Peloton co-founder John Foley's newest startup secured $25 million on the claim that the rug market requires innovation. His services include Orthopedic Medicine with special interests in Orthopedic Surgery and Sports Medicine. In December, Foley held an invite-only holiday party for Peloton instructors, even as the company froze hiring and canceled a companywide event. Peloton founder John Foley stepped down from his CEO role on Feb. 8 following a tumultuous period for the connected fitness company. John Foley, SJ. #award #business These leadership changes are the culmination of a succession planning process that the Board and John have worked on together over the last several months, a Peloton spokesperson said. When we went into the fitness equipment category ten years ago, people were scratching their heads, he said. He then went to medical school at New York Medical College. "I look forward to working with him and invite you to welcome him with open arms., The change came after Peloton's stocks plummeted, resulting in what McCarthy says is a need to implement a "succession plan.". Playing soccer with his 9-year-old daughter, Mae. Apple, Amazon and Nike are among the firms rumored as potential suitors. John D. Foley (1918-1999), American bomber gunner in World War II. Our external announcement commemorates two of our co-founders and their many contributions. "However, given our finding that on average, post-IPO performance is lower for firms with founder-CEOs, investors looking to get in after a company has already gone public would be wise to take a less founder-friendly approach and investors, board members, and executive teams alike will benefit from proactively encouraging founder-CEOs to move on before they reach their expiration dates.". June 5, 2019, 3:21 PM. . The lawsuit will be filed against the CSPD, the city and the officers, the release said. John Foley Director of Quality & Execution, Global Scientific Training - ID/Vaccines/Gen Med Philadelphia, PA. John Foley Radiologic Technologist - HCA Healthcare . The business has performed strongly, returning 1.8 billion to shareholders since listing in October 2019. 1104 others named John Foley are on LinkedIn See others named John Foley. He is married, and they have six children and five grandchildren. We started out in a 900-square-foot space hung up a black tarp to cover the kitchenette and delineate the cycling studio for streaming; tin foil on the windows. Use tab to navigate through the menu items. Dalvin Gadson's attorneys announced today, Dec. 16, they will hold a news conference on Dec. 21 in front of the Colorado Springs Police Department headquarters to announce the filing of a federal lawsuit on behalf of their client. Peloton unveiled a turnaround plan Tuesday that calls for thousands of job cuts and replacing its CEO after the onetime pandemic darling has faced a series of black eyes over the past year. Still, at 40, he couldn't . Rugs might seem an unlikely next product for Foley, who cofounded Peloton in 2012 and famously took it public in 2019, as its exercise bikes and peppy streamed virtual classes faced massive demand during the pandemicthen stepped down as growth slowed and its stock tumbled. Russias War On Ukraine: Daily News And Information From Ukraine, Bayern Munich Remain First But Must Switch Off Complacency Ahead Of PSG Fixture, More Ex-British Challenger 2 Tanks Are Bound For Ukraine As London Doubles Its Pledge, This African Country Of Millions Is Without PowerHeres What We Know, REI Workers In Cleveland Vote To Join The Retail, Wholesale And Department Store Union, What It Took To Bring Daisy Jones And The Six To TV, Texas GOP Censures Rep. Gonzales For Supporting Same-Sex Marriage And Gun Safety, New England Patriots Reportedly Set To Release Brian Hoyer, Leaving Two In The Quarterback Room, Salesforce Gapped Higher On Better-Than-Expected Earnings. [3], Born in 1971, Foley received the Bachelor of Science in Engineering from Georgia Tech and the Master of Business Administration from the Harvard Business School.[4]. In 2001, he earned an MBA from Harvard Business School. I am hungry, I am humbled, and I have time on my hands to do this company myself.. Born in 1971, Foley received the Bachelor of Science in Engineering from Georgia Tech and the Master of Business Administration from the Harvard Business School. John Foley, the chief executive of Peloton, seems a bit uncomfortable with sporting a company logo as a fashion choice. STUDIO DREAMS When the kids programming is done and I have time off, I like to go tour real estate. Based on Psalm 34, "The Cry Of The Poor" by John Foley musically reinforces this scripture passage through it's beautiful refrain, "The Lord hears the cry of. Peloton did respond to a request for comment