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Women’s sports continue to thrive. Record-breaking WNBA viewership, a flood of new brand investment, and now Unrivaled: the women’s basketball league built by players, for players. Commissioner Micky Lawler pulls back the curtain on what it really takes to launch a high-stakes sports startup in the full glare of the public eye. The question is no longer whether women’s sports can compete. It’s how fast they can grow. This is an abridged transcript of an interview from Rapid Response, hosted by the former editor-in-chief of Fast Company Bob Safian. From the team behind the Masters of Scalepodcast, Rapid Responsefeatures candid conversations with todays top business leaders navigating real-time challenges. Subscribe to Rapid Responsewherever you get your podcasts to ensure you never miss an episode. I first came upon Unrivaled last year around this time. I’m a basketball fan, but other 3-on-3 leagues didn’t really connect for me. But Unrivaled, it grabbed my attention right away. The format, the players, the model of playing in one location in Miami, adopting what the WNBA did during the pandemic bubble, it’s fun. You felt what I felt when I first heard about it. I loved it from the start. I could see it, I could feel it. And what’s not to like about the name, Unrivaled? And the timing for the league when it came out was great. It was just as the Caitlin Clark mania was surging, although I know Caitlin hasn’t competed on Unrivaled. But women’s leagues overall were accelerating, the WNBA, the NWSL. How much did that timing matter for you? Look, I’ve spent a lifetime working in professional sports, and in particular in tennis, most of it in women’s tennis, and so I could see the momentum. And sometimes the world has a way of working in mysterious ways, because the timing was also perfect for me, having just retired from the WTA. Were you into basketball before this? I mean, your life was obviously tennis, so that was where your time and your energy was focused. When you work in sports, it’s your microcosm, so I was very familiar with the opportunity of women’s basketball, and I always loved it. When my kids played sports, basketball was my favorite season because it’s so much fun to watch. And I did play in high school, very badly, so basketball was not entirely foreign to me, but it’s like you lived in San Francisco and now you’re moving to New York. It’s the same country, but it’s two very different cities. Does that make sense? Yeah. Part of Unrivaled’s appeal for the players is financial. WNBA salaries remain modest. Players generally have to look for other paying gigs in the off-season. It’s why Brittney Griner went to Russia. You’re offering sort of an alternative to going overseas. Your salary pool isn’t enormous, but there are other benefits, including equity. This is part of the selling point to the players is the financial opportunity, and I guess the vibe in Florida where Unrivaled happens. As a professional athlete, when you are competing six months of the year, you need to have another source of competition. Income, yes, but also competition. You need to stay sharp, you need to stay in shape, you need to keep working on your craft, on your game. So both Breanna and Napheesa are mothers, and for them it was increasingly difficult to go overseas for three months, and also for their own brand exposure in the market. So we looked at this as a way to really build the entire ecosystem of women’s basketball and support what clearly is a very interesting league, which is the WNBA. SAFIAN: Yeah. You’re separate from the WNBA, right? LAWLER: Yes. Yes. But as you say, you travel in these concentric circles with players and media partners and sponsors. How do you approach that relationship? Well, we have 54 WNBA players here in-house, so our approach is to really deepen the focus on players, getting them into the public eye. And so, we hope that this is all very, very positive and good for the environment in which the WNBA operates. So the relationship is complimentary. You’re deep into Unrivaled’s second season. The playoffs start February 28th, the end of the month. The business of the league keeps evolving. More sponsors, more facilities, more teams. You added the 1-on-1 tournament mid-season, took the league on the road to Philadelphia, and the semi-finals will be right near me at the Barclays Center in Brooklyn. This sort of business roadmap, how does it compare to your efforts growing the WTA? How much do you look at and focus on, what’s the lowest hanging fruit, what’s easiest to get versus long shot plans? At the WTA, you have a structure where owners, tournaments, and players sit on the same board. There’s a 50/50 ownership. The players, they’re not contracted by the WTA, so they are self-employed and they have their own commercial rights. So the tour has to try to elevate the whole thing with limited assets, getting to a point