{
  "schemaVersion": "deck-intelligence.v1",
  "id": "019dd923-622b-71dc-a6dd-39d1f1dbbec5",
  "slug": "13a96cf5425c",
  "title": "Nintendo Co., Ltd. (7974.T)",
  "subtitle": "Seth Fischer · 2014-02",
  "author": "Seth Fischer",
  "date": "2014-02-26 00:00:00",
  "pageCount": 3,
  "kind": "shareholder-letter",
  "orientation": "portrait",
  "aspectRatio": 0.70735884,
  "targetCompany": "Nintendo Co., Ltd.",
  "targetTicker": "7974.T",
  "document": {
    "id": "019dd923-622b-71dc-a6dd-39d1f1dbbec5",
    "slug": "13a96cf5425c",
    "title": "Nintendo Co., Ltd. (7974.T)",
    "rawTitle": "Oasis Open Letter to Nintendo CEO Satoru Iwata",
    "authorId": "25_Oasis_Management",
    "authorName": "Seth Fischer",
    "authorDisplay": "Seth Fischer",
    "kind": {
      "slug": "shareholder-letter",
      "label": "Shareholder letter"
    },
    "sourceType": {
      "slug": "activist_investor",
      "label": "Activist investor"
    },
    "fileName": "2014-02-Oasis-Open-Letter-to-Nintendo-CEO-Satoru-Iwata.pdf",
    "sourceUrl": null,
    "sourceDate": "2014-02-26 00:00:00",
    "presentationDate": "2014-02-26 00:00:00",
    "ingestedAt": "2026-04-22 18:19:52+00",
    "status": "ready",
    "pageCount": 3,
    "orientation": "portrait",
    "aspectRatio": 0.70735884,
    "targetCompany": "Nintendo Co., Ltd.",
    "targetTicker": "7974.T",
    "metadata": {
      "local_root": "/tmp/legacy-images/13a96cf5425c",
      "activist_firm": "Oasis Management",
      "origin_corpus": "contrarian",
      "extraction_seconds": 104.46307301521301
    }
  },
  "coverage": {
    "pageCount": 3,
    "pagesIndexed": 3,
    "pagesWithImages": 3,
    "pagesWithMetadata": 3,
    "imageCoveragePct": 100,
    "metadataCoveragePct": 100,
    "componentCount": 22,
    "chartCount": 0,
    "metricSlides": 0,
    "toolMatches": 1,
    "documentToolMatches": 0,
    "frameworkMatches": 1,
    "arcMatches": 1,
    "beatMatches": 3,
    "loopMatches": 1,
    "patternMatches": 0,
    "storymakersMatch": false,
    "scoreAvailable": false,
    "reviewAvailable": false,
    "activistThesisAvailable": true,
    "pitchdeckMetadataAvailable": false,
    "pitchdeckProfileAvailable": false
  },
  "blocks": [],
  "matches": {
    "arcs": [
      {
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "matchId": "41dec64c-4493-42b0-8ed7-ab9007ad323c",
        "evidence": "The structure of the document, with an executive summary and a closing ask, matches the Consultants' Gambit narrative shape",
        "isPrimary": true,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 21:56:50.670948+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "beats": [
      {
        "to": 1,
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 1,
        "name": "Situation & Context",
        "beatId": "a62a1c41-9547-46c6-9aeb-43cbaa6fde6c",
        "matchId": "41dec64c-4493-42b0-8ed7-ab9007ad323c",
        "beatType": {
          "name": "Situation & Context",
          "slug": "consultants-gambit-situation-context",
          "status": "active",
          "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3",
          "version": 1,
          "description": null
        },
        "evidence": "The opening slide 'OASIS' provides context",
        "position": 0,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Setup",
          "slug": "setup",
          "status": "active",
          "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc",
          "version": 1,
          "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      },
      {
        "to": 2,
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 2,
        "name": "Problem & Complication",
        "beatId": "1ab121f4-cfd3-4c30-9971-6f8b5f9f7841",
        "matchId": "41dec64c-4493-42b0-8ed7-ab9007ad323c",
        "beatType": {
          "name": "Problem & Complication",
          "slug": "consultants-gambit-problem-complication",
          "status": "active",
          "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4",
          "version": 1,