by press time. Bayern Munich is keeping pace with Borussia Dortmund at the top of the table ahead of the season-defining clash against Paris Saint-Germain on Wednesday. Orthopedics Dr. Foley is certified by the American Academy of Orthopedic Surgeons and the California Orthopedic Association. We want to hear from you. No one knows this better than Peloton Co-founder and CEO John Foley, who has one of the most epic "No-to-Yes" stories in startup history. Aside from the leadership shakeup, Peloton will lay off approximately 2,800 employees as demand for its products slows from its peak in the early days of the COVID-19 pandemic. But there are bad reasons, such as "founder shares that secure your leader-for-life status in the empire," he said. Foley became a billionaire as Peloton shares surged but lost his billionaire status in November 2021 as the stock price plummeted. The inspiring lead solo pilot of the Blue Angels has been recognized as one of the top 10 Most in Demand Keynote Speakers in the world and is regarded by top performing companies in almost every industry as the go-to expert in teamwork, leadership, trust and high performance for organizations around the world.. John P. Foley, MD, (COL, U.S. Army, Ret'd) practices general urology. John Foley is a cofounder of exercise equipment company Peloton; he resigned as CEO in February 2022 as the stock fell and stepped down as chairman in September 2022. I do this several times throughout the day. Peloton co-founder and former CEO John Foley has resigned as executive chairman of the board . "Chopping logs is serious exercise," says the . Jen Cotter, Chief Content Officer, will assume oversight of our apparel and accessories strategy and operations. Before that, Peloton investor Blackwells Capital . 2023 CNBC LLC. Jill works so hard., As does Mr. Foley, 49, who put himself through college working nights at a Skittles factory, and who has been steadfastly evangelizing home workouts since 2012. Ultimately I believe that's severely limiting and a single point of failureI believe it's critical a company can stand on its own, free of its founder's influence or direction," Dorseywrote in a memoto Twitter employees. He will also join the connected fitness companys board of directors. John Foley has been replaced as CEO of Peloton by the former chief financial officer of Spotify and Netflix, Barry McCarthy. All Rights Reserved. Im excited to work with Karen, Dion and Tammy in their new or expanded roles as well as each of you as we pivot into the growth phase of our transformation. Find Dr. Foley's phone number, address, insurance information, hospital affiliations and more. View John Foley's profile on LinkedIn, the world's largest professional community. One of its treadmills was involved in a child's death. The up-gunned, tracked MT-LBs are further evidence of the Kremlins worsening equipment crisis as it struggles to make good its losses in Ukraine. Mark Zuckerberg says Meta now has a team building AI tools and personas, Whoops! Use of military rank, job titles, and photographs in uniform does not imply endorsement by the Department of the Army, US Marine Corps,or the Department of Defense. Peloton CEO John Foley celebrates at the Nasdaq MarketSite before the opening bell and his company's IPO, on Sept. 26, 2019 in New York. John Foley, the chief executive of Peloton, seems a bit uncomfortable with sporting a company logo as a fashion choice. Sometimes he goes old school, buying firewood and lugging it around the West Village. "I love Peloton," McCarthy said, adding "We own this.," referring to the company's alleged errors. Once the lights are right, I put Cowboy Junkies Radio on Pandora, which is really perfect for Sunday morning, kind of spiritual. DIVIDE AND CONQUER And then a kids activity starts, for which my wife and I divide and conquer. ", "Preparing for growth takes courage at all phases," Sood wrote. Coming off a soccer game, the place we loved and had been going to for 10 years, Hudson Diner, closed. "I own this," he said. Bachelor of Science in Engineering, Georgia Tech; Master of Business Administration, Harvard Business School. For a venture firm, writing an early check to a founder who built a household name and took it public is typically a no-brainer move. Select this result to view John Joseph Foley's phone number, address, and more. The embattled founder will leave the company's board of directors, Peloton . He was born in 1997 to a simple American family with a non-background in business. Jeffrey Sonnenfeld, senior associate dean for leadership studies at Yale School of Management, said that 20 to 30 years ago, the trend from many venture capitalists would be to push out founding management at a critical change in the life stage of a company, "then the quote-unquote 'professional management' came in," he said. He has also served as a president of Barnes & Noble. The second best result is John W Foley III age 70s in Mashpee, MA in the Monomoscoy Island neighborhood. 