{ "schemaVersion": "deck-intelligence.v1", "id": "019de06f-9c57-70b7-a960-5e29104b0ace", "slug": "90a4db0c7388c28300574aa51f10d4db", "title": "Goldman Sachs | Investment Banking Pitch Book | 12 slides", "subtitle": "Goldman Sachs · 2018-05", "author": "Goldman Sachs", "date": "2018-05-01 00:00:00", "pageCount": 12, "kind": "consulting-deck", "orientation": "landscape", "aspectRatio": 1.294673, "document": { "id": "019de06f-9c57-70b7-a960-5e29104b0ace", "slug": "90a4db0c7388c28300574aa51f10d4db", "title": "Goldman Sachs | Investment Banking Pitch Book | 12 slides", "rawTitle": "Goldman Sachs | Investment Banking Pitch Book | 12 slides", "authorId": "goldman-sachs", "authorName": "Goldman Sachs", "authorDisplay": "Goldman Sachs", "kind": { "slug": "consulting-deck", "label": "Consulting deck" }, "sourceType": { "slug": "investment_bank", "label": "Investment bank" }, "fileName": "2018-05__goldman-sachs__ib-pitchbook__90a4db0c.pdf", "sourceUrl": "https://www.slidebook.io/company/goldman-sachs/presentation/90a4db0c7388c28300574aa51f10d4db/", "sourceDate": "2018-05-01 00:00:00", "presentationDate": "2018-05-01 00:00:00", "ingestedAt": "2026-04-30 22:08:24.254716+00", "status": "ready", "pageCount": 12, "orientation": "landscape", "aspectRatio": 1.294673, "targetCompany": null, "targetTicker": null, "metadata": { "corpus": "slidebook", "industry": "capital-markets", "local_root": "/Users/miguelsuredasuau/Desktop/lalalalla/_scrape/slidebook/decks/2018-05__goldman-sachs__ib-pitchbook__90a4db0c", "image_width": 1920, "image_format": "jpg", "deck_type_raw": "Investment Banking Pitch Book", "deck_type_slug": null, "source_url_pattern": "https://www.slidebook.io/company/{company_slug}/presentation/{deck_id}/" } }, "coverage": { "pageCount": 12, "pagesIndexed": 12, "pagesWithImages": 12, "pagesWithMetadata": 12, "imageCoveragePct": 100, "metadataCoveragePct": 100, "componentCount": 60, "chartCount": 2, "metricSlides": 0, "toolMatches": 7, "documentToolMatches": 0, "frameworkMatches": 3, "arcMatches": 1, "beatMatches": 4, "loopMatches": 1, "patternMatches": 0, "storymakersMatch": false, "scoreAvailable": true, "reviewAvailable": true, "activistThesisAvailable": false, "pitchdeckMetadataAvailable": false, "pitchdeckProfileAvailable": false }, "blocks": [], "matches": { "arcs": [ { "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "evidence": "The deck's structure and content, including market size, financials, and solution, resemble the Sequoia Pitch arc.", "isPrimary": true, "confidence": 0.6, "extraction": { "at": "2026-07-16 22:06:48.372189+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "beats": [ { "to": 4, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 3, "name": "Problem", "beatId": "a799f68b-0997-4a38-a442-ee7b6fe136c4", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Problem", "slug": "sequoia-pitch-problem", "status": "active", "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311", "version": 1, "description": null }, "evidence": "The financial analysis and comparison of Series B Value indicate a problem or complication", "position": 0, "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": 0.6 }, { "to": 6, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 5, "name": "Financials", "beatId": "de03c088-195a-414d-a2d6-980048c9d0d3", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Financials", "slug": "sequoia-pitch-financials", "status": "active", "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75", "version": 1, "description": null }, "evidence": "The illustrative analysis at various implied GP share prices shows financial data", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.6 }, { "to": 11, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 10, "name": "Solution", "beatId": "ba501528-0308-4c98-8bd5-ada0cbabb48c", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The illustrative implied Series B Value provides a solution or conclusion", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.6 }, { "to": null, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": null, "name": "Market Size", "beatId": "0a16a8b0-9b3c-42b8-8360-5a0ba588d8e6", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Market Size", "slug": "sequoia-pitch-market-size", "status": "active", "canonId": "019dd9b8-20e6-729c-bc28-05442906d032", "version": 1, "description": null }, "evidence": null, "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.6 } ], "loops": [ { "to": 7, "from": 3, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null, "categoryName": "Consulting Framework", "categorySlug": "consulting-framework" }, "matchId": "9bb64511-8bd5-4451-8ce0-f25d2311392a", "evidence": "The financial analysis and data tables provide a detailed breakdown", "position": 0, "objective": "To break down the financial analysis into comparable components", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:06:48.541781+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "tools": [ { "tool": { "name": "Chart Selection Guide", "slug": "chart-selection-guide", "status": "active", "bestFor": null, "canonId": "019dd956-b1a0-700b-ba17-0e16c4d5bcae", "version": 1, "bodyDocId": null, "description": "Choosing the right chart type for your data and message", "familyLabel": null, "categoryName": "Slide", "categorySlug": "slide" }, "agent": "Designer", "layer": "slide", "agents": [ "Designer" ], "matchId": "b63b418d-a5f0-44b1-8198-c0625fbcb4f0", "evidence": "Comparison of Series B Value (Management vs Conversion Mechanism)", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:24:03.511147+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 3, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "54216427-18dc-4fcb-9b72-1f5b51934384", "evidence": "Calculation table comparing Cost of Equity across GP, Midstream, and Management Identified Comps using Duff & Phelps ERP.