Innovation Policy: Technology Regulation and Industrial Strategy
INFO
YOUTUBE2026-05-28techcrunch
How to Know Your Idea is Legit: Validation, Failure & Shipping What Sticks | StrictlyVC Athens 2026
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How to Know Your Idea is Legit: Validation, Failure & Shipping What Sticks | StrictlyVC Athens 2026
Entrepreneurs must cultivate self-trust through small wins to step outside their comfort zones. The journey from idea to product adoption is complex and requires resilience and adaptability based on feedback.
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Entrepreneurs
- Emphasize the importance of self-trust and small wins in building confidence
- Highlight the necessity of validating ideas through direct customer engagement
Market Challenges
- Acknowledge the potential biases in customer feedback that can mislead validation efforts
- Point out the difficulties in balancing demand and capacity during product development
Neutral / Shared
- Recognize the significance of macroeconomic conditions in identifying market opportunities
- Stress the importance of collaboration across disciplines to foster innovation
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Entrepreneurs must cultivate self-trust through small wins to step outside their comfort zones. The journey from idea to product adoption is complex and requires resilience and adaptability based on feedback.
- Entrepreneurs need to build self-trust, which often starts with achieving small wins that encourage them to step outside their comfort zones
- Victoria Tolis decision to study computer science at Stanford instead of economics exemplifies how taking significant risks can enhance confidence in ones creative abilities
- Johannes Galatsanos diverse experiences living in various countries and industries have driven his intrinsic motivation to seek new opportunities and embrace risks
- Both founders stressed the necessity of validating ideas prior to development, with Galatsanos noting his shift into quantum technologies as a crucial career turning point
- The conversation highlighted that the journey from concept to product adoption is typically complex, requiring resilience and adaptability based on feedback and market demands
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OTHER
20 yearsyears
details
CONTEXT: Johannes Galatsanos' industry experience
WHY: Long-term experience can contribute to deeper understanding and expertise
EVIDENCE: for the last 20 years or so in the industry.
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05:00–10:00
The discussion emphasizes the importance of validating entrepreneurial ideas through direct customer engagement and understanding urgent customer needs. Founders share experiences that highlight the necessity of adaptability and a strong team in navigating the complexities of product development.
- Founders highlight the necessity of validating ideas through direct customer engagement, emphasizing that understanding customer needs is essential for effective product development
- Victoria Toli introduces the idea of a hair on fire problem, which signifies urgent customer needs that create immediate demand for solutions, indicating a strong market fit
- Johannes Galatsanos underscores the importance of collecting data points to validate both technology and market potential, advocating for iterative tinkering as a key to product success
- Both founders agree that assembling a strong team is crucial, as the teams adaptability and innovation significantly impact the products relevance in a fast-evolving tech environment
- Toli recounts an instance where a customer was willing to pay double for early access to their product, demonstrating clear demand and validation of their business concept
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10:00–15:00
The discussion focuses on the necessity of addressing urgent customer problems to ensure product adoption. Founders share their experiences of adapting their ideas based on customer feedback and market needs.
- Victoria Toli and Johannes Galatsanos emphasize the need to solve urgent customer problems, referred to as hair on fire problems, to drive product adoption
- Toli explains Finneys shift from a database for financial advisors to incorporating automation tools, highlighting the demand for actionable insights
- Galatsanos discusses the hurdles faced in developing a novel quantum camera, stressing the importance of identifying a niche market willing to tolerate early usability challenges
- Both founders share experiences of past failures, with Galatsanos mentioning unworkable applications in microscopy and semiconductor fields, while Tolis initial QA testing concept attracted less interest compared to Finneys offering
- The conversation highlights the critical role of customer feedback in guiding product development and the necessity for ongoing adaptation to align with market needs
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OTHER
20,000 per secondunits
details
CONTEXT: chip processing speed comparison
WHY: This highlights the potential efficiency of the new technology over existing methods
EVIDENCE: we calculated about 20,000 per second
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15:00–20:00
The discussion highlights the importance of validating entrepreneurial ideas through direct customer engagement and understanding urgent customer needs. Founders emphasize the necessity of adaptability and a strong team in navigating the complexities of product development.
