Patagonia

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Since outdoor apparel brand Patagonia started donating to environmental initiatives in 1985, it has contributed over $161 million to sustainable causes. Today the company donates 1% yearly of net revenues to mostly grassroots environmental nonprofits. Those are the kinds of numbers that allow backpackers and finance bros alike to wear their $200 vests with pride. But the company, based in Ventura, Calif., which generated an estimated $100 million profit last year, made a far bigger and more radical gift. In the apex of corporate good, Patagonia’s founder Yvon Chouinard donated a 98% stake in the company to a climate nonprofit called the Holdfast Collective in September 2022, ensuring that almost all the company’s future profits will fund environmental salvation. “Hopefully this will influence a new form of capitalism that doesn’t end up with a few rich people and a bunch of poor people,” Chouinard told the New York Times as he gave his company away.

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“We work for purpose and profit. It's not just about earning a salary at Patagonia; people believe that the work they are doing is improving our planet and we are lucky to spend our working hours striving towards a meaningful goal.”

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Get insights into Patagonia including business profile, stock information, news, and rankings from Fortune.

Patagonia Company Profile, Stock Price, News, Rankings

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Patagonia Company Profile, Stock Price, News, Rankings | Fortune

David Gelles

How Patagonia founder Yvon Chouinard decided to give away his billions

/2025/09/09/patagonia-founder-yvon-chouinard-dirtbag-billionaire-book-excerpt-david-gelles/

Ryan Gellert

Patagonia CEO: The EPA is ‘endangering’ America’s businesses on climate

/2025/08/05/patagonia-ceo-ryan-gellert-epa-lee-zeldin-climate-change/

Jane Hoffman

‘Corporate social responsibility’ is a flawed concept. What we really need is ‘corporate accountability’

/2025/03/10/corporate-social-responsibility-accountability/

Alexandra Kirkman

A Walmart executive VP says seeing the world helped her create a communicative and empowering workplace

/2025/03/04/andrea-walmart-executive-vice-president-trave-interview/

Patagonia CEO: The ‘energy emergency’ is disingenuous—and we’re wasting time not addressing the real threat

/2025/01/24/energy-emergency-climate-crisis-renewables-environment/

https://fortune.com/2025/09/09/patagonia-founder-yvon-chouinard-dirtbag-billionaire-book-excerpt-david-gelles/?itm_source=parsely-api

https://fortune.com/2025/03/10/corporate-social-responsibility-accountability/?itm_source=parsely-api

Seamus Webster

Patagonia became famous for letting staff cut out early to chase waves—now it's asking dozens of employees to relocate or leave because it’s 300% overstaffed

https://fortune.com/2024/06/28/patagonia-yvon-chouinard-tells-employees-relocate-or-leave-overstaffed-corley-kenna/?itm_source=parsely-api

https://fortune.com/2025/08/05/patagonia-ceo-ryan-gellert-epa-lee-zeldin-climate-change/?itm_source=parsely-api

Changing FEC commissioners requires Senate approval. But on February 6th, President Trump unceremoniously fired Commissioner Ellen Weintraub via email. Several members of Congress called for her reinstatement. This was an early indicator of unilateral – and, as Weintraub argues, potentially illegal – moves to come. Has the government adopted Silicon Valley’s flippant firing playbook? Is this the new normal, or, as former Patagonia CHRO Dean Carter argues, just bad for business? We’ll unpack recent employee separation trends and ask a bigger question: What are leadership’s responsibilities during these turbulent times?  

