• +598 29008192
  • info@servinfo.com.uy

Archivo del Autor: Belen De Leon

Titan launches its mobile ‘not a hedge fund’

What Robinhood did to democratize buying individual stocks, Titan wants to do for investing in a managed portfolio. Instead of being restricted to rich accredited investors willing to pour $5,000 or even $500,000 into a traditional hedge fund that charges 2 percent fees and 20 percent of profits, Titan lets anyone invest as little as $1,000 for just a 1 percent fee on assets while keeping all the profits. Titan picks the top 20 stocks based on data mined from the most prestigious hedge funds, then invests your money directly in those with personalized shorts based on your risk profile.

Titan has more $10 million under management after quietly spinning up five months ago, and this week the startup graduates from Y Combinator. Now Titan is ready to give upscale millennials a more sophisticated way to play the markets.

This startup is hot. It refused to disclose its funding, likely in hopes of not tipping off competitors and incumbents to the opportunity it’s chasing. But it’s the buzz of YC, with several partners already investing their own money through Titan. When you consider Stanford-educated free stock-trading app Robinhood’s stunning $5.6 billion valuation thanks to its disruption of E*Trade, it’s easy to imagine why investors are eager to back Titan’s attack on other financial vehicles.

“We’re all 28 to 30 years old,” says co-founder Clayton Gardner about his team. “We want to actively invest and participate in the market but most of us who don’t have experience have no idea what we’re doing.” Most younger investors end up turning to family, friends or Reddit for unreliable advice. But Titan lets them instantly buy the most reputable stocks without having to stay glued to market tickers, while using an app to cut out the costs of pricey brokers and Wall Street offices.

Titan co-founders (from left): Max Bernardy, Joe Percoco, Clayton Gardner

“We all came from the world of having worked at hedge funds and private equity firms like Goldman Sachs. We spent five years doing that and ultimately were very frustrated that the experiences and products we were building for wealthy people were completely inaccessible to people who weren’t rich or didn’t have a fancy suit,” Gardner recalls. “Instead of charging high fees, we can use software to bring the products directly to consumers.”

How Titan works

Titan wants to build BlackRock for a new generation, but its origin is much more traditional. Gardner and his co-founder Joe Percoco met on their first day of business school at UPenn’s Wharton (of course). Meanwhile, Titan’s third co-founder, Max Bernardy, was studying computer science at Stanford before earning a patent in hedge fund software and doing engineering at a few startups. The unfortunate fact is the world of finance is dominated by alumni from these schools. Titan will enjoy the classic privilege of industry connections as it tries to carve out a client base for a fresh product.

“We were frustrated that millennials only have two options for investing: buying and selling stocks themselves or investing in a market-weighted index,” says Gardner. “We’re building the third.”

Titan’s first product isn’t technically a hedge fund, but it’s built like one. It piggybacks off the big hedgies that have to report their holdings. Titan uses its software to determine which are the top 20 stocks across these funds based on turnover, concentration and more. All users download the Titan iOS or Android app, fund their account and are automatically invested into fractional shares of the same 20 stocks.

Titan earns a 1 percent annual fee on what you invest. There is a minimum $1,000 investment, so some younger adults may be below the bar. “We’re targeting a more premium millennial for start. A lot of our early users are in the tech field and are already investing,” says Gardner.

For downside protection, Titan collects information about its users to assess their risk tolerance and hedge their investment by shorting the market index 0 to 20 percent so they’ll earn some if everything crashes. Rather than Titan controlling the assets itself, an industry favorite custodian called Apex keeps them secure. The app uses 256-bit encryption and SSL for data transfers, and funds are insured up to $500,000.

How have its bets and traction been doing? “We’ve been pleasantly surprised so far,” Gardner beams, noting Titan’s thousands of clients. It claims it’s up 10 percent year-to-date and up 33 percent in one year compared to the S&P 500’s 2 percent year-to-date and 22 percent in one year. Since users can pull out their funds in three to four business days, Titan is incentivized to properly manage the portfolio or clients will bail.

But beyond the demographic and business model, it’s the educational elements that set Titan apart. Users don’t have to hunt online for investment research. Titan compiles it into deep dives into top stocks like Amazon or Comcast, laying out investment theses for why you should want your money in “the everything store” or “a toll road for the Internet.” Through in-app videos, push notifications and reports, Titan tries to make its users smarter, not just richer.