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:24:03.599571+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Status Quo Bias", "slug": "status-quo-bias", "status": "active", "bestFor": null, "canonId": "019dd956-8aba-7441-b871-e96b461529dc", "version": 1, "bodyDocId": null, "description": "Strong preference for current state - make change feel safe and reversible", "familyLabel": null, "categoryName": "Block", "categorySlug": "block" }, "agent": "Storyteller", "layer": "slide", "agents": [ "Storyteller" ], "matchId": "d69fb5e2-6107-445f-9c28-3e4a6b7326df", "evidence": "Status Quo GP Share Count", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:24:03.691043+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "dcc04276-a6eb-4e23-a4ce-e6690b238b95", "evidence": "Main sensitivity table showing equity value, shares, and share price across 8 scenarios.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:24:03.778747+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 6, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "056e4603-ed76-47de-99d1-2b9139eb494f", "evidence": "Main valuation table showing Pro Forma Equity Value, share counts, and Implied GP Share Price across various upside scenarios.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:24:03.86579+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 7, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "d5829f9c-2bab-48ff-a3e8-6bfc8a5ec066", "evidence": "table/data: Management Case Conversion into Pro Forma Market Cap table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:24:01.924723+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "178a23fb-a9ba-4ab6-8744-b59feb620e40", "evidence": "table/data: Reconciliation table with rows for Series B Dist Payable, Incremental Series B Dist, Total Series B Value, Series B Take, Annual Series B Threshold, Implied CF to IDR Holding LLC, Series B Dist, Implied GP Ca", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:24:02.139219+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "0c3b9e48-581b-4550-a2ed-d7e693aabcc2", "evidence": "Varying discount rates and terminal yields to observe impact on share price", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:19:13.931+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "frameworkName": "sensitivity_analysis" }, { "matchId": "3d558b79-f28a-40e3-86d0-14a451a5d4c0", "evidence": "Explicitly stated in title and table structure", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:19:17.578+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "frameworkName": "Dividend Discount Model" }, { "matchId": "34b13546-d075-4174-97b8-9778f97021ec", "evidence": "Explicitly stated in the slide title and subtitle.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:19:14.715+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 11, "frameworkName": "Dividend Discount Model" } ], "patterns": [] }, "storymakers": null, "score": { "backend": "codex", "scoredAt": "2026-05-02 23:57:49.59+00", "subScores": { "scqa_arc": 22, "action_titles": 10, "mece_structure": 48, "closing_strength": 10, "evidence_quality": 82, "clarity_of_thesis": 40, "production_quality": 60, "visual_storytelling": 68 }, "totalScore": 43, "coveragePct": 100, "explanations": { "scqa_arc": "The deck moves from cover and disclaimer directly into analysis on slide 3, so the situation and complication are implicit and the answer is never explicitly framed.", "action_titles": "Titles are almost entirely topic labels rather than insights, for example slide 3: \"Comparison of Series B Value\".", "mece_structure": "The core valuation materials cover methodologies, cost of equity, sensitivities, conversion, and reconciliation, but slides 6-7 and 10-11 overlap and the deck lacks an implication/recommendation lane.", "closing_strength": "The deck ends with appendix valuation support and reconciliation on slide 12 rather than a clear recommendation, decision, or next steps.", "evidence_quality": "Evidence is strong because claims are grounded in models, comparisons, sensitivities, and detailed data tables across slides 3-7 and 9-12.", "clarity_of_thesis": "The valuation topic is identifiable by slides 3-5, but no declarative central argument or recommendation is stated in the first five slides.", "production_quality": "Production appears consistent and banker-grade, but low action-title density, dense tables, appendix-heavy flow, and limited visible footnote discipline hold it back.", "visual_storytelling": "Slides 3-12 generally use appropriate financial tables, sensitivity matrices, charts, callouts, and annotations for valuation work, but the visuals serve calculation more than narrative emphasis." }, "slidesAnalyzed": 12 }, "review": { "backend": "claude", "verdict": "A textbook IB fairness-analysis working deck — quantitatively rigorous but narratively absent, and a weak Storymakers exemplar because it leads with models instead of the answer.", "reviewedAt": "2026-05-02 21:34:16.009+00", "slidesSeen": 12, "suggestions": [ "Insert an executive summary slide between disclaimer and slide 3 