3 beds, 2 baths, 2099 sq. You may opt-out by, Covering venture capital, cloud and startups. Foley is a competitive cyclist and triathlete. ", "Our data shows that the presence of a founder-CEO increases firm value before and during IPO, suggesting that a founder-friendly approach actually makes a lot of sense for VCs, who typically invest while companies are still in their earlier stages and cash out shortly after they IPO," the authors wrote. Prior to founding Peloton, John spent six years in manufacturing leadership with Mars Inc. The El Paso County Sheriff's Office released more information on a shooting that occurred in the Lorson Ranch Neighborhood earlier Monday morning. Things have been quite turbulent as of late for Peloton. Peloton cofounder John Foley unexpectedly announced his resignation as CEO on Tuesday. Still, the overhaul may not be enough to placate Foleys skeptics, including activist investor firm Blackwells Capital, which has publicly pushed for his ouster and for Peloton to sell itself to a tech giant. And in addition to Kushi, who worked with Foley at IAC properties Pronto.com and Evite.com, and Feng, two Peloton cofounders who are launching Ernesta with Foley, the company counts five former Peloton managers as founding team members: chief marketing officer Alan Smith, chief operating officer Jamie Beck, vice president of people and business operations Kristy Foss, head of design Eric Hwang and vice president of product Marissa Vivori. Primera lectura: Gnesis 12:1-4a Salmo responsorial: 32:4-5, 18-19, 20 y 22 Segunda lectura: 2 Timoteo 1:8b-10 Evangelio: San Mateo 17:1-9. Throughout 2020 and much of 2021, Foley was worth around $1.5billion and listed on theBloomberg Billionaires Index. "The challenge for us now is to figure out the rest of the business model so that we can win in the marketplace and on Wall Street.". document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Last month, Blackwells Capital ripped Foley in an open letter and called for him to be replaced due to what it described as his repeated failures to effectively lead.. The company sells branded exercise apparel in its 15 showrooms and online. The fitness-equipment maker said co-founder John Foley resigned in a management overhaul, as the company is in the midst of a restructuring, slashing costs to reflect reduced demand for its products. There have been some efforts to try to figure out exactly what that founder-CEO shelf life is. I've served as chairman of our board of directors since April 2015. If you would like to customise your choices, click 'Manage privacy settings'. Im a big dimmer guy. Doing laundry, organizing clothes. Founders get to be founders because they see things the rest of us dont and have the courage to go for it. Having been born in Houston in 1971, I love 70s country. Related by education: Harvard Business School. The track record is very varied. Manish Sood, who founded cloud data management company Reltio,wrote in a 2020 CNBC op-edthat the reason he replaced himself as CEO after nearly a decade in charge is that he "recognized that to sustain predictable hyper-growth requires a special set of skills, and Reltio would require a CEO with experience leading public companies. He enlisted in the U.S. Army on July 12, 1989, as a 16T, Patriot missile crew member, and attended Basic Combat Training and Advanced Individual Training at Fort Bliss, Texas. CSM John W. Foley assumed responsibility of the U.S. Army Space and Missile Defense Command on March 3, 2023. He strives to provide his patients with the best care available. The largest trade he's ever made was selling 100,000 units of Peloton Interactive Inc stock on 15 March 2021 worth more than $11,067,000. I want to sing to my daughter sometimes I try that Kenny Rogers song The Gambler. Though Mae really is embarrassed by anything I do at this point. Businessman John Foley and his wife Jill Foley faced problems trying to stay fit while balancing work and family. His other CSM assignments include: brigade command sergeant major, 188th Infantry Brigade, Fort Stewart, Georgia (August 2015-May 2016); brigade command sergeant major, 108th ADA Brigade, Fort Bragg, North Carolina (August 2013-July 2015); and battalion command sergeant major, 2-1 ADA, Camp Carroll, Korea (July 2009-July 2013). Stolen gourmet steaks and seafood hightailed off to Bronx REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, US home prices just did something they haven't done since 2012, JPMorgan Chase requires some workers give 6 months notice before quitting, This