With time and funding, “Eventually we hope to launch other financial products, including crypto, bonds, international equities, etc.,” Percoco tells me. That could put Titan on a collision course with Wealthfront, Coinbase and the recently crypto-equipped Robinhood, as well as direct competitors like asset managers BlackRock and JP Morgan.

“If we fast-forward 10 to 20 years in the future, millennials will have inherited $10 trillion, and at this rate they’re not equipped to handle that money,” says Gardner. “Financial management isn’t something taught in school.”

Worryingly, when I ask what they see as the top threats to Titan, the co-founders exhibited some Ivy League hubris, with Gardner telling me, “Nothing that jumps out…” Back in reality, building software that reliably prints money is no easy feat. A security failure or big drop could crater the app’s brand. And if its education materials are too frothy, they could instill blind confidence in younger investors without the cash to sustain sizable losses. Competitors like Robinhood could try to swoop in an offer managed portfolios.

Hopefully if finance democratization tools like Titan and Robinhood succeed in helping the next generations gather wealth, a new crop of families will be able to afford the pricey tuitions that reared these startups’ teams. While automation might subsume labor’s wages and roll that capital up to corporate oligarchs, software like Titan could boost financial inclusion. To the already savvy, 1 percent might seem like a steep fee, but it buys the convenience to make the stock market more accessible.


Source: TechCrunch

Keeping artificial intelligence accountable to humans

As a teenager in Nigeria, I tried to build an artificial intelligence system. I was inspired by the same dream that motivated the pioneers in the field: That we could create an intelligence of pure logic and objectivity that would free humanity from human error and human foibles.

I was working with weak computer systems and intermittent electricity, and needless to say my AI project failed. Eighteen years later — as an engineer researching artificial intelligence, privacy and machine-learning algorithms — I’m seeing that so far, the premise that AI can free us from subjectivity or bias is also disappointing. We are creating intelligence in our own image. And that’s not a compliment.

Researchers have known for awhile that purportedly neutral algorithms can mirror or even accentuate racial, gender and other biases lurking in the data they are fed. Internet searches on names that are more often identified as belonging to black people were found to prompt search engines to generate ads for bail bondsmen. Algorithms used for job-searching were more likely to suggest higher-paying jobs to male searchers than female. Algorithms used in criminal justice also displayed bias.

Five years later, expunging algorithmic bias is turning out to be a tough problem. It takes careful work to comb through millions of sub-decisions to figure out why the algorithm reached the conclusion it did. And even when that is possible, it is not always clear which sub-decisions are the culprits.

Yet applications of these powerful technologies are advancing faster than the flaws can be addressed.

Recent research underscores this machine bias, showing that commercial facial-recognition systems excel at identifying light-skinned males, with an error rate of less than 1 percent. But if you’re a dark-skinned female, the chance you’ll be misidentified rises to almost 35 percent.

AI systems are often only as intelligent — and as fair — as the data used to train them. They use the patterns in the data they have been fed and apply them consistently to make future decisions. Consider an AI tasked with sorting the best nurses for a hospital to hire. If the AI has been fed historical data — profiles of excellent nurses who have mostly been female — it will tend to judge female candidates to be better fits. Algorithms need to be carefully designed to account for historical biases.

Occasionally, AI systems get food poisoning. The most famous case was Watson, the AI that first defeated humans in 2011 on the television game show Jeopardy. Watson’s masters at IBM needed to teach it language, including American slang, so they fed it the contents of the online Urban Dictionary. But after ingesting that colorful linguistic meal, Watson developed a swearing habit. It began to punctuate its responses with four-letter words.

We have to be careful what we feed our algorithms. Belatedly, companies now understand that they can’t train facial-recognition technology by mainly using photos of white men. But better training data alone won’t solve the underlying problem of making algorithms achieve fairness.

Algorithms can already tell you what you might want to read, who you might want to date and where you might find work. When they are able to advise on who gets hired, who receives a loan or the length of a prison sentence, AI will have to be made more transparent — and more accountable and respectful of society’s values and norms.

Accountability begins with human oversight when AI is making sensitive decisions. In an unusual move, Microsoft president Brad Smith recently called for the U.S. government to consider requiring human oversight of facial-recognition technologies.

