__new__ vs __init__ in Python

What's __new__ and what's the difference vs. __init__?
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What's the difference between the "__new__" and "__init__" magic methods in Python? New is for object creation, and init is for object initialization. It is rare that a programmer would actually need to override new, so let's see some examples of how it can be used.

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Python new docs: https://docs.python.org/3/reference/datamodel.html#object.__new__
tp_new in CPython: https://github.com/python/cpython/blob/main/Objects/typeobject.c
C extension example: https://cython.readthedocs.io/en/latest/src/userguide/extension_types.htm #existing-pointers-instantiation
Singleton pattern: https://en.wikipedia.org/wiki/Singleton_pattern

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CHAPTERS
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0:00 Intro
0:50 New vs init
2:51 Main purpose, subclassing immutable types
5:03 Singleton example
6:35 Client caching example
7:58 Encrypted file example
10:33 Metaclasses