Along these lines, if you already have a networked time machine backup, you can find the disk image, open it with Disk Utility, and use "Resize Image". I just tried this after reading this hint and it works!

This really should be an option in Time Machine to make it easier for many computers to back up to a single Time Capsule or other drive without one person hogging all the space. In fact, I wonder how time machine handles if multiple users are backing up at the same time and the network drive runs out of space?

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