that perfects the pressure on the players, not overstressing them, but you also have to answer to players number one to 250. And the number one is going to play many more matches. But in any case, it’s a lot to juggle. Over here you’ve got a clean slate and you’re giving players real equity from the start. So the players were very, very fast to understand that the more Unrivaled grew, the better for them from every angle. The more that they could participate in telling brand stories, the more their own story would be relevant. So it’s completely different because you don’t have to argue about the value of social media like we did with the WTA many years ago. We need to change the media requirements from a post-match interview to giving some time to the social side. In tennis, that took a long time. Here it’s front and center. They want to be doing it. They understand the holistic side to the business, that it’s not just about being a phenomenal basketball player. You have to be good at social. You have to serve the press, serve all your fans, create an environment that is community. If I had any doubt that this was going to work, well, that was quickly gone because of the intensity of the fans and the intimacy. Sephora Arena is a place where you come to be very happy and entertained, and you see just stellar performances. The players are aware that it’s a start-up, but they’re also aware that everything goes to serve them. We are highly, highly focused on making sure that they have everything that they need. Having two player founders in Breanna and Napheesa, we know they need a glam room. They need, of course, a weight room. They need training, and a very good training room and a training team. The best childcare. Saunas. Infrared for inflammation and recovery. I can’t do it justice. I loved the 1-on-1 tournament that happened. Yeah. When you go to the players and you say, “Hey, what about doing a 1-on-1 tournament?” Are they like, “Oh, that’s great. We play 1-on-1 against each other all the time,” or are they like, ̴Oh, I don’t know. It’s more work for me”? Both. You have the players that shy away from it a little bit, but once they play, they’re all-in. And it is, again, the crowd was so into it. The men talk about it, how much they would love it, and so we did it. And these women, they leave no stone unturned. They fight. Well, that was part of what I loved about it. They looked exhausted. You could physically see they’re not dogging this. Sometimes in an all-star game, you can tell the players are a little sort of they’re in it. Totally in. Personally, in year one I thought, “Oh my gosh, this is starting to look like a tennis tournament. Is this the right place?” But it has been a big success. Players love it.
Category:
E-Commerce
Some bad news for all the mutual fund managers out there: A new study from researchers at Harvard Business School seems to support the fear that artificial intelligence and machine learning could do their jobs. But here’s the catchwith only about 71% accuracy, depending on how predictable their trades are. The working paper Mimicking Finance from Lauren Cohen, Yiwen Lu, and Quoc H. Nguyen, published this month by the National Bureau of Economic Research, finds “that 71% of mutual fund managers trade directions can be predicted in the absence of the agent making a single trade.” The paper goes on to say, For some managers, this increases to nearly all of their trades in a given quarter. Further, we find that manager behavior is more predictable and replicable for managers who have a longer history of trading and are in less competitive categories.” What does that mean? Basically, that the trades of more senior managers, especially those who are in less competitive areas, are easier to mimic (and thereby, those jobs might be easier to replace with AI). The findings are based on data the researchers analyzed from 1990 to 2023 that took into account the size of the fund, the broader economic indicators, and investor flows. Perhaps what’s most alarming for mutual fund managers, though, is the paper’s conclusion: “For some managers,” AI predicted “nearly all of their trades in a given quarter”which is the equivalent of a mic drop. However, there are a few big caveats. The paper finds that the larger the ownership stake of the manager in the fund, the less predictable their behavior. It also found less predictable managers strongly outperform their peers, while the most predictable managers significantly underperform. Even within each manager’s portfolio, the research shows “those stock positions that are more difficult to predict strongly outperform those that are easier to predict” (a bright spot for fund managers who want to keep their jobs). The study is significant because it explores which tasks could be automated using AI, and how that could affect jobs in the financial sector. It estimates the U.S. asset management industry to be worth about $54 trillion.