stating the implied Series B value range, the methodology Goldman recommends, and the gap vs. Management's case", "Rewrite every body title as an action title — e.g., slide 3 becomes 'Conversion-mechanic methodology yields a lower Series B value than Management's terminal-yield approach because of the mid-year discount convention'", "Add 2-3 section dividers reflecting MECE pillars (e.g., 'Methodology divergence', 'Sensitivity to discount rate', 'Implied valuation range') so the body has a visible spine", "Replace slide 12 with a 'Recommendation & next steps' close — what should the Committee decide, and what work follows", "Consolidate slides 6-7 into a single argument or give them distinct titles that name what each sensitivity proves" ], "closingScore": 22, "openingScore": 25, "topStrengths": [ "Slide 3 callouts do carry the substantive insight (mid-year vs year-end convention drives a 1.77 vs 1.84 discount factor) — the raw material for an action title is already on the page", "Clear two-act split between main analysis (3-7) and supporting appendix (8-12), even if pillars within each act are unlabeled", "Quantitative depth is high (84-150 data points per slide) — the analysis is there, just not narrativized" ], "topWeaknesses": [ "No executive summary or 'answer-first' slide anywhere in the first half — the Conflicts Committee cannot grasp the recommendation without reading every model", "Every body title is a noun phrase ('Comparison of...', 'Analysis of...') instead of a declarative insight", "Deck terminates on a reconciliation table (slide 12) with no synthesis, recommendation, or next steps", "Slides 6 and 7 share the same title with '(con't)' — a sign the content was paginated rather than designed as two distinct arguments" ], "narrativeScore": 32, "pillarCritique": "There is only one divider (slide 8, 'Appendix A'), so the body has no MECE pillar structure — slides 3-7 are a sequence of related sensitivity views rather than distinct, exhaustive arguments. Even within the appendix, slides 9-12 are not signposted as separate themes.", "closingCritique": "The deck ends on slide 12 with a 'Reconciliation from Series B Distributions to GP DPS' table — a working-paper artifact, not a close. There is no recommendation, no synthesized takeaway, no next-step ask for the Conflicts Committee.", "openingCritique": "The first 5 slides (Cover, Disclaimer, three dense valuation comparisons) never state a thesis or stake. A reader must infer from slide 3's callouts that the point is methodology divergence between Management's approach and the conversion mechanic — the answer is buried, not led with.", "extractionSeconds": 65.567, "narrativeCritique": "There is no story arc — after cover (1) and disclaimer (2), the deck plunges straight into financial models (3-7, 9-12) with no Situation/Complication framing, no question to answer, and no Resolution. It reads as an analytical dump of comparison tables rather than an SCQA narrative.", "titleQualityScore": 20, "titleQualityCritique": "Titles are almost entirely topic labels, not action titles — e.g., 'Cost of Equity Comparison' (slide 4), 'Illustrative Analysis at Various Implied GP Share Prices' (slides 6-7), 'Reconciliation from Series B Distributions to GP DPS' (slide 12). None state the finding (e.g., what the implied value actually is or which methodology the banker endorses)." }, "activistThesis": null, "pitchdeck": { "metadata": null, "profile": null }, "slides": [ { "page": 1, "type": "setup", "function": "front_matter", "imagePath": "https://imgproxy.kitesheet.com/EUcQRsoWHETy7JBilEp8FaytCWhB4F-S-MdhCVP_i6k/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy85MGE0ZGIwYzczODhjMjgzMDA1NzRhYTUxZjEwZDRkYi9wMDAxLmpwZw", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "dense", "densityScore": 64, "componentCount": 7, "textChars": 931, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:18.502+00", "seconds": 8.306, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/1", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-1", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.024, "w": 0.675, "x": 0.292, "y": 0.039 }, "kind": "disclaimer", "text": "PRELIMINARY CONFIDENTIAL DRAFT – FOR DISCUSSION PURPOSES ONLY", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:18.502+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0937ce75-553d-49c4-b97a-19c99ceafe2d", "parentComponentId": null }, { "bbox": { "h": 0.084, "w": 0.834, "x": 0.133, "y": 0.896 }, "kind": "disclaimer", "text": "PRIVATE AND CONFIDENTIAL. This document is being sent to you for your information only as an investment banking client of Goldman Sachs and should not be forwarded outside of your organization. This document has been prepared by the Investment Banking Division and is not a product of Goldman Sachs Global Investment Research. This document should not be used as a basis for trading in the securities or loans of the companies named herein or for any other investment decision. This document does not constitute an offer to sell the securities or loans of the companies named herein or a solicitation of proxies or votes and should not be construed as consisting of investment advice. Goldman Sachs does not provide accounting, tax, or legal advice.