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Given how much money it's raised, it clearly has done something.
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Let's think about breast cancer awareness. If you haven't heard of breast cancer, then you're a -blam!-ing backwoods redneck, and even then we still don't have a cure.
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As far as I'm aware there is no cure for ALS, and I doubt that this challenge is going to create one, but I don't see your point. It's for research on the disorder.