Category:
E-Commerce
Early drivers steered cars by pushing a lever left and right. That was fine at slow speeds, but disastrous when you accelerated. It took years before the steering wheel arrived. Granola CEO Chris Pedregal says AI interfaces are still in the lever era. Pedregal, who in 2019 sold the edtech startup Socratic to Google, says were just beginning to figure out how humans should interact with AI. Three years after the launch of ChatGPT, people still associate AI with typing into a chat box. Granola is betting on a new approach to AI-enhanced note-taking. The London-based startup doesnt record audio or video or send bots into your meetings. Instead, its tool sits on your computer or phone, transcribing in real time while you maintain control. Chris Pedregal [Photo: Granola] You can jot notes alongside its transcription, building a personal knowledge base instead of a raw archive of recordings. The viral spread of its tool helped the company raise $43 million last year, bringing its total funding to $67 million at a valuation of $250 million. Its also grown from a team of 4 to 35. Fast Company spoke with Pedregal about the steering wheel moment still ahead for AI interfaces and the surprising ways people are using Granola to take notes on everything from therapy to vet visits. The conversation has been edited for length and clarity. Youve described Granola as a steering wheel for large language models. What do you mean by that? I think its very, very early days in this new wave of AI, particularly on the user interface interaction side of things. The technology developed very quickly, but it takes human time to figure out the right interaction patterns. I looked it upit was over three years from when the iPhone came out to when Instagram launched. I think we’re in that time period right now. People might be like, ChatGPT has been out for three years, and we’re still just dealing with chatbots. Is that the end of it? I think it’s just early days. Early cars were driven with a lever, literally a stick that you’d move left and right to steer. It was fine if youre going slowly, but the moment you started going quickly, it was easy to go off the road. It took quite a while for them to develop the steering wheel. Once they figured out the steering wheel, it became very natural and it stuck. AI interfaces are still in their lever era. Granola deliberately doesn’t record audio. Why make that choice when competitors do? Granola doesnt record audio by design, which is probably annoying if you ever try to use Granola for interviews. But it makes it less invasive for work conversations, because really what you want are the notes. The goal is not to have an audio recording. The way I think about it is: What’s the minimum amount of invasiveness for the most value? That’s how you have to thread the needle. AI is here, we’re all going to be using tools like this in the future because they’re so useful. But what are the norms? What’s the thoughtful, ethical design of these tools so that we maximize the gains for the cost? How is Granola different from Otter, Fathom, and other meeting notetakers? It all really comes down to this: Granola feels like a tool that lets you be your best self in meetings. The operative word there is tool, and that means you control it. You can write your own notes. When the AI generates notes, you can edit them. The AI is subservient, augmenting your abilities. Its your personal place where you have all this information. I think a lot of the other toolsOtter is like 9 years old at this pointare really about meeting capture, meeting recording. You log in and heres all your meeting recordings. Thats useful, but it feels very different than when you open Granola. Its like, heres my personal context where I can ask questions. It’s not really about the meetings. It’s about the notes, the knowledge inside of it. As we look towards the future, Granola and those other tools are going to look more and more different. I see Granola as being much more of a contextual workspace where Granola has all this helpful context about you. Now if I need to go write an article or a blog post, or institute some process changes inside the company, I will go into Granola and write that first draft because it has all that context. I can’t imagine doing that in Otter or Firefliesit just doesn’t feel like the right place for it. You’ve found that mixing work and personal contexts in Granola is actually more useful. Why? Right now, I use Granola for all my work meetings, therapy sessions, and logistics conversations about my life. If you had sat me down two years ago and asked if that’s really useful, I would have said noI want those things separate. It turns out when you’re asking Granola questions, it having a 360-degree view of different things that are going on in your life is very useful. When you’re making decisions, you’re weighing all those constraints and prioritiesnot just the ones tied to this specific project at work. I was just at the vet this morning, and I used Granola because it’s my mom’s cat and I’m not going to remember exactly what the vet says. Moments like going to the doctor, parent-teacher conferences, talking to a construction worker or plumberany situation where there’s sometimes technical language that’s really important to get right, that you’re not familiar withare incredibly valuable to capture accurately. Theres a different question around data ownership. I dont necessarily want my company to have my therapy notes. But as models get better, the AI having access to the right context makes all the difference in terms of the quality of the response. What’s appropriate etiquette around recording conversations with Granola? I think right now, the etiquette is simple: Ask. I imagine that the norms around this will change quickly, but it will remain very situation-dependent. Inside our company, its expected that meetings are Granola’d unless someone asks not to be. But in social environments the norms will be very different. Ive tried some of these pendants that record everything, and the idea of wearing those at a party just makes me feel a bit icky. I also think the video conference providers will adapt and make it easy to show meeting participants that you are using something like Granola, so ou won’t have to think about it. I think it really comes down to the social nuances of the situation. I usually frame it simply: Talk about it in terms of notes and transcription. Is it okay if I take notes? This thing will transcribe so I don’t forget the important stuff you say. That’s basically what I say. What’s been your biggest mistake as you’ve grown Granola? The biggest mistake I’ve made so far was that we didn’t grow the team fast enough. We had product-market fit in a fast-moving space, and I didn’t recognize that early enough. By the time I did, we were drowning in user tickets, requests for billingall the kinds of stuff that happens when you grow. There were only four of us on the team when we launched the product. I was trying to use my playbook from my last startupkeep the team super small, grow slow and steady. [I realized] that’s great, Chris, but actually the world wants this and you have to respond. I thought growing quickly meant sacrificing how thoughtful we could be about product, and I wasn’t reactive enough. We’re 35 people now, and most of that has happened in the last couple of months. What are some surprising ways people are using Granola? All the personal stuff was surprising at firsttherapy, vet visits, parent-teacher conferences. Then there were these founders early on who used Granola as their collective brain. They logged in with the same account and would record every conversation they had because they were early in their startupevery brainstorm, every argument. It became a single shared memory between the two of them. One user followed this famous sales methodology where every conversation falls into one of 14 buckets. He created very specific templates for each bucket, and at the end of the meeting he’d select the right one. Granola would basically spit out all the next steps to win that deal based on that framework. He encoded his entire sales process into itsuper intricate. I didn’t see that coming.