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:18.502+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "47910b59-28ae-4ee0-a82a-c4375f3888ad", "parentComponentId": null }, { "bbox": { "h": 0.156, "w": 0.108, "x": 0.044, "y": 0.072 }, "kind": "image", "text": "Goldman Sachs", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:18.502+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "777a75b4-df70-4cff-834c-4cc415cb61fa", "parentComponentId": null }, { "bbox": { "h": 0.024, "w": 0.138, "x": 0.133, "y": 0.635 }, "kind": "paragraph", "text": "May 1, 2018", "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 14:19:18.502+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8ca17681-7023-4fc2-9c45-d8eedde79714", "parentComponentId": null }, { "bbox": { "h": 0.032, "w": 0.242, "x": 0.133, "y": 0.287 }, "kind": "title", "text": "Project Francis", "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 14:19:18.502+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ba091fa1-7e4e-4690-9958-8f903b97300b", "parentComponentId": null }, { "bbox": { "h": 0.024, "w": 0.232, "x": 0.133, "y": 0.517 }, "kind": "title", "text": "Discussion Materials", "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": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:18.502+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4504635e-92d4-4e6d-8724-fb03fad75084", "parentComponentId": null }, { "bbox": { "h": 0.064, "w": 0.774, "x": 0.133, "y": 0.403 }, "kind": "title", "text": "Conflicts Committee of the Board of Directors of Arkose GP LLC", "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": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:18.502+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c7bb56fb-e8a0-4e97-b79a-3a0bb9e81eea", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "thumbSrc": "https://imgproxy.kitesheet.com/XfrBhn6VYxCH8JzHY0AOIMjlNqyk3kxSEFL75xs5CVk/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy85MGE0ZGIwYzczODhjMjgzMDA1NzRhYTUxZjEwZDRkYi9wMDAxLmpwZw", "imagePathAlt": "https://imgproxy.kitesheet.com/7Xh6fLR9u0oNhQ7g5COxAHh_BJtjjPSzsRxzsR-QFPo/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy85MGE0ZGIwYzczODhjMjgzMDA1NzRhYTUxZjEwZDRkYi9wMDAxLnBuZw", "thumbSrcAlt": "https://imgproxy.kitesheet.com/I4ETa2B5T98m4twRmjbJKLX4yJskTl6pxbVUL_zD8F0/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy85MGE0ZGIwYzczODhjMjgzMDA1NzRhYTUxZjEwZDRkYi9wMDAxLnBuZw" }, { "page": 2, "type": "setup", "function": "other", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "sparse", "densityScore": 9, "componentCount": 2, "textChars": 213, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:12.375+00", "seconds": 1.968, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/2", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-2", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.71, "w": 0.91, "x": 0.045, "y": 0.213 }, "kind": "disclaimer", "text": "These materials have been prepared and are provided by Goldman Sachs on a confidential basis solely for the information and assistance of the Conflicts Committee of Board of Directors of Arkose GP LLC...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:12.375+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a9caadff-edcf-4215-b6c8-8a10c90f4726", "parentComponentId": null }, { "bbox": { "h": 0.035, "w": 0.165, "x": 0.132, "y": 0.078 }, "kind": "title", "text": "Disclaimer", "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 14:19:12.375+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "95afb108-43af-4f6b-9774-e291609ba45a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 3, "type": "analysis", "title": "The slide compares two valuation models for Series B shares, specifically contrasting the discount factors used for terminal value (1.77 vs 1.84) due to mid-yea", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 59, "componentCount": 6, "textChars": 683, "nDataPoints": 28, "notes": "The slide compares two valuation models for Series B shares, specifically contrasting the discount factors used for terminal value (1.77 vs 1.84) due to mid-year vs year-end conventions.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:14.277+00", "seconds": 3.656, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/3", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-3", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.18, "w": 0.25, "x": 0.33, "y": 0.34 }, "kind": "callout", "text": "Management used an implied terminal yield methodology on Series B cash flows instead of the conversion mechanic as per the agreement", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.277+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6865ca3a-b4c8-47fb-bc58-da87b0c32290", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.64, "x": 0.33, "y": 0.81 }, "kind": "callout", "text": "Management calculates terminal value using mid-year convention resulting a in discount factor of 1.77. Conversion Mechanism Methodology calculates terminal value using a year-end methodology resulting in a discount factor of 1.84", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.277+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c6039bfb-b05f-409c-9adb-ca839628a928", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.28, "x": 0.06, "y": 0.3 }, "kind": "chart", "text": "Comparison of Series B Value (Management vs Conversion Mechanism)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Stacked bar chart", "slug": "bar-stacked", "status": "active", "canonId": "019de52c-feec-74bf-9028-15b74f84f0a7", "version": 1, "description": null }, "framework": null }, "subkind": "bar-stacked", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.277+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cec07dd9-dbbb-412b-b9a2-0dfa5bcce447", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.04, "y": 0.89 }, "kind": "source-note", "text": "Source: Arkose Projections, Wall Street research and Bloomberg market data as of 27-Apr-2018. Note: Series B value calculated as the PV of distributions through 2026 and the TV at year end 2026.