# How the Top 1% of Entrepreneurs Lead Their Businesses to Success

## Метаданные

- **Канал:** Gary Vaynerchuk
- **YouTube:** https://www.youtube.com/watch?v=DeBY1xi0Tis
- **Дата:** 11.11.2020
- **Длительность:** 30:48
- **Просмотры:** 85,357

## Описание

So many business owners, CEOs, entrepreneurs, and business leaders are not prioritizing important parts of their business and are over-focused on the short term metrics. In this episode of the "GaryVee Audio Experience", Gary sits down with David Rubenstein to take a deep dive into the world of leaders in business. They talk about the qualities of good leaders, what excellent leaders prioritize in a business that differs from other operators, the danger of overvaluing short-term metrics, and more. If you like this video be sure to hit the like button and subscribe to see more content like this... Enjoy!

David M. Rubenstein—author of The American Story, the visionary co-founder of The Carlyle Group, and host of Bloomberg TV’s The David Rubenstein Show—has long been fascinated with leadership.
What makes a great leader? Are leaders born or are they made? Does extraordinary leadership arise from personality, mental or physical skills, or the simple good fortune of being in the right place at the right time?
For the past five years, Rubenstein has conducted behind-the-scenes conversations with some of the highest performing leaders from the worlds of finance, tech, entertainment, sports, and government. Now, these conversations are distilled into an essential leadership playbook for our times: HOW TO LEAD: Wisdom from the World’s Greatest CEOs, Founders, and Game Changers. 

Here’s the link to checkout Rubenstein’s new book: https://www.amazon.com/How-Lead-Greatest-Founders-Changers/dp/1982132159/
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Gary Vaynerchuk is a serial entrepreneur and the Chairman of VaynerX, a modern day communications parent company, as well as the CEO and Co-Founder of VaynerMedia, a full-service digital agency servicing Fortune 500 clients across the company’s 4 locations.
Gary is a venture capitalist, 5-time New York Times bestselling author, and an early investor in companies such as Twitter, Tumblr, Venmo and Uber. He is currently the subject of WeeklyVee, an online documentary series highlighting what it’s like to be a CEO and public figure in today’s digital world. He is also the host of #AskGaryVee, a business and advice Q&A show online.
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## Содержание

### [0:00](https://www.youtube.com/watch?v=DeBY1xi0Tis) Segment 1 (00:00 - 05:00)

the cliche question when someone writes a book like this what was the one trait that you saw across the board of all these leaders was there anything that stood out yes um the great leaders they're really great leaders are people that recognize they had luck because they had failed at something they overcame it and as a result they really you got your perspective i just want to be happy don't you hey everybody it's gary vaynerchuk super excited to do a interview uh on the podcast as a lot of you know uh pretty infrequent these days given the global situation but leadership is something that i uh am very passionate about and my uh esteemed guest here david rubenstein who i'm gonna let introduce himself and create uh some context for you both about his co-founding of the iconic carlisle group but also the uh the book that he's uh written uh and i think we're gonna get into a fun conversation so david welcome to the show my pleasure to be here thank you my friend why don't you give the vaynernation the audience here a little context of uh your professional career and then we'll uh maybe i'll bounce around ask a couple questions and then we'll go into the book hey i was trained as a lawyer uh wasn't that good at that so i got out of that went to work at the white house where president carter wasn't that good at that so i got i went back to practice law that didn't work out so well either again so i ultimately started a firm called the carlyle group which became a large private equity firm and i ran that for some 30 years or so and now i am the largest shareholder of it and the co-executive chair but i spent a fair amount of my time on philanthropy i was a original signer of the giving pledge that bill gates and warren buffett put together and i now am involved in essentially giving away my money i spent spend a lot of time on nonprofits i am the chairman of the kennedy center in washington i've been the chairman of the smithsonian institution i'm the chairman of the council on foreign relations i was the chairman of my alma mater duke university i now spend a lot of time on university boards i'm on the harvard corporation the university of chicago and johns hopkins medicine and i now also uh have a television show on bloomberg uh called peer-to-peer conversations and that led to a book that i did on leadership where i took people like bill gates jeff bezos warren buffett colin powell david petraeus and so forth and asked them what it was that led them to be leaders and i distilled that in a book called how to lead which is now out and on the new york times business bestseller list so that's what i've been doing david going back to your youth do you think you went into law uh because that was a good thing to do according to your parents or society you know what made you go down that path well my parents were not college or high school graduates so they didn't really have a lot of uh influence on what i would do because they didn't have experience in that but if you were jewish as i was and am probably your parents would say why don't you be a doctor or a lawyer or a dentist so i think that was very good in the sciences i was afraid i'd get arthritis in my fingers if i became a doctor so i said i would be a lawyer and i was probably better at talking than i was at uh things that would take me into the medical world so i became a lawyer but i also thought that lawyers went into politics was something i was interested in my real goal was to work in the white house for a president and um ultimately i did that i didn't have any interest in making money i didn't care about it i grew up relatively without any money and so you didn't have any money you didn't think about it when i was growing up there were no billionaires in the united states and it wasn't something people aspire to be david when you how old were you when you were invited to be part of the carter white house i was 27 years old uh well to uh much too young i was only three years out of law school but i became the deputy domestic policy adviser to the president united states so when you're three years out of law school and at that age you're going around on air force one and marine one and camp david you know you can think you're pretty good and people tell me i was very smart and brilliant and all that then when i looked for a job after we lost the to ronald reagan in 1980 nobody wanted to hire me because they didn't want to have a carter white house aid then so i had to spend a couple months trying to find a job and i didn't want to tell my mother i was unemployable so i just tell her i had so many offers i didn't know which one to take crippled by opportunity right absolutely so many chances to take the job i couldn't decide and at 27 when you got the word that you in essence based on what i'm hearing from you achieved a goal of your youth was it anti-climactic was it remarkable was it 15 minutes of jubilation and then fear like how did that moment you know i think a lot of people listening right now will end up achieving i'm always

