SpringOwl Asset Management LLC · activist-deck
Yahoo! Inc. (YHOO)
99 pages · 3 arc beats · 2 loops
Yahoo! Inc. (YHOO)
SpringOwl Asset Management LLC · 2015-12 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 8 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
Problem Statement 3 slides 100% 3/3 slides 100% 3/3 slides · 18 hits — 0/3 slides
66.7% 2/3 slides 66.7% 2/3 slides 100% 3/3 slides — 0/3 slides
Expose Contradiction 3 slides 100% 3/3 slides 100% 3/3 slides · 14 hits — 0/3 slides
33.3% 1/3 slides 66.7% 2/3 slides 100% 3/3 slides — 0/3 slides
Propose Solution 2 slides 100% 2/2 slides 100% 2/2 slides · 9 hits — 0/2 slides
— 0/2 slides
— 0/2 slides
100% 2/2 slides — 0/2 slides
Slide inventory
99 every slide · same image gating as the playbook
05
Includes a footnote regarding the EV/EBITDA Ex-Asia Stakes calculation.establish_context
06
The chart highlights a divergence where Nasdaq grew 7% while Yahoo declined 31%.compare_peers
07
The chart highlights Yahoo's 81.5% return versus Nasdaq's 71.2% return over the 3-year period ending Dec 2015.compare_peers
08
The chart highlights the performance gap between Yahoo and the Nasdaq as of December 2015.compare_peers
09
The chart highlights the tracking behavior of Yahoo stock relative to Alibaba's performance post-IPO.expose_contradiction
10
The slide uses a trend line to highlight a 55% decline in EBITDA over the period.diagnose_problem
Open slide detailBeat · Problem Statement
11
The chart highlights a negative trend line over a 5-year period, emphasizing the need for strategic intervention.diagnose_problem
Open slide detailBeat · Problem Statement
12
The chart highlights an 88% increase in expenses, framing it as a problem requiring a turnaround.diagnose_problem
Open slide detailBeat · Problem Statement
13
The chart uses a dual-axis approach to show the divergence between revenue and headcount, specifically pointing out the hiring of Marissa Mayer in 2012.expose_contradiction
Open slide detailBeat · Expose Contradiction
14
The slide highlights that Yahoo spends a higher percentage of revenue on R&D compared to peers despite lower absolute dollar amounts.compare_peers
Open slide detailBeat · Expose Contradiction
16
Uses a historical precedent to frame current PE interest as predatory rather than value-additive.preempt_rebuttal
18
The slide uses a 'Why not instead' framing to pivot from a critique of management's plan to a proposed alternative.preempt_rebuttal
21
The slide outlines a specific activist thesis for value creation at Yahoo.summarize
22
The slide uses a comparative table structure to demonstrate value creation through asset optimization and share buybacks.show_valuation_bridge
23
The chart uses a waterfall-bridge structure to show value creation components.show_valuation_bridge
26
The slide uses a dual-row timeline to emphasize the chaotic nature of Yahoo's corporate governance.expose_contradiction
27
The slide uses a matrix to map product categories against user engagement types.establish_context
28
The slide uses a bar chart to illustrate the 'Mobile Migration' trend, contrasting desktop ad spend decline with mobile ad spend growth.diagnose_problem
29
Uses a table-like structure to compare revenue figures across three companies over three time periods.compare_peers
30
Uses a radial chart to visually contrast the percentage values.expose_contradiction
32
The slide uses irony/satire to frame the CEO's appointment as a failed promise.expose_contradiction
33
Uses a contrast-pairs framework to highlight the differences between two leadership candidates.compare_peers
34
Uses a quote-based approach to frame the narrative of corporate bloat.expose_contradiction
35
Uses a contrast-pairs framework to highlight the gap between expected value and actual outcome.expose_contradiction
36
Uses a hub-and-spoke diagram to illustrate the negative outcomes of the misallocated capital.expose_contradiction
37
The slide uses a 'logo-grid' to overwhelm the viewer with the sheer volume of failed or underperforming acquisitions.expose_contradiction
38
The slide provides a granular breakdown of M&A activity to support a broader argument about capital allocation.analyze_data
40
The slide uses a contrast-pairs framework to illustrate the disparity in value creation between two similar-sized acquisitions.compare_peers
41
Uses a contrast-pairs framework to highlight the failure of the Tumblr acquisition.compare_peers
42
The slide uses a 'cronyism' narrative to criticize capital allocation.expose_contradiction
43
Uses a visual connection between the two individuals and their respective companies to highlight cronyism.expose_contradiction
44
The slide uses a news screenshot to illustrate the hype vs. reality of the product launch.expose_contradiction
45
Uses a quote from Eric Jackson to frame the failure as a lack of market research.name_villain
46