          "description": null
        },
        "evidence": "The executive summary likely outlines challenges faced by Nintendo",
        "position": 1,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Complication",
          "slug": "complication",
          "status": "active",
          "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
          "version": 1,
          "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      },
      {
        "to": 3,
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 3,
        "name": "Impact & Next Steps",
        "beatId": "1df48b1c-c609-479b-bdb1-08427dc7c9be",
        "matchId": "41dec64c-4493-42b0-8ed7-ab9007ad323c",
        "beatType": {
          "name": "Impact & Next Steps",
          "slug": "consultants-gambit-impact-next-steps",
          "status": "active",
          "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655",
          "version": 1,
          "description": null
        },
        "evidence": "The closing ask on the last slide implies a call to action",
        "position": 2,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Resolution",
          "slug": "resolution",
          "status": "active",
          "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b",
          "version": 1,
          "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      }
    ],
    "loops": [
      {
        "to": 3,
        "from": 2,
        "loop": {
          "name": "27_cost_of_inaction",
          "slug": "27-cost-of-inaction",
          "status": "active",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
          "version": 1,
          "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "description": "Quantify what happens if the audience does nothing",
          "familyLabel": null,
          "categoryName": "Urgency",
          "categorySlug": "urgency"
        },
        "matchId": "1a4789a5-8c79-467f-a7ac-2639fd64f5ad",
        "evidence": "The letter implies that not addressing challenges will negatively impact Nintendo",
        "position": 0,
        "objective": "What are the consequences of not adapting to market changes?",
        "confidence": 0.6,
        "extraction": {
          "at": "2026-07-16 21:56:50.796357+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "tools": [
      {
        "tool": {
          "name": "Storytelling: audience calibration",
          "slug": "audience",
          "status": "active",
          "bestFor": null,
          "canonId": "019df269-23ea-723a-87c0-af1d78d702d2",
          "version": 1,
          "bodyDocId": "019df269-23c5-72ec-8b94-78fc1da7b656",
          "description": "The same thesis, written for four different audiences, produces four",
          "familyLabel": "narrative-block",
          "categoryName": "Narrative & Transformation",
          "categorySlug": "narrative-transformation"
        },
        "agent": "storyteller",
        "layer": "slide",
        "agents": [
          "storyteller"
        ],
        "matchId": "895a9517-aa78-4f7e-a7a0-d163ae6c1b4b",
        "evidence": "OASIS",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.5,
        "extraction": {
          "at": "2026-07-16 22:55:53.554203+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 1,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      }
    ],
    "frameworks": [
      {
        "matchId": "26faf8b9-3a7c-4775-8371-a7eaf173a68b",
        "evidence": "Comparing Nintendo's Mario franchise to Netflix's House of Cards to argue for platform-neutrality.",
        "framework": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-05-02 20:56:00.861+00",
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 2,
        "frameworkName": "argument-from-analogy"
      }
    ],
    "patterns": []
  },
  "storymakers": null,
  "score": null,
  "review": null,
  "activistThesis": {
    "tone": "collaborative",
