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August 20, 2024 28 mins

Two-time Emmy and three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald, interviewed Dr. Tiffany Bussey.   As the Morehouse Innovation and Entrepreneurship Center (MIEC) Founding Director, Dr. Tiffany Bussey stands at the helm of profit-yielding partnerships bridging the gap between the supplier diversity initiatives at global brands and multi-million-dollar Black and brown businesses. An engaging dialogue with Dr. Bussey around the ways MIEC creates unique pathways to help minority businesses scale using what she calls the three Cs: Capital, Connections, and Contracts. 

Here are some of the interview highlights:

MIEC's engagement with 400 scalable, mid-size minority-owned businesses has been instrumental in creating 850 new Atlanta-based jobs, granting access to $34 million in new capital, and generating nearly $82 million in new revenue growth.

MIEC's unique business education prepares minority business owners to obtain contracts with large firms seeking business-to-business partnerships with small to mid-size businesses.

Atlanta is one of four national accelerator locations for The Clean Tech Infrastructure Academy at Goodwill, a new 4-week program designed to grow the electric vehicle workforce. At the academy, student workers are paid $15 an hour to learn how to install and maintain EV chargers, heat pumps, and solar panels. This training equips them for jobs in the growing electric vehicle industry, where maintenance techs can start earning $30 per hour. 

About MIEC:

·  Since its inception, MIEC has garnered over $50 million in grants and contracts and positively impacted over 2,100 students.

·  MIEC incorporates a holistic approach to supporting the business leaders it serves, providing education, access to capital, procurement opportunities, mentorship, and student involvement.

·  125 minority-owned businesses participating in Ascend Atlanta have experienced an increase in revenue of $13.5 million and have gained access to $5.5 million in capital funding.

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Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:05):
Welcome to the show. I am Rashwan McDonald, the host
of Money Making Conversations Masterclass, where we encourage people to
stop reading other people's success stories and start planning their own.
Listen up as I interview entrepreneurs from around the country,
talk to celebrities and ask them how they are running
their companies, and speak with nod profits who are making

(00:25):
a difference in their local communities. Now sit back and
listen as we unlock the secrets to their success on
Money Making Conversations Masterclass. Hi, I'm Rashaan McDonald, our host
is weekly Money Making Conversation Masterclass show. The interviews and
information that this show provides off for everyone. It's time
to stop reading other people's success stories and really start

(00:46):
living your own. Next us is the director of Morehouse
Innovation and Entrepreneurship Center. They are assisting the development of
minority entrepreneurship through scholarly research, training and consulting services. Please
please walk with the Money Making Conversation Masterclass, Doctor Tiffany Bussy.
Are you doing, Doctor Bussy?

Speaker 2 (01:05):
I am doing Wonderfulora Sean, And first of all, thank
you so much for having me. It is indeed a
pleasure to be here and congratulations on your show.

Speaker 1 (01:13):
Thank you, thank you. I really appreciate that. Now I
gave out a big title here Director of the more House,
which is Morehouse College HBCU, one of the big more
prominent HBCUs in the country. Director of the Morehouse Innovation
and Entrepreneurship CE. What is that?

Speaker 3 (01:30):
Wow?

Speaker 2 (01:30):
Yes, it is about bull But we are really really
proud of the work we've been doing here at We
call it our loving name for it is the MIEC.
We've been doing this work for the past twenty years,
which is really really just focused on helping businesses, black
and brown businesses scale. We believe that our entrepreneurship and

(01:51):
small businesses but one of the pathways in closing the
racial income inequality GAMP in this country. So that's the
work we've been busy doing for the past twenty years,
whether it is working with our students right here on
campus or working with businesses in the community. We see
this work as an important piece in really driving wealth

(02:13):
within our community.

Speaker 1 (02:15):
Well, you know, some doctor busy. The stereotypes drive this
country and drive the world, really because when they start
talking about black businesses, you know what the stereotized do
you have to deal with and trying to understand and
navigate the world of entrepreneurship people with people who are
people of color, who are interested in trying to be
small business owners.

