[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"catalog-en":3,"intro-expected-value-en":1439},[4,80,156,230,304,374,447,521,592,665,737,811,883,953,1028,1101,1173,1238,1307,1375],{"zone":5,"title":6,"path":7,"tier":5,"theme":8,"lessons":13,"topics":76},1,"Origins of Money","\u002Flearn\u002F1\u002Forigins-of-money",{"key":9,"name":10,"light":11,"dark":12},"old-mint","Old Mint","#0C9B6C","#10B981",[14,21,29,37,44,51,57,63,69],{"stage":5,"step":5,"id":15,"path":16,"node":5,"title":17,"subtitle":18,"topic":19,"track":20},"your-money-isnt-in-the-bank","\u002Flearn\u002F1\u002Forigins-of-money\u002Fyour-money-isnt-in-the-bank","Where Is Your Money?","Your balance is a number on a screen; only about one US dollar in ten exists as cash","Modern Money","Banks & Central Banks",{"stage":5,"step":22,"id":23,"path":24,"node":22,"title":25,"subtitle":26,"topic":27,"track":28},2,"what-is-money-really","\u002Flearn\u002F1\u002Forigins-of-money\u002Fwhat-is-money-really","What Is Money, Really?","Swap it, price with it, save it, and believe in it","What Money Is","Money & Its History",{"stage":5,"step":30,"id":31,"path":32,"node":30,"title":33,"subtitle":34,"topic":35,"track":36},3,"whats-your-hour-really-worth","\u002Flearn\u002F1\u002Forigins-of-money\u002Fwhats-your-hour-really-worth","What's Your Hour Really Worth?","Your real hourly wage is lower than your paycheck says","Time and Money","Work & the Rat Race",{"stage":5,"step":38,"id":39,"path":40,"node":38,"title":41,"subtitle":42,"topic":43,"track":28},4,"the-four-cent-penny","\u002Flearn\u002F1\u002Forigins-of-money\u002Fthe-four-cent-penny","The Four-Cent Penny","Making a cent cost the US Mint almost four, so in 2025 it stopped","Coins",{"stage":5,"step":45,"id":46,"path":47,"node":45,"title":48,"subtitle":49,"topic":50,"track":28},5,"from-shells-to-coins","\u002Flearn\u002F1\u002Forigins-of-money\u002Ffrom-shells-to-coins","From Shells to Coins","Cowrie shells, silver lumps and the first stamped coins","History of Money",{"stage":5,"step":52,"id":53,"path":54,"node":52,"title":55,"subtitle":56,"topic":50,"track":28},6,"the-barter-myth","\u002Flearn\u002F1\u002Forigins-of-money\u002Fthe-barter-myth","The Barter Myth","Textbooks say people bartered before money. Anthropologists can't find it",{"stage":5,"step":58,"id":59,"path":60,"node":58,"title":61,"subtitle":62,"topic":50,"track":28},7,"paper-promises","\u002Flearn\u002F1\u002Forigins-of-money\u002Fpaper-promises","Paper Promises","The first paper money was an IOU you could pass on",{"stage":5,"step":64,"id":65,"path":66,"node":64,"title":67,"subtitle":68,"topic":50,"track":28},8,"why-its-called-a-dollar","\u002Flearn\u002F1\u002Forigins-of-money\u002Fwhy-its-called-a-dollar","Why It's Called a Dollar","The name started in a silver mine in Bohemia",{"stage":5,"step":70,"id":71,"path":72,"node":70,"title":73,"subtitle":74,"topic":75,"track":28},9,"acres-of-diamonds","\u002Flearn\u002F1\u002Forigins-of-money\u002Facres-of-diamonds","Acres of Diamonds","In a famous 1890 lecture, a farmer sells his land to hunt the world for diamonds; the next owner finds them in the backyard stream","Opportunity",[77,78,79],{"track":28,"count":58},{"track":20,"count":5},{"track":36,"count":5},{"zone":22,"title":81,"path":82,"tier":5,"theme":83,"lessons":88,"topics":152},"The Rat Race","\u002Flearn\u002F2\u002Fthe-rat-race",{"key":84,"name":85,"light":86,"dark":87},"clockwork-city","Clockwork City","#c2410c","#e2581a",[89,96,103,109,116,123,131,138,146],{"stage":22,"step":5,"id":90,"path":91,"node":92,"title":93,"subtitle":94,"topic":95,"track":36},"where-your-paycheck-goes","\u002Flearn\u002F2\u002Fthe-rat-race\u002Fwhere-your-paycheck-goes",10,"Where Your Paycheck Goes","Gross pay is the number you're offered; net pay is what lands","Paychecks",{"stage":22,"step":22,"id":97,"path":98,"node":99,"title":100,"subtitle":101,"topic":102,"track":36},"the-raise-that-costs-you-money","\u002Flearn\u002F2\u002Fthe-rat-race\u002Fthe-raise-that-costs-you-money",11,"The Raise That Costs You Money","A higher tax bracket only taxes the dollars above the line","Taxes",{"stage":22,"step":30,"id":104,"path":105,"node":106,"title":107,"subtitle":108,"topic":81,"track":36},"trading-time-for-money","\u002Flearn\u002F2\u002Fthe-rat-race\u002Ftrading-time-for-money",12,"Trading Time for Money","A paycheck stops the day you stop",{"stage":22,"step":38,"id":110,"path":111,"node":112,"title":113,"subtitle":114,"topic":115,"track":36},"the-40-hour-week-was-a-fight","\u002Flearn\u002F2\u002Fthe-rat-race\u002Fthe-40-hour-week-was-a-fight",13,"The 40-Hour Week Was a Fight","Weekends weren't a gift; they were won","History of Work",{"stage":22,"step":45,"id":117,"path":118,"node":119,"title":120,"subtitle":121,"topic":122,"track":36},"active-and-passive-income","\u002Flearn\u002F2\u002Fthe-rat-race\u002Factive-and-passive-income",14,"Active and Passive Income","Money you work for and money that works for you","Income",{"stage":22,"step":52,"id":124,"path":125,"node":126,"title":127,"subtitle":128,"topic":129,"track":130},"the-hedonic-treadmill","\u002Flearn\u002F2\u002Fthe-rat-race\u002Fthe-hedonic-treadmill",15,"The Hedonic Treadmill","Every upgrade quickly feels normal","Happiness","Money Mindset & Psychology",{"stage":22,"step":58,"id":132,"path":133,"node":134,"title":135,"subtitle":136,"topic":137,"track":36},"the-fisherman-and-the-banker","\u002Flearn\u002F2\u002Fthe-rat-race\u002Fthe-fisherman-and-the-banker",16,"The Fisherman and the Banker","Retold after Heinrich Böll's 1963 tale: a banker urges a fisherman to build a fleet so that one day he can retire and... fish all afternoon","Purpose",{"stage":22,"step":64,"id":139,"path":140,"node":141,"title":142,"subtitle":143,"topic":144,"track":145},"your-freedom-number","\u002Flearn\u002F2\u002Fthe-rat-race\u002Fyour-freedom-number",17,"Your Freedom Number","How much it takes so that work becomes optional","Financial Independence","Saving & Compound Interest",{"stage":22,"step":70,"id":147,"path":148,"node":149,"title":150,"subtitle":151,"topic":144,"track":36},"the-savings-rate-shortcut","\u002Flearn\u002F2\u002Fthe-rat-race\u002Fthe-savings-rate-shortcut",18,"The Savings Rate Shortcut","How much you keep matters more than how much you make",[153,154,155],{"track":36,"count":58},{"track":130,"count":5},{"track":145,"count":5},{"zone":30,"title":157,"path":158,"tier":5,"theme":159,"lessons":164,"topics":227},"Business Basics","\u002Flearn\u002F3\u002Fbusiness-basics",{"key":160,"name":161,"light":162,"dark":163},"founders-garage","Founders' Garage","#1d4ed8","#3b7cf0",[165,172,179,186,192,199,206,213,220],{"stage":30,"step":5,"id":166,"path":167,"node":168,"title":169,"subtitle":170,"topic":157,"track":171},"revenue-isnt-profit","\u002Flearn\u002F3\u002Fbusiness-basics\u002Frevenue-isnt-profit",19,"Revenue Isn't Profit","What comes in minus what goes out","Building a Business",{"stage":30,"step":22,"id":173,"path":174,"node":175,"title":176,"subtitle":177,"topic":178,"track":171},"nine-out-of-ten-fail-in-year-one","\u002Flearn\u002F3\u002Fbusiness-basics\u002Fnine-out-of-ten-fail-in-year-one",20,"Nine Out of Ten Fail in Year One","US data says about four in five new businesses survive their first year","Startups",{"stage":30,"step":30,"id":180,"path":181,"node":182,"title":183,"subtitle":184,"topic":185,"track":171},"margin-what-you-keep-from-each-sale","\u002Flearn\u002F3\u002Fbusiness-basics\u002Fmargin-what-you-keep-from-each-sale",21,"Margin: What You Keep From Each Sale","Price minus cost, one item at a time","Unit Economics",{"stage":30,"step":38,"id":187,"path":188,"node":189,"title":190,"subtitle":191,"topic":185,"track":171},"the-break-even-point","\u002Flearn\u002F3\u002Fbusiness-basics\u002Fthe-break-even-point",22,"The Break-Even Point","The sale where you stop losing money",{"stage":30,"step":45,"id":193,"path":194,"node":195,"title":196,"subtitle":197,"topic":198,"track":171},"your-side-hustle-math","\u002Flearn\u002F3\u002Fbusiness-basics\u002Fyour-side-hustle-math",23,"Your Side-Hustle Math","What your idea really pays per hour","Side Hustles",{"stage":30,"step":52,"id":200,"path":201,"node":202,"title":203,"subtitle":204,"topic":205,"track":171},"three-feet-from-gold","\u002Flearn\u002F3\u002Fbusiness-basics\u002Fthree-feet-from-gold",24,"Three Feet from Gold","The story goes that a miner quit and sold his rig, and the buyer struck the vein three feet further down","Persistence",{"stage":30,"step":58,"id":207,"path":208,"node":209,"title":210,"subtitle":211,"topic":212,"track":130},"regret-runs-backwards","\u002Flearn\u002F3\u002Fbusiness-basics\u002Fregret-runs-backwards",25,"Regret Runs Backwards","In the long run, people regret what they didn't try","Regret",{"stage":30,"step":64,"id":214,"path":215,"node":216,"title":217,"subtitle":218,"topic":219,"track":171},"why-founders-form-an-llc","\u002Flearn\u002F3\u002Fbusiness-basics\u002Fwhy-founders-form-an-llc",26,"Why Founders Form an LLC","A wall between the business and your house","Business Structures",{"stage":30,"step":70,"id":221,"path":222,"node":223,"title":224,"subtitle":225,"topic":226,"track":171},"the-ice-king","\u002Flearn\u002F3\u002Fbusiness-basics\u002Fthe-ice-king",27,"The Ice King","A man shipped New England ice to the tropics and everyone laughed","Founders",[228,229],{"track":171,"count":64},{"track":130,"count":5},{"zone":38,"title":231,"path":232,"tier":5,"theme":233,"lessons":238,"topics":301},"Budgeting Basics","\u002Flearn\u002F4\u002Fbudgeting-basics",{"key":234,"name":235,"light":236,"dark":237},"market-bazaar","Market Bazaar","#be185d","#d9327a",[239,247,253,260,267,274,281,288,294],{"stage":38,"step":5,"id":240,"path":241,"node":242,"title":243,"subtitle":244,"topic":245,"track":246},"needs-wants-and-the-gray-zone","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fneeds-wants-and-the-gray-zone",28,"Needs, Wants and the Gray Zone","Rent is a need. A bigger apartment might not be","Budgeting","Spending & Budgeting",{"stage":38,"step":22,"id":248,"path":249,"node":250,"title":251,"subtitle":252,"topic":245,"track":246},"the-50-30-20-budget","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fthe-50-30-20-budget",29,"The 50\u002F30\u002F20 Budget","Half for needs, a third for wants, a fifth for the future",{"stage":38,"step":30,"id":254,"path":255,"node":256,"title":257,"subtitle":258,"topic":259,"track":246},"why-prices-end-in-99","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fwhy-prices-end-in-99",30,"Why Prices End in .99","$4.99 feels a lot cheaper than $5.00","Pricing",{"stage":38,"step":38,"id":261,"path":262,"node":263,"title":264,"subtitle":265,"topic":266,"track":246},"the-subscriptions-that-never-sleep","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fthe-subscriptions-that-never-sleep",31,"The Subscriptions That Never Sleep","Small monthly charges add up to a big yearly bill","Recurring Costs",{"stage":38,"step":45,"id":268,"path":269,"node":270,"title":271,"subtitle":272,"topic":273,"track":130},"the-pain-of-paying","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fthe-pain-of-paying",32,"The Pain of Paying","Cards hurt less than cash, so we spend more","Spending Psychology",{"stage":38,"step":52,"id":275,"path":276,"node":277,"title":278,"subtitle":279,"topic":280,"track":246},"the-marshmallow-test","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fthe-marshmallow-test",33,"The Marshmallow Test","Kids offered one treat now or two later showed how hard waiting is, and later studies found the setting matters as much as willpower","Delayed Gratification",{"stage":38,"step":58,"id":282,"path":283,"node":284,"title":285,"subtitle":286,"topic":287,"track":246},"cost-per-use","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fcost-per-use",34,"Cost Per Use","A $200 coat you wear daily can cost less than a $40 one you never do","Smart Spending",{"stage":38,"step":64,"id":289,"path":290,"node":291,"title":292,"subtitle":293,"topic":245,"track":246},"where-did-my-month-go","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fwhere-did-my-month-go",35,"Where Did My Month Go?","Your spending, drawn as a picture",{"stage":38,"step":70,"id":295,"path":296,"node":297,"title":298,"subtitle":299,"topic":300,"track":246},"the-gruen-transfer","\u002Flearn\u002F4\u002Fbudgeting-basics\u002Fthe-gruen-transfer",36,"The Gruen Transfer","Malls are designed to make you forget why you came","Retail Design",[302,303],{"track":246,"count":64},{"track":130,"count":5},{"zone":45,"title":305,"path":306,"tier":5,"theme":307,"lessons":312,"topics":371},"Compound Interest","\u002Flearn\u002F5\u002Fcompound-interest",{"key":308,"name":309,"light":310,"dark":311},"compound-gardens","Compound Gardens","#4d7c0f","#5f9410",[313,320,327,333,339,345,351,358,365],{"stage":45,"step":5,"id":314,"path":315,"node":316,"title":317,"subtitle":318,"topic":319,"track":145},"pay-yourself-first","\u002Flearn\u002F5\u002Fcompound-interest\u002Fpay-yourself-first",37,"Pay Yourself First","Save before you spend, not after","Saving",{"stage":45,"step":22,"id":321,"path":322,"node":323,"title":324,"subtitle":325,"topic":326,"track":145},"simple-interest","\u002Flearn\u002F5\u002Fcompound-interest\u002Fsimple-interest",38,"Simple Interest","Interest paid only on what you put in","Interest",{"stage":45,"step":30,"id":328,"path":329,"node":330,"title":331,"subtitle":332,"topic":305,"track":145},"interest-on-interest","\u002Flearn\u002F5\u002Fcompound-interest\u002Finterest-on-interest",39,"Interest on Interest","Compound interest turns a straight line into a curve",{"stage":45,"step":38,"id":334,"path":335,"node":336,"title":337,"subtitle":338,"topic":305,"track":145},"the-rule-of-72","\u002Flearn\u002F5\u002Fcompound-interest\u002Fthe-rule-of-72",40,"The Rule of 72","Divide 72 by the rate to see how fast money doubles",{"stage":45,"step":45,"id":340,"path":341,"node":342,"title":343,"subtitle":344,"topic":305,"track":145},"einstein-never-said-it","\u002Flearn\u002F5\u002Fcompound-interest\u002Feinstein-never-said-it",41,"Einstein Never Said It","The 'eighth wonder of the world' quote has no source",{"stage":45,"step":52,"id":346,"path":347,"node":348,"title":349,"subtitle":350,"topic":305,"track":145},"start-at-20-or-at-30","\u002Flearn\u002F5\u002Fcompound-interest\u002Fstart-at-20-or-at-30",42,"Start at 20 or at 30?","Ten years of waiting can cost more than ten years of saving",{"stage":45,"step":58,"id":352,"path":353,"node":354,"title":355,"subtitle":356,"topic":357,"track":145},"franklins-200-year-gift","\u002Flearn\u002F5\u002Fcompound-interest\u002Ffranklins-200-year-gift",43,"Franklin's 200-Year Gift","Benjamin Franklin left £1,000 to Boston to grow for 200 years; by 1990 it was worth millions","Patience",{"stage":45,"step":64,"id":359,"path":360,"node":361,"title":362,"subtitle":363,"topic":364,"track":130},"future-you-is-a-stranger","\u002Flearn\u002F5\u002Fcompound-interest\u002Ffuture-you-is-a-stranger",44,"Future You Is a Stranger","Your brain treats your older self like someone else","Saving Psychology",{"stage":45,"step":70,"id":366,"path":367,"node":368,"title":369,"subtitle":370,"topic":319,"track":145},"the-emergency-fund","\u002Flearn\u002F5\u002Fcompound-interest\u002Fthe-emergency-fund",45,"The Emergency Fund","Cash that turns a crisis into an inconvenience",[372,373],{"track":145,"count":64},{"track":130,"count":5},{"zone":52,"title":375,"path":376,"tier":5,"theme":377,"lessons":382,"topics":444},"Debt & Credit","\u002Flearn\u002F6\u002Fdebt-and-credit",{"key":378,"name":379,"light":380,"dark":381},"debt-canyon","Debt Canyon","#b42318","#d63b2f",[383,391,397,404,410,417,423,430,437],{"stage":52,"step":5,"id":384,"path":385,"node":386,"title":387,"subtitle":388,"topic":389,"track":390},"borrowing-is-renting-money","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Fborrowing-is-renting-money",46,"Borrowing