    "notes": "Three-page open letter from Seth Fischer (CIO, Oasis Management, Hong Kong) to Nintendo CEO Satoru Iwata, a follow-up to an earlier letter dated June 11, 2013. Document is clearly dated February 26, 2014 on the cover and all page headers — the filename prefix '2016-08' appears to be incorrect/archival mislabeling. Tone is strikingly polite and analogy-driven rather than adversarial: Fischer uses Netflix, WhatsApp, King Digital and Zynga as templates, never names a villain, and even invokes Iwata's own 'history of pivoting' phrase supportively rather than as a gotcha. No stake disclosed, no price target, no quantified upside. Scanned PDF with visible OCR artifacts ('repofts', 'Febrr-rary'). Historically notable: this letter presaged Nintendo's eventual mobile pivot (DeNA partnership 2015, Super Mario Run 2016, Pokémon GO licensing).",
    "kpisCited": [
      {
        "detail": "$19 billion — signals value of mobile attention share",
        "metric": "Facebook/WhatsApp acquisition price"
      },
      {
        "detail": "up to 25% of user time in many countries per media reports",
        "metric": "WhatsApp time-share on smartphones"
      },
      {
        "detail": "well over $100 billion across firms competing for smartphone attention",
        "metric": "Aggregate mobile attention-economy value"
      },
      {
        "detail": "+21% year on year",
        "metric": "Netflix 2013 revenue growth"
      },
      {
        "detail": "+296% — best S&P 500 performer",
        "metric": "Netflix 2013 share-price return"
      },
      {
        "detail": "$50 cut in September 2013 did little to lift unit shipments",
        "metric": "WiiU price cut"
      },
      {
        "detail": "500 million installs, 1.2 billion daily game plays",
        "metric": "King Digital installs"
      },
      {
        "detail": "$8m in 2012 → $568m in 2013 — levels Nintendo has not hit since 2011",
        "metric": "King Digital net income"
      },
      {
        "detail": "just $15m in 2013 to deliver that profit — extraordinary ROIC",
        "metric": "King Digital capex"
      },
      {
        "detail": "$527 million acquisition to buy free-to-play expertise",
        "metric": "Zynga / Natural Motion Games deal"
      }
    ],
    "closingAsk": "As a shareholder, Oasis asks Nintendo to embrace the industry shift by bringing its game library to iOS and Android and acquiring free-to-play expertise, and requests a meeting with the CEO to discuss the plan.",
    "extraction": {
      "at": "2026-04-22 18:19:52+00",
      "model": "unknown-legacy",
      "runId": null,
      "seconds": 104.46307,
      "promptVersion": null
    },
    "scqaReward": "Capture a meaningful share of the $100bn+ mobile attention economy, extend the life of Nintendo IP through free-to-play in-game revenue, and deliver 'huge' upside for shareholders when the pivot lands.",
    "thesisTypes": [
      "strategic_pivot",
      "operational_turnaround"
    ],
    "top3Reasons": [
      "Mobile attention share is worth $100bn+ and Nintendo's IP is perfectly placed to capture it",
      "WiiU sales keep disappointing despite a $50 price cut — consoles no longer move the casual gamer",
      "King Digital went from $8m to $568m net income on just $15m of capex — mobile ROIC dwarfs hardware"
    ],
    "scqaSituation": "Nintendo, holder of arguably the largest library of casual games — Mario, Donkey Kong, Zelda — has tied its future to proprietary console hardware like the WiiU while its casual-gamer audience has migrated to smartphones.",
    "thesisSummary": "Oasis Management, a Nintendo shareholder, follows up on its June 2013 letter to CEO Satoru Iwata urging him to release Nintendo's library on iOS and Android and embrace free-to-play economics. The argument leans on three analogues: Facebook's $19bn WhatsApp purchase and the $100bn+ aggregate value of mobile 'attention share'; Netflix's 21% revenue growth and 296% 2013 stock return on a platform-neutral distribution model; and King Digital's leap from $8m to $568m in net income on just $15m of capex — a profit level Nintendo has not reached since 2011. Meanwhile WiiU unit sales keep disappointing despite a $50 price cut. Fischer proposes Nintendo partner with or acquire a proven free-to-play studio, citing Zynga's $527m purchase of Natural Motion as template, to preserve IP relevance and unlock huge upside for all stakeholders.",