The next step is to disclose when humans are subject to decisions made by AI. Top-down government regulation may not be a feasible or desirable fix for algorithmic bias. But processes can be created that would allow people to appeal machine-made decisions — by appealing to humans. The EU’s new General Data Protection Regulation establishes the right for individuals to know and challenge automated decisions.

Today people who have been misidentified — whether in an airport or an employment data base — have no recourse. They might have been knowingly photographed for a driver’s license, or covertly filmed by a surveillance camera (which has a higher error rate). They cannot know where their image is stored, whether it has been sold or who can access it. They have no way of knowing whether they have been harmed by erroneous data or unfair decisions.

Minorities are already disadvantaged by such immature technologies, and the burden they bear for the improved security of society at large is both inequitable and uncompensated. Engineers alone will not be able to address this. An AI system is like a very smart child just beginning to understand the complexities of discrimination.

To realize the dream I had as a teenager, of an AI that can free humans from bias instead of reinforcing bias, will require a range of experts and regulators to think more deeply not only about what AI can do, but what it should do — and then teach it how. 


Source: TechCrunch

HTC breaks down VR barriers by bringing Oculus Rift titles to Viveport

HTC’s Viveport store and subscription service will be opened to Oculus Rift users in September this year, letting them buy titles directly and take advantage of the monthly game-delivery service.

The post HTC breaks down VR barriers by bringing Oculus Rift titles to Viveport appeared first on Digital Trends.


Source: Digital trends

Dark Sky’s top ranking weather app gets a big makeover

Dark Sky, one of the more popular mobile weather applications on the market, is out today with a complete refresh of its app, which has now been re-written from the ground up, the company says. The biggest change is the introduction of a new unified timeline that combines both the precipitation predictions Dark Sky is best known for, and its weather forecast all on one page. This makes it easier to view all the critical weather information in a single view, without having to tab around to different pages.

The app’s design has been updated, as well.

Before, a simple bar graph would show you the rainfall predictions for the day ahead, with the rainfall percentage to the right of the hour blocks. With the new release, that graph has been replaced with an animated chart that instead has the rainfall percentage displayed within a circle that fans out to the right of the bar, with the higher percentages out further to the right than the lower ones. This allows you to better visualize the ebb and flow of the rainfall over the hours ahead.

Combined with the map above the chart, you can get more of a sense of the day’s rainfall patterns – like if there were breaks in a storm that’s passing over, for example, or if you’re in for all-day rain.

The only qualm we have about the changes here is that the day’s high and low temps are now given less prominence – they’re in small italics above the animated chart, making them easier to miss.

The same animated chart for rainfall can be changed to display the day’s temperature, the “feels like” temperature, and the wind (mph) in the same way by tapping on those options at the bottom.

Plus, you can see these charts for any day of the week ahead, by scrolling down to the daily forecasts and tapping on the day you want to view.

There’s also a clever, if not always practical, “Time Machine” feature here at the bottom which can show you the weather going back decades. You just put in the date you want to see and press “jump.” This may be more fun for true weather nerds, than for day-to-day use, but it’s worth noting.

Another big fix, and one that was prompted by user feedback, was Dark Sky’s lack of support for saved locations. That’s now been addressed with this new release, where you can manage locations from the Search screen.

Another nod to weather nerds is available from Search, too – it will show you “interesting storms” from around the country in case “your weather happens to be too bland,” the company says, in its announcement. However, this could be useful if you’re checking in on friends or family in the path of a major storm or hurricane.

While no weather app is perfect, Dark Sky allows users to report the weather at their location which helps improve the app’s hyperlocal forecasts. That means the app may seem to be more accurate in places where there’s more consumer adoption. If you live somewhere rainy, then there’s a good chance a number of Dark Sky users are nearby because of the app’s key focus on precipitation forecasts.

The updated app offers an improved set of notifications, allowing you to toggle on or off things like Next Hour Precipitation, Daily Summary, Severe Weather Alerts, Umbrella Reminder, Sunscreen Reminder or your own custom notifications, based on other conditions that matter to you – like UV index forecasts, for instance.

The Iconfactory designed new weather icons for the updated app, which has also been entirely rewritten to load more quickly, be more responsive and stable.

The company didn’t have to improve Dark Sky – the app was pretty good as it was, and was almost always the No. 1 paid Weather app on the App Store, as well as ranked in the Top 50 Overall. Today,  however, it’s ranked No. 1 in Weather, and has shot up to No. 4 in the Top Paid charts, as result of the update.