### [5:00](https://www.youtube.com/watch?v=DeBY1xi0Tis&t=300s) Segment 2 (05:00 - 10:00)

fascinated by goal setting you know people go in very different directions and some people find themselves achieving certain goals or the goal early on how did that one play in your mind well i was a junior white house aide the deputy domestic policy advisor i thought carter would be re-elected and i would be the senior domestic advisor and then after that for four years i would go out practice law come back as a cabinet officer and eventually worked my way up to be a senior uh important government official i didn't care about money so much so that wasn't a big factor uh unfortunately we ran against a man named ronald reagan in 1980 and i said how can a man that old get out of bed in the morning he's 69 years old today he's too young to run for president um and of course i'm now 71 so 69 looks like a teenager to me but we didn't think we could possibly uh lose to him and that's what happens when you get filled with um i would say uh cognitive dissonance when you work in the white house people tell you how great you are and you don't listen to any bad news because you think people don't really know what they're talking about when they write something bad about you and that's maybe what we've seen in other white houses today at the white house and the current white house i suspect most people think that the president's going to win because they just think he's wonderful i suspect and uh and as a result they are probably going to be surprised i guess i mean do you like you know being in business and the cup being the iconic private equity firm that you co-founded uh obviously took in many many businesses many of which at one point or another um were extremely good businesses which you know either led to the exact reason that it you know you went out and acquired or the reverse you know were great but then you know do you feel do you feel the delusion that probably happens in every white house republican and democrat over the last hundreds of years is a similarity to what you see in businesses where businesses oftentimes get so cocky at the executive level they're misunderstanding what's happening at the consumer level and that ultimately leads to their demise well the president of the united states and the people who work in the white house are not unlike chief executives people tend to tell them what they want that they expect they want to hear so they don't hear the bad news secondly when they read about bad news or they hear about it they think if only the people knew as much as i know they wouldn't say these bad things about us and eventually they'll figure out that actually i know more than them but it doesn't really always work out that way so in the business world when you buy a company on day one it always looks perfect or you wouldn't be buying it but then eventually you realize you may have made a mistake the world went when it went against your thoughts about where it was going and when the time comes to make a change in the ceo you typically waited too long because you didn't believe things could be as bad as they turned out to be and the buyout world probably 50 of the time you have to replace the ceo who you once thought was wonderful and it just works out that way and sometimes you can't anticipate things for example let's suppose you were an investor in amc or marriott or carnival cruise lines um you would say these are great businesses they're booming and then the pandemic comes along well who do you blame well you don't blame yourself usually you blame somebody else i mean at that level david i'm sure you know i'd love to get your perspective that's why you're here that's one of the true rare occurrences where it's so macro so unbelievably macro that become that that's one of those rare moments because i think accountability is everything but those that is one of the true rare moments where you can chalk up a macro circumstance or no well you can you don't blame yourself as much for it uh you tend to have a tendency to say well that's somebody else made that mistake i'm just going to try to make the best i can of it but there are sometimes you make mistakes you hire the ceo and then you find out later he's a good time ceo and the economy slows down he's not a bad time ceo yeah i think a ton about wartime and peacetime generals i think when you look at some of the great ceos she or he um get very exposed in things like the great recessions or times like this well as it is said uh frequently generals fight the last war so if you're very good at fighting world war ii you may not be so good at fighting korean war or the vietnam war or you're very good in iraq you may not be so good in afghanistan so it just tends to be a situation where you tend to know what you know and you don't change very much the great ceos and the great generals are ones that have vision about what's likely to happen in the future not what happened in the past and they respond to that and you see that for example take the civil war david i apologize for interrupting i have a very interesting question because i'm passionate about this subject all right do you believe that fortune 5000 i'm going to categorize that way ceos almost consistently are in a place of such scrutiny now with 24-hour media news cycles every 90 days accountability quarter a quarter that i i've been as you know i grew up in entrepreneur land i became an early investor in facebook