- The Mom Test framework illustrates how even close acquaintances may offer polite but misleading feedback, urging founders to ask deeper questions about the real pain points their solutions address
- Founders often prefer encouragement over honest feedback, which can distort their understanding of their ideas viability; effective validation hinges on grasping the actual needs and challenges of potential users
- Johannes emphasizes the need to balance government funding with private investment, as reliance on government contracts can impede progress due to slow approval processes and extensive reporting requirements
- Victoria points out that early networking at conferences could have accelerated their growth, highlighting the importance of personal connections in relationship-driven sectors like wealth management
- Both founders recognize that being overly cautious with spending and hiring can stifle growth, advocating for a more proactive approach when market demand is clear
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20:00–25:00
The discussion highlights the challenges founders face in balancing demand and capacity while navigating product development. Founders emphasize the importance of adaptability and problem-solving to ensure product success.
- Founders often struggle to balance demand and capacity, as demonstrated by a company with a waitlist of 200 firms but limited resources to serve them
- The necessity of abandoning favored features or use cases that do not match market timing or demand was highlighted, including a microscopy application that faced delays
- One founder noted the pitfalls of over-relying on AI technology, which resulted in the removal of autonomous features due to high error rates, stressing the importance of a user-friendly interface
- The discussion emphasized the critical role of problem-solving in product development, indicating that while deep sector knowledge is advantageous, it is not essential for identifying market gaps
- Networking and relationship-building at conferences were recognized as vital strategies for early-stage companies to effectively harness demand and enhance visibility
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OTHER
200 firmsunits
details
CONTEXT: of firms on the waitlist for the product
WHY: Indicates strong demand for the product despite limited capacity
EVIDENCE: we had this wait list during white coordinator of 200 firms who wanted to use our product
OTHER
100x more frequenttimes
details
CONTEXT: frequency of hallucinations in AI models
WHY: Highlights the challenges faced in relying on AI technology for product functionality
EVIDENCE: the hallucinations were 100x more frequent than they are now
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25:00–30:00
The discussion emphasizes the importance of identifying macroeconomic conditions and customer needs in product development. Founders share insights on leveraging technology and collaboration to foster innovation and address market demands.
- Identifying favorable macroeconomic conditions, such as the Great Wealth Transfer in wealth management, can uncover significant opportunities for new products
- Successful entrepreneurs should focus on solving problems that resonate deeply with people, utilizing technological advancements to make previously unfeasible ideas possible
- While AI can be a useful tool for market research and brainstorming, it is crucial to recognize its limitations and use it to analyze market trends rather than just generate ideas
- Collaboration across various disciplines can lead to innovative solutions, as diverse expertise can reveal unique opportunities that a single expert might miss
- Teamwork and cross-sector collaboration are essential for fostering creativity and developing successful products
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$83 trillionUSD
details
CONTEXT: wealth transfer to younger generations
WHY: This significant transfer of wealth presents unique market opportunities
EVIDENCE: $83 trillion are changing hands and are getting passed down to the younger generations.
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The discussion focuses on the necessity of validating entrepreneurial ideas through customer engagement and adaptability in product development. Founders share their experiences with abandoned concepts and the importance of aligning features with user needs for successful adoption.
- The importance of validating ideas before development, emphasizing the founders experiences with abandoned concepts and the necessity of adapting features to meet real user needs, ultimately leading to successful product adoption
INFO
YOUTUBE2026-05-28techcrunch
How Great Startup Partnerships Are Built | Best of Build Mode
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How Great Startup Partnerships Are Built | Best of Build Mode
This episode of Build Mode revisits effective startup partnerships, highlighting the importance of compatibility among co-founders, investors, and team members. Guests share experiences and strategies for navigating chal…
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Pro-compatibility
- Emphasizes the importance of compatibility among co-founders and investors for successful partnerships
- Highlights that trust and interpersonal connections are crucial for effective collaboration
Caution against over-reliance on compatibility
- Neglects external factors such as market conditions and competition that can impact partnership success
- Assumes compatibility alone drives success, potentially overlooking critical variables
Neutral / Shared
- Encourages proactive relationship-building with investors to foster supportive partnerships
- Stresses the need for structured environments for ongoing dialogue to address potential conflicts
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00:00–05:00
This episode of Build Mode revisits effective startup partnerships, highlighting the importance of compatibility among co-founders, investors, and team members. Guests share experiences and strategies for navigating challenges in these relationships.
