How to display default pods content if empty?

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I see that there are 2 boxes, in the advanced tab:

Set Default Values

AND

Set Default Value via Parameter

I’m trying to do 3 things:

– Display default image if no featured image is selected
– Display default text if no text is selected
– Display custom HTML pod if no HTML is pasted

It would be great to know what code I’m supposed to input in those fields?

Thanks