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Nick lives in a bungalow next to Gatsby mansion. This allows Nick and Gatbsy to become friends.
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Nick realizes Tom's affairs and secrecy.
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Shows Gatsby has a special connection with Nick because he never invites anyone to his parties, they just show up.
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Shows that Gatsby is invovled with sketchy business
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Shows that Daisy isn't exactly what Gatsby expects.
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Nick finally figures out the truth about Gatsby
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Shows Daisy's true recklessness
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Gatsby was willing to take the blame to protect Daisy and sacrifice his status
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Shows that even though they went to his parties, no one truly cared about Gatsby.