    "primaryDemands": [
      "Develop and sell Nintendo games on iOS and Android via the App Store and Google Play",
      "Partner with or acquire an experienced free-to-play development studio (Top 10 grossing) to de-risk the transition",
      "Embrace platform-neutral, in-game revenue (free-to-play) economics rather than tying future to proprietary console hardware"
    ],
    "scqaResolution": "Release the Nintendo library on iOS and Android via the App Store and Google Play, and partner with or acquire a proven Top-10-grossing free-to-play studio to de-risk the shift into in-game revenue economics.",
    "thesisOneLiner": "Nintendo should port Mario, Zelda and Donkey Kong to iOS/Android and buy a free-to-play studio — the casual gamer has moved to mobile, where $100bn of attention value awaits.",
    "precedentsCited": [
      "Netflix 2013 platform-neutral distribution (House of Cards across iPad/TV/smartphone)",
      "Facebook acquisition of WhatsApp for $19bn",
      "King Digital US IPO prospectus (Feb 18, 2014)",
      "Zynga acquisition of Natural Motion Games for $527m"
    ],
    "scqaComplication": "WiiU units keep disappointing even after a $50 price cut, while Facebook paid $19bn for WhatsApp and King Digital leapt from $8m to $568m net income on only $15m of capex — a profit level Nintendo has not reached since 2011.",
    "narrativeInterest": 3,
    "notableSlidePages": [
      1
    ],
    "peerCompaniesCited": [
      "Netflix",
      "Facebook",
      "WhatsApp",
      "King Digital",
      "Sony PlayStation",
      "Microsoft Xbox",
      "Zynga",
      "Natural Motion Games",
      "Samsung",
      "Google"
    ],
    "valuationFrameworks": [
      "not_shown"
    ],
    "visualCraftInterest": 1
  },
  "pitchdeck": {
    "metadata": null,
    "profile": null
  },
  "slides": [
    {
      "page": 1,
      "type": "appendix",
      "title": "This is a formal shareholder letter from Oasis Management to Satoru Iwata of Nintendo.",
      "function": "state_demand",
      "imagePath": "https://imgproxy.kitesheet.com/r67anvrZy-kdeAi6Dr_1OM5aH35l_zTwtrJ_v5ps19E/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8xM2E5NmNmNTQyNWMvcDAwMS5qcGc",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "state_demand",
        "functionCanon": {
          "name": "State demand",
          "slug": "state_demand",
          "status": "active",
          "canonId": "019de52d-180b-70a3-99c7-c832ea7db96b",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 74,
        "componentCount": 8,
        "textChars": 1274,
        "nDataPoints": 3,
        "notes": "This is a formal shareholder letter from Oasis Management to Satoru Iwata of Nintendo.",
        "elementsJson": [
          "logo_grid",
          "paragraph"
        ],
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 20:55:57.294+00",
          "seconds": 3.244,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019dd923-622b-71dc-a6dd-39d1f1dbbec5/1",
        "deck": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5",
        "deckAnchor": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5#slide-1",
        "deckJson": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5.json"
      },
      "components": [
        {
          "bbox": null,
          "kind": "callout",
          "text": "Adapting the Nintendo library for smartphones could profoundly alter the complexion of the \"attention share\" currently occupied by Facebook, WhatsApp, and mobile games developers.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Callout",
              "slug": "callout",
              "status": "active",
              "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2",
              "version": 1,
              "description": "Highlighted callout box."