Is Renting Money","Interest is the rent you pay to use someone else's money","Debt","Borrowing, Credit & Debt",{"stage":52,"step":22,"id":392,"path":393,"node":394,"title":395,"subtitle":396,"topic":389,"track":390},"apr-the-real-price-of-a-loan","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Fapr-the-real-price-of-a-loan",47,"APR: The Real Price of a Loan","One number to compare every loan",{"stage":52,"step":30,"id":398,"path":399,"node":400,"title":401,"subtitle":402,"topic":403,"track":390},"the-dinner-that-probably-never-happened","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Fthe-dinner-that-probably-never-happened",48,"The Dinner That Probably Never Happened","The famous origin of the credit card was a sales story","Credit Cards",{"stage":52,"step":38,"id":405,"path":406,"node":407,"title":408,"subtitle":409,"topic":403,"track":390},"the-minimum-payment-trap","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Fthe-minimum-payment-trap",49,"The Minimum Payment Trap","Paying the minimum can stretch a card balance over many years",{"stage":52,"step":45,"id":411,"path":412,"node":413,"title":414,"subtitle":415,"topic":416,"track":390},"the-debt-payoff-race","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Fthe-debt-payoff-race",50,"The Debt Payoff Race","Smallest balance first or highest rate first?","Debt Payoff",{"stage":52,"step":52,"id":418,"path":419,"node":420,"title":421,"subtitle":422,"topic":389,"track":390},"what-debt-buys","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Fwhat-debt-buys",51,"What Debt Buys","Borrowing for things that grow versus things that shrink",{"stage":52,"step":58,"id":424,"path":425,"node":426,"title":427,"subtitle":428,"topic":429,"track":130},"present-bias","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Fpresent-bias",52,"Present Bias","Today always feels more real than tomorrow","Borrowing Psychology",{"stage":52,"step":64,"id":431,"path":432,"node":433,"title":434,"subtitle":435,"topic":436,"track":390},"twain-pays-it-all-back","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Ftwain-pays-it-all-back",53,"Twain Pays It All Back","Mark Twain went bankrupt on a typesetting machine and toured the world on stage to repay every creditor in full","Integrity",{"stage":52,"step":70,"id":438,"path":439,"node":440,"title":441,"subtitle":442,"topic":443,"track":390},"your-credit-score","\u002Flearn\u002F6\u002Fdebt-and-credit\u002Fyour-credit-score",54,"Your Credit Score","A three-digit number that prices your next loan","Credit",[445,446],{"track":390,"count":64},{"track":130,"count":5},{"zone":58,"title":448,"path":449,"tier":5,"theme":450,"lessons":455,"topics":518},"How Banks Work","\u002Flearn\u002F7\u002Fhow-banks-work",{"key":451,"name":452,"light":453,"dark":454},"vault-district","Vault District","#0f766e","#0d8f86",[456,463,469,476,483,490,497,504,511],{"stage":58,"step":5,"id":457,"path":458,"node":459,"title":460,"subtitle":461,"topic":462,"track":20},"what-a-bank-really-is","\u002Flearn\u002F7\u002Fhow-banks-work\u002Fwhat-a-bank-really-is",55,"What a Bank Really Is","A middleman between savers and borrowers","Banking",{"stage":58,"step":22,"id":464,"path":465,"node":466,"title":467,"subtitle":468,"topic":462,"track":20},"most-of-it-isnt-there","\u002Flearn\u002F7\u002Fhow-banks-work\u002Fmost-of-it-isnt-there",56,"Most of It Isn't There","Banks keep only a slice of deposits on hand",{"stage":58,"step":30,"id":470,"path":471,"node":472,"title":473,"subtitle":474,"topic":475,"track":20},"the-vault-nobody-visits","\u002Flearn\u002F7\u002Fhow-banks-work\u002Fthe-vault-nobody-visits",57,"The Vault Nobody Visits","Fort Knox holds about half of America's gold","Gold Reserves",{"stage":58,"step":38,"id":477,"path":478,"node":479,"title":480,"subtitle":481,"topic":482,"track":20},"why-your-deposit-is-safe","\u002Flearn\u002F7\u002Fhow-banks-work\u002Fwhy-your-deposit-is-safe",58,"Why Your Deposit Is Safe","The FDIC has your back up to $250,000","Deposit 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Bonds",{"stage":99,"step":38,"id":768,"path":769,"node":770,"title":771,"subtitle":772,"topic":752,"track":753},"who-borrows-with-bonds","\u002Flearn\u002F11\u002Fbond-basics\u002Fwho-borrows-with-bonds",94,"Who Borrows With Bonds","Governments, cities and companies",{"stage":99,"step":45,"id":774,"path":775,"node":776,"title":777,"subtitle":778,"topic":779,"track":753},"the-bond-seesaw","\u002Flearn\u002F11\u002Fbond-basics\u002Fthe-bond-seesaw",95,"The Bond Seesaw","When rates rise, existing bond prices fall","Interest Rates",{"stage":99,"step":52,"id":781,"path":782,"node":783,"title":784,"subtitle":785,"topic":786,"track":753},"the-375-year-old-bond","\u002Flearn\u002F11\u002Fbond-basics\u002Fthe-375-year-old-bond",96,"A Bond Older Than America","A Dutch water-board bond from 1648 still pays interest to Yale 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Mesa","#7e22ce","#9638e6",[962,970,977,984,991,998,1005,1012,1019],{"stage":119,"step":5,"id":963,"path":964,"node":965,"title":966,"subtitle":967,"topic":968,"track":969},"money-without-a-bank","\u002Flearn\u002F14\u002Fcrypto-basics\u002Fmoney-without-a-bank",118,"Money Without a Bank","Bitcoin moves value with no one in the middle","Cryptocurrency","Crypto & Digital Money",{"stage":119,"step":22,"id":971,"path":972,"node":973,"title":974,"subtitle":975,"topic":976,"track":969},"the-shared-notebook","\u002Flearn\u002F14\u002Fcrypto-basics\u002Fthe-shared-notebook",119,"The Shared Notebook","A blockchain is a record everyone keeps a copy of","Blockchain",{"stage":119,"step":30,"id":978,"path":979,"node":980,"title":981,"subtitle":982,"topic":983,"track":969},"nobody-knows-who-made-bitcoin","\u002Flearn\u002F14\u002Fcrypto-basics\u002Fnobody-knows-who-made-bitcoin",120,"Nobody Knows Who Made Bitcoin","Its creator vanished and left a fortune untouched","Crypto History",{"stage":119,"step":38,"id":985,"path":986,"node":987,"title":988,"subtitle":989,"topic":990,"track":969},"why-only-21-million","\u002Flearn\u002F14\u002Fcrypto-basics\u002Fwhy-only-21-million",121,"Why Only 21 Million","A money supply fixed in code","Bitcoin Supply",{"stage":119,"step":45,"id":992,"path":993,"node":994,"title":995,"subtitle":996,"topic":997,"track":969},"keys-and-wallets","\u002Flearn\u002F14\u002Fcrypto-basics\u002Fkeys-and-wallets",122,"Keys and Wallets","Whoever holds the key holds the coins","Crypto Security",{"stage":119,"step":52,"id":999,"path":1000,"node":1001,"title":1002,"subtitle":1003,"topic":1004,"track":969},"the-10-000-bitcoin-pizza","\u002Flearn\u002F14\u002Fcrypto-basics\u002Fthe-10-000-bitcoin-pizza",123,"The 10,000-Bitcoin Pizza","In 2010 a programmer bought two pizzas with coins later worth hundreds of millions","Hindsight",{"stage":119,"step":58,"id":1006,"path":1007,"node":1008,"title":1009,"subtitle":1010,"topic":1011,"track":969},"crypto-is-anonymous","\u002Flearn\u002F14\u002Fcrypto-basics\u002Fcrypto-is-anonymous",124,"Crypto Is Anonymous","Every bitcoin payment is public forever","Crypto Privacy",{"stage":119,"step":64,"id":1013,"path":1014,"node":1015,"title":1016,"subtitle":1017,"topic":1018,"track":130},"fear-of-missing-out","\u002Flearn\u002F14\u002Fcrypto-basics\u002Ffear-of-missing-out",125,"Fear of Missing Out","Watching others get rich makes us forget the risks","Herding",{"stage":119,"step":70,"id":1020,"path":1021,"node":1022,"title":1023,"subtitle":1024,"topic":983,"track":969},"the-coin-that-started-as-a-joke","\u002Flearn\u002F14\u002Fcrypto-basics\u002Fthe-coin-that-started-as-a-joke",126,"The Coin That Started as a Joke","Dogecoin was created to make fun of crypto",[1026,1027],{"track":969,"count":64},{"track":130,"count":5},{"zone":126,"title":1029,"path":1030,"tier":5,"theme":1031,"lessons":1036,"topics":1098},"Bubbles & Scams","\u002Flearn\u002F15\u002Fbubbles-and-scams",{"key":1032,"name":1033,"light":1034,"dark":1035},"bubble-bay","Bubble Bay","#c0267a","#e04096",[1037,1045,1052,1059,1065,1071,1078,1085,1091],{"stage":126,"step":5,"id":1038,"path":1039,"node":1040,"title":1041,"subtitle":1042,"topic":1043,"track":1044},"what-a-bubble-is","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002Fwhat-a-bubble-is",127,"What a Bubble Is","When prices float far above what things are worth","Bubbles","Bubbles, Scams & Crashes",{"stage":126,"step":22,"id":1046,"path":1047,"node":1048,"title":1049,"subtitle":1050,"topic":1051,"track":1044},"the-ponzi-shape","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002Fthe-ponzi-shape",128,"The Ponzi Shape","Old investors are paid with new investors' money","Fraud",{"stage":126,"step":30,"id":1053,"path":1054,"node":1055,"title":1056,"subtitle":1057,"topic":1058,"track":1044},"25-years-to-get-back","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002F25-years-to-get-back",129,"25 Years to Get Back","The Dow didn't reclaim its 1929 peak until 1954","Crashes",{"stage":126,"step":38,"id":1060,"path":1061,"node":1062,"title":1063,"subtitle":1064,"topic":1051,"track":1044},"red-flags-of-a-scam","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002Fred-flags-of-a-scam",130,"Red Flags of a Scam","Guaranteed, urgent, secret",{"stage":126,"step":45,"id":1066,"path":1067,"node":1068,"title":1069,"subtitle":1070,"topic":1051,"track":1044},"smart-people-dont-get-scammed","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002Fsmart-people-dont-get-scammed",131,"Smart People Don't Get Scammed","Young adults report losing money to fraud more often than older ones",{"stage":126,"step":52,"id":1072,"path":1073,"node":1074,"title":1075,"subtitle":1076,"topic":1077,"track":1044},"pump-and-dump","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002Fpump-and-dump",132,"Pump and Dump","Hype a stock, sell it to the crowd, disappear","Market Manipulation",{"stage":126,"step":58,"id":1079,"path":1080,"node":1081,"title":1082,"subtitle":1083,"topic":1084,"track":1044},"tulip-mania","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002Ftulip-mania",133,"Tulip Mania","Dutch traders bid single tulip bulbs up to fantasy prices, though the crash was smaller than the legend says","Crowds",{"stage":126,"step":64,"id":1086,"path":1087,"node":1088,"title":1089,"subtitle":1090,"topic":1018,"track":130},"following-the-herd","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002Ffollowing-the-herd",134,"Following the Herd","We trust a crowd even when it's wrong",{"stage":126,"step":70,"id":1092,"path":1093,"node":1094,"title":1095,"subtitle":1096,"topic":1097,"track":1044},"ponzi-wasnt-first","\u002Flearn\u002F15\u002Fbubbles-and-scams\u002Fponzi-wasnt-first",135,"Ponzi