Uses a combination of qualitative quotes and quantitative benchmarking to undermine management's strategic narrative.expose_contradiction
47
The slide uses anecdotal evidence and industry quotes to undermine management's claims about Gemini's success.name_villain
48
Uses a bulleted list to build a logical argument against management's capital allocation strategy.expose_contradiction
49
The slide uses a mix of logos and ranking badges to illustrate Yahoo's mobile footprint.compare_peers
50
The slide uses a visual 'before-after' progression for each app to highlight the drop in rank.expose_contradiction
51
Uses flag-style visual metaphors to represent ranking positions over time.expose_contradiction
52
Uses a timeline-based comparison table to expose Yahoo's failure to pivot to mobile compared to peers.compare_peers
54
The slide uses a contradiction frame to argue that executive pay is misaligned with company performance.expose_contradiction
55
The slide uses a list-based breakdown to expose the scale of executive compensation.analyze_data
56
The slide uses a table to present a large volume of transaction data to support an activist narrative regarding executive behavior.expose_contradiction
57
Uses headshots of Tim Armstrong, Nikesh Arora, Marissa Mayer, and Henrique De Castro to visually reinforce the contrast.expose_contradiction
58
The slide uses a visual timeline/process flow to list costs, culminating in the 'half an Instagram' comparison.name_villain
59
Uses visual juxtaposition to criticize management's fiscal responsibility.expose_contradiction
60
Uses a direct quote from the CEO to highlight a contradiction between management's narrative and internal reality.expose_contradiction
61
The slide uses red circles to draw attention to the Q3 performance discrepancy.expose_contradiction
62
The slide uses a red oval to highlight the specific rows (2013-2014) that constitute the 'last 2 years' of buybacks mentioned in the title.expose_contradiction
Open slide detailLoop · Cost Of Inaction
63
Uses a quote from Marissa Mayer to contrast with the rising cost trend line.expose_contradiction
Open slide detailLoop · Cost Of Inaction
64
The slide uses red dotted lines to emphasize the negative trend and circles to highlight specific data points, framing the CEO's tenure negatively.expose_contradiction
65
The chart highlights the divergence between the Americas region and the declining EMEA and Asia Pacific regions post-hiring.expose_contradiction
66
Uses a waterfall-style bridge to reconcile reported EBITDA to a 'correct' figure.expose_contradiction
68
The slide summarizes a specific activist proposal from Starboard Value regarding Yahoo's corporate structure.propose_solution
70
Uses historical precedent to preemptively rebut the argument that Yahoo is a hopeless case requiring private equity intervention.expose_contradiction
71
This is a classic activist investor rebuttal slide, framing the opponent's proposal as a 'fire sale' and positioning the author's plan as the superior alternatipreempt_rebuttal
74
Uses a specific quote to frame a counter-argument (preempting the 'it's impossible' rebuttal).preempt_rebuttal
75
The slide uses a comparative table structure to demonstrate value creation through asset realization and core business improvement.show_valuation_bridge
76
The chart uses a waterfall bridge to show how specific strategic actions (Core Business, Asian Stakes Tax Savings, Share Count Reduction) build up to a total poshow_valuation_bridge
82
Uses a 'reductio ad absurdum' argument regarding the $3B M&A write-off compared to a $42M content write-off.state_demand
83
This is part of a multi-step activist proposal by SpringOwl Asset Management.state_demand
Open slide detailLoop · Quick Win Big Bet
84
Part of a multi-step activist proposal for Yahoo.propose_solution
Open slide detailLoop · Quick Win Big Bet
85
The slide uses a list format to outline specific tactical changes to improve shareholder value.propose_solution
89
The slide frames a list of potential M&A targets to demonstrate the asset's value and liquidity.other
90
The slide uses a before-and-after table structure to illustrate the impact of share retirement on EPS and total valuation.quantify_opportunity
91
Uses a variation of the BCG Growth-Share Matrix logic (Re-invest, Milk, Kill) applied to corporate strategy.propose_solution
92
The slide uses a waterfall-style logic to bridge from current market cap to a proposed higher valuation through asset realization and core business improvement.show_valuation_bridge
93
The chart uses a waterfall bridge to demonstrate value creation, contrasting a negative impact from Starboard's plan with positive contributions from core businshow_valuation_bridge
96
The slide categorizes directors into Executive and Non-Executive groups and provides key metrics like age, tenure, and committee assignments.introduce_nominees
99
The chart uses a dot plot to show revenue size relative to the target company.compare_peers