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.277+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9eb08d0c-baf0-4f29-83cd-d9085129f732", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.33, "x": 0.64, "y": 0.25 }, "kind": "table", "text": "Calculation of Series B Value table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.277+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "800be266-df9c-44e1-9f44-a4a8800f9b3f", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.13, "y": 0.07 }, "kind": "title", "text": "Comparison of Series B Value", "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 14:19:14.277+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d3f90a5d-4dbb-4d23-8ea9-759ccbd66c54", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Chart Selection Guide", "slug": "chart-selection-guide", "status": "active", "bestFor": null, "canonId": "019dd956-b1a0-700b-ba17-0e16c4d5bcae", "version": 1, "bodyDocId": null, "description": "Choosing the right chart type for your data and message", "familyLabel": null, "categoryName": "Slide", "categorySlug": "slide" }, "agent": "Designer", "layer": "slide", "agents": [ "Designer" ], "matchId": "b63b418d-a5f0-44b1-8198-c0625fbcb4f0", "evidence": "Comparison of Series B Value (Management vs Conversion Mechanism)", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:24:03.511147+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 3, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 4, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 3, "name": "Problem", "beatId": "a799f68b-0997-4a38-a442-ee7b6fe136c4", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Problem", "slug": "sequoia-pitch-problem", "status": "active", "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311", "version": 1, "description": null }, "evidence": "The financial analysis and comparison of Series B Value indicate a problem or complication", "position": 0, "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": 0.6 } ], "loops": [ { "to": 7, "from": 3, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "9bb64511-8bd5-4451-8ce0-f25d2311392a", "evidence": "The financial analysis and data tables provide a detailed breakdown", "position": 0, "objective": "To break down the financial analysis into comparable components", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:06:48.541781+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 4, "type": "analysis", "title": "Includes red dashed annotations highlighting the Levered Beta value for the GP entity.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 59, "componentCount": 6, "textChars": 656, "nDataPoints": 84, "notes": "Includes red dashed annotations highlighting the Levered Beta value for the GP entity.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:13.325+00", "seconds": 2.676, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/4", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-4", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.75, "x": 0.13, "y": 0.88 }, "kind": "disclaimer", "text": "Source: Arkose Management Series B Valuation Analysis (26-Apr-2018), Axioma, Duff & Phelps and Bloomberg market data as of 27-Apr-2018. Note: Two year historical Levered Beta per Axioma. Risk Free Rate represents yield of 30-year U.S. Government Treasury Notes with 20 years remaining life. Equity Risk Premium per Duff & Phelps.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.325+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "619515b8-7e12-4e4b-bfb6-27a22ed9dfdb", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.08, "x": 0.38, "y": 0.28 }, "kind": "legend", "text": "Red dashed circles highlighting Levered Beta for GP.", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.325+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6e570e8d-22b5-4adf-a6dd-03439127b354", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.75, "x": 0.13, "y": 0.2 }, "kind": "table", "text": "Calculation table comparing Cost of Equity across GP, Midstream, and Management Identified Comps using Duff & Phelps ERP.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.325+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "00f1095c-5a72-4d2f-a45c-fdb7c8b80e11", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.75, "x": 0.13, "y": 0.66 }, "kind": "table", "text": "Growth Adjusted Yield table showing projections from 2018E to 2026E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.325+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "27b99696-d9cf-44e7-ae1b-046c3643f7e0", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.75, "x": 0.13, "y": 0.44 }, "kind": "table", "text": "Comparative Calculation table using KPMG Equity Risk Premium.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.325+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "aafb776f-a28c-4416-8ae2-a99abab8adae", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.13, "y": 0.07 }, "kind": "title", "text": "Cost of Equity Comparison", "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 14:19:13.325+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d6883f82-6a63-49d0-baa1-e79cc58a9857", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "54216427-18dc-4fcb-9b72-1f5b51934384", "evidence": "Calculation table comparing Cost of Equity across GP, Midstream, and Management Identified Comps using Duff & Phelps ERP.