Wasn't First","A Boston woman ran the same scheme 40 years earlier","Fraud History",[1099,1100],{"track":1044,"count":64},{"track":130,"count":5},{"zone":134,"title":1102,"path":1103,"tier":5,"theme":1104,"lessons":1109,"topics":1171},"Money & Happiness","\u002Flearn\u002F16\u002Fmoney-and-happiness",{"key":1105,"name":1106,"light":1107,"dark":1108},"mind-maze","Mind Maze","#8a5a00","#a86e04",[1110,1117,1124,1130,1136,1143,1150,1157,1164],{"stage":134,"step":5,"id":1111,"path":1112,"node":1113,"title":1114,"subtitle":1115,"topic":1116,"track":130},"scarcity-shrinks-your-bandwidth","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fscarcity-shrinks-your-bandwidth",136,"Scarcity Shrinks Your Bandwidth","Money worries use up mental space","Scarcity",{"stage":134,"step":22,"id":1118,"path":1119,"node":1120,"title":1121,"subtitle":1122,"topic":1123,"track":130},"your-money-story","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fyour-money-story",137,"Your Money Story","What you learned about money as a kid still runs the show","Money Beliefs",{"stage":134,"step":30,"id":1125,"path":1126,"node":1127,"title":1128,"subtitle":1129,"topic":129,"track":130},"does-winning-the-lottery-make-you-happy","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fdoes-winning-the-lottery-make-you-happy",138,"Does Winning the Lottery Make You Happy?","The famous 'miserable winners' study was tiny",{"stage":134,"step":38,"id":1131,"path":1132,"node":1133,"title":1134,"subtitle":1135,"topic":129,"track":130},"money-and-happiness","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fmoney-and-happiness",139,"Money and Happiness","More money helps, up to a point and beyond it",{"stage":134,"step":45,"id":1137,"path":1138,"node":1139,"title":1140,"subtitle":1141,"topic":1142,"track":130},"if-then-plans","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fif-then-plans",140,"If-Then Plans","Deciding the moment in advance makes goals stick","Goals",{"stage":134,"step":52,"id":1144,"path":1145,"node":1146,"title":1147,"subtitle":1148,"topic":1149,"track":130},"one-percent-better","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fone-percent-better",141,"One Percent Better","Tiny daily gains compound like interest","Habits",{"stage":134,"step":58,"id":1151,"path":1152,"node":1153,"title":1154,"subtitle":1155,"topic":1156,"track":130},"millionaires-mostly-inherited-it","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fmillionaires-mostly-inherited-it",142,"Millionaires Mostly Inherited It","Most US millionaires in a classic study built it themselves","Wealth",{"stage":134,"step":64,"id":1158,"path":1159,"node":1160,"title":1161,"subtitle":1162,"topic":1163,"track":130},"the-ant-and-the-grasshopper","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fthe-ant-and-the-grasshopper",143,"The Ant and the Grasshopper","Aesop's ant stores grain while the grasshopper sings all summer","Planning",{"stage":134,"step":70,"id":1165,"path":1166,"node":1167,"title":1168,"subtitle":1169,"topic":1170,"track":130},"comparison-is-a-thief","\u002Flearn\u002F16\u002Fmoney-and-happiness\u002Fcomparison-is-a-thief",144,"Comparison Is a Thief","Your neighbors' paychecks change how you feel about yours","Comparison",[1172],{"track":130,"count":70},{"zone":141,"title":1174,"path":1175,"tier":22,"theme":8,"lessons":1176,"topics":1235},"Gold & the Dollar","\u002Flearn\u002F17\u002Fgold-and-the-dollar",[1177,1184,1191,1197,1204,1210,1216,1222,1229],{"stage":141,"step":5,"id":1178,"path":1179,"node":1180,"title":1181,"subtitle":1182,"topic":1183,"track":28},"the-gold-standard","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fthe-gold-standard",145,"The Gold Standard","When every dollar could be swapped for gold","Monetary History",{"stage":141,"step":22,"id":1185,"path":1186,"node":1187,"title":1188,"subtitle":1189,"topic":1190,"track":28},"the-100-000-bill","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fthe-100-000-bill",146,"The $100,000 Bill","It exists, but you could never spend it","Currency",{"stage":141,"step":30,"id":1192,"path":1193,"node":1194,"title":1195,"subtitle":1196,"topic":1183,"track":28},"greenbacks-money-for-a-war","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fgreenbacks-money-for-a-war",147,"Greenbacks: Money for a War","The Civil War gave America paper money backed by law, not gold",{"stage":141,"step":38,"id":1198,"path":1199,"node":1200,"title":1201,"subtitle":1202,"topic":1203,"track":28},"the-dollar-is-backed-by-gold","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fthe-dollar-is-backed-by-gold",148,"The Dollar Is Backed by Gold","It hasn't been since 1971","Fiat Money",{"stage":141,"step":45,"id":1205,"path":1206,"node":1207,"title":1208,"subtitle":1209,"topic":19,"track":28},"who-makes-the-dollar","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fwho-makes-the-dollar",149,"Who Makes the Dollar","The Mint, the printing bureau and the Fed",{"stage":141,"step":52,"id":1211,"path":1212,"node":1213,"title":1214,"subtitle":1215,"topic":489,"track":28},"the-stone-that-sank","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fthe-stone-that-sank",150,"The Stone That Sank","On Yap, a giant stone coin lost at sea