### [10:00](https://www.youtube.com/watch?v=DeBY1xi0Tis&t=600s) Segment 3 (10:00 - 15:00)

and twitter and tumblr and kind of rode that wave and then i decided that i wanted to build the greatest communications infrastructure ironically um bleeds a little bit into your world i became very aware of 3g and i said you know i'm going to build the reverse of 3g i'm building currently i'm building a communications marketing media company strictly to get into private equity because i believe that most private equity firms in the world are good at finding efficiencies when they buy a company and what i want to do is create hyper consumer growth around brands that i think have the potential to be reformulated into contemporary channels and during that period of education over the last 11 years working with some of the biggest companies in the world the ceos the cmos board members and spending a lot of time with activist investors pe executives hedge fund vcs i am fascinated by this stunning high percentage that do no anticipation for actual consumer behavior live in excel sheets are math based on the back end and are completely 90 day driven because they care about their own selfish short-term rois which ultimately come to the demise of the business thoughts well obviously when jeff bezos was building his company and he took it public people made fun of him in the analyst world because they said you don't care about earnings you have no earnings and every quarter he would have more revenue but they say there's no earnings and he would laugh at them behind their back because he knew he was building a great brand and at the end he had the last laugh so the great entrepreneurs steve jobs bill gates jeff bezos mark zuckerberg they don't worry about earnings per share per quarter they worry about building the franchise and eventually the earnings will come people who they hire sometimes who've been to bcg harvard business school stanford business school uh bain and so forth they tend to focus much more on the more traditional things worrying about earnings on each quarter and earnings revenue growth and so forth but the people that are the superstars of the business world tend to do things that are different than what you tend to learn at harvard business school let's say why is there not that i'm asking the uh typical fortune 5000 ceo to become one of those individuals my bigger question is why are they not showing some level of tendencies that look like that i mean you know to me it's almost like a hundred percent in the other direction complete obsession in hitting numbers in a 90-day window i mean i'm staggered by the lack of conversation of modern what the consumer's doing on podcasting or what's happening with last mile delivery or cloud kitchens or there's just so many clear indicators of disruption every day because the internet scale yet you know finding some costs here or making roi decisions on reports based on a nielsen's i mean there is some silliness out there david well in the early days of a company they tend to focus on growth and as you know the out world is one where you took an existing company and try to make it somewhat more efficient uh the growth capital world is completely different as is the venture capital world so if you invest in growth capital you tend to have entrepreneurs running those companies much more who are focused on growing the revenue base and believe that the earnings will eventually come but david what's the biggest change in pe from the day you co-founded carlyle group to the current state of the market well in the early days of private equity it was basically 95 debt 5 equity sometimes 99 debt and 1 equity so they're highly levered secondly the people doing the deals tended to be former investment bankers whose skill set was financial engineering today you have i mean 50 equity and 50 debt so it's much less leverage you tend to have more people have operational experience who are working in these companies and therefore they know how to fix companies a bit more than the former investment banker types did and also private equity is today seen as mainstream not alternative very few people do not have something in their portfolio that is private equity uh generally people uh avoided that uh 20 30 years ago because they thought it was too risky people don't think it's that risky these days no it's see you know in the world of spax and vcs and this and that it seems to your point wildly conservative by nature no yes the private equity firms are often considered the lessons how does that run through your head like do you laugh does that make you snicker sometimes or giggle a little bit because you realize you know back when you were starting there was a a lot of cynicism or curiosity of this volatile concept i've learned a lot from i have a daughter that started a private equity firm recently in the healthy food area and she's teaching me how to raise money in ways that i never knew about and she's talking about the ways to incite young next generation investors and things i didn't think about i used to introduce