Current users will be able to download the update for no charge. The app is a free download on Android (with in-app purchases), and a $3.99 paid app on iOS. The company also makes money through licensing its API, which is used by organizations like Yelp, Citymapper, Microsoft, Runkeeper, DuckDuckGo, and others. As the API is updated with more functionality, those will come to the app in the form of new features, we’re told.

 


Source: TechCrunch

DraftKings CEO Jason Robins is coming to Disrupt SF

In May, the Supreme Court struck down a federal law that had banned gambling on sporting events in most states. That ruling is set to unlock billions of dollars in new business opportunities for online fantasy sports sites like DraftKings.

That’s why we’re absolutely thrilled to have DraftKings CEO Jason Robins join us on stage at Disrupt SF.

DraftKings launched back in 2012 and quickly grew into a household name by offering daily and weekly fantasy sports contests across a number of sports.

In fact, as of 2017, DraftKings had roughly 8 million users, and together with its top competitor FanDuel, the two companies owned more than 90 percent of the $2.6 billion daily fantasy sports market.

In 2016, DraftKings and FanDuel announced their intention to merge, but were met with resistance from the FTC who sued to block the merger. If it had been approved, the merger would have allowed both companies to combine resources with regards to regulatory approval and advertising spend.

At the time, Robins said that DraftKings has a “growing customer base of nearly 8 million, our revenue is growing over 30% year-over-year, and we are only just beginning to take our product overseas to the billions of international sports fans we have yet to even reach.”

At Disrupt, we’ll chat with Robins about the growth of the company, DraftKing’s plans for the 2018 NFL season, and what’s in store for the company following the Supreme Court ruling.

The full agenda is here. Passes for the show are available here.


Source: TechCrunch

Amazon's Kindle Voyage may be over – CNET

It looks like one of our favorite e-readers has come to its journey’s end.
Source: CNET

PepsiCo to buy SodaStream for $3.2 billion – CNET

The deal is designed to advance PepsiCo’s goal of “making more nutritious products while limiting our environmental footprint.”
Source: CNET

Pepsi is buying SodaStream

Pepsi this morning announced its intentions to buy Tel Aviv-based beverage company SodaStream for $3.2 billion. The deal comes as more consumers are turning away from sugary beverages and toward more sustainable, in-home options.

The acquisition, which has been unanimously approved by PepsiCo’s shareholders, comes as the soda company is looking to diversify its portfolio and expand its reach globally. Pepsi products are currently available in retail shops in 45 countries, primarily focused on the U.S., Germany, France and Canada.

Among other things, the deal marks a play for the home market, which has proven elusive for Pepsi, as more and more consumers buy grocery supplies online. “We get to play in a business — home beverages — where we don’t play,” Pepsi CFO Hugh Johnston told CNBC.

There’s also a clear sustainability element to all of this, as consumer focus shifts away from single-use plastics. SodaStream has that going for it — a marked advantage over products like the bygone Keurig Kold.

“PepsiCo and SodaStream are an inspired match,” PepsiCo CEO Indra Nooyi said in a press release. “Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated. That focus is well-aligned with Performance with Purpose, our philosophy of making more nutritious products while limiting our environmental footprint. Together, we can advance our shared vision of a healthier, more-sustainable planet.”

Earlier this month, Nooyi announced plans to step down from her role. Under her watch as Chief Executive, Pepsi has shifted toward healthier options, like Bubly, largely seen as competitor to the popular LaCroix line. The SodaStream deal marks another step toward more health conscious offerings from the company. 

The deal is expected to close by January.


Source: TechCrunch

Here’s how to watch Nvidia’s GeForce event at Gamescom

Today is August 20, and that means Nvidia may showcase its GeForce RTX 20 Series of add-in graphics cards for gamers. We’re sticking with that name rather than the previous GTX 11 Series brand due to today’s date.

The post Here’s how to watch Nvidia’s GeForce event at Gamescom appeared first on Digital Trends.