POLITICS, POWER & PINK SLIPS: LEADING THROUGH UNCERTAIN TIMES

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we've talked a lot about where we work, how we work, collaboration, culture, hiring, and reskilling, and now it's time to talk about firing. Abrupt informal terminations are becoming increasingly common across private business and now in government too, and they're sometimes delivered with little notice or explanation. The trend raises important questions about leadership, organizational values, and the responsibility that employers have during times of uncertainty. Joining us now are two leaders with expertise and direct experience in this area. Dean Carter is the chief experience officer at Modern Exec Solutions and believes in a people first culture. Ellen Weintraub, the former chair of the US Federal Election Commission who was dismissed from her post earlier this year. Please welcome them to the stage with Fortune senior features editor and summit co-chair Indrani Sen. Hi. Welcome. Uh, we're very lucky to have with us here today two guests who have a lot to say about courage and leadership amid these tumultuous times. Ellen Weintraub, who as commissioner and chair of the Federal Election Commission, has stood up for fair elections and regulation of money in politics for many years. She was dismissed by email in February from her vital role. And Dean Carter has been a powerful voice for moral values in business over his 20 years in people and culture, including 4 CHR roles in a decade at Patagonia, where really he set the standard. We'll be opening this up to questions. I'm sure you have so many questions for Dean and Ellen, so think about that. Put your hand up at any point and, and Mike will come over to you. Um, I'd love to start with you, Ellen. Your dismissal from the FEC was abrupt in public, and it came amid a career of striking success. I sort of want to anchor us in that experience. I know you were not terribly surprised by what happened, given your history of standing up for what you believe is right. But can you talk a little bit about the personal impact of your firing and which is an experience that so many people have gone through in the federal government and beyond? Thank you, and it's really such a pleasure to be here talking to you all. I was kind of expecting it, but I didn't expect it when it happened or how it happened. The normal thing would have been to replace me with another nominee, and instead I was just summarily fired. I was cut off from my email. I was cut off from all my databases. My ID card was decommissioned, so I couldn't get into the building or into my offices anymore without an escort. Uh, my staff had to scramble to find other jobs. One of them is still looking. If you know anybody, she's really great. Um, uh, it was, um, even though I was expecting it, it was still sort of disconcerting, and I find that still a lot of people can't figure out how to find me because they cut off my email without even giving me a chance to put in one of those. If you want to reach this person, email her at this address. So I'm on LinkedIn if anybody's looking for me. Dean, how do you see this, the erosion of legal and ethical norms in government affecting the private sector and leadership in corporate culture? I know you have a real air in on that and, and how can HR leaders like the people in this room make sure that compassion and fairness is still at the heart of their company's operations. Um, what I hope is that corporate America doesn't reflect what's happening currently in the, in the more public environment. I am, and I hope we have a stand up, um, and have a lot more courageous leadership. I think this is a really challenging time. I, uh, listened to and talked to a lot of CEOs in this moment and it's really difficult to navigate the, the, the question around is this the time to stand? Is it time to bend, is it time to hide? And I, and I think this is on their minds like is this a time to duck. Um, or stand up and what I hope is that we get to a place and realize this isn't the way that we would run our companies and certainly not the the model in terms of how you let someone go. Um, people have long memories and uh I just I think in this moment, um, it is. It's easy to be courageous in time when times are easy. It's hard to be courageous when times are hard and and I the thing to remember in this moment, it's not just you going through this, your employees are going through an incredible amount of uncertainty. What does this mean? What does the company stand for? What does my leader stand for? Where are you in this moment? And they really are looking for a lot of things. I'll talk about that in just a minute, like what are some actions you can take in this moment? To make them feel safe. And I guarantee you, when I go into a room and ask people, how many of you feel like this is the most chaotic moment in your life. I may ask