- Startup partnerships can encompass various relationships, including those with co-founders, investors, and team members
- Jasper Carmichael-Jack, CEO of Artisan, recounts his experience of finding a co-founder through a LinkedIn job listing, which ultimately did not succeed, illustrating the difficulties in selecting the right partner early in a startup journey
- The episode stresses the necessity of thorough vetting in co-founder relationships, as compatibility is vital for navigating the intense challenges of startup life
- Ian Schmidt from Trimergence highlights the importance of creating frameworks for conflict resolution and communication within teams to foster trust and address issues proactively
- The dynamics of married co-founders are explored, suggesting that personal relationships can significantly impact business partnerships, contrasting with those who find co-founders through professional channels
METRICS
OTHER
October of 2022
details
CONTEXT: the time when Jasper Carmichael-Jack started the company
WHY: Establishing a timeline for co-founder relationships is crucial for understanding partnership dynamics
EVIDENCE: I met through a LinkedIn job listing, who I started the company with, um, I think in October of 2022
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The episode discusses the dynamics of effective startup partnerships, emphasizing the importance of self-awareness and open communication among co-founders. It highlights the necessity of structured environments for ongoing dialogue to address potential conflicts.
- Effective startup partnerships hinge on self-awareness and open communication regarding individual strengths and weaknesses, which can be clarified through mapping
- Establishing a structured environment for ongoing dialogue is essential for proactively addressing potential conflicts within teams
- Married co-founders Hala Jawani and Alessio Trestani stress the importance of clearly defined roles to maintain personal and professional boundaries
- Their co-founder, Leo, plays a crucial role in mediating discussions, emphasizing the need for a stabilizing presence in co-founder dynamics
- The iterative nature of their discussions highlights the significance of continuous collaboration and trust in a startup setting
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10:00–15:00
The episode discusses the dynamics of effective startup partnerships, emphasizing the importance of self-awareness and open communication among co-founders. It highlights the necessity of structured environments for ongoing dialogue to address potential conflicts.
- Clearly defined roles among co-founders, whether married or not, help maintain focus on individual responsibilities while aligning with overall company objectives
- Solo founders may struggle with imposter syndrome due to the need to excel in various areas, as highlighted by Leah Solivans transition from a technical founder to CEO
- Trust is essential in both co-founder relationships and investor partnerships, with successful collaborations often rooted in strong interpersonal connections and shared values
- Founders should proactively build relationships with investors early, rather than waiting until they are in a crisis, to foster more supportive partnerships
- When assessing potential investors, founders should consider the personal relationship, the investors reputation, and the investment terms, as these elements greatly influence long-term collaboration
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OTHER
15 peopleunits
details
CONTEXT: current team size
WHY: Indicates growth and scaling of the startup
EVIDENCE: we are more than we're getting to 15 people now.
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15:00–20:00
The episode explores the dynamics of effective startup partnerships, focusing on the importance of compatibility among co-founders, investors, and team members. It emphasizes that prioritizing this compatibility can lead to a more effective and harmonious work environment.
- Founders should choose investors based on the unique value they offer, such as financial backing, brand recognition, or expertise in crisis management
- Raising funds enables founders to assemble a diverse group of investors, each contributing different strengths that can drive the startups growth
- Compatibility among founders, investors, and team members is essential; prioritizing this compatibility fosters a more effective and harmonious work environment
- Rejection from potential investors can redirect founders toward more suitable partnerships, highlighting the need for alignment in vision and values
- Focusing on attracting compatible investors can expedite the fundraising process, creating a multiplier effect in terms of opportunities and support
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20:00–25:00
The episode discusses the importance of effective partnerships in startups, focusing on cofounder dynamics, team trust, and investor relationships. It emphasizes the need for compatibility over credentials when selecting investors to foster growth.