Girl Scout cookie flavor is reselling for $100 online -- here's why, Prince Harry was scared to lose Meghan Markle after fight that led to therapy, Prince Harry says psychedelics are fundamental part of his life, Inside Scheana Shay, Raquel Leviss heated confrontation about Tom Sandoval affair, Memphis Grizzlies star Ja Morant allegedly flashes gun at a strip club, Kellyanne Conway and George Conway to divorce, Canadian teacher with size-Z prosthetic breasts placed on paid leave. The departure of Foley, who led the company since its iteration in 2012, resurfaces the question of how long a company needs to be "founder-led.". APN. The C-suite shakeup also impacted Peloton president William Lynch, who will step down from that position and transition to a role as a non-executive board director. I have passion for building companies and creating great teams, and I am excited to do that again in a new space. Karen Boone, the boards lead independent director, will become the chairperson of the board. Heres How To Trade The Stock Now, Peloton Ex-CEO John Foley Is BackWith A Custom Rug Startup And $25 Million, 2022 Billionaires: Cities With The Most Billionaires, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Blackwells Capital argued Foley has effectively given himself a promotion rather than stepping aside to allow fresh leadership for the struggling company. Peloton CEO John Foley naming himself Executive Chairman and hiring a new CFO does not address any of Peloton investors concerns, Blackwells chief investment officer Jason Aintabi said in a statement. The Mark Foley scandal, which broke in late September 2006, centers on soliciting emails and sexually suggestive instant messages sent by Mark Foley, a Republican Congressman from Florida, to teenaged boys who had formerly served as congressional pages.Investigation was closed by the Florida Department of Law Enforcement (FDLE) on September 19, 2008 citing insufficient evidence to pursue . On this Wikipedia the language links are at the top of the page across from the article title. (For years, he spent Sundays personally peddling Pelotons at Short Hills Mall in New Jersey.). Get this delivered to your inbox, and more info about our products and services. The sound brings me back to my childhood in Florida. Peloton said the changes will not impact the member experience. The company is reducing its planned capital expenditures by $150 million in 2022. Fax +1 801-405-5704. Then at 9, when I want people to get ready for bed, I adjust the lighting again easier to get perfect in the evening. Peloton's bumpy road that has seen its stock price drop more than 73% over the last year has raised the question of how long a founder-CEO like Foley should hang on post-IPO, especially if that journey starts to look more like a HIIT and hills ride than an easy one. Dion Sanders will add to his portfolio and assume many of Kevins responsibilities, becoming our new Chief Emerging Business Officer. When he founded the company in 2012, skeptics abound especially among investors. Casual fans come and go. Trying to sit on the beach for a week, I was thinking about it, because I couldnt help myself, Foley said. The company . Remarkably, the Company is on worse footing today than it was prior to the pandemic, with high fixed costs, excessive inventory, a listless strategy, dispirited employees and thousands of disgruntled shareholders, the letter said. Photo by Kimberly White / Getty Images for TechCrunch. Twenty-four-year-old Savannah Poppells family gathered outside the El Paso County jail Sunday looking for answers after her death. Find out more about how we use your personal data in our privacy policy and cookie policy. The Board and I look forward to continuing to work with John as we undertake the search for his successor." John Foley, Chief Executive of M&G plc, said: "It has been a privilege to serve Prudential and M&G for the past 22 years. John is related to Susan L Foley and Mary Elizabeth Foley as well as 1 additional person. Mr. Foleys sensitivity about being mocked is understandable. I also would like to thank Kevin Cornils, who joined Peloton in 2018 as MD, International and became Chief Commercial Officer in 2021. The company plans to sell 50 different styles of machine-made, custom-cut rugs in five colors each, Foley said, at prices closer to retailers like CB2 and West Elm: $8 to $40 per square foot. His special interests include prostate cancer, prostate cryosurgery, erectile dysfunction and penile implant surgery, Peyronie's disease/Xiaflex treatments, voiding dysfunction/BPH (including REZUM), men's health/testosterone deficiency and all aspects of kidney stone surgery. However, on November 4, 2021, Peloton announced a hiring freeze in light of decreased demand