has changed
  4. Go places where others are too afraid to venture: Get excited about things that are in the white space of what others won’t do – the best ideas come at this intersection
  5. Analyze, Assess and Move on: It takes a dissection of the strengths and weaknesses of all systems, coupled with statistical analysis, to quickly cancel out the ideas that won’t work, in order to land on a completely new idea.
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