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:24:03.599571+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 4, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 3, "name": "Problem", "beatId": "a799f68b-0997-4a38-a442-ee7b6fe136c4", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Problem", "slug": "sequoia-pitch-problem", "status": "active", "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311", "version": 1, "description": null }, "evidence": "The financial analysis and comparison of Series B Value indicate a problem or complication", "position": 0, "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": 0.6 } ], "loops": [ { "to": 7, "from": 3, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "9bb64511-8bd5-4451-8ce0-f25d2311392a", "evidence": "The financial analysis and data tables provide a detailed breakdown", "position": 0, "objective": "To break down the financial analysis into comparable components", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:06:48.541781+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 5, "type": "analysis", "title": "The slide compares two discount rate scenarios (11.5% and 10.0%) across three terminal yield scenarios (8%, 10%, 12%).", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 5, "textChars": 407, "nDataPoints": 30, "notes": "The slide compares two discount rate scenarios (11.5% and 10.0%) across three terminal yield scenarios (8%, 10%, 12%).", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:13.931+00", "seconds": 3.068, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/5", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-5", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.45, "w": 0.75, "x": 0.13, "y": 0.32 }, "kind": "chart", "text": "Stacked bar charts showing PV of Distributions and PV of Terminal Value", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Stacked bar chart", "slug": "bar-stacked", "status": "active", "canonId": "019de52c-feec-74bf-9028-15b74f84f0a7", "version": 1, "description": null }, "framework": null }, "subkind": "bar-stacked", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.931+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c0a2abbb-056b-4801-b57c-d28fac4b6db4", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.72, "x": 0.15, "y": 0.78 }, "kind": "metric", "text": "GP Share Prices ($25.56, $22.52, $20.50, $28.18, $24.76, $22.49)", "attrs": null, "canon": { "kind": { "name": "Metric", "slug": "metric", "status": "active", "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d", "version": 1, "description": "Big-number or KPI value." }, "tool": null, "subkind": { "name": "Big number", "slug": "big-number", "status": "active", "canonId": "019de52c-fc70-70c8-b965-0584548a9204", "version": 1, "description": null }, "framework": null }, "subkind": "big-number", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.931+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1d1fd3ef-6381-4b44-b506-ac2532b19029", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.13, "y": 0.89 }, "kind": "source-note", "text": "Source: Arkose Projections, Wall Street research and Bloomberg market data as of 27-Apr-2018. Note: Series B value calculated as the PV of distributions through 2026 and the TV at year end 2026.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.931+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c4a4b1cb-6108-48f7-aaa9-69b53859f0e9", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.13, "y": 0.16 }, "kind": "title", "text": "Status Quo GP Share Count", "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": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.931+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e364137f-3dd4-4927-96ee-4177fd0c44d5", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.13, "y": 0.07 }, "kind": "title", "text": "Comparison of Series B Distribution on Terminal Value", "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 14:19:13.931+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cfade194-c54a-4f40-8d3e-7053bfa3734d", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Status Quo Bias", "slug": "status-quo-bias", "status": "active", "bestFor": null, "canonId": "019dd956-8aba-7441-b871-e96b461529dc", "version": 1, "bodyDocId": null, "description": "Strong preference for current state - make change feel safe and reversible", "familyLabel": null, "categoryName": "Block", "categorySlug": "block" }, "agent": "Storyteller", "layer": "slide", "agents": [ "Storyteller" ], "matchId": "d69fb5e2-6107-445f-9c28-3e4a6b7326df", "evidence": "Status Quo GP Share Count", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:24:03.691043+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "0c3b9e48-581b-4550-a2ed-d7e693aabcc2", "evidence": "Varying discount rates and terminal yields to observe impact on share price", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:19:13.931+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "frameworkName": "sensitivity_analysis" } ], "arcBeats": [ { "to": 6, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 