            },
            "tool": {
              "name": "Visual emphasis",
              "slug": "visual-emphasis",
              "status": "active",
              "bestFor": null,
              "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c",
              "version": 1,
              "bodyDocId": null,
              "description": "Drawing the eye to one element above the rest of the slide.",
              "familyLabel": null
            },
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-04-22 22:50:09+00",
            "model": "unknown-legacy",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "019dd952-ee36-760b-92a0-c147e4986c35",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.08,
            "w": 0.76,
            "x": 0.12,
            "y": 0.56
          },
          "kind": "paragraph",
          "text": "I was prompted to write this follow up, open letter to you after analyzing Facebook's purchase of WhatsApp for $19 billion. We believe that Facebook's decision demonstrates the value placed on maintaining supremacy in the limited pool of mobile social interaction.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.294+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3e37a67e-d287-4b15-a01e-27379524f0d7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.76,
            "x": 0.12,
            "y": 0.41
          },
          "kind": "paragraph",
          "text": "Oasis, a private investment fund management company, is an advisor to entities that are the beneficial owners of shares of Nintendo Co. Ltd.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.294+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "802382ac-4667-4902-9e84-176b3ec4027f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.12,
            "w": 0.43,
            "x": 0.12,
            "y": 0.21
          },
          "kind": "paragraph",
          "text": "February 26, 2014. Mr. Satoru Iwata, President and CEO, Nintendo Co., Ltd.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.294+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b4f2e7dd-3825-4215-b82c-d997eca1d948",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.76,
            "x": 0.12,
            "y": 0.8
          },
          "kind": "paragraph",
          "text": "What Nintendo can learn from Netflix. In 2013, Netflix grew revenues by 21%, and the stock price increased by 296% - the best performer in the S&P 500.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.294+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b87ee04d-1ea8-4f83-abe3-66b3c1057270",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.08,
            "w": 0.76,
            "x": 0.12,
            "y": 0.64
          },
          "kind": "paragraph",
          "text": "According to media reports, users in many countries spend up to 25% of their time on smartphones using WhatsApp. As the holder of what is arguably the largest library of casual games, Nintendo is well placed to make an immediate entry into mobile.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.294+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c57f1cd4-aab0-4f70-bc7b-6a7f7ea6083a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.76,
            "x": 0.12,
            "y": 0.47
          },
          "kind": "paragraph",
          "text": "I am following up on my letter to you dated June 11, 2013, in which I wrote to you that as both customers and shareholders, Oasis would like to see Nintendo develop and sell games for the iOS and Android platforms.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.294+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f1bfe88f-50a5-4bd6-9e67-fac80a291370",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.24,
            "x": 0.38,
            "y": 0.03
          },
          "kind": "title",
          "text": "OASIS",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.294+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "21a884f6-1168-4e22-a115-e973820cc21f",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Storytelling: audience calibration",
            "slug": "audience",
            "status": "active",
            "bestFor": null,
            "canonId": "019df269-23ea-723a-87c0-af1d78d702d2",
            "version": 1,
            "bodyDocId": "019df269-23c5-72ec-8b94-78fc1da7b656",
            "description": "The same thesis, written for four different audiences, produces four",
            "familyLabel": "narrative-block",
            "categoryName": "Narrative & Transformation",
            "categorySlug": "narrative-transformation"
          },
          "agent": "storyteller",
          "layer": "slide",
          "agents": [
            "storyteller"
          ],
          "matchId": "895a9517-aa78-4f7e-a7a0-d163ae6c1b4b",
          "evidence": "OASIS",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.5,
          "extraction": {
            "at": "2026-07-16 22:55:53.554203+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 1,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 1,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 1,
          "name": "Situation & Context",
          "beatId": "a62a1c41-9547-46c6-9aeb-43cbaa6fde6c",
          "matchId": "41dec64c-4493-42b0-8ed7-ab9007ad323c",
          "beatType": {
            "name": "Situation & Context",
            "slug": "consultants-gambit-situation-context",
            "status": "active",
            "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3",
            "version": 1,
            "description": null
          },
          "evidence": "The opening slide 'OASIS' provides context",
          "position": 0,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Setup",
            "slug": "setup",
            "status": "active",
            "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc",
            "version": 1,