Speaker 2 (02:36):
Sure, and so we hear that every day. Right. The
group of businesses that we work with, and we've learned
this as we've pive our work over the like I
mentioned twenty years, are really what we call scalable mid
size companies. And some may wonder do they really exist,
and I would say yes. We've touched over four hundred

(02:58):
of these businesses over the past twenty years and have
helped them to create over eight hundred and fifty new jobs.
Now that's significant. And the work we do is to
really help these larger what I would call large primes
that say they can't find these businesses to be a
part of their supply chain or their supply and diversity programs,
and we help these programs to really grow in scale

(03:20):
and to make them accessible to these larger companies. I
think with you would agree that we've been doing a
fantastic job because these companies, as they have gone through
all programs and as we've touched them, have really gained
over thirty four million in access to new capital, which
has been one of the biggest barriers we hear about
quite a bit and have really helped them to generate

(03:44):
over eighty two million in new revenues. Now that's not right.
You know.

Speaker 1 (03:50):
The thing about it is that, you know, we thought
all these numbers, we thought about all the success stories,
but it also comes back to the opportunity to get
the shot at the big prize. Now, this center, how
does one you know, how does it? How do you
use your the purpose of the center to impact a

(04:11):
person like me? Say, I'm coming through the door, I'm
contacting you them, Why am I contacting you? And what
will you be able to allow assist me in my
career goals as a small business owner.

Speaker 2 (04:22):
Sure, and thank you for really asking that question, because
one of and it's in the design of our programs.
We know that basically we have heard about the lack
of capital or access to capital. What we don't talk
about quite as much is access to opportunities, as you
have nicely placed it. So in designing our programs, we
are attached to what we call opportunity partners, those large

(04:46):
primes and by the way, we work mostly with companies
that we call B to B. They're really generating services
to serve other businesses. That's the business model that we
work with. So what does that that look like. We
work with these large companies such as your large general
contractors that have huge construction jobs or work and we

(05:10):
design our programs so that when the companies come in
and work with us, they're not only getting access to capital,
but also access to contracts the other see that is
often not talked about. So it's the intentionality of really
creating those opportunities on working side by side with these
large firms to ensure that these small businesses such as yourself,

(05:35):
as you through our programs. This is not just technical
assistant for technical assistant's sake. I like to say, this
is not about bucks and seats. This is about how
do you impact and create opportunities to have these companies
meet and engage with these large primes that have the
opportunities to learn how to navigate that landscape and to

(05:55):
make the contracts available for them as they go through
our programs. We all like to say that we create
a community. This is not a one off for us.
So these four hundred businesses that I told you that
we touch, we are in constant communication with them, sharing
opportunities and making sure that they leave with not only
the information, but also how to implement and to be

(06:18):
ready to deploy for those contracts and to engage with
new revenue. At the end of the day, it's revenue
that drives and scale businesses.

Speaker 1 (06:27):
You know what frustrates me the most. And now what
you just said is that the reputation that the black
community have of not having skilled labor their jobs out there,
that we are not educated or qualifying for. How are
you assisting us in tearing down that wall or that
stereotype that we are not ready and if opportunities presents

(06:50):
itself to us, we're not qualified.

Speaker 2 (06:53):
Yeah, and so one of the things that again is
the intentionality and understanding where these opportunity it is are.
I will share with you that just as recented today,
a few hours ago, as a matter of fact, I
had the opportunity to visit with the good Will industries
here in Georgia. Goodwill, Yes, good Will, the same one

(07:14):
that you know of that provides you know, perhaps use
goods and things like that. Availability. Well, they also do training,
job readiness training. But the reason I was there.

Speaker 1 (07:27):
Doctor busty, old hodly. You just slid through that real quick. Now,
I've been passing good Wills all my life, all right,
I've lived in Houston. Good Will. You go there, you
get closed that you can't afford. You go there and
probably get an old chair or old furniture piece and
you bring it home and hey, you live with it.
That's what you got, that's what you can afford. Now

(07:49):
you're telling me that Goodwill has job training that's not
tied to the in store sales.