5, "name": "Financials", "beatId": "de03c088-195a-414d-a2d6-980048c9d0d3", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Financials", "slug": "sequoia-pitch-financials", "status": "active", "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75", "version": 1, "description": null }, "evidence": "The illustrative analysis at various implied GP share prices shows financial data", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.6 } ], "loops": [ { "to": 7, "from": 3, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "9bb64511-8bd5-4451-8ce0-f25d2311392a", "evidence": "The financial analysis and data tables provide a detailed breakdown", "position": 0, "objective": "To break down the financial analysis into comparable components", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:06:48.541781+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 6, "type": "analysis", "title": "Includes a sensitivity table for Series B units based on 'take' percentage and market upside.", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 51, "componentCount": 6, "textChars": 428, "nDataPoints": 120, "notes": "Includes a sensitivity table for Series B units based on 'take' percentage and market upside.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:13.925+00", "seconds": 2.787, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/6", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-6", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.45, "x": 0.28, "y": 0.03 }, "kind": "disclaimer", "text": "PRELIMINARY CONFIDENTIAL DRAFT – FOR DISCUSSION PURPOSES ONLY", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.925+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a98eb602-1b85-4d86-8820-0942bcb9221e", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.6, "x": 0.13, "y": 0.16 }, "kind": "paragraph", "text": "Pro Forma Arkose GP + Midstream | Illustrative 1.6x Exchange Ratio", "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 14:19:13.925+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c778f189-62ee-40e5-a145-5150b3acbb95", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.5, "x": 0.05, "y": 0.86 }, "kind": "source-note", "text": "Source: Arkose Projections, Wall Street research and Bloomberg market data as of 27-Apr-2018", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.925+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f7f7a25a-f180-4150-91be-fedc345eec7b", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.21 }, "kind": "table", "text": "Main sensitivity table showing equity value, shares, and share price across 8 scenarios.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.925+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1fe4dde2-a622-4ad8-9f5b-ea6b8bb371b8", "parentComponentId": null }, { "bbox": { "h": 0.38, "w": 0.77, "x": 0.18, "y": 0.48 }, "kind": "table", "text": "Sensitivity tables for Series B units based on 'take' percentage.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.925+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9b3eec91-964b-43e4-b2f2-cfb2d196e4f1", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.13, "y": 0.07 }, "kind": "title", "text": "Illustrative Analysis at Various Implied GP Share Prices", "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 14:19:13.925+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "06593d98-afa0-48c5-91b6-c6e8e4c498b2", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "dcc04276-a6eb-4e23-a4ce-e6690b238b95", "evidence": "Main sensitivity table showing equity value, shares, and share price across 8 scenarios.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:24:03.778747+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 6, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 6, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 5, "name": "Financials", "beatId": "de03c088-195a-414d-a2d6-980048c9d0d3", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Financials", "slug": "sequoia-pitch-financials", "status": "active", "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75", "version": 1, "description": null }, "evidence": "The illustrative analysis at various implied GP share prices shows financial data", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.6 } ], "loops": [ { "to": 7, "from": 3, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "9bb64511-8bd5-4451-8ce0-f25d2311392a", "evidence": "The financial analysis and data tables provide a detailed breakdown", "position": 0, "objective": "To break down the financial analysis into comparable components", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:06:48.541781+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 7, "type": "analysis", "title": "Includes a primary valuation table and two sensitivity matrices for Series B issuance and value.", "function": "analyze_data", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 48, "componentCount": 5, "textChars": 544, "nDataPoints": 120, "notes": "Includes a primary valuation table and two sensitivity matrices for Series B issuance and value.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:17.734+00", "seconds": 6.292, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/7", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-7", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.86 }, "kind": "disclaimer", "text": "Source: Arkose Projections, Wall Street research and Bloomberg market data as of 27-Apr-2018. Note: Pro forma analysis assumes 1.1x coverage ratio in 2018 and 2019-2022 coverage ratios held constant to current standalone forecasts.