Source: Digital trends

Saudi Arabia’s sovereign fund eyes investment in Lucid Motors, report says – Roadshow

The fund already has a 5-percent stake in Tesla.
Source: CNET

12345678910111213141516171819202122232425262728293031323334353637383940414243444546474849505152535455565758596061626364656667686970717273747576777879808182838485868788899091929394959697989910010110210310410510610710810911011111211311411511611711811912012112212312412512612712812913013113213313413513613713813914014114214314414514614714814915015115215315415515615715815916016116216316416516616716816917017117217317417517617717817918018118218318418518618718818919019119219319419519619719819920020120220320420520620720820921021121221321421521621721821922022122222322422522622722822923023123223323423523623723823924024124224324424524624724824925025125225325425525625725825926026126226326426526626726826927027127227327427527627727827928028128228328428528628728828929029129229329429529629729829930030130230330430530630730830931031131231331431531631731831932032132232332432532632732832933033133233333433533633733833934034134234334434534634734834935035135235335435535635735835936036136236336436536636736836937037137237337437537637737837938038138238338438538638738838939039139239339439539639739839940040140240340440540640740840941041141241341441541641741841942042142242342442542642742842943043143243343443543643743843944044144244344444544644744844945045145245345445545645745845946046146246346446546646746846947047147247347447547647747847948048148248348448548648748848949049149249349449549649749849950050150250350450550650750850951051151251351451551651751851952052152252352452552652752852953053153253353453553653753853954054154254354454554654754854955055155255355455555655755855956056156256356456556656756856957057157257357457557657757857958058158258358458558658758858959059159259359459559659759859960060160260360460560660760860961061161261361461561661761861962062162262362462562662762862963063163263363463563663763863964064164264364464564664764864965065165265365465565665765865966066166266366466566666766866967067167267367467567667767867968068168268368468568668768868969069169269369469569669769869970070170270370470570670770870971071171271371471571671771871972072172272372472572672772872973073173273373473573673773873974074174274374474574674774874975075175275375475575675775875976076176276376476576676776876977077177277377477577677777877978078178278378478578678778878979079179279379479579679779879980080180280380480580680780880981081181281381481581681781881982082182282382482582682782882983083183283383483583683783883984084184284384484584684784884985085185285385485585685785885986086186286386486586686786886987087187287387487587687787887988088188288388488588688788888989089189289389489589689789889990090190290390490590690790890991091191291391491591691791891992092192292392492592692792892993093193293393493593693793893994094194294394494594694794894995095195295395495595695795895996096196296396496596696796896997097197297397497597697797897998098198298398498598698798898999099199299399499599699799899910001001100210031004100510061007100810091010101110121013101410151016101710181019102010211022102310241025102610271028102910301031103210331034103510361037103810391040104110421043104410451046104710481049105010511052105310541055105610571058105910601061106210631064106510661067106810691070107110721073107410751076107710781079108010811082108310841085108610871088108910901091109210931094109510961097109810991100110111021103110411051106110711081109111011111112111311141115111611171118111911201121112211231124112511261127112811291130113111321133113411351136113711381139114011411142114311441145114611471148114911501151115211531154115511561157115811591160116111621163116411651166116711681169117011711172117311741175117611771178117911801181118211831184118511861187118811891190119111921193119411951196119711981199120012011202120312041205120612071208120912101211121212131214121512161217121812191220122112221223122412251226122712281229123012311232123312341235123612371238123912401241124212431244124512461247124812491250125112521253125412551256125712581259126012611262126312641265126612671268126912701271127212731274127512761277127812791280128112821283128412851286128712881289129012911292129312941295129612971298129913001301130213031304130513061307130813091310131113121313131413151316131713181319132013211322132313241325132613271328132913301331133213331334133513361337133813391340134113421343134413451346134713481349135013511352135313541355135613571358135913601361136213631364136513661367136813691370137113721373137413751376137713781379138013811382138313841385138613871388138913901391139213931394139513961397139813991400140114021403140414051406140714081409141014111412141314141415141614171418141914201421142214231424142514261427142814291430143114321433143414351436143714381439144014411442144314441445144614471448144914501451145214531454145514561457145814591460146114621463146414651466146714681469147014711472147314741475147614771478147914801481148214831484148514861487148814891490149114921493149414951496149714981499150015011502150315041505150615071508150915101511151215131514151515161517151815191520152115221523152415251526152715281529153015311532153315341535153615371538153915401541154215431544154515461547154815491550155115521553155415551556155