Category:
E-Commerce
Ten years ago, I ended a meeting at WeWork with an offer to grab a free beer on tap. Last week, I ended it with a similar offer, except this time the beverage on offer was kombucha. The seemingly innocuous shift is symbolic of a bigger evolution underway at the coworking giant: less coolness, more functionality. WeWork is growing up, and its newest location in downtown Manhattan is the most visible proof yet: 250 Broadway, which opened in January, is WeWork’s first outpost in the city since 2019the year WeWork abandoned its initial public offering and ousted cofounder Adam Neumann as CEO. The space adds 60,000 square feet to the company’s New York portfolio, which already exceeds 3 million square feet. And it’s yet another outpost in a global network that now spans 600 locations worldwide. Except this isn’t WeWork as you might remember it: There are no neon signs, no beer o’clock, and no ping-pong tables. Instead, the walls are hung with paintings sourced through ArtLifting, an art consultancy that works with artists living with homelessness or disabilities. The bar is stocked with kombucha and espresso machines. And the once-labyrinthine corridors you could navigate only by asking for directions are now marked with pristine wayfinding signs. This is WeWork 2.0, and its already a hit: 250 Broadway is 94% occupied across five floorsincluding one that wont open until spring. [Photo: WeWork] The rise and fall (and rise again) of WeWork WeWork’s story is by now a familiar parable of Silicon Valley excess. Founded in 2010 by Neumann and Miguel McKelvey, the company spent a decade expanding on billions from SoftBank’s Vision Funda Saudi-backed mega-fund that poured tens of billions into high-growth tech startups like WeWorkalong with a cultish faith in Neumann’s vision of community as business model. Then came the botched IPO in 2019, a belated stock market debut that failed to turn the tide, and, in November 2023, a Chapter 11 bankruptcy filing. By the time WeWork reemerged in June 2024, it had shed roughly $4 billion in debt, closed hundreds of locations, and installed global commercial real estate firm Cushman & Wakefield veteran John Santora as its new CEO. [Photo: WeWork] WeWork 2.0: From cool to functional The seeds for WeWork 2.0 were sown in 2019, but according to its chief design officer, Ebbie Wisecarver, the company hadnt reset its design values until last year. Today the goal is for WeWork locations to feel familiar and engaging. But where previous locations stuck to a recognizable WeWork brand (think: industrial loft meets Brooklyn coffee shop), new locations are designed to feel timeless rather than trendy. “WeWork’s culture and what it stands for has evolved,” Wisecarver told me during a tour of 250 Broadway. “I don’t think it’s diminished this idea of community and connection, I just think we’ve adapted in a lot of ways to providing more spaces that are more suitable for what people are doing there.” Before 2019, every location had to conform to a prescribed aesthetic, “and I think that actually restricted some locations from really being what they could be,” she said. Now the design team isn’t afraid to go slightly off-brand if the building calls for it. At 250 Broadway, the team drew from the history of Lower Manhattan itself. The iconic Woolworth Buildingvisible from nearly every office windowis echoed in the spaces stone tile floors and its art deco-style reeded glass dividers. The sconces lighting up the lounge area were sourced from Brooklyn-based lighting design studio In Common With, while much of the furniture was made by New Jersey millwork firm Bestmark. The upgrades, however, go deeper than aesthetics. Private offices, once outfitted with wooden floors that members complained amplified noise, are now carpeted. The mothers’ roomhistorically a corporate afterthoughthas been given a window with a view of Manhattan. Even the phone booths, supplied by office design company Room, have been rethought and positioned in clusters near lounge areas rather than scattered across the floor. According to Wisecarver, that was a direct response to members asking for quiet spaces adjacent to communal ones. [Photo: WeWork] A flexible workspace for the post-COVID era The 250 Broadway location came about in part by necessity: WeWork’s lease next door, at 222 Broadway, was expiring as the building converted to residential. But the timing of what WeWork has built there speaks to something bigger than a single office move. Since the pandemic, the way we work has fundamentally changedperhaps permanently. The old WeWork, with its beer taps and open-plan optimism, was a result of working styles before COVID-19. Now hybrid schedules have made flexibility a basline expectation rather