### [15:00](https://www.youtube.com/watch?v=DeBY1xi0Tis&t=900s) Segment 4 (15:00 - 20:00)

her to my friends who might invest with her i thought and well they said they don't understand what she's talking about but they say my daughter might and say they turn her over to their daughters and their daughters say yes this is what we want so it's a different generation the world moves forward david i want some hot takes almost like if we're on the espn debate show of like a little speed here around leadership when i say leadership what kind of goes in your mind what are some of the words adjectives things that run through your brain well leadership is something that we need because you can't have everybody be a leader you have to have some people be followers and leadership is what moves the business world forward and the civilization forward the best leaders in my view have failed a bit in their career they've overcome that they have recognized that luck isn't very important that they're not so brilliant by themselves they are people that know how to share the credit they're motivate people they're people that in my view have some humility to them not arrogance they're people who have a high degree of integrity and they're people that other people really want to follow because they're good role models do you think patience is a play in there well entrepreneurs um tend to be less patient than let's say uh other kind of leaders if you're the leader of a large company you may be more patient but you know too much do you think do you think david you know it's funny because when you talk about bezos i actually think that was a i actually find that patience is that entrepreneurship that the speed and the and the way it are viewed a lot of times is the facade and the makeup that a lot when you kind of wash that off if you look carefully there's a lot of patience going on there which because you overlay patients you i think it i think patience as a framework actually allows for humility or for compassion and sympathy and empathy which i think are also required to be a great leader any thoughts when i say that because it's something i've been really thinking a lot about well the people that often start companies are driven people high iq high work quotient and they have to be patient with the people that they've hired who are not quite as driven as they are and so if they just yell and scream at these people all the time they won't have all these people working for them so they have a patient they also have to be patient to wait till the customers catch up with what they're doing because sales might take a while before people realize what you've done is reinvent part a part of the world so yeah this is required uh to some extent but impatience is important as well because if you're impatient you're determined to get something done relatively quickly you will motivate other people to work harder david one of the things you know i i i've been very proud in my i'm 44 years old about to turn 45 i've i come from a you know similar background as you i was born in this in belarus in the former soviet union i immigrated here in the late 70s um and you know lived in a studio apartment in queens with my family my dad had a job as a liquor store clerk and eventually owned his own store and i kind of you know i'm a son of a merchant more of a story of the 20s and 30s eastern european jews than let's say modern times because such a small group of russian jews got out in the late 70s i i've always you know thus why did i tell you that because i started running my dad's business at 22 years old i took a three you know a 3. 8 million a year revenue business doing 10 gross profit and built it to a 65 million dollar business with no capital not raising not even a credit line and i did that through innovation email marketing. com google adwords but i led people and i lead a thousand people today i have a big platform where i talk about mindset and leadership and kindness i recently in the last three to four years it became obvious to me that my obsession of kindness came at the lack of candor which created entitlement when do leaders miss the mark and actually create entitlement instead of fake safe environments that can really flourish because that's something that i've had to recalibrate in the last 36 months and i'm in my process and i view and i view that my inability to have candor led to entitlement because i was taking on so much as a quote-unquote leader but it created delusion underneath me well you tend to get people who surround entrepreneurs who eventually tell them what they think they want to hear that often happens in the business world in the political world and so if you believe that everybody who's it you know it's david i apologize you know it's funny to me i i'm incapable of listening to pro or con around me because i only focus on what the consumer is telling me it was less about what they were making me feel good and couldn't tell me what i was doing wrong it was more that i was incapable of communicating their shortcomings because of the negativity that i felt surrounded it i've only come to recently understanding that candor is kindness and i was curious as you've studied