you this, how many of you feel like this is a really incredible chaotic moment in time? How many of you feel like your teams are spending a lot of time trying to work through the chaos? There you go. So and you and you multiply that times 10 because you, you have power and your employees don't and have agency and they're just really struggling in this moment. So we'll talk about some real actions you can take on this. What, what gets in the way? I'd love, I'd love for you both to weigh on this, but what, what, what are the things that prevent leaders from being courageous in the moment? What are the factors? I think that there is a systematic effort underway to silence opposition voices and to intimidate people. I was fired in a way that was designed to intimidate other people at my agency and other people at other agencies, and I think the only response to that is to stand together. We all need to stand together. Your organizations have power. And no administration can go up against the entire Fortune 500. If your leaders speak out together, if they combine together, maybe it is counterintuitive for people who normally feel like they're in competition with each other, but this is a moment for combined action, and that is where we will find our strength and our power because it is so important for people to stand up and speak out. Winston Churchill said. You can't appease a crocodile. It just means you're going to be eaten last. So you don't want to be eaten first, last, or ever, and the way to fight that is to band together and find our voices. I think this time it's really important just to go back to what do we what do we stand for, what are our values and what are our principles. So this isn't about politics or red or blue or purple or whatever, but it is really about, you know, what the principles that you stand for and your employees are looking for like in this moment. You know what do you stand for and I think there's definitely a level of fear. Um, I got a call right after the whole DEI thing went down and some of the executive orders started to come in from um Lazelbach, and he said, Dean, I know you and a few other folks have some level of insolence and level of safety because. Longer in the head of HR role. By the way, Patagonia didn't didn't care about safety at all. We sued the president 16 times during the time, the last time, and you probably saw a lot of stuff. We were very, very public. There was an image on the cover of Time magazine of Yvonnehonard, the founder, and Trump, staring at each other, so we were Um, talk about courageous leadership. I mean, that's a great example, but he said, you know, I'm gonna try to see if we can get a bunch of heads of HR to sign this. This is Laszlobo, and so Dean, would you sign this? I was like, of course. And he called me back two days later and he said I could only get 4 former heads of HR to sign this. Do you think that's gonna change in time? I hope that it changes. I know that this is the time to stand together. And not, not to duck and uh and stand for principles. These are all, these aren't just like let's let's move beyond like moral and the right thing. These are business issues. This is just good freaking business. DEI, we've always said diversity, equity, inclusion are good for business. Treating people right on the day that they join the day they exit is good business. These concepts are just good business and if you're running a good business. These are the things you do and things you know and this is what you do as a leader that doesn't change. Not to mention supporting rule of law. I mean, there's a reason why these great companies were formed in this country and have profited in this country. It's because we do have rule of law, because we do have freedom of speech. It's because we do have protections for people that allow you to recruit from all over the world and recruit the best talent and that they will want to come. Here and not worry that if they say the wrong thing their visa is going to get pulled or or they're going to be ousted for some reason because they just expressed their own point of view. If you want to recruit great talent, if you want this to be the United States of America and not hungry, then you have to stand up for those principles, which is how business grows. Yeah, I think. Absolutely, um, the thinking about the challenges ahead, not, you know, again, putting aside politics but just some of the business challenges ahead, the tendency of leaders is to want to express optimism and to be upbeat. How, how do you advise, uh, HR leaders who are often kind of like I think courage whisperers, right? They're often the people who can. Who can help their CEOs um find that courage in themselves. How do you how do HR leaders help the CEOs find their courage and avoid that kind of delusional optimism that can sometimes be a bit of a, a kind of instinct for leaders? The, the only job more lonely