Starboard Value · activist-deck
Tessera Technologies Inc. (TSRA)
80 pages · 3 arc beats · 2 loops
Tessera Technologies Inc. (TSRA)
Starboard Value · 2013-04 arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
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Deck intelligence map
3 coverage by narrative range · generated from this deck JSON
Narrative range 40 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
Problem Statement 2 slides 100% 2/2 slides 100% 2/2 slides · 13 hits — 0/2 slides
— 0/2 slides
100% 2/2 slides · 3 hits 100% 2/2 slides — 0/2 slides
Expose Contradiction 6 slides 100% 6/6 slides 100% 6/6 slides · 48 hits — 0/6 slides
— 0/6 slides
66.7% 4/6 slides 100% 6/6 slides — 0/6 slides
Propose Solution 32 slides 100% 32/32 slides 100% 32/32 slides · 192 hits — 0/32 slides
15.6% 5/32 slides 21.9% 7/32 slides 100% 32/32 slides 31.3% 10/32 slides Slide inventory
80 every slide · same image gating as the playbook
02
Includes footnotes regarding data sources and historical performance context.summarize
03
The slide uses a case study approach to establish credibility in IP-focused activism.summarize
04
This slide serves as the core 'villain critique' and 'problem statement' for the activist campaign.diagnose_problem
Open slide detailBeat · Problem Statement
05
The slide uses a comparative framing technique to establish the superiority of the activist's nominees over the incumbent board.introduce_nominees
Open slide detailBeat · Problem Statement
06
Uses a contrast-principle framework to position the activist's plan against management's.propose_solution
08
Includes a table of summary returns and three line charts (5-year, 3-year, 1-year) highlighting the impact of a Starboard 13D filing.compare_peers
Open slide detailLoop · Cost Of Inaction
09
Uses red trend lines to emphasize negative performance trends.diagnose_problem
Open slide detailLoop · Cost Of Inaction
10
The slide uses two bar charts to contrast the loss-making DOC segment with the declining profitability of the IP segment.diagnose_problem
Open slide detailLoop · Cost Of Inaction
11
The slide uses two tables to isolate the poor performance of the DOC segment compared to the IP segment.expose_contradiction
Open slide detailBeat · Expose Contradiction
12
Uses a 'Commitment vs. Reality' structure to highlight management credibility issues.expose_contradiction
Open slide detailBeat · Expose Contradiction
13
Includes a bar chart showing revenue vs EBIT decline and a table comparing growth and EBITDA margins against peers.compare_peers
Open slide detailBeat · Expose Contradiction
14
Includes logos of Micron, Amkor, and Powertech as examples of failed license renewals.diagnose_problem
Open slide detailBeat · Expose Contradiction
15
Uses a bar chart to visualize historical and projected losses, and a text block to highlight contradictory management statements.expose_contradiction
Open slide detailBeat · Expose Contradiction
16
Uses specific examples of executive departures (Young, Chernicoff, Roohparvar) to build a case for board dysfunction.expose_contradiction
Open slide detailBeat · Expose Contradiction
17
The slide uses a direct quote (the resignation letter) to substantiate the claim of board dysfunction.expose_contradiction
18
The slide uses a 'villain' framing by focusing on the lack of independence and the consolidation of power under Richard Hill.name_villain
23
The slide uses three charts to demonstrate market growth (revenue, litigation, and applications) to contrast with the company's performance.diagnose_problem
Open slide detailBeat · Propose Solution
24
This slide uses a narrative structure to frame the company's current business model as a failure of strategy, setting up the activist's proposed pivot.diagnose_problem
Open slide detailBeat · Propose Solution
26
Highlights the discrepancy between patent distribution and revenue generation.analyze_data
27
The chart is an exploded pie chart showing the percentage distribution of patent coverage across various packaging technologies.analyze_data
28
The slide uses two bar charts to segment the patent portfolio by quality score and age.analyze_data
29
The slide uses a bar chart to show 2012 market size by device type and provides a narrative argument for why Tessera is underperforming in non-DRAM markets.size_opportunity
30
The chart uses a 3D pie chart to contrast internal vs. acquired IP, with a specific callout for the 4% internal portion.analyze_data
31
The slide uses a histogram to show QScore distribution and a bar chart for priority dates to demonstrate portfolio strength.analyze_data
32
The slide highlights the discrepancy between the large market opportunity and the lack of revenue generated by Invensas to date.size_opportunity
33
The slide highlights that Tessera acquired these assets but has not actively pursued broad licensing opportunities.analyze_data
34
The slide uses a QScore algorithm to categorize patent value and shows a concentration of patents in the 2001-2005 priority date range.analyze_data
35
Includes a bar chart showing 2012 market size by device type and text detailing historical revenue decline and future potential.size_opportunity
38
The slide uses a contrast-pairs framework to highlight the disparity between OSATs and OEMs.expose_contradiction
Open slide detailBeat · Propose Solution
39
The chart highlights a significant outlier in 2008 compared to the $36M average.diagnose_problem
Open slide detailBeat · Propose Solution
40
This is a classic 'villain critique' slide used by activist investors to demonstrate management incompetence.name_villain
Open slide detailBeat · Propose Solution
41
The slide uses a combination of a summary table and a bar chart to illustrate the financial failure of the Digital Optics segment.expose_contradiction
Open slide detailBeat · Propose Solution
42
Includes a specific callout box and arrow highlighting the 'Troubling decline due to non-renewals'.expose_contradiction
Open slide detailBeat · Propose Solution
43
The slide uses a bar chart to contrast rising expenses with the claim of lack of output (patents).expose_contradiction
Open slide detailBeat · Propose Solution
44
Uses a combination of bar charts and a data table to illustrate operational inefficiency.name_villain
Open slide detailBeat · Propose Solution
47
The slide uses two bar charts to contrast Tessera's R&D spend and patent output against major semiconductor companies.propose_solution
Open slide detailBeat · Propose Solution
48
Uses peer benchmarking to justify operational changes.propose_solution
Open slide detailBeat · Propose Solution
50
The slide uses a structured list format to provide tactical legal/licensing advice for specific company disputes.state_demand
Open slide detailBeat · Propose Solution
54
Outlines a structured 90-day plan focusing on CEO search, IP licensing review, DOC business evaluation, cost structure, and organizational assessment.state_next_steps
59
Includes a track record table and a share price performance chart for ARM Holdings during his tenure.introduce_nominees
60
Includes a table of financial performance metrics and a line chart showing share price growth during his tenure.introduce_nominees
62
Includes logos of companies associated with the nominee and two stock performance charts.introduce_nominees
64
Includes a disclosure statement regarding the lack of prior relationship between Starboard and the nominee.introduce_nominees
67
Uses rhetorical questioning to highlight the absurdity of the board's stated criteria.expose_contradiction
68
The slide uses a chronological narrative to frame the Board's actions as a pattern of disenfranchisement.expose_contradiction
69
The slide uses a chronological list to build a narrative of bad faith governance.expose_contradiction
70
The slide frames the activist's position as reasonable and conciliatory to preempt claims of being unreasonable or purely disruptive.preempt_rebuttal
73
The slide details the inputs and analytical steps taken to evaluate patent quality, infringement, and potential damages.present_framework