715581559156015611562156315641565156615671568156915701571157215731574157515761577157815791580158115821583158415851586158715881589159015911592159315941595159615971598159916001601160216031604160516061607160816091610161116121613161416151616161716181619162016211622162316241625162616271628162916301631163216331634163516361637163816391640164116421643164416451646164716481649165016511652165316541655165616571658165916601661166216631664166516661667166816691670167116721673167416751676167716781679168016811682168316841685168616871688168916901691169216931694169516961697169816991700170117021703170417051706170717081709171017111712171317141715171617171718171917201721172217231724172517261727172817291730173117321733173417351736173717381739174017411742174317441745174617471748174917501751175217531754175517561757175817591760176117621763176417651766176717681769177017711772177317741775177617771778177917801781178217831784178517861787178817891790179117921793179417951796179717981799180018011802180318041805180618071808180918101811181218131814181518161817181818191820182118221823182418251826182718281829183018311832183318341835183618371838183918401841184218431844184518461847184818491850185118521853185418551856185718581859186018611862186318641865186618671868186918701871187218731874187518761877187818791880188118821883188418851886188718881889189018911892189318941895189618971898189919001901190219031904190519061907190819091910191119121913191419151916191719181919192019211922192319241925192619271928192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036203720382039204020412042204320442045204620472048204920502051205220532054205520562057205820592060206120622063206420652066206720682069207020712072207320742075207620772078207920802081208220832084208520862087208820892090209120922093209420952096209720982099210021012102210321042105210621072108210921102111211221132114211521162117211821192120212121222123212421252126212721282129213021312132213321342135213621372138213921402141214221432144214521462147214821492150215121522153215421552156215721582159216021612162216321642165216621672168216921702171217221732174217521762177217821792180218121822183218421852186218721882189219021912192219321942195219621972198219922002201220222032204220522062207220822092210221122122213221422152216221722182219222022212222222322242225222622272228222922302231223222332234223522362237223822392240224122422243224422452246224722482249225022512252225322542255225622572258225922602261226222632264226522662267226822692270227122722273227422752276227722782279228022812282228322842285228622872288228922902291229222932294229522962297229822992300230123022303230423052306230723082309231023112312231323142315231623172318231923202321232223232324232523262327232823292330233123322333233423352336233723382339234023412342234323442345234623472348234923502351235223532354235523562357235823592360236123622363236423652366236723682369237023712372237323742375237623772378237923802381238223832384238523862387238823892390239123922393239423952396239723982399240024012402240324042405240624072408240924102411241224132414241524162417241824192420242124222423242424252426242724282429243024312432243324342435243624372438243924402441244224432444244524462447244824492450245124522453245424552456245724582459246024612462246324642465246624672468246924702471247224732474247524762477247824792480248124822483248424852486248724882489249024912492249324942495249624972498249925002501250225032504250525062507250825092510251125122513251425152516251725182519252025212522252325242525252625272528252925302531253225332534253525362537253825392540254125422543254425452546254725482549255025512552255325542555255625572558255925602561256225632564256525662567256825692570257125722573257425752576257725782579258025812582258325842585258625872588258925902591259225932594259525962597259825992600260126022603260426052606260726082609261026112612261326142615261626172618261926202621262226232624262526262627262826292630263126322633263426352636263726382639264026412642264326442645264626472648264926502651265226532654265526562657265826592660266126622663266426652666266726682669267026712672267326742675267626772678267926802681268226832684268526862687268826892690269126922693269426952696269726982699270027012702270327042705270627072708270927102711271227132714271527162717271827192720272127222723272427252726272727282729273027312732273327342735273627372738273927402741274227432744274527462747274827492750275127522753275427552756275727582759276027612762276327642765276627672768276927702771277227732774277527762777277827792780278127822783278427852786278727882789279027912792279327942795279627972798279928002801280228032804280528062807280828092810281128122813281428152816281728182819282028212822282328242825282628272828282928302831283228332834283528362837283828392840284128422843284428452846284728482849285028512852285328542855285628572858285928602861286228632864286528662867286828692870287128722873287428752876287728782879288028812882288328842885288628872888288928902891289228932894289528962897289828992900290129022903290429052906290729082909291029112912291329142915291629172918291929202921292229232924292529262927292829292930293129322933293429352936293729382939294029412942294329442945294629472948294929502951295229532954295529562957295829592960296129622963296429652966296729682969297029712972297329742