than a perk. Workers want spaces that are quiet when they need focus and communal when they need connectionsometimes within the same hour. WeWork’s new design strategy is a response to that shift. Today WeWork’s numbers suggest the office isn’t as dead as some proclaimed it would be. Across New York City, WeWork’s occupancy sits at 82%, with Midtown running at 90%. Globally, the company has climbed from 70% to 77% occupancy and is targeting 80% this year. Several markets are already well past that threshold: Dublin’s One Central Plaza is at 100%, Barcelona and Milan are both north of 90%, and Toronto has jumped from 73% to 85%. (San Francisco sits at 76%, up from 64%). The problem is, while WeWork once revolutionized coworking, competition has never been stiffer. Industrious, acquired by CBRE for $400 million in early 2025, has built a premium alternative that competes directly for enterprise clients. IWG, the parent company of Regus and Spaces, has long been profitable where WeWork was not. And in WeWork’s own backyard in New York City’s financial district, WSA has bet that blending coworking with arts programming and cultural events is the next frontier of flexible work. Which may be exactly why 250 Broadway feels more like a thesis statement. This summer, WeWork is opening a new location at 245 Fifth Avenue in Manhattan’s NoMad neighborhood. A new floor is being added to its 1 University Avenue location in Toronto. Upgraded offices are also coming to 1201 Wilson in Washington, D.C. Underpinning all of it is a commitment to reinvest roughly $80 million annually in modernizing its portfolioa figure the company spent in 2025 and is repeating again in 2026. Only time will tell if the thesis will prove out across these future locations.
Category:
E-Commerce
Through the end of the 2010s, people were a companys infrastructure. Large workforces provided the scaffold upon which a business could build capacity for complexity: hire more people, take on more work. Artificial intelligence has upended this relationship, decoupling a companys potential productivity from its headcount and redefining which businesses will fare best. As a result, Americas mid-sized companies are disappearing: the number of businesses with between 250 and 499 employees has fallen by 22.5% since 2020. Meanwhile, the independent professional economy is quickly growing to take their place: 30.4 million U.S. solopreneurs (businesses with a single employee) now collectively generate over $1.75 trillion in output, rivaling that of larger firms. As mid-size companies dwindle, their economic role will be replaced by individuals using AI as their infrastructure. The next five years will see the rise of an entirely new model of work, one in which savvy service professionalsfrom lawyers to plumberswill operate at a scale previously possible only for mid-sized or even larger companies. EXPANDING SOLO WORK When surveyed, entrepreneurs note that they spend 36% of their working hours on administrative tasks, leaving little capacity to think about business growth or transformation. Single process automations have historically helped to free up some of this brain space, but AI does this on an entirely different level. Pearls proprietary research shows 50% of white-collar workers believe AI could handle over half of their job responsibilities in the next five years. For a new crop of solopreneurs, AI will completely assume their burdensome administrative work. But AI wont be just another force multiplier akin to digitizing invoices in QuickBooks or tracking a customers status in Salesforce. For solopreneurs, AI will add entirely new forces, equipping them with super agents to expand their business to the heft of a mid-sized firm while leaving them room to focus on mastering their craft. Middle-sized companies used to occupy a protected niche, gathering trusted groups of professionals to offer formalized work too specialized for large enterprises and too complicated for solo workers. Now, a solopreneur can harness the power of a 250-person firm, not by replacing hundreds of employees but by using AI to replicate the coordination that previously made this size staff necessary. THE DIGITAL WORKFORCE Solopreneurs will match the quantity and quality of work of a mid-sized business by assembling a digital workforce to coordinate across five distinct categories: Sales and Marketing The solopreneur already has a distinct advantage over mid-size companies in acquiring customers: their singular voice. AI helps them extend this voice to find new leads far beyond their network and maintain sales relationships at a capacity far higher than what one person can manage alone. Businesses are currently using AI to make faster marketing decisions and even