Grace and Alvina run through some basic terms in publishing, including what a publishing division vs a publishing imprint might mean. They talk about the different departments in a publishing house, including the differences between marketing and publicity, and some other different titles and departments, including the distinction between Production and Production Editorial. They talk about advances and royalties. and P&Ls, too!

For the Fortune Cookie segment, in honor of graduation season, they talk about what they might give a commencement speech about if ever given the opportunity. And they end as always with what they're grateful for.

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