- The episode highlights the critical role of effective partnerships in startups, focusing on cofounder dynamics, team trust, and investor relationships
- Guests share insights on finding cofounders online, managing conflicts, and balancing personal and professional lives
- Strategies for selecting investors who align with a startups vision are discussed, emphasizing the importance of compatibility over credentials
- Sarah Lucena from Mappa explains how prioritizing compatibility during fundraising can attract suitable investors and foster growth
- The episode encourages listeners to engage with the podcast and the startup community, promoting collaboration as key to successful ventures
INFO
YOUTUBE2026-05-26tbpn
The Lean Startup Author on What Ruins Good Companies
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The Lean Startup Author on What Ruins Good Companies
Eric Ries discusses the importance of maintaining foundational principles in entrepreneurship despite evolving tactics. He highlights the risks of overfunding and the need for founders to stay focused on their mission to…
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Support for Mission-Driven Governance
- Advocates for the importance of maintaining a strong mission to ensure long-term value creation
- Highlights successful examples of companies that prioritize customer needs and resist external pressures
Challenges of Implementing Mission-Driven Models
- Acknowledges the diverse pressures companies face from investors and market conditions
- Questions the feasibility of universally applying mission-driven governance structures
Neutral / Shared
- Recognizes the evolving nature of corporate governance and the need for innovative structures
- Discusses the potential impact of AI on corporate practices and employee engagement
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00:00–05:00
Eric Ries discusses the importance of maintaining foundational principles in entrepreneurship despite evolving tactics. He highlights the risks of overfunding and the need for founders to stay focused on their mission to ensure long-term value creation.
- Eric Ries emphasizes that while specific tactics of the Lean Startup may evolve, the foundational principles remain crucial in a rapidly changing environment
- The accessibility of technology enables more individuals to launch products quickly and affordably, which can result in both streamlined startups and instances of overfunding that distract from entrepreneurial focus
- During economic bubbles, funding dynamics can vary significantly, with some startups facing challenges in securing capital while others receive excessive funding, potentially undermining the original drive that fueled their success
- Ries stresses the need for founders to maintain control over their companys mission, warning that raising too much capital too soon can divert attention from core objectives and impede long-term value creation
- He provides examples of companies that have effectively raised funds while remaining committed to customer needs, demonstrating that a strong mission can align with financial success
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20 million dollarsUSD
details
CONTEXT: amount needed to start a business in the past
WHY: This highlights the changing landscape of startup funding and accessibility
EVIDENCE: You needed 20 million dollars to be a business.
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05:00–10:00
Eric Ries discusses how companies often stray from their foundational principles due to short-term financial pressures and governance structures. He emphasizes the importance of mission-driven cultures to maintain long-term value creation.
- The governance structure of a company plays a crucial role in its future, affecting the balance of control between founders and investors, which in turn impacts performance and decision-making
- Short-term financial strategies, such as cost-cutting, can degrade product quality and customer satisfaction, as seen in the elimination of complimentary services in hotels following private equity buyouts
- The book proposes a framework for establishing mission-controlled companies that unify stakeholders around a shared purpose, shielding them from external pressures that may compromise their original mission
- Quarterly earnings reports can obstruct long-term strategic planning; transitioning to semi-annual reporting might empower CEOs to pursue greater risks and focus on sustainable growth, although it could also result in significant issues being overlooked
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$1 millionUSD
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CONTEXT: initial funding round
WHY: Initial funding sets the stage for future growth and governance dynamics
EVIDENCE: $1 million series seed
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$5 millionUSD
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CONTEXT: subsequent funding round
WHY: Subsequent funding can shift control dynamics within the company
EVIDENCE: $5 million series A
OTHER
20 something keysunits
details
CONTEXT: hotel capacity
WHY: The size of the hotel impacts the customer experience and service quality
EVIDENCE: something like 20 something keys
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10:00–15:00
Eric Ries discusses the detrimental effects of quarterly reporting on long-term value creation, highlighting a 5% reduction in total equity value. He advocates for a shift towards more comprehensive reporting that prioritizes long-term insights over short-term metrics.
- Eric Ries emphasizes that quarterly reporting can lead to a 5% reduction in total equity value, as it encourages companies to prioritize short-term gains over long-term product development
- He argues that the focus on quarterly results transforms the quarterly report into the main product, overshadowing the actual goods or services offered
- Ries advocates for a transition to more comprehensive reporting that provides long-term investors with valuable insights, rather than minimal disclosures that emphasize short-term metrics
- He critiques shareholder primacy for fostering harmful corporate governance practices and suggests a shift towards mission primacy that balances profit with broader societal benefits
- Ries highlights the difficulties faced by public-benefit corporations in managing diverse stakeholder interests, noting that traditional bottom line approaches can complicate decision-making for CEOs
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LOSS
5%%
details
CONTEXT: reduction in total equity value due to quarterly reporting
WHY: This significant loss highlights the impact of short-term reporting on company valuation
EVIDENCE: it's roughly a 5% loss of total equity value.
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15:00–20:00
Eric Ries discusses how companies often deviate from their foundational principles due to short-term financial pressures. He emphasizes the importance of mission-driven cultures and innovative governance structures to sustain long-term value creation.
