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How to create small PDF files for the Internet

The PDF files generated by pdflatex are quite large. If I bring these into Acrobat and save compressed I can typically shrink a 4MB file to 1MB and a 1MB file to 256K. I've looked at the PDF files and there are a lot of duplicate entries that can be factored out, and images that can be shrunk. Is there any way to do this with open source command line tools?

marked as duplicate by zeroth, Stefan Kottwitz Oct 9 '12 at 14:00

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