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In this talk, I give an overview of some recent developments in the theory of large-scale structure, with a particular focus on the co-evolution of galaxies and their dark matter halos. In particular, I will discuss the newly introduced age matching technique and outline the wide variety of successes this model achieves with very few ingredients. I will show by explicit demonstration that the success of this model has exposed fundamental degeneracies in traditional approaches to galaxy-halo modeling. I conclude by outlining a plan for the path forward to breaking these degeneracies, so that we may achieve the potential of deep and wide-field galaxy surveys to 1) develop a complete picture of galaxy evolution, and 2) contribute to the precision cosmology program with galaxy clustering measurements.
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