Speaker 2 (07:56):
That that's correct. One of the other things that they
do and I'm out here too. They didn't pay me
to sell someone theath of Goodwill. But one of the
other things that they do very well is job training.
I like I said, I was so impressed. I visited
one of their newest training job training facility here in Atlanta, Georgia,
and I must say it was top of the art.

(08:19):
And what we're looking at is to collaborate with Goodwill
in terms of its clean tech training jobs. Now, I'm
gonna break that down a little bit because we talked
about knowing opportunities and being ready for opportunities, and the
way you do that is by being ahead of the opportunities,
and that's exactly what we're looking at. What does that

(08:41):
look like for black and brown businesses to be a
part of this ten trillion dollar global market in sustainability.
Now those are some big fancy words, but all it
means is that we know that global warming is a
thing and it does exist, and that in order to

(09:01):
address that, there is a huge industry that is being
developed and that is about to be launched and is
already launched because the rest of the world is ahead
of us on this in terms of what that means
and how do we create businesses and jobs in that
particular sector to be an active part and to be

(09:23):
at the table and not after the fact. And so
as we have been talking with Goodwill, who is now
doing this training for those that would like to think
of new careers and new opportunities, we are engaged in
helping businesses understand what that market looks like and also
giving them access to these employed individuals. We often hear

(09:48):
and we have already talked about this access to financial capital,
which is usually one of the barriers, the other piece
that we often don't talk about, and businesses will tell
you that is a real thing for them. Is access
to human capital. How do they find the workers? How
do they find skilled workers to meet the demand that
they have? And so, not only are we getting ready

(10:10):
to prepare these businesses to be a part of this
whole sustainability market, but engaging them and connecting them with goodwill?
Who is training the employees that become part of that
work and employable. I'm going to pause it because I
know I said a lot.

Speaker 1 (10:27):
Well, don't pause too long. But I do have a
question because of the fact that whenever you hear courses
and all that money, how can I afford this are there?
You know? Did the word free mean that it's going
to be something that I can take somewhere with a certificate?
How do I enable this relationship to benefit me and

(10:49):
get me out of the indulgence of the lifestyle finances
I'm living in right now? How does that work?

Speaker 2 (10:56):
Well, Rashan, I don't know if I'm here to bring
good use all around. But and I don't like to
use the word three because there's always a cost associating
to everything.

Speaker 1 (11:06):
But on the point they told you you can't use free,
because I'm on the website, I see free now see
see don't tell you, doctor Bussy. I just couldn't believe
you when you say good Will didn't did more than close. Actually,
while we talking, I typed in Goodwill training program bad
No good Will's door popped up. It was about certificates

(11:28):
and the word free was right there. So I'm verified
that doctor Bussy is about to tell you guys the
truth on money making conversations, masterclass, Doctor Bussy, the floor is.

Speaker 2 (11:37):
Yours, and I have a double coupod if you will.
Not only is the training for and we talked about
at the employee level. Right, So I'm an individual out
of a job, looking for a job, looking for reskills. Yes,
I could go to Goodwill and it's at no cost
for me. Not only is it at no cost, Goodwill

(12:01):
in many instances will actually pay you and give you
a stipend for participating in that causs and the time
that you're involved with that retraining number one, there are
many other opportunities on. Like I said, I get no
compensation from Goodwill to talk about their program, but I
know it benefits our community and that's why I am

(12:21):
sharing that. The second piece, however, that I can absolutely
say with all certainty, if you are a business which
is the work that we're in in training businesses and
helping business and soon to stand up a certificate in
sustainability for these businesses that want to be part of
this sustainability sector. Our training is also of no cost

(12:44):
to those companies. We are fortunate and what does that
look like. We are fortunate to have the support of
some wonderful philanthropical organizations such as JP Morgan Chase, Wills
Fargo that pays and provide the resources for us to
develop these training programs that I've talked about. All the

(13:05):
programs that I've mentioned in terms of our small Business
Executive program that I touched over four hundred companies. We
have a particular program called the Assen National Program, wonderful
program sponsored by JP Morgan Chase that was the initial
founder for this. It is a network that brings in
these small businesses and we really focus on how do

(13:28):
we scale them so that they may provide those jobs
for those people that are being trained at Goodwill. You
see how that works and how that connects and in
building that ecosystem. That's what we're about, really creating opportunities
for new jobs, to create pathways in closing this racial
inequality gap that we have in this country that.