975297629772978297929802981298229832984298529862987298829892990299129922993299429952996299729982999300030013002300330043005300630073008300930103011301230133014301530163017301830193020302130223023302430253026302730283029303030313032303330343035303630373038303930403041304230433044304530463047304830493050305130523053305430553056305730583059306030613062306330643065306630673068306930703071307230733074307530763077307830793080308130823083308430853086308730883089309030913092309330943095309630973098309931003101310231033104310531063107310831093110311131123113311431153116311731183119312031213122312331243125312631273128312931303131313231333134313531363137313831393140314131423143314431453146314731483149315031513152315331543155315631573158315931603161316231633164316531663167316831693170317131723173317431753176317731783179318031813182318331843185318631873188318931903191319231933194319531963197319831993200320132023203320432053206320732083209321032113212321332143215321632173218321932203221322232233224322532263227322832293230323132323233323432353236323732383239324032413242324332443245324632473248324932503251325232533254325532563257325832593260326132623263326432653266326732683269327032713272327332743275327632773278327932803281328232833284328532863287328832893290329132923293329432953296329732983299330033013302330333043305330633073308330933103311331233133314331533163317331833193320332133223323332433253326332733283329333033313332333333343335333633373338333933403341334233433344334533463347334833493350335133523353335433553356335733583359336033613362336333643365336633673368336933703371337233733374337533763377337833793380338133823383338433853386338733883389339033913392339333943395339633973398339934003401340234033404340534063407340834093410341134123413341434153416341734183419342034213422342334243425342634273428342934303431343234333434343534363437343834393440344134423443344434453446344734483449345034513452345334543455345634573458345934603461346234633464346534663467346834693470347134723473347434753476347734783479348034813482348334843485348634873488348934903491349234933494349534963497349834993500350135023503350435053506350735083509351035113512351335143515351635173518351935203521352235233524352535263527352835293530353135323533353435353536353735383539354035413542354335443545354635473548354935503551355235533554355535563557355835593560356135623563356435653566356735683569357035713572357335743575357635773578357935803581358235833584358535863587358835893590359135923593359435953596359735983599360036013602360336043605360636073608360936103611361236133614361536163617361836193620362136223623362436253626362736283629363036313632363336343635363636373638363936403641364236433644364536463647364836493650365136523653365436553656365736583659366036613662366336643665366636673668366936703671367236733674367536763677367836793680368136823683368436853686368736883689369036913692369336943695369636973698369937003701370237033704370537063707370837093710371137123713371437153716371737183719372037213722372337243725372637273728372937303731373237333734373537363737373837393740374137423743374437453746374737483749375037513752375337543755375637573758375937603761376237633764376537663767376837693770377137723773377437753776377737783779378037813782378337843785378637873788378937903791379237933794379537963797379837993800380138023803380438053806380738083809381038113812381338143815381638173818381938203821382238233824382538263827382838293830383138323833383438353836383738383839384038413842384338443845384638473848384938503851385238533854385538563857385838593860386138623863386438653866386738683869387038713872387338743875387638773878387938803881388238833884388538863887388838893890389138923893389438953896389738983899390039013902390339043905390639073908390939103911391239133914391539163917391839193920392139223923392439253926392739283929393039313932393339343935393639373938393939403941394239433944394539463947394839493950395139523953395439553956395739583959396039613962396339643965396639673968396939703971397239733974397539763977397839793980398139823983398439853986398739883989399039913992399339943995399639973998399940004001400240034004400540064007400840094010401140124013401440154016401740184019402040214022402340244025402640274028402940304031403240334034403540364037403840394040404140424043404440454046404740484049405040514052405340544055405640574058405940604061406240634064406540664067406840694070407140724073407440754076407740784079408040814082408340844085408640874088408940904091409240934094409540964097409840994100410141024103410441054106410741084109411041114112411341144115411641174118411941204121412241234124412541264127412841294130413141324133413441354136413741384139414041414142414341444145414641474148414941504151415241534154415541564157415841594160416141624163416441654166416741684169417041714172417341744175417641774178417941804181418241834184418541864187418841894190419141924193419441954196419741984199420042014202420342044205420642074208420942104211421242134214421542164217421842194220422142224223422442254226422742284229423042314232423342344235423642374238423942404241424242434244424542464247424842494250425142524253425442554256425742584259426042614262426342644265426642674268426942704271427242734274427542764277427842794280428142824283428442854286428742884289429042914292429342944295429642974298