than the head of HR is the CEO and uh the only person they don't have a lot of people they can talk to. And so it's typically the head of HR is the person that you can do some whispering in terms of help them be courageous and what what employees want, I believe. is to acknowledge their fear, acknowledge their concern, acknowledge where the moment is, and then move on to like here's some things that we still stand for and this is what we're going to do. I think that's really an important thing is just to to do that is to anchor in principles, acknowledge the fear and concern, and talk about the pragmatic things that we're doing around this company and what we still stand for. That's really what they're looking for and uh and they want. More than ever, transparent, authentic, courageous leadership. That's great. Any questions? Just put it out there? Um What do you see, uh, as the, um, well, actually, sorry, I'm gonna go to a different question. Dean, you've defined courageous leadership as speaking up for your values even when it's hard. I wonder if you could give some examples of what that might look like in action, like this week, next week, this month. Um, and what I mean by that is there was a moment when I was at Patagonia, I did an op ed and I presented to the CEO Rose Mercurio, and she said, Is it provocative enough? And I'm like, what do you mean by that? She goes, did you hit hard? Were you true to what you believe? I was like, and it was about, you know, supporting women at work. I'm like, no, let me rewrite it. So it came back in 20% of the people like that was it, you know, Dean, I got slammed on it and 80% had some reasonably positive. I came back and said, yeah, 20% really didn't like what I said. She goes, you crushed it, perfect. And so we're a courageous leader in standing for something, know that, and when you whisper to the CEO, you're not going to please everyone. When you stand for something, you're you're gonna upset this group and you're gonna upset and be really honest about that. And so that's an action you can help your CEO be courageous in this moment, go here's what's on their hearts and minds. Here's what they need for you at the moment. Here's what you can do. I'll stand beside you. I've got your back on this, and that's, I think what they're looking for is just a little bit of nudge. They're humans too, you know, they're dealing with this and dealing with their families and likely if someone else is impacting their families things. So anyhow, this is your moment, you know, to give them a little nudge and like I got your back. Let's go through this together. Everyone could use that, I think we have a question over here. Yeah, um, Ellen indeed, thanks for both for sharing uh Kyle with Deloitte. I, I think, uh, my, my question a little bit is there's a lot of different stakeholders, uh, public private companies will say, uh, I don't want the bottom line impacted or I don't want our stock price going down or CEO stands up and then the stock price gets hit and the board says that CEO's out, new CEO in or you know whatever it may be. And I know that's gonna be oversimplifying it, but, but how do you think about there's this shift from um companies taking really big stances five years ago to now, hey, here's topics we're actually not going to very publicly take a stance on in the external world uh because we're concerned about retaliation, whether, uh, so, so there there there's a lot of nuance and certainly I I'd love a little bit of your perspective of where maybe you've seen that evolution. And some companies absolutely they they can do it and they can and they will and and you know etc. but others are maybe like do I do it a little bit quieter or do you know so just acknowledging some of the new ones. Well, as I said, I think that working together gives you more power, but I also think that there are a lot of people out there who are looking for leadership, looking for leadership in corporate America, looking for leadership in government, obviously, but looking for leadership in academia. A lot of people are feel like they are under attack and I think. People will look back on this moment. Your, your clients, your customers are looking for brave stances. Courage is contagious, and I think we're seeing that in the university setting that, you know, the first university that felt under attack started to cave, and then other universities started to band together, and they have strength in numbers and um. But there are so many people out there who are looking for demonstrations of courage, and I think that will be rewarded. I think we have to look past the initial moment to um where where we're going, where we're gonna be in 2 years, 5 years, 10 years, and how all of this is gonna look then. Love that. Great note to end on. Courage is contagious. Don't be the last person eaten by the crocodile. Thank you so much for your insights, Ellen and Jean. I