Speaker 1 (13:48):
We always talk about, but we don't ever have a
plan or see the options. Are you telling me right now?
Goodwill is offering a plan and options.

Speaker 2 (13:56):
And let's not forget more house because we're on the
other se also, So Goodwill does the training of the employees.
We do the training of the companies that can hire
those employees and come part of the supply chain for
the larger such as the electrical companies and the other
huge companies hopefully like Tesla that are building these wonderful

(14:18):
electrical vehicles, so that we can create that infrastructure to
provide and support those electrical vehicles. That's one example. There's solar.
There's also other sustainable efforts within that sector, but I
just wanted to point those out as examples.

Speaker 4 (14:36):
Please don't go anywhere. We'll be right back with more
money Making Conversations Masterclass. Welcome back to the Money Making
Conversations Masterclass, hosted by Rashan McDonald. Money Making Conversations Masterclass
continues online at Moneymakingconversations dot com and follow money Making

(15:00):
Conversations Masterclass on Facebook, Twitter, and Instagram.

Speaker 1 (15:04):
So let's let's go back four hundred small minority owned
businesses are positively impacted eight hundred and fifty new jobs, created,
thirty four million dollars in capital access, and nearly eighty
two million in revenue growth in the local Atlanta area.
And that I'm speaking to the director of the Mohouse
Innovation Entrepreneurship Center, doctor Tiffany Bussy, doct Tiffany Bussy. Electric

(15:29):
vehicles dominate the industry best the voice one of my employees.
He's thinking about getting an electric vehicle. Black people will
not buying electric vehicle, but that industry is booming because
you got to have someplace to plug that car up.
Talk about the EV industry and talk to my listeners.

(15:52):
They might not be the one, but they might know
somebody who needs to really clearly understand this pathway to
success can't be through EV.

Speaker 2 (16:01):
That and I'm happy to talk about EV, which is
about one hundred and sixty three billion dollar industry. It
has its what I would call its downside, because there's
this what they call anxiety about electrical vehicles. And you're right,
perhaps the lowest segments of those quartering vehicles is perhaps
in our community, which is why we must intentionally build

(16:24):
out the infrastructure to address that issue. I know I
don't have one because I'm going how far can I
drive before I see the next charging station?

Speaker 3 (16:32):
Right?

Speaker 2 (16:32):
We got to have more of those. But I really
want to quickly share that the sustainability industry is only
about one segment with ev There's the Green Bill, which
is about how do we build our homes? How do
we make them more efficient? And that's a three hundred
and twenty four billion dollar industry. So anyone out there
that's in construction, that's listening to your podcast and your

(16:55):
many millions of followers, if you're in constructions and you're
not thinking thinking about how do you build sustainable, don't
leave that behind because you are going to be left behind.
We are thinking about how do we do all these
things in a more sustainable fashion. If you're in agriculture,
a twenty billion dollar industry, we are thinking about how

(17:16):
do we grow our products more sustainable and what does
that look like? Renewable energy again huge nine hundred and
fifty two billion dollar industry. We are talking about a
lot of money and a lot of opportunities, which is
where we started this conversation in terms of how do
we as we think about business opportunity. Let's not think

(17:36):
about that starting another nightclub. We don't need that. What
we need are business within this sector of sustainability in
these eras that I've just mentioned. That's what we're talking
about when we're talking about building successful companies. We got
to think outside the box and our traditional ways of
how we look at businesses.

Speaker 1 (17:55):
We know some I don't even think is outside the box.
It's just open your eyes. That's what we tend to do.
We tend to only see what we feel we are
have access to. And that's what this interview is about,
is that what you're doing at more House and what
Goodwill is doing is providing access an opportunity. What we

(18:15):
have to do is not be naysayers and seek and
jump upon or jump up to the opportunity that's being
presented yourself. And that's why I keep going back when
I'm talking to you about there's so many people standing
at the door not going in. Why is that.