automate entire workflows, such as sending tailored emails to capture a potential customer who has abandoned their cart and tracking the results. Future sales and marketing will hand off even more of the strategic work to AI, allowing it to lead entire accounts, negotiate pricing, and derive new messaging based on real-time customer signals, all to extend a professionals personal reach. Research For client work already secured, solopreneurs are using tools like Perplexitys Deep Research to create expert-level briefs in minutes, earning the company an $18 billion valuation from investors betting on AI-driven knowledge work. From synthesizing multiple earnings call transcripts to surfacing the latest news on competitors and novel techniques, AI is giving sole proprietors access to an exponentially wider breadth of knowledge and eliminating the fluff so they can absorb only the most consequential information. As AI matures, it will help solopreneurs continually update a research memory bank, question initial output for factuality, and flag missing data. Execution For a legal issue, for example, customers would rather avoid paying for the overhead of a large firm and work solely with the most experienced lawyer. AIs execution power finally enables this, connecting trusted experts directly with customers. The most advanced sole proprietors today compete with mid-size companies by running multiple specialized agents, automating workplace tasks like drafting informed email responses, summarizing meetings through different expert lenses, and preparing tailored reports. Already, U.K. civil servants have reported that they save an average of two weeks per year with similar AI automations. In the next five years, AI will evolve from requiring explicit instructions to only needing intent. Instead of requesting email drafts for review, a solo lawyer might ask AI to keep a client warm or move this deal forward and let an agent do the rest. Humans will still play the most important role, consulting on nonnegotiable accuracy checks and strategy decisions. Compliance Though famously unsexy, compliance is essential to company growth and what keeps many smaller firms from venturing outside their core pursuits. With AI anticipating compliance issues, solopreneurs can more quickly expand into new areas of business, rivaling larger firms whose governance teams protect them in these pivots. AI compliance platforms already track and map relevant changing regulations, allowing solopreneurs to keep up with shifting legal obligations without a large compliance team. What will come next is AI-generated audit trails and compliance assessments for real-time operations, shifting the work of keeping a company in line completely into the background. Management Coordinating an entire infrastructure of autonomous agents will be essential to scaling a business with only one human employee. The startup period will likely be much more extensive than for a human-staffed company, with the solopreneur needing to define a vision fo the business and reiterate it to management agents to get processes right. When management agents are finally aligned with the company leader, theyll be able to predictively schedule subordinate agents, balance workloads, and uplevel important considerations before they turn into problems. Today, an AI agent can launch tens of others to complete a complex process. Tomorrow, a network of management agents will continuously reprioritize work to meet the solopreneurs long-term goals. SCRAMBLING THE PROFESSIONAL FIELD Rather than a distant vision, the multi-million-dollar solo business is already here. In just six months, Maor Shlomo alone built vibe coding platform Base44. He garnered tens of thousands of customers and sold it to Wix for $80 million. Meanwhile, 50% of global freelancers are already earning more on projects when they use AI tools. 62% of GenZers are interested in starting their own business so America can expect a continuing increase in sole-proprietor firms from the next generation of knowledge workers. However, not every professional will be equipped to immediately become a solopreneur. They will still need training grounds like enterprises, continuing education programs, and peer mentorship to hone the expertise necessary to justify staking out on their own. What AI has changed is that anyone in the professional sphere can now go solo, they just have to choose the right moment in their career. Even as more Americans consult AI for advice, they will continue to seek out human experts for the best service. Increasingly, however, these professionals will be powered by AI infrastructures complex enough to rival mid-sized firms.
Category:
E-Commerce
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