for its product, and the company saw shares plummet in response. I would like to update you on several leadership changes at the company. He later . Oh, and Amar is dating my ex-girlfriend, so we talk about girls. It's unclear what the future holds for Peloton and if it can regain the momentum that saw it disrupt the fitness industry. The trick, of course, is affording the exclusive equipment (the new Tread will be priced at $2,495 over $1,500 less than its current model and the bike currently sells for $1,895, neither of which includes classes). And I believe we have it," McCarthy wrote. Dear brother of W. Michael Foley, his wife Ruth of Woburn, Moni See the complete profile on LinkedIn and discover John's connections and jobs at similar companies. Foleys wife, Jill, who had served as Pelotons vice president for apparel, will also exit her role in the months ahead. That'sa very different tonefrom what Foley said on the company's second-quarter fiscal 2022 conference call on Feb. 8, where he acknowledged that the company had "made missteps along the way," that it was "holding ourselves accountable," and he was going to "own" that which included his departure as CEO, several executive and board changes, and a wide range of cost-saving measures, including cutting roughly 20% of its corporate workforce. John "Gucci" Foley. USASMDC develops and provides current and future global space, missile defense, and high-altitude capabilities to the Army, joint force, and its allies and partners, to enable multi-domain combat effects; enhance deterrence, assurance, and detection of strategic attacks; and protect the nation. "Peloton Founder Hits Billionaire Status on Exercise Frenzy", "Peloton's surge in popularity tripled its founder's wealth, making him the latest billionaire minted amid the pandemic", https://en.wikipedia.org/w/index.php?title=John_Foley_(executive)&oldid=1121950308, American business biography, 1970s birth stubs, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 15 November 2022, at 01:14. Prior to starting Peloton, Foley was president of e-commerce at Barnes and Noble. CSM John W. Foley assumed responsibility of the U.S. Army Space and Missile Defense Command on March 3, 2023. These days thats Pelotons new headquarters on 34th and Ninth Avenue, which will be finished this month. CNBC reported last month that Peloton was temporarily halting production of its bikes and treadmills due to a significant reduction in demand. And all of us to our Members. John Foley, co-founder and chief executive officer of Peloton Interactive Inc., stands for a photograph during the company's initial public offering (IPO) in front of the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 26, 2019. True Ventures, which also wrote a sizable check in the round, first backed Peloton in 2015. To support my ministry via Patreon: https://www.patreon.com/chrisbrunelle?fan_landing=trueTo purchase this music: https://www.ocp.org/en-us/songs/1393/turn-t. By Jay Peters. A $400 million factory in Ohio is now kaput. John Foley is a top peak performance keynote speaker and the former Lead Solo Pilot of the US Navy's Blue Angels, a Sloan Fellow at the Stanford Graduate School of Business, and an expert in high-performance teams. Since last November, Peloton bike sales have quadrupled in New York State. John is a former lead solo pilot of the Blue Angels, a Sloan Fellow at Stanford School of Business, a top rated Keynote Speaker to over 1500 organizations worldwide, 'Gratitude Guru', bestselling author and expert in the "how" of high performance teams. I want to control my own destiny., A bruised (in ego and personal finances) entrepreneur of Foleys experience might make for a more motivated one, investors hope. Peloton rose out of a need to make workouts convenient for busy people who want to stay fit. The Wall Street Journal also reported that McCarthy will be laying off about 2,800 employees, equating to a roughly 20% cutback in the workforce. Their workout predicament led to a breakthrough . (For comparison, a basic 5-by-8-foot rug at West Elm listed at $349 would cost $8.73 per square foot.) The Glad to Be Here Mindset is the ethos that enables execution based on a transformative attitude of gratitude. Its kind of like your kids, you cant love one of them more. Chairperson of the Board. Well get the fire going and break down politics and life. But in an exclusive interview, Foley told Forbes hed been thinking about a company like Ernesta for the better part of 20 or 25 years., While still CEO of Peloton, no friends took him up on his offers to help fund such a business, Foley said. He later attended Northern Illinois University earning a BA in Russian Language and Area Studies. Those reports drew a sharp response from Foley, who admitted