Speaker 2 (18:35):
We do the other side of the work we do
is really about the research about why this is right?
And I think that number one, as a people, historically
we have good reasons for that right. We have not
been treated fairly Historically, we know that if we were
not entrepreneurial in our very nature. Entrepreneurship is in our DNA,

(18:59):
we wouldn't be here as a people number one, because
we survive, right, and that's being entrepreneurial. So I really
push against when people say that you've got to be
born and this cannot be taught. We as people have
all the characteristics I would say of being those calculated
risk takers. Now we also are I would say, not

(19:24):
as open to failure because of so many things that
whatever we do, we have to perform at exceedingly deep
level for folks to accept us, because there are always
that level of doubt. There's always that we cannot do it.
And so one of the things, especially as I work
with my students who are black men at Morehouse, is

(19:47):
truly to break down some of those historical traits that
we understand that our psychological barriers. Right. I could recall
when my son was leaving for college and he you know,
you would think because I teach this, I would certainly
encourage it. But one of the things I thought about,
if he comes back to me after four years of
going to college and perhaps in debt and tell me Mom,

(20:10):
I'm going to open that business. I don't know how
I would react.

Speaker 3 (20:14):
I would go get that job first, pay off that debt,
and then maybe come back and talk to me about
a business. Right, So, we as a community are not
as privileged as perhaps our conterparts, from our Caucasian counterparts,
able to take those calculated risks that I'm talking about

(20:36):
that you need to do and to accept the failure.

Speaker 2 (20:39):
The fact is that eighty six percent of our small
businesses are going to fail within the first three years.
That's a given, and that is part of the process.
So we have to have some things on the table
and be willing to accept that failure as part of
the process. We're not quite there yet. We have loans
we got to pay back once we get out of college.

(21:00):
We have families we have to take care of, and
so those opportunities and those are real things that we
must consider. So I would say that, yes, entrepreneurship, but
we cannot all be on entrepreneurs and let's not romanticize entrepreneurship.
It's perhaps one of the hardest things that would ever do.
And you probably can speak to that.

Speaker 1 (21:21):
That's Rob Landford. It's not a forty hour way job. Everybody.
It's no guarantee your vacation. If you're sick, get up
and go to work, because sick days don't happen when
you running your own business. And guess what you can't
beat You can't let the customers beat you to your business,
that's the bottom line. So that means that you have
to be there, set up and ready to go. Whether
you running a business or provide product, you have to

(21:44):
understand that as a small business owner, it is the
most rewarding for the most fatiguing thing that you can do.
But when you do it right, ownership and that's what
we need, ownership. And I want to make that transition
statement to the Small Business Executive Program and the three
seeds of the Small Business Executive Program. I wanted to
ask you about doctor Bussy because of the fact that

(22:06):
you're throwing theres so much knowledge you know about the
program that's available at ball House, telling us what good
will doing not only providing free opportunities for job training,
but also providing paying you for some opportunities over there. Now,
we talked about pushing past stereotypes walking through that glass door.

(22:27):
We are always heard about the glass ceiling, but for minority.
It's just walking through that door. What is the three
seeds of the small business Executive program?

Speaker 2 (22:36):
Capital, connections, and contracts. I ensured capital dominates the conversation
right every time, access to capital, access to hack and
brown businesses don't have access to capital. I like to say,
equally as important, again, are those contracts. If you have
capital and you don't have revenue, and you can't sell

(22:59):
like you said to your customers, and you don't have customers,
your business probably will not succeed. In order to get
those contracts. You might be equally as qualified. What you
need is the connections. You need to be in the room.
You need to be in front of the folks that
have the decision power in making those contracts available. And

(23:19):
so we like to see our three seeds capital, connections
and contracts.

Speaker 1 (23:25):
Now, let me ask you this doct about will connections
carry the same value as relationships?

Speaker 2 (23:30):
It is exactly the same thing.