still counted as wealth, because everyone agreed it existed",{"stage":141,"step":58,"id":1217,"path":1218,"node":1219,"title":1220,"subtitle":1221,"topic":1190,"track":28},"dollar-bills-are-mostly-cotton","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fdollar-bills-are-mostly-cotton",151,"Dollar Bills Are Mostly Cotton","That's why they survive the washing machine",{"stage":141,"step":64,"id":1223,"path":1224,"node":1225,"title":1226,"subtitle":1227,"topic":1228,"track":28},"checks-cards-and-taps","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fchecks-cards-and-taps",152,"Checks, Cards and Taps","How Americans moved from paper to plastic to phones","Payments",{"stage":141,"step":70,"id":1230,"path":1231,"node":1232,"title":1233,"subtitle":1234,"topic":517,"track":130},"the-endowment-effect","\u002Flearn\u002F17\u002Fgold-and-the-dollar\u002Fthe-endowment-effect",153,"The Endowment Effect","Owning something makes it feel worth more",[1236,1237],{"track":28,"count":64},{"track":130,"count":5},{"zone":149,"title":1239,"path":1240,"tier":22,"theme":83,"lessons":1241,"topics":1304},"Pay & Benefits","\u002Flearn\u002F18\u002Fpay-and-benefits",[1242,1249,1256,1263,1269,1276,1283,1290,1297],{"stage":149,"step":5,"id":1243,"path":1244,"node":1245,"title":1246,"subtitle":1247,"topic":1248,"track":36},"your-total-compensation","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fyour-total-compensation",154,"Your Total Compensation","Your salary is only part of what a job pays","Compensation",{"stage":149,"step":22,"id":1250,"path":1251,"node":1252,"title":1253,"subtitle":1254,"topic":1255,"track":36},"the-employer-match","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fthe-employer-match",155,"The Employer Match","Money your employer adds when you save","Retirement Plans",{"stage":149,"step":30,"id":1257,"path":1258,"node":1259,"title":1260,"subtitle":1261,"topic":1262,"track":36},"a-dozen-jobs-in-a-lifetime","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fa-dozen-jobs-in-a-lifetime",156,"A Dozen Jobs in a Lifetime","The average American career has many chapters","Careers",{"stage":149,"step":38,"id":1264,"path":1265,"node":1266,"title":1267,"subtitle":1268,"topic":102,"track":36},"w-2-or-1099","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fw-2-or-1099",157,"W-2 or 1099","Employee or contractor changes your taxes",{"stage":149,"step":45,"id":1270,"path":1271,"node":1272,"title":1273,"subtitle":1274,"topic":1275,"track":36},"every-hour-over-40-pays-extra","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fevery-hour-over-40-pays-extra",158,"Every Hour Over 40 Pays Extra","Many salaried workers get no overtime at all","Labor Law",{"stage":149,"step":52,"id":1277,"path":1278,"node":1279,"title":1280,"subtitle":1281,"topic":1282,"track":36},"negotiating-your-pay","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fnegotiating-your-pay",159,"Negotiating Your Pay","The first number on the table shapes the result","Negotiation",{"stage":149,"step":58,"id":1284,"path":1285,"node":1286,"title":1287,"subtitle":1288,"topic":1289,"track":36},"what-a-raise-is-worth","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fwhat-a-raise-is-worth",160,"What a Raise Is Worth","A small raise compounds across a career","Earnings",{"stage":149,"step":64,"id":1291,"path":1292,"node":1293,"title":1294,"subtitle":1295,"topic":1296,"track":130},"the-sunk-cost-trap","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fthe-sunk-cost-trap",161,"The Sunk Cost Trap","Years already spent shouldn't decide the next ones","Decision Making",{"stage":149,"step":70,"id":1298,"path":1299,"node":1300,"title":1301,"subtitle":1302,"topic":1303,"track":36},"the-bobbin-boy","\u002Flearn\u002F18\u002Fpay-and-benefits\u002Fthe-bobbin-boy",162,"The Bobbin Boy","Andrew Carnegie started at $1.20 a week in a cotton mill, built a steel empire, and gave most of it away","Ambition",[1305,1306],{"track":36,"count":64},{"track":130,"count":5},{"zone":168,"title":1308,"path":1309,"tier":22,"theme":159,"lessons":1310,"topics":1372},"Starting a Business","\u002Flearn\u002F19\u002Fstarting-a-business",[1311,1318,1325,1332,1339,1346,1352,1358,1365],{"stage":168,"step":5,"id":1312,"path":1313,"node":1314,"title":1315,"subtitle":1316,"topic":1317,"track":171},"find-a-problem-people-pay-for","\u002Flearn\u002F19\u002Fstarting-a-business\u002Ffind-a-problem-people-pay-for",163,"Find a Problem People Pay For","Businesses sell solutions to real pain","Ideas",{"stage":168,"step":22,"id":1319,"path":1320,"node":1321,"title":1322,"subtitle":1323,"topic":1324,"track":171},"your-first-customer","\u002Flearn\u002F19\u002Fstarting-a-business\u002Fyour-first-customer",164,"Your First Customer","Sell it before you build it","Validation",{"stage":168,"step":30,"id":1326,"path":1327,"node":1328,"title":1329,"subtitle":1330,"topic":1331,"track":171},"post-it-notes-were-a-failed-glue","\u002Flearn\u002F19\u002Fstarting-a-business\u002Fpost-it-notes-were-a-failed-glue",165,"Post-it Notes Were a Failed Glue","A weak adhesive became a bestseller","Inventions",{"stage":168,"step":38,"id":1333,"path":1334,"node":1335,"title":1336,"subtitle":1337,"topic":1338,"track":171},"a-business-needs-employees","\u002Flearn\u002F19\u002Fstarting-a-business\u002Fa-business-needs-employees",166,"A