            "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "thumbSrc": "https://imgproxy.kitesheet.com/Qba7dgmJVXApH48-88r-H3lGMCBVqaGgxdEv9jtcLqs/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8xM2E5NmNmNTQyNWMvcDAwMS5qcGc",
      "imagePathAlt": "https://imgproxy.kitesheet.com/RrQ0FblCY71djme5lhnmUwryRaafqTl_9FD6RTN8oEs/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8xM2E5NmNmNTQyNWMvcDAwMS5wbmc",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/kKocourNNCk6r5BpYM4v7n8lBvVV43i2NcJmBGSrGrE/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8xM2E5NmNmNTQyNWMvcDAwMS5wbmc"
    },
    {
      "page": 2,
      "type": "analysis",
      "title": "This is a page from an activist investor letter (likely from Seth Fischer of Oasis Management) to Satoru Iwata.",
      "function": "diagnose_problem",
      "rawType": "executive_summary",
      "block": null,
      "metadata": {
        "slideType": "executive_summary",
        "slideTypeCanon": {
          "name": "Executive summary",
          "slug": "executive_summary",
          "status": "active",
          "canonId": "019de52d-06be-73ff-81b3-f99fe7f0025e",
          "version": 1,
          "description": null
        },
        "function": "diagnose_problem",
        "functionCanon": {
          "name": "Diagnose problem",
          "slug": "diagnose_problem",
          "status": "active",
          "canonId": "019de52d-176d-761f-b608-cf52262d2ab2",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 74,
        "componentCount": 9,
        "textChars": 878,
        "nDataPoints": 6,
        "notes": "This is a page from an activist investor letter (likely from Seth Fischer of Oasis Management) to Satoru Iwata.",
        "elementsJson": [
          "paragraph"
        ],
        "confidence": 0.95,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 20:56:00.861+00",
          "seconds": 6.749,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019dd923-622b-71dc-a6dd-39d1f1dbbec5/2",
        "deck": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5",
        "deckAnchor": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5#slide-2",
        "deckJson": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5.json"
      },
      "components": [
        {
          "bbox": null,
          "kind": "callout",
          "text": "We do not believe it is a question of content, but a question of delivery.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Callout",
              "slug": "callout",
              "status": "active",
              "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2",
              "version": 1,
              "description": "Highlighted callout box."
            },
            "tool": {
              "name": "Visual emphasis",
              "slug": "visual-emphasis",
              "status": "active",
              "bestFor": null,
              "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c",
              "version": 1,
              "bodyDocId": null,
              "description": "Drawing the eye to one element above the rest of the slide.",
              "familyLabel": null
            },
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-04-22 22:50:09+00",
            "model": "unknown-legacy",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "019dd952-ee36-760b-92a1-01eb2b6b032c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.2,
            "x": 0.1,
            "y": 0.05
          },
          "kind": "paragraph",
          "text": "Mr. Satoru Iwata February 26, 2014 Page 2 of 3",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:56:00.861+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1911f098-cfb3-4162-b753-13d3e7bcc118",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.8,
            "x": 0.1,
            "y": 0.53
          },
          "kind": "paragraph",
          "text": "King Digital has 500 million installs, 1.2 billion daily game plays, and $568 million in 2013 net income on $15 million in capital expenditure.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:56:00.861+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4bee9021-957a-403a-967f-4c006f96192b",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.8,
            "x": 0.1,
            "y": 0.12
          },
          "kind": "paragraph",
          "text": "The accessibility of the content is of equal importance... Nintendo's analogue to Netflix's House of Cards is the Mario franchise.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:56:00.861+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6a445563-e957-4394-9eba-274b5097ddd1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.2,
            "w": 0.8,
            "x": 0.1,
            "y": 0.28
          },
          "kind": "paragraph",
          "text": "Nintendo needs to embrace this thematic change... The WiiU price cut of $50 last September has done little to increase unit shipments.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:56:00.861+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7e90c9d0-6edc-49ef-826b-0d47bceac71e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.8,
            "x": 0.1,
            "y": 0.73
          },
          "kind": "paragraph",
          "text": "I proposed that Nintendo sell its games in the App Store and Google Play. Nintendo management has continued to tie its future to hardware sales despite compelling evidence of consumer demand.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:56:00.861+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d9a16d47-e0ce-479d-81d8-386caa089f68",
          "parentComponentId": null
        },
        {
          "bbox": null,
          "kind": "quote",
          "text": "what I want, when I want it, and on the device I want to use — Anonymous consumer (referenced by Oasis Management)",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Quote",
              "slug": "quote",
              "status": "active",
              "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a",
              "version": 1,
              "description": "Pull quote or testimonial."