Peloton was resetting our production levels for sustainable growth but called reports of a full pause false. He also said Peloton was pursuing legal action against a leaker who provided details of its plans to the press. Peloton Interactive Inc. is set to face calls from an activist investor to . Its efficient. Chief commercial officer Kevin Cornils is also leaving. Like us on Facebook atwww.facebook.com/TheSunUSand follow us from our main Twitter account at@TheSunUS, 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, Peloton founder and CEO John Foley reached billionaire status during the Covid-19 pandemic, John Foley speaks during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York. Hedgerow Exclusive Properties. "OK, I don't wear our vests because I actually want to . Salesforce beat earnings-per-share estimates after the closing bell on March 1, 2023. John is one of the world's most in-demand speakers; he has helped over 1,000 companies build a culture of excellence and ignite . He also served as G3 operations sergeant major, 94th AAMDC, Fort Shafter, Hawaii (June 2008-July 2009). March 1st 2023 from 4:00 PM to 7:00 PM at the John Breen Memorial Funeral Home Inc. (122 Amesbury St, Lawrence, MA 01841). What a difference a year and a pandemic make. With Peloton, we didnt know if it would be a success or not, but I knew that working with good people was a valuable way to spend my time, Kushi told Forbes. The house is on Further Lane, one of the best streets in the Hamptons, where boldfaced names like Jerry . ET. Embattled CEO John Foley who . A recentHarvard Business Review studyof the financial performance of more than 2,000 publicly traded companies found that on average, founder-led companies outperform those with non-founder CEOs. Foleys resignation isnt the only executive departure announced by Peloton on Monday. Barry McCarthy, the former CFO of Spotify and Netflix, will replace Foley as Pelotons CEO. A recent study suggests that while founder-CEOs increase the value of a company before and during an IPO, that boost starts to diminish compared to a non-founder CEO. Blackwells said it intends to exercise its right to review Pelotons books and company records. Jack Dorsey shared a similar sentiment when he suddenly stepped down as Twitter CEO in November. He co-founded Peloton alongside Graham Stanton, Hisao Kushi, Yony Feng, and Tom Cortese. Tammy joins us from Uber. On the other side, you have Groupon founder Andrew Mason, who was fired as CEO in 2013, roughly 18 months after the company went public, following a series of Wall Street misses, a declining stock price and very-public mishaps. Pelotons former CEO, John Foley, is launching a new startupand this time its not a bike he wants to sell youits a custom-cut rug. Home decor, and rugs specifically, are not winner-take-all markets, Foley said, adding that the companys research estimated that more than 100 million rugs are sold in the U.S. each year; a Custom Market Insights report from July estimated that U.S. residential rug sales would reach $18 billion this year, and $25 billion by 2030. 370 9th Ave. Suite # 106. Kenyas sole electricity distributor cited a system disturbance as a possible cause for the blackout. Crime Stoppers Security were delighted to receive an award from @businesscork on Saturday night in recognition for 10 years in business. Peloton: John Foley John Foley started climbing the rungs of the corporate ladder at a young age, first as a fast food server and eventually as an e-commerce executive. John Foley is stepping down as Peloton's chief executive. 2022 paid for by Committee to ElectJohn Foley, registered agent, John Foley. As of January 2022, Foley's net worth dropped from $850million in November 2021 to $350million, according to Business Insider. It takes a great deal of insight to recognize when an emerging growth company needs to pivot or change direction as it grows.". December 16, 2022. 2023 Forbes Media LLC. Some 2,800 people lost their jobs mostly because of how poorly . Dalvin Gadson's attorneys announced today, Dec. 16, they will hold a news conference on Dec. 21 in front of the Colorado Springs Police Department headquarters to announce the filing of a federal lawsuit on behalf of their client. First, let me say, there wouldnt be a Peloton without John Foley or Hisao Kushi (or co-founders Tom Cortese, Graham Stanton, and Yony Feng). An official website of the United States government, U.S. Army Space and Missile Defense Command, Space and Missile Defense Center of Excellence, U.S. Army Space and Missile Defense School, Virtual Industry Exchange Forecast Industry Report, Purview (The Space and Missile Defense Journal), Hosted by Defense Media Activity - WEB.mil.

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