We often talk about the climate emergency. We kind of just talked about it being an emergency. And that's really important, but I'm hoping that this conversation kind of move us towards some more solutions. So I'm wondering We have with us. Three of our panelists are working with companies that are really at the forefront of offering different types of technology to address The climate emergency and I'm wondering if they if you guys can just give us a little pitch about what your company offers. DeVito Do you want to start? Sure. So Aquaman is I'm co founder and CEO of Aquaman. We're meeting The urgent global need to for hyper local air pollution and climate emissions data. Today, 92 % of the world's population is breathing unhealthy air. And we need data to really understand the sites of emission, the sites of exposure, to then drive action at the local, city, and community scale. Great. Good night, everyone. Our businesses are quite complimentary. I'm Lauren Penneys. I lead business development and sales for decart Labs. Our company's been out of the US Department of Energy Los Alamos National Lab. That's the nuclear and scientific lab out of New Mexico and the thesis of the business Is that the number of satellites that are going to be launched in the next five years is more than all of history. So the ability to actually bring to bear data sets that monitor the global physical world is really very much coming online. So we work with the largest businesses, most of them very large physical supply chains and energy companies like [ UNKNOWN ]. And we help them understand and monitor their climate resiliency and how to take action from there. Hi, everybody. I'm Sinye Tang, the VP of finance and strategy at Dandelion Energy. We're home geothermal company and our mission is to bring Earth powered heating and cooling to all Geothermal heat pumps have been around since the 1940s as a viable solution for efficiently making sure that folks have heating and cooling in their home. But there hasn't been a standardized accessible offering to consumers and the average homeowner up until hopefully today. Our CEO Cathy thought of really exploring this idea when she was a product manager at Google X. We spun out in 2017, and today in 2019, we're the largest installer of geothermal heat pumps in New York State, having installed more than 250 heat pumps and helping our customers reduce their heating oil consumption by more than 100, 000 gallons a year. Wonderful, so some really impressive sort of technology and solutions on stage here. How your conversation with your corporate partners has changed just in the last several months even. [ UNKNOWN ] Did you want to take that? Sure, and definitely, there has been a shift, I think we've hit a tipping point not only in terms of the public awareness and public demand for action but what I would almost stir some of the courage amongst a growing number of corporate Players, companies like Patagonia have been at the forefront of the movement for years. But we're seeing a new class of company, not just sort of going beyond just sort of the easy wins, like replacing, you know, light bulbs, and going into energy efficiency to actually taking much more broad sweeping action. In our you know, in our own partnerships. We have a multi year partnership with Google and And last year, they committed to scaling our technology across the globe by integrating our technology on Google Street View cars, and in 2020 will be driving and mapping air pollution around the planet. So really taking deep bold action and it's time. Right. Lauren, what about you? Yeah. I mean, I would say, the number one thing I think that comes up that we're exposed to is actually climate change and climate resiliency. It's a financial issue for many businesses now. So I'll give an example last year the Rhine which is the major transportation river and Europe Soybean and understanding those supply chains. It's actually a financial and reputational risk. So I think what we see a lot is I think the conversation is being a bit forced within these businesses themselves for many, many reasons and so the financial Incorporation reputational, and it really becomes front and center. Right? Continue. How is your compensation? Change me with corporations or even your, the consumer that you're reaching? Yeah, I think what's been really inspiring is that we're seeing this great partnership, at least in the geothermal space. Between state governments and city governments, homeowners, utilities and other companies that really want to figure out a solution that will work, both to help us homeowners sort of save money and also help ensure that their home equity increases and that they have an independent solution for keeping warm in the winter. That doesn't rely on someone you know driving a truck out with a bunch of heating oil to fill up their tank and having them light that on fire in order to keep warm, which is an innately absurd idea. And it's it's really promising because a lot of these state governor, government related officials are really excited to figure out how to partner With utilities and with others to figure out the right solution, so we're actually seeing a lot of partnership and problem solving across a wide group of stakeholders around this particular issue. And Hillary, I want to turn to you now you're at Patagonia and for decades Eliminating accessibility to public land. And then there was the you have a pledge to make the supply chain carbon neutral by 2025, which is soon. Yeah. Much sooner timelines and other similar initiatives. And then you have this whole initiative about buying less And that one in particular really sticks out to me because it kind of gets to the mean, you are a company that sells stuff, right? And you are saying buy less stuff. So can you just talk us through how you think about sort of that purpose of Patagonia and then what it has meant for your bottom line? Yeah. I mean, I love that my colleagues are all making solutions to the climate crisis and we're part of the problem. So which we struggle with. It's kind of a constant battle and we're making stuff, we're making stuff that takes a toll on the planet. We're making stuff we admit lots of CO2 and so. From the company's inception, Patagonia was committed to doing everything we could to counter the impact our business had on the planet itself. So, our mission statement is we're in business to save our home planet and that seems to be totally at odds with a company that's growing and that's doing Well the more we make the more our impact on the planet grows. But one other thing we have done in addition to setting goals for being carbon free by 2025 is we have also established a goal that we gonna replace all of our virgin polyester materials. With recycled materials and natural materials by 2025, and it's hard work because we find we're making a ton of progress on that. And then even as we do, our sales are growing and our overall footprint is increasing over time. So and we're going to keep working hard to minimize our impact as much as possible every day and as we do that, We see, you know, grata spurred what was, you know, has been this incredible