### [20:00](https://www.youtube.com/watch?v=DeBY1xi0Tis&t=1200s) Segment 5 (20:00 - 25:00)

leadership i do think safety for your people underneath you feeling safe is an incredible infrastructure for speed which creates you know incredible results both in sport and in business and i was curious if you'd come across um this subject or how you view it in the leadership scale of the fine line between safety or it becoming entitlement well if you are working a business and you build a business you want people to think you're actually moving forward and you're reasonably safe in trying to take some risks but if people are so nervous about the future they can't focus on what they're doing that's not good either you have to walk a fine line between scaring people who are working for you and kind of motivating them by a little bit of fear that if they don't do a good job something bad will happen but they shouldn't worry about their entire life falling apart if something doesn't work out well in the company so you have to walk a fine line and not scare people too much in the end you'll lose those people because they'll quit the comp here for me is and you've had you know uh an incredible career which has created a an opportunity to probably see a lot of families that have means and i think the thing that so many families that have means worry about is that next generation you know especially when you come you know especially if you're you know you and i are part of the par the lineage that you know it's like i say to a lot of my friends it's hard to be hungry when you're always fed you know and i think the the comp i'm making here is i think a lot of well could you families struggle with finding the balance for their children to create motivation and to create reality because they live in cocoons i think about that in the business world as well sometimes in leaderships thoughts jackie kennedy famously said that if you mess up raising your children nothing else in life matters and the truth is in hindsight when you grow up in a relatively modest background there's a big advantage you realize you have to learn skills yourself and you're going to make it on your own or you're not going to make it correct you get to be very wealthy and you try to raise children it's very difficult right i would say you know if you look at the children of extremely wealthy families they tend to have some challenges nobody in the forbes 400 was raised by somebody who was also in the forbes 400. if you're very wealthy you're not likely to produce a child who's also going to be so hungry that he or she is going to go out and make a couple billion dollars it just doesn't happen so that you just have to accept that so in hindsight your upbringing in my upbringing were big advantages to us because if you have the loving attention of your parents and their willingness to support you what more do you really need if you're very wealthy and you just throw money at your kids they're not likely to be that successful in my view do you think there's comps there in the way that people i mean i feel like i see that a lot with bonuses in the corporate world you know throwing money at the as the carrot or you know i think a lot of times people are too one-dimensional in their uh leadership or inspiration agree yeah well sometimes uh you know you people just measure their success and accompany by what the size of their compensation is as opposed to other qualities they should be developing that are not often as measurable as uh dollars and uh sometimes people overpay people then and the result is not what you want it's the reverse of what you want people get fat and happy and they think they're great when they really should be improving the cliche question when someone writes a book like this what was the one trait that you saw across the board of all these leaders was there anything that stood out yes um the great leaders they're really great leaders are people that recognize they had luck because they had failed at something they overcame it and as a result they're really humble if you sat down and had dinner with warren buffett you would have no idea that he's the greatest investor of all time or that he's worth the 100 billion dollars it just you wouldn't see that or if you sat down with jeff bezos is you know very approachable in the history of the world the wealthiest men in the world throughout history been very isolated and didn't have great sense of humor you know howard hughes wasn't a barrel of laughs uh pete or getty you know wasn't exactly a person who was you know hanging out with a lot of other people but jeff bezos is very accessible as is bill gates relative to people have been the richest worker people in the world in the past so i do think that humility is an important thing now you can have great leaders who are not humble you know i suspect that napoleon wasn't really humble i suspect alexander grey to attach the name great to himself probably wasn't humble but generally the people i admire the most the ones i've written about have a fair amount of humility david i love you for saying that i'm a big fan of that i just don't understand how humans decide just because of their wealth creation talent which is often god-given that all of a sudden they need to impose that and are unable to calibrate balancing it with humility i just don't understand it