            },
            "tool": {
              "name": "Authority citation",
              "slug": "authority-citation",
              "status": "active",
              "bestFor": null,
              "canonId": "019dd9e1-49ae-7557-89ad-3fca70469b45",
              "version": 1,
              "bodyDocId": null,
              "description": "Quoting an authority figure, study, or precedent to lend weight.",
              "familyLabel": null
            },
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-04-22 22:50:09+00",
            "model": "unknown-legacy",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "019dd952-ee36-760b-92a1-05de125825b9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.4,
            "x": 0.1,
            "y": 0.49
          },
          "kind": "title",
          "text": "Candy Crush-ing Casual Consoles",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:56:00.861+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7869ea32-79ed-4766-9a77-7824f417ddd2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.2,
            "x": 0.1,
            "y": 0.69
          },
          "kind": "title",
          "text": "Need for Change",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:56:00.861+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "892d1722-1d1b-499a-b5b0-e131a9f365e8",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [
        {
          "matchId": "26faf8b9-3a7c-4775-8371-a7eaf173a68b",
          "evidence": "Comparing Nintendo's Mario franchise to Netflix's House of Cards to argue for platform-neutrality.",
          "framework": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-05-02 20:56:00.861+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 2,
          "frameworkName": "argument-from-analogy"
        }
      ],
      "arcBeats": [
        {
          "to": 2,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 2,
          "name": "Problem & Complication",
          "beatId": "1ab121f4-cfd3-4c30-9971-6f8b5f9f7841",
          "matchId": "41dec64c-4493-42b0-8ed7-ab9007ad323c",
          "beatType": {
            "name": "Problem & Complication",
            "slug": "consultants-gambit-problem-complication",
            "status": "active",
            "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4",
            "version": 1,
            "description": null
          },
          "evidence": "The executive summary likely outlines challenges faced by Nintendo",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Complication",
            "slug": "complication",
            "status": "active",
            "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
            "version": 1,
            "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 3,
          "from": 2,
          "loop": {
            "name": "27_cost_of_inaction",
            "slug": "27-cost-of-inaction",
            "status": "active",
            "bestFor": "Urgent budget requests, compliance, risk mitigation",
            "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
            "description": "Quantify what happens if the audience does nothing",
            "familyLabel": null
          },
          "matchId": "1a4789a5-8c79-467f-a7ac-2639fd64f5ad",
          "evidence": "The letter implies that not addressing challenges will negatively impact Nintendo",
          "position": 0,
          "objective": "What are the consequences of not adapting to market changes?",
          "confidence": 0.6,
          "extraction": {
            "at": "2026-07-16 21:56:50.796357+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 3,
      "type": "setup",
      "title": "This is the third page of a three-page letter.",
      "function": "closing_ask",
      "rawType": "closing_ask",
      "block": null,
      "metadata": {
        "slideType": "closing_ask",
        "slideTypeCanon": {
          "name": "Closing ask",
          "slug": "closing_ask",
          "status": "active",
          "canonId": "019de52d-0aa4-750f-8aa1-8d622dd99f5c",
          "version": 1,
          "description": null
        },
        "function": "closing_ask",
        "functionCanon": {
          "name": "Closing ask (contrarian)",
          "slug": "closing_ask",
          "status": "active",
          "canonId": "019de52d-18d2-7137-8c99-0a14eb350f0f",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 45,
        "componentCount": 5,
        "textChars": 891,
        "nDataPoints": 1,
        "notes": "This is the third page of a three-page letter.",
        "elementsJson": [
          "paragraph"
        ],
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 20:55:57.169+00",
          "seconds": 2.913,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019dd923-622b-71dc-a6dd-39d1f1dbbec5/3",
        "deck": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5",
        "deckAnchor": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5#slide-3",
        "deckJson": "/decks/019dd923-622b-71dc-a6dd-39d1f1dbbec5.json"
      },
      "components": [
        {
          "bbox": null,
          "kind": "callout",
          "text": "As a shareholder, we are asking Nintendo - for the sake of the company and for the sake of its IP remaining relevant - to embrace the change underway in the sector.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Callout",
              "slug": "callout",
              "status": "active",
              "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2",
              "version": 1,
              "description": "Highlighted callout box."