- Public Benefit Corporations (PBCs) legally empower CEOs and boards to prioritize long-term value creation, mitigating short-term profit pressures from investors
- Companies like Costco and Patagonia illustrate how mission-first cultures can resist corruption and promote sustained success as they grow
- Innovative governance structures, such as long-term benefit trusts seen in companies like Anthropic, can enhance long-term value and stability, with evidence indicating they improve the chances of companies reaching their 50th anniversary
- Transitioning from quarterly to biannual reporting may alleviate short-term performance pressures, enabling companies to focus on their missions and long-term objectives, which could also benefit accountants and lawyers by shifting their focus
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$400 billionUSD
details
CONTEXT: Costco's market capitalization
WHY: This illustrates the scale at which mission-driven companies can operate successfully
EVIDENCE: Costco is a $400 billion dollar public company.
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20:00–25:00
Eric Ries discusses how companies often drift from their foundational principles due to short-term financial pressures and governance structures. He highlights the importance of mission-driven cultures and innovative governance to sustain long-term value creation.
- Mondragon, a network of worker cooperatives in the Basque region, was established to empower workers, resulting in a diversified conglomerate that employs 90,000 individuals
- Unlike traditional for-profit corporations, Mondragon operates as a collection of independent cooperatives that self-govern and can exit the network if it no longer serves their interests
- The existence of Mondragon challenges the belief that cooperative business models cannot thrive in the U.S, where similar structures like credit unions exist but are less common than traditional corporations
- Founders often face discouragement from pursuing alternative business models due to conventional advice from legal and financial advisors, who tend to emphasize immediate profitability over long-term mission-driven objectives
- The saying its always too early until its too late reflects the hesitance of advisors to endorse innovative business structures, potentially leading to missed opportunities for incorporating mission-protective measures in new ventures
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25:00–30:00
Eric Ries discusses the impact of short-term financial pressures on companies, emphasizing the need for mission-driven cultures to sustain long-term value. He highlights the role of employee ownership and innovative governance structures in promoting sustainable business practices.
- Successful companies often prioritize long-term missions over short-term profit, which is crucial for sustained success
- Research indicates a positive correlation between employee ownership and company performance, suggesting that higher ownership levels lead to better outcomes
- The emergence of AI is prompting shifts in corporate structures, as seen in recent negotiations where workers demand a share of AI-generated profits, indicating a move towards equitable profit distribution
- Alternative business models, such as employee-owned companies, are gaining popularity as sustainable practices that can withstand short-term pressures
- Historical examples like Toyota and a network of worker cooperatives demonstrate that companies with a strong mission can succeed despite economic systems favoring short-term gains
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30:00–35:00
Eric Ries discusses the challenges mission-driven companies face in maintaining their values amidst external pressures and short-term incentives. He emphasizes the importance of strong governance structures to sustain long-term value creation.
- The challenges faced by mission-driven companies in maintaining their values amidst external pressures and short-term incentives, emphasizing the need for strong governance structures
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OTHER
50%%
details
CONTEXT: Costco's potential income increase
WHY: This highlights the impact of pricing strategies on profitability
EVIDENCE: they would increase their net income by 50% and not lose any sales
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35:00–40:00
Eric Ries emphasizes the importance of mission-driven cultures and strong governance structures in companies to resist external pressures and maintain long-term value. He advocates for operational integrity and customer loyalty as foundational principles for sustainable business practices.
- Founders should cultivate a strong operational ethos that emphasizes customer loyalty and integrity, ensuring their companies embody meaningful missions
- To withstand external pressures and uphold their missions, companies can implement governance structures such as public benefit corporations and long-term trusts
- The discussion underscores the need to view profit margins as potential vulnerabilities, as excessive profit extraction can undermine long-term competitiveness
- Founders are urged to reconsider corporate structures to ensure that mission-driven values endure beyond their leadership, fostering sustainable growth and marketplace trust
- There is a growing trend of mission-driven entrepreneurs discovering new business opportunities by leveraging these frameworks, resulting in innovative solutions within traditionally extractive sectors
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OTHER
1%%
details
CONTEXT: percentage of readers who generated new business ideas after reading the book
WHY: This indicates the potential impact of the framework on entrepreneurial thinking
EVIDENCE: I think we're up to five or six of them now. It's like, well, come up on 1% of the people who read the book so far.
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