### [25:00](https://www.youtube.com/watch?v=DeBY1xi0Tis&t=1500s) Segment 6 (25:00 - 30:00)

arrogance is something that i don't really uh value that much and i see it from time to time and you can judge a lot of people's flaws by how arrogant they are david do you think that people struggle with um watching someone and not realizing the difference between actually just being passionate and confident and being arrogant and lacking humility because i find that to be the case quite a bit well you can be passionate about something without bragging about how great you are you can say your company is very good without saying you are great i think a lot of people give credit to other people ronald reagan famously said there's no limit to what humans can accomplish if they're willing to share the credit and if people are i think it's a great uh great thing and if you make a mistake take the blame we learned that you know david it's funny that part i think a lot about i think the difference between the balance between sharing the accolades and the difference between being accountable i find leaders struggle with all the way accountability you know like i said to a buddy of mine i said yeah but you hired that person well john kennedy made a famous speech after the bay of pigs in which he said i made a mistake it's my fault and his popularity went up and people were surprised how can you make such a big mistake and your popularity went up is because of inability right he said it was his fault now what we've learned is that politicians now say i was my fault for one second and then they say it really wasn't my fault right but yeah in the in this last minute and i really enjoy this couple things the book is available on amazon and all platforms can you please give it a name one more time because i have a funny feeling a lot of people listening are gonna buy it how to lead how kept it you kept it simple how is that still available david well i don't know if they said it was how to lead david how competitive were you for this book to do well i think people will find this interesting you have all the these successes right obviously you know but here comes the book it's a week out how much is it running through your head of like i want this i want this book to sell i want this to do well i don't need my buddy you know who selling more books or i want to be on this list or like how much did your competitive juices get going well of course if you work on a book for a couple of years you want it to do well i'm giving all the money away to the uh children's yes it's not clearly it's not a financial value that's what i mean it's not about the dollars it's the competitive spirit that you don't want one of your buddies you know hitting you up saying they sold more copies and or the passion to get it out in the world in red and or just your own internal like you like games and you want it to be successful everybody wants to be successful in what they do and so i wanted to be successful i want people to read it and i hope young people read it so they can be inspired to be leaders themselves dave what's the most interesting thing of from your perspective of the young generation right now you know you you're in a fortune place of living a full life at this point if i said to you hot take gen z under 30 your observation what's most intriguing to you i wouldn't say your favorite thing i wouldn't say the thing that they're missing i mean intriguing to you i think the younger people to a greater extent than my generation are interested in changing the world for the better doing things that are healthier for the world they're less focused on just making large sums of money they really want to help other people and they want to be more connected to the whole world not just their own little neighborhood or country david one last little selfish question because i'm so passionate about marketing communication i think when the investment world realizes how the fortune 500s are wasting money on television and other and even internet and just there's a you'd be flabbergasted i have a feeling based on your background on how poorly marketing media is spent in the fortune 500 land is that even on your radar is there in your circles in your radars is there an understanding right now that marketing is changing dramatically and the coca-colas and the bmws and the marriotts of the world are in a real chasm like a real chasm well let's put it this way if i was doing this book tour 20 years ago i'd be on television and radio now i'm spending most of my time with people who do podcasts because people are listening to podcasts and my children say dad you're not on this podcast you should be on that podcast and so more and more people are marketing things differently because podcasts and other social media are the way to go clearly you understand that for yourself do you believe in the investment world in the in madison avenue in wall street that there's an understanding of this massive gap and enormity of wasted marketing dollars that could be driving much bigger business results for the biggest companies in the world or do you think that conversation hasn't bubbled up yet into the top 500 people happening but it's moving more slowly much more slowly for example when facebook went public a number of years ago maybe

### [30:00](https://www.youtube.com/watch?v=DeBY1xi0Tis&t=1800s) Segment 7 (30:00 - 30:00)

eight or nine years ago people said well facebook's good but you're not really on mobile devices and they said well jeez why is that so important eventually uh facebook figured out how to be on mobile devices but until then they were really getting caught and behind so today you've got to be a mobile device or social media devices and it's a completely different world david i appreciate your time i wish you success with the book i hope everybody who's listening picks up a copy take care david all right bye youtube watcher what's up it's garyvee first of all thank you so much i hope you're doing super well during these times uh i also want to ask you please subscribe because my commitment and exploration of youtube is about to explode stories polls more content more engagement more surprise and delight this is the time to subscribe i hope you consider it and i hope i see you soon

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*Источник: https://ekstraktznaniy.ru/video/17633*