WEBVTT - Jeffrey Katzenberg and Hari Ravichandran Talk AI and Kids Online Safety

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>As parents look to keep their kids safe online, identity

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<v Speaker 2>protection firm Aura has released new AI tools to track

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<v Speaker 2>youth mental health that comes on the heels of the

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<v Speaker 2>startups one hundred and forty million dollar Series G funding round.

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<v Speaker 2>Aura's CEO Hari Ravi Chandron, and the company's biggest investor,

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<v Speaker 2>Jeffrey Katzenberg, managing partner at Winderco, are here with me,

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<v Speaker 2>and I appreciate you guys joining me on this topic,

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<v Speaker 2>which you know, I think finally is getting the attention

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<v Speaker 2>that it deserves, the damage that social media and technology

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<v Speaker 2>due to the mental health of our children. Jeff, let

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<v Speaker 2>me start with you and ask what brought you to

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<v Speaker 2>this investment and what sort of put you on this

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<v Speaker 2>put you on this path?

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<v Speaker 3>Love it?

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<v Speaker 4>So. I spent forty years in the media and entertainment

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<v Speaker 4>business at the Walt Disney Studios and a DreamWorks, and

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<v Speaker 4>every day got up and was in the world of

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<v Speaker 4>bringing to parents, moms, dads, and kids safe content and.

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<v Speaker 3>The appreciation of you know what that means.

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<v Speaker 4>And today keeping our kids safe has actually never been

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<v Speaker 4>more challenging or more complicated because of these devices and

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<v Speaker 4>the online lives that we have. When I parented my kids,

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<v Speaker 4>there were three things I wanted to know.

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<v Speaker 3>Where are they, what are they doing? And who are

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<v Speaker 3>they with?

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<v Speaker 4>And today they could be sitting in your kid can

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<v Speaker 4>be sitting across you at a kitchen table with a

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<v Speaker 4>phone in their hand.

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<v Speaker 3>You cannot answer those three questions.

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<v Speaker 4>As you said, there is actually just a growing epidemic

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<v Speaker 4>of how damaged and damaging we are doing to our

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<v Speaker 4>kids today, this generation. It's extraordinary. A few stats just

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<v Speaker 4>to frame how big the problem is. So twenty percent

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<v Speaker 4>of adolescents report.

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<v Speaker 3>Low self esteem, fifty.

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<v Speaker 4>Two percent have experienced or our experience and eating disorder.

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<v Speaker 4>Seventy percent of teens say anxiety and depression is a

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<v Speaker 4>major part among their peers, and a shocking twenty five

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<v Speaker 4>percent have ideation around suicide. So this is just we're

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<v Speaker 4>destroying our kids.

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<v Speaker 3>And what Hari has done.

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<v Speaker 4>As the founder of this is through his own personal experience,

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<v Speaker 4>which he should tell you about dealing with his own family.

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<v Speaker 4>Got on this mission two years ago to say he

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<v Speaker 4>built a company in which he has brought security for

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<v Speaker 4>families online.

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<v Speaker 3>Now he's going to bring safety. So Harry, tell.

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<v Speaker 2>Us about your experiences before starting this company, and then

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<v Speaker 2>how are you solving the problem?

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<v Speaker 1>Yeah, no, I'm happy to I have four kids, and

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<v Speaker 1>so one of my kids about two years ago was

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<v Speaker 1>going through a really tough patch, whether feeling depressed, feeling down,

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<v Speaker 1>some negative coping strategies, which was very frightening to us

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<v Speaker 1>as a family. And so leading up to that, you know,

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<v Speaker 1>we were pretty tight knit family. You know, we spend

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<v Speaker 1>time together. Ask her how she's doing. She says, Oh,

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<v Speaker 1>everything's fine. And then as we're kind of going through

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<v Speaker 1>the recovery cycle, we asked her how she's doing. She says,

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<v Speaker 1>I'm doing fine, and so as a parent, you wonder,

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<v Speaker 1>well she's saying the same thing, is she actually find

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<v Speaker 1>or not right? And so then we started looking around

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<v Speaker 1>for tools because the one thing I do I do

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<v Speaker 1>know during that journey, when we were super privacy, Oorent

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<v Speaker 1>never gave you know, never spend time on the kids

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<v Speaker 1>device or anything like that. During the journey, we did

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<v Speaker 1>spend some time on the device and there were things

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<v Speaker 1>there that I wish we'd kind of found earlier because

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<v Speaker 1>we might have been able to help her sooner. And

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<v Speaker 1>there really weren't any tools. There just wasn't anything to

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<v Speaker 1>actually go do this in a systematic way. And we

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<v Speaker 1>already were helping a lot of families with content problems,

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<v Speaker 1>etcetera that their kids had, So this is a natural

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<v Speaker 1>entree for us, and frankly is a tool that I

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<v Speaker 1>needed for my own kids. So I figured there's lots

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<v Speaker 1>of lots of families that can also use the same

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<v Speaker 1>technology as well.

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<v Speaker 3>Jeff, how do you deal with this in your family?

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<v Speaker 2>I mean, we've heard from recently Kate Winslet who said

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<v Speaker 2>her method is just to ban all social media for

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<v Speaker 2>her children.