429943004301430243034304430543064307430843094310431143124313431443154316431743184319432043214322432343244325432643274328432943304331433243334334433543364337433843394340434143424343434443454346434743484349435043514352435343544355435643574358435943604361436243634364436543664367436843694370437143724373437443754376437743784379438043814382438343844385438643874388438943904391439243934394439543964397439843994400440144024403440444054406440744084409441044114412441344144415441644174418441944204421442244234424442544264427442844294430443144324433443444354436443744384439444044414442444344444445444644474448444944504451445244534454445544564457445844594460446144624463446444654466446744684469447044714472447344744475447644774478447944804481448244834484448544864487448844894490449144924493449444954496449744984499450045014502450345044505450645074508450945104511451245134514451545164517451845194520452145224523452445254526452745284529453045314532453345344535453645374538453945404541454245434544454545464547454845494550455145524553455445554556455745584559456045614562456345644565456645674568456945704571457245734574457545764577457845794580458145824583458445854586458745884589459045914592459345944595459645974598459946004601460246034604460546064607460846094610461146124613461446154616461746184619462046214622462346244625462646274628462946304631463246334634463546364637463846394640464146424643464446454646464746484649465046514652465346544655465646574658465946604661466246634664466546664667466846694670467146724673467446754676467746784679468046814682468346844685468646874688468946904691469246934694469546964697469846994700470147024703470447054706470747084709471047114712471347144715471647174718471947204721472247234724472547264727472847294730473147324733473447354736473747384739474047414742474347444745474647474748474947504751475247534754475547564757475847594760476147624763476447654766476747684769477047714772477347744775477647774778477947804781478247834784478547864787478847894790479147924793479447954796479747984799480048014802480348044805480648074808480948104811481248134814481548164817481848194820482148224823482448254826482748284829483048314832483348344835483648374838483948404841484248434844484548464847484848494850485148524853485448554856485748584859486048614862486348644865486648674868486948704871487248734874487548764877487848794880488148824883488448854886488748884889489048914892489348944895489648974898489949004901490249034904490549064907490849094910491149124913491449154916491749184919492049214922492349244925492649274928492949304931493249334934493549364937493849394940494149424943494449454946494749484949495049514952495349544955495649574958495949604961496249634964496549664967496849694970497149724973497449754976497749784979498049814982498349844985498649874988498949904991499249934994499549964997499849995000500150025003500450055006500750085009501050115012501350145015501650175018501950205021502250235024502550265027502850295030503150325033503450355036503750385039504050415042504350445045504650475048504950505051505250535054505550565057505850595060506150625063506450655066506750685069507050715072507350745075507650775078507950805081508250835084508550865087508850895090509150925093509450955096509750985099510051015102510351045105510651075108510951105111511251135114511551165117511851195120512151225123512451255126512751285129513051315132513351345135513651375138513951405141514251435144514551465147514851495150515151525153515451555156515751585159516051615162516351645165516651675168516951705171517251735174517551765177517851795180518151825183518451855186518751885189519051915192519351945195519651975198519952005201520252035204520552065207520852095210521152125213521452155216521752185219522052215222522352245225522652275228522952305231523252335234523552365237523852395240524152425243524452455246524752485249525052515252525352545255525652575258525952605261526252635264526552665267526852695270527152725273527452755276527752785279528052815282528352845285528652875288528952905291529252935294529552965297529852995300530153025303530453055306530753085309531053115312531353145315531653175318531953205321532253235324532553265327532853295330533153325333533453355336533753385339534053415342534353445345534653475348534953505351535253535354535553565357535853595360536153625363536453655366536753685369537053715372537353745375537653775378537953805381538253835384538553865387538853895390539153925393539453955396539753985399540054015402540354045405540654075408540954105411541254135414541554165417541854195420542154225423542454255426542754285429543054315432543354345435543654375438543954405441544254435444544554465447544854495450545154525453545454555456545754585459546054615462546354645465546654675468546954705471547254735474547554765477547854795480548154825483548454855486548754885489549054915492549354945495549654975498549955005501550255035504550555065507550855095510551155125513551455155516551755185519552055215522552355245525552655275528552955305531553255335534553555365537553855395540554155425543554455455546554755485549555055515552555355545555555655575558555955605561556255635564556555665567556855695570557155725573557455755576557755785579558055815582558355845585558655875588558955905591559255935594559555965597559855995600560156025603560456055606560756085609561056115612561356145615561656175618561956205621