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MARKET 05 · EXHIBIT 4 — THE SPINE CUTTER, AT SCALE

Now it's a company. It buys millions of used books in bulk — by the pallet, from liquidators and secondhand dealers — runs them through hydraulic cutters and industrial scanners, keeps the files, and pulps the paper.

Is that different?

ANSWER TO SEE WHERE AMERICA TRADES

THE MARKET THIS CAME FROM · QUESTION 4 OF 9Was it a book burning? →You'd never burn a book. But you'd recycle one. Somewhere between your bin and their warehouse there's a line — eight exhibits will find yours.