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<v Speaker 4>Can't you cannot. It's an impractical thing. And so what

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<v Speaker 4>you need to do as a parent is you need tools.

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<v Speaker 4>You need insights in order to be able to navigate

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<v Speaker 4>and help your kids navigate through these.

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<v Speaker 3>Challenges.

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<v Speaker 4>And what you need for a twelve year old or

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<v Speaker 4>thirteen year old is quite different from what you need

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<v Speaker 4>for a sixteen year old or a seventeen year old.

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<v Speaker 4>And what Aura has created and is delivering is not spying.

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<v Speaker 4>It's about giving you the parent insights, giving you enough

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<v Speaker 4>knowledge you can still give your kids a lot of

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<v Speaker 4>leeway and a lot of privacy. We're not reading you

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<v Speaker 4>as a parent, are not going to read their text,

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<v Speaker 4>because if you do that, they're going to find.

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<v Speaker 3>A way to get off this and get around it.

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<v Speaker 4>In it they you know, they actually want some help,

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<v Speaker 4>they want some guidance. We hear that from you know,

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<v Speaker 4>our beta, from the kids that are on it today.

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<v Speaker 3>And so the analogy I would give you is is

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<v Speaker 3>that when.

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<v Speaker 4>Your child turns sixteen years old and gets a driver's license,

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<v Speaker 4>you don't send them out on a you know, on

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<v Speaker 4>a highway doing sixty five miles an hour without practice,

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<v Speaker 4>coaching and some experience in time.

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<v Speaker 3>Why would this be any other different? Why? Why should

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<v Speaker 3>this device?

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<v Speaker 4>Why should you be out there in that world, in

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<v Speaker 4>the wilderness with no guidance, no help, And parents right

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<v Speaker 4>now are really really struggling with this. And it's why frankly,

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<v Speaker 4>you know, I'm so proud to be on this mission

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<v Speaker 4>with Hari, because I think he's created something that's gone

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<v Speaker 4>from a nice to have to something that's actually essential.

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<v Speaker 3>We hear all the time parents are just desperate for help.

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<v Speaker 3>Is it an arms race? Hari?

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<v Speaker 2>I mean, have you found a solution that will work

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<v Speaker 2>forever or do you have to continually develop those tools?

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<v Speaker 2>As you know social media continuating.

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<v Speaker 1>It's always innovative innovation run. I mean you're continuously trying

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<v Speaker 1>to stay out in front because people do catch up

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<v Speaker 1>from behind, both in terms of you know, social media

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<v Speaker 1>companies changing strategy, et cetera, but also because the competitive set,

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<v Speaker 1>especially with the AI revolution, building things have been easier

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<v Speaker 1>than ever before.

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<v Speaker 3>So you have to build.

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<v Speaker 1>Motes and go to market avenues in other areas beyond

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<v Speaker 1>just technology. You have to keep evolving the tech as

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<v Speaker 1>well and finding more and more use cases. But you

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<v Speaker 1>have to do a lot more than that anymore, especially

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<v Speaker 1>with AI making things so ubiquitous.

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<v Speaker 2>Can you work with other social media companies? I mean,

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<v Speaker 2>Jeffrey Katzenberg, you must know some of these executives who

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<v Speaker 2>run you know, Facebook or Twitter.

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<v Speaker 3>Can't they be helping as well? It's a problem that

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<v Speaker 3>they should be aware of.

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<v Speaker 4>Maybe they can, but they have their missions they are

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<v Speaker 4>on And I want to be clear, not all social

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<v Speaker 4>media is bad.

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<v Speaker 3>Right.

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<v Speaker 4>There's been incredible, incredible values that have been created in

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<v Speaker 4>terms of community and communications and knowledge and just extraordinary

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<v Speaker 4>access that we have in this new generation has with

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<v Speaker 4>these tools in it, and.

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<v Speaker 3>So this is a byproduct of it.

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<v Speaker 4>The rabbit holes, the deep dark rabbit holes, that you know,

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<v Speaker 4>one can go down or get sucked down into in it.

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<v Speaker 4>And we're not here pointing fingers at anybody. What we

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<v Speaker 4>are doing is is we're creating a solution. And frankly,

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<v Speaker 4>I would think those companies would be thrilled with this solution.

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<v Speaker 4>And you know, it comes out of these things you use.

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<v Speaker 4>In my opinion and certainly my experience matters, they come

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<v Speaker 4>out of a person with enough technical and experience knowledge

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<v Speaker 4>in an area who suddenly comes upon a mission. And Hari,

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<v Speaker 4>from his own personal experience with his own family, has

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<v Speaker 4>been mission driven for the last two years, and I

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<v Speaker 4>think that's what has created something that is so invaluable

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<v Speaker 4>and practical and of the moment in time.

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<v Speaker 2>Well, I appreciate you both coming by to talk about this.

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<v Speaker 2>It's an issue that Bloomberg has focused on as well,

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<v Speaker 2>so very important too, I think all of us, certainly

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<v Speaker 2>as parents. Thanks very much, jeffre Katzenberg and Hari Rabi

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<v Speaker 2>Chandron of Aura