Speaker 1 (23:32):
Okay, cool?

Speaker 2 (23:33):
Well, relationships you might say. I might say I know
no Rashan, but does Rashan know me? So that's the difference. Right,
So that network has to be a two way thing.
You need to know about me and my capabilities, and
I need to know about you and what you offer.
Many times, what we hear from the large primes that

(23:53):
have all these contracts is that we think that a
one size fits all and we think that by saying
I do information technology and you need to do business
with me. Well, that's not the way it works. You
need to find out what the problem that that potential
customer has and be able to offer a solution. People
don't buy products and services for the heck of products

(24:16):
and services. They buy solutions. So when we start understanding,
and that's the way we teach and the way that
we do our technical assistance is really about falling in
love with that problem that you think you're solving. Because
if you approach a customer or a potential customer and see,
this is how I can help you and help you
solve your problem, more than likely you will get that business.

(24:39):
As opposed to you going and say this is what
I sell and this is the price, and you don't
make that value proposition very clear to that potential customer,
you probably won't get that new customer.

Speaker 1 (24:52):
Wow, I tell you. Her name is doctor Tiffany Bussy, Chief,
the director of the Morehouse Innovation and Entrepreneurship Center. I
don't know what you expected when you came on my
show or got invited to come on the show, Doctor Bussey,
but the information you've given me is it's going to
change people's lives. It's going to give them an opportunity
to see life a little bit different and also value information.

(25:15):
And that's what this show is about, giving information that
can change their lives. In closing, you want to wrap
up with any thoughts or any information that we may
have missed that you want to tell about what you're
doing over that more House.

Speaker 2 (25:27):
So, first of all, Rashan, what you're doing is invaluable.
I think, so really kudos to you and your show.
I think one of the most important things is sharing
of information. So many times I hear we have no idea,
we didn't know this was happening, and that is happening.
So there cannot be anything as too much information. So
please continue doing what you're doing, and I hope that

(25:49):
you will have me back in sharing this. But I
want to share also that folks that would love to
know more about our programs, and again being in mind
that we serve what we call mids scaled up companies,
right looking to go to the next level, really helping
to have these businesses grow perhaps three to five years
in business, looking to scale from about two million in

(26:12):
revenues to get them to five and twenty five million.
Our information can be found at the MCE Center that's
m C E C E N T e R dot com,
or off the Morehouse College website which is Morehousecollege dot edu.
I would also say that one of the things that
we have is part of our organizational structure is the

(26:35):
Small Business Development Center at Morehouse. That center provides services,
again to small businesses looking to scale and grow through
our partnership. We may be a touchpoint through our small
business executive programs, but we then hand off to that
Small Business Development Center and they stay with you through

(26:56):
the life of your company. So it is about building
community and really making sure that you sustain and grow
as your company really exists until you're ready to perhaps
exit or sell that company.

Speaker 1 (27:08):
Wow, you're fantastic. Let me just say that, honestly, you're fantastic.
And the fact that I've allowed to interview you on
my show Money Making Conversations Master Class, let me know
I've got this platform, this podcast hitting in the right
direction again. You will be coming back on my show because,
like I said, you shut it down with the good
Will shower because I didn't know Goodwill did that. So

(27:28):
I know you got a lot more information you're gonna
pick back up and tell me about in three months.
So every three months, let's come back on this show
and shock the world. You over the more House, Okay,
thank you, associate you you stay in touch with me
over here. Money Making Conversations Master Class again Doctor Tiffany
Bussey over the more House doing her thing. See you
next with y'all. Bye bye. This has been another edition

(27:51):
of Money Making Conversation Masterclass posted by me Rushaun McDonald.
Thank you to I guess on the show today and
thank you. I'll listen to the audience now. If you
want to listen to any episode I want to be
a guest on the show, visit Moneymakingconversations dot com. Our
social media handle is Moneymaking Conversation. Join us next week
and remember to always leave with your gifts. Keep winning

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Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.

24/7 News: The Latest

24/7 News: The Latest

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Stuff You Should Know

Stuff You Should Know

If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.

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