            },
            "tool": {
              "name": "Visual emphasis",
              "slug": "visual-emphasis",
              "status": "active",
              "bestFor": null,
              "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c",
              "version": 1,
              "bodyDocId": null,
              "description": "Drawing the eye to one element above the rest of the slide.",
              "familyLabel": null
            },
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-04-22 22:50:09+00",
            "model": "unknown-legacy",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "019dd952-ee36-760b-92a0-e63d5944cac3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.35,
            "w": 0.764,
            "x": 0.118,
            "y": 0.178
          },
          "kind": "paragraph",
          "text": "Additionally, we believe Nintendo should explore partnering with or acquiring an experienced development studio that has successful (Top 10 grossing) free-to-play games in order to lower the risk associated with such a transition.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.169+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2d6352cc-4c41-45e1-be9a-28033bea69d5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.35,
            "w": 0.764,
            "x": 0.118,
            "y": 0.53
          },
          "kind": "paragraph",
          "text": "I would welcome the opportunity to meet with you and discuss our ideas further. Sincerely yours, Seth Fischer Chief Investment Officer Oasis Management Company Ltd.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.169+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b66f524b-9ad7-4b31-8b07-ca71306c3348",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.25,
            "x": 0.118,
            "y": 0.078
          },
          "kind": "paragraph",
          "text": "Mr. Satoru Iwata February 26, 2014 Page 3 of 3",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.169+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d22a7d35-196c-4d69-9708-00303ee21625",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.764,
            "x": 0.118,
            "y": 0.418
          },
          "kind": "paragraph",
          "text": "Nintendo, as you have eloquently stated, is a company with a history of pivoting. Oasis believes that time has come again. As a shareholder, we are asking Nintendo - for the sake of the company and for the sake of its IP remaining relevant - to embrace the change underway in the sector.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 20:55:57.169+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "de676c34-9a47-4fca-8cf5-caf4409e7ebc",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 3,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 3,
          "name": "Impact & Next Steps",
          "beatId": "1df48b1c-c609-479b-bdb1-08427dc7c9be",
          "matchId": "41dec64c-4493-42b0-8ed7-ab9007ad323c",
          "beatType": {
            "name": "Impact & Next Steps",
            "slug": "consultants-gambit-impact-next-steps",
            "status": "active",
            "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655",
            "version": 1,
            "description": null
          },
          "evidence": "The closing ask on the last slide implies a call to action",
          "position": 2,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Resolution",
            "slug": "resolution",
            "status": "active",
            "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b",
            "version": 1,
            "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 3,
          "from": 2,
          "loop": {
            "name": "27_cost_of_inaction",
            "slug": "27-cost-of-inaction",
            "status": "active",
            "bestFor": "Urgent budget requests, compliance, risk mitigation",
            "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
            "description": "Quantify what happens if the audience does nothing",
            "familyLabel": null
          },
          "matchId": "1a4789a5-8c79-467f-a7ac-2639fd64f5ad",
          "evidence": "The letter implies that not addressing challenges will negatively impact Nintendo",
          "position": 0,
          "objective": "What are the consequences of not adapting to market changes?",
          "confidence": 0.6,
          "extraction": {
            "at": "2026-07-16 21:56:50.796357+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    }
  ],
  "arcBeats": [
    {
      "from": 1,
      "to": 1,
      "label": "Situation & Context",
      "description": "The opening slide 'OASIS' provides context"
    },
    {
      "from": 2,
      "to": 2,
      "label": "Problem & Complication",
      "description": "The executive summary likely outlines challenges faced by Nintendo"
    },
    {
      "from": 3,
      "to": 3,
      "label": "Impact & Next Steps",
      "description": "The closing ask on the last slide implies a call to action"
    }
  ],
  "loops": [
    {
      "from": 2,
      "to": 3,
      "label": "Cost Of Inaction",
      "description": "What are the consequences of not adapting to market changes?"
    }
  ]
}