movement, climate activists all over the world demanding action from not only their governments but businesses and every time in the course of Patagonia's history, we've made a decision that put the planet first. It's also been good for sale. So we Hope that's an example for other companies to do the same and just to incorporate how every business decision that we make has an impact on the planet and the people in it. And it's not easy, right? Yeah, definitely. Yeah. And I think it was last week that Patagonia opened its first second hand pop up. Yeah, store. Yeah, it was interesting. Well, yeah, that's a huge part of our strategy, which is to keep the stuff that we make in in cycle as long as possible. So we have a one year program is that's the name of the program that we started where you can turn in your use Patagonia gear and get a credit and then By new values product from our site, so we're gonna hope that that will have a huge impact as well. I like that you acknowledge this is such a hard thing for for companies to sort of bake into their operations and I'm wondering if If all of you could sort of weigh in on if you're a younger company, or you just really haven't made this type of commitment yet, what's like one of the first things you should be thinking about? As you look for you know, what, what goal can I set for myself? Should it be, should it be a sort of a global emissions are carbon, carbon neutral stance or should it be something more local? I mean, a lot of you. With utilities and with others to figure out the right solution, so we're actually seeing a lot of partnership and problem solving across a wide group of stakeholders around this particular issue. And Hillary, I want to turn to you now you're at Patagonia and for decades Perspective but more broadly as it relates to supply chain and the communities you touch. And that's a really hard thing to do if you're starting from day one, but I think understanding where you are, what your baseline is, is a really critical first step, to then determining where you can really have the biggest ROI both in terms of Saving company resources but also in terms of really driving emissions and impact reductions. Learn. Do you have any thoughts on that? Yeah, I'd very much echo what diabeetus said. I think there are a couple of pretty helpful frameworks and tools in terms of metrics that have been set by broader communities. The task force on climate related financial disclosures, there are ways to think about kind of, best in class ways to quantify these things in the supply chain from kind of day one. That it encourage businesses to think about pricing those things into, you know, ROI calculations from the beginning And then I think the encouraging part in a strange way is that, as these things become more real, insurance companies, agriculture businesses, natural resources businesses, they have to look at this stuff. It's going to force the issue into being more sustainable, there is a strange kind of positive side of all of this, I think when it comes to corporate activities. Right. So I think about that as well. Do you wanna go to questions? Do we have any right now? Springing it on you a little bit. Yeah, right here. [ BLANK_AUDIO ] Hi ladies, thank you for being here. I'm Dominique. I work at eBay. We love Patagonia, circular economy. So come on over and continue to sell stuff with us. But Part of the problem of climate change is the various dimensions and it is complicated for the average person to understand the very basics of what they can do while we wait on corporations to decide to care. Where can the average person go to really learn about what they are doing and the solutions that they can provide? Where can we self- educate? Do we have good resources? Yeah, I mean there are bunch of great non- profits. There's one called Rare that actually has like seven things that you can do even as an individual that would greatly impact your climate, your footprint. Like even take one less flight a year. I mean it's very straight forward stuff but I found that I kind of am always thinking it's always on the top of my mind when you kind of when you look at something like that. Patagonia has a website called Patagonia action works that features all of our grantees all around the world. So wherever you live, you could go and you could look up an environmental, nonprofit working in your community and Volunteer or donate, in fact we're matching donations right now through the end of the year. So if you go on and you make a donation [ UNKNOWN ] will match it. So there are some kind of ways to get involved in kind of effecting change on the ground through non- profits in your community and then just some good resources through [ UNKNOWN ] or as a business series is a great resource too. I don't know if you guys Work at always series and bicep but it's a collective group of companies that have committed to fighting the climate emergency and lots of good policy and advocacy related resources there too. And just to add to that, since we you know, we work with a lot of government agencies and big companies to do block by block measurement of air quality and emissions. And we're on the other side of seeing the power of local engagement and individual engagement and local policy and engaging companies. There's all the individual actions that we can take in terms of our behaviors, but actually direct engagement and asking governments and demanding action We see it it has tremendous impact in mobilizing governments and companies to act. I'll also offer that if you're living in the northeast, or your residential home spends most of its energy and most important missions relate to heating and cooling in some way, shape or form. It is interesting that as we see companies, make these individual commitments it does to some degree feel like it's happening in isolation. There was a really great wall street journal story yesterday about how it even took a year for this one group to decide what recycled meant, like that word. And I'm wondering what Business leaders can do about coming together on the issue and not just, focusing on your own corporate goals, but on the collective effort that we all need. We need to make sure I mean, one area where we've been really impressed. It just happened last week where, companies are directly engaging in asking government to act because there's things that companies can do, but As companies, we need government to set policy that defines a level playing field where we can all engage and engage in building businesses and so last week part of the COP, a coalition of United States Corporate form that requires examining your impact on the planet. You're the workers, the community, and not just maximizing your financial return. So there's a great assessment that looks at your impact on the environment. And, it's a, I think a great coalition of businesses to really working to. Fight for our planet. Right great. We'll have to leave it there but we have some extrable steps to walk away with and thank you all for being here and to sharing your experties with us on this, thank you. [ APPLAUSE ] [ BLANK_AUDIO ]

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