Business Needs Employees","About four in five US businesses have none","Small Business",{"stage":168,"step":45,"id":1340,"path":1341,"node":1342,"title":1343,"subtitle":1344,"topic":1345,"track":171},"spanxs-5-000","\u002Flearn\u002F19\u002Fstarting-a-business\u002Fspanxs-5-000",167,"Spanx's $5,000","Sara Blakely sold fax machines door to door, cut the feet off her pantyhose, and built Spanx from $5,000 of savings","Starting",{"stage":168,"step":52,"id":1347,"path":1348,"node":1349,"title":1350,"subtitle":1351,"topic":259,"track":171},"cost-plus-or-value-pricing","\u002Flearn\u002F19\u002Fstarting-a-business\u002Fcost-plus-or-value-pricing",168,"Cost-Plus or Value Pricing","Charge for what it costs or for what it's worth",{"stage":168,"step":58,"id":1353,"path":1354,"node":1355,"title":1356,"subtitle":1357,"topic":198,"track":171},"how-many-customers-to-quit-your-job","\u002Flearn\u002F19\u002Fstarting-a-business\u002Fhow-many-customers-to-quit-your-job",169,"How Many Customers to Quit Your Job?","Your escape number in customers",{"stage":168,"step":64,"id":1359,"path":1360,"node":1361,"title":1362,"subtitle":1363,"topic":1364,"track":171},"bootstrapping-or-investors","\u002Flearn\u002F19\u002Fstarting-a-business\u002Fbootstrapping-or-investors",170,"Bootstrapping or Investors","Use your own money or sell a piece of the company","Funding",{"stage":168,"step":70,"id":1366,"path":1367,"node":1368,"title":1369,"subtitle":1370,"topic":1371,"track":130},"the-spotlight-effect","\u002Flearn\u002F19\u002Fstarting-a-business\u002Fthe-spotlight-effect",171,"The Spotlight Effect","People notice you far less than you think","Fear of Judgment",[1373,1374],{"track":171,"count":64},{"track":130,"count":5},{"zone":175,"title":1376,"path":1377,"tier":22,"theme":233,"lessons":1378,"topics":1436},"Lifestyle Creep","\u002Flearn\u002F20\u002Flifestyle-creep",[1379,1385,1391,1397,1403,1410,1416,1423,1429],{"stage":175,"step":5,"id":1380,"path":1381,"node":1382,"title":1383,"subtitle":1384,"topic":245,"track":246},"fixed-and-variable-costs-at-home","\u002Flearn\u002F20\u002Flifestyle-creep\u002Ffixed-and-variable-costs-at-home",172,"Fixed and Variable Costs at Home","The bills that never move and the ones you control",{"stage":175,"step":22,"id":1386,"path":1387,"node":1388,"title":1389,"subtitle":1390,"topic":259,"track":246},"the-decoy-price","\u002Flearn\u002F20\u002Flifestyle-creep\u002Fthe-decoy-price",173,"The Decoy Price","A useless option can make another look like a deal",{"stage":175,"step":30,"id":1392,"path":1393,"node":1394,"title":1376,"subtitle":1395,"topic":1396,"track":246},"lifestyle-creep","\u002Flearn\u002F20\u002Flifestyle-creep\u002Flifestyle-creep",174,"When spending rises to meet every raise","Spending",{"stage":175,"step":38,"id":1398,"path":1399,"node":1400,"title":1401,"subtitle":1402,"topic":245,"track":246},"sinking-funds","\u002Flearn\u002F20\u002Flifestyle-creep\u002Fsinking-funds",175,"Sinking Funds","Saving a little each month for bills you know are coming",{"stage":175,"step":45,"id":1404,"path":1405,"node":1406,"title":1407,"subtitle":1408,"topic":1409,"track":246},"a-new-car-is-an-investment","\u002Flearn\u002F20\u002Flifestyle-creep\u002Fa-new-car-is-an-investment",176,"A New Car Is an Investment","Most cars lose value fast","Cars",{"stage":175,"step":52,"id":1411,"path":1412,"node":1413,"title":1414,"subtitle":1415,"topic":1409,"track":246},"the-true-cost-of-a-car","\u002Flearn\u002F20\u002Flifestyle-creep\u002Fthe-true-cost-of-a-car",177,"The True Cost of a Car","Payment, insurance, gas, repairs and the value it loses",{"stage":175,"step":58,"id":1417,"path":1418,"node":1419,"title":1420,"subtitle":1421,"topic":1422,"track":246},"the-diderot-effect","\u002Flearn\u002F20\u002Flifestyle-creep\u002Fthe-diderot-effect",178,"The Diderot Effect","A philosopher's beautiful new robe made everything he owned look shabby, and the upgrades never stopped","Wanting",{"stage":175,"step":64,"id":1424,"path":1425,"node":1426,"title":1427,"subtitle":1428,"topic":517,"track":130},"the-ikea-effect","\u002Flearn\u002F20\u002Flifestyle-creep\u002Fthe-ikea-effect",179,"The IKEA Effect","We love what we build ourselves",{"stage":175,"step":70,"id":1430,"path":1431,"node":1432,"title":1433,"subtitle":1434,"topic":1435,"track":246},"the-30-day-pause","\u002Flearn\u002F20\u002Flifestyle-creep\u002Fthe-30-day-pause",180,"The 30-Day Pause","Waiting before a want shows if you still want it","Spending Habits",[1437,1438],{"track":246,"count":64},{"track":130,"count":5},{"stage":70,"step":38,"node":626,"id":624,"language":1440,"title":627,"subtitle":628,"topic":622,"track":608,"is_supernode":1441,"languages":1442,"hash":1448,"intro":1449,"num_slides":52,"num_questions":45,"minutes":30},"en",false,[1443,1444,1445,1446,1447],"de","es","es-419","fr","it","ac4973355ca219d3",{"icon":1450,"hook":1451,"discover":1452,"why":1456},"dice.fill","A coin flip pays you $3 on heads and costs you $1 on tails. Would you play? One quick multiplication knows the answer.",[1453,1454,1455],"The one formula behind every bet","The letters that started it in 1654","A game worth infinite dollars","Insurance, warranties, lotteries and job offers are all bets. Expected value shows what each is worth on average."]