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.734+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a0090c9c-f010-4279-b1ff-0e5030f2678a", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.22 }, "kind": "table", "text": "Main valuation table showing Pro Forma Equity Value, share counts, and Implied GP Share Price across various upside scenarios.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.734+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "237352e6-92d6-4c12-8388-133046ca36dc", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.75, "x": 0.18, "y": 0.7 }, "kind": "table", "text": "Sensitivity matrix for Implied Value of Series B Interest.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.734+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "78694fdd-f6a1-40ef-aef9-74dcb20308d9", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.75, "x": 0.18, "y": 0.5 }, "kind": "table", "text": "Sensitivity matrix for Implied # of GP Share Issued for Series B.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.734+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9d0593b8-85cc-45ca-aac2-0b394e3964f1", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.13, "y": 0.07 }, "kind": "title", "text": "Illustrative Analysis at Various Implied GP Share Prices (con't)", "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 14:19:17.734+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b6763dac-c6db-4039-b574-408f6d61fa7a", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "056e4603-ed76-47de-99d1-2b9139eb494f", "evidence": "Main valuation table showing Pro Forma Equity Value, share counts, and Implied GP Share Price across various upside scenarios.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:24:03.86579+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 7, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [ { "to": 7, "from": 3, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "9bb64511-8bd5-4451-8ce0-f25d2311392a", "evidence": "The financial analysis and data tables provide a detailed breakdown", "position": 0, "objective": "To break down the financial analysis into comparable components", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:06:48.541781+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 8, "type": "appendix", "function": "appendix", "rawType": "appendix", "block": null, "metadata": { "slideType": "appendix", "slideTypeCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-0762-71f8-b564-89ab863301cc", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "sparse", "densityScore": 9, "componentCount": 3, "textChars": 116, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:13.758+00", "seconds": 2.284, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/8", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-8", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.66, "x": 0.29, "y": 0.04 }, "kind": "disclaimer", "text": "PRELIMINARY CONFIDENTIAL DRAFT – FOR DISCUSSION PURPOSES ONLY", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.758+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "da12e4b1-5472-4452-8a87-f90a2300a485", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.11, "x": 0.04, "y": 0.07 }, "kind": "image", "text": "Goldman Sachs", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:13.758+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "42afabb2-71b9-4722-84cf-17734209a032", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.131, "y": 0.375 }, "kind": "title", "text": "Appendix A: Additional Reference Materials", "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 14:19:13.758+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dbb2a0c0-51d7-4fcf-abea-19e8f5bb9ae3", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 9, "type": "analysis", "title": "Includes a memo callout regarding illustrative assumptions and a supporting calculation for Pro Forma Share Count.", "function": "analyze_data", "rawType": "data_table", "block": null, "metadata": { "slideType": "data_table", "slideTypeCanon": { "name": "Data table", "slug": "data_table", "status": "active", "canonId": "019de52d-0bbd-71b9-9918-417f904abbf8", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 53, "componentCount": 6, "textChars": 501, "nDataPoints": 42, "notes": "Includes a memo callout regarding illustrative assumptions and a supporting calculation for Pro Forma Share Count.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:14.735+00", "seconds": 3.232, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/9", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-9", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.1, "x": 0.03, "y": 0.48 }, "kind": "callout", "text": "Memo: illustrative assumption", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.735+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1d38dfcb-7467-4028-a3d3-bc12550320fb", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.13, "y": 0.89 }, "kind": "disclaimer", "text": "Source: GP 424 B4 filing dated 05-May-2017 and GP IDR Holdings LLC Limited Liability Company Agreement dated 31-Dec-2016; Bloomberg market data as of 27-Apr-2018. 1 $19.63 20-trading day VWAP actual observed 20-day VWAP for 1-Sep-2017 – 29-Sep-2017.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.735+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "54af636c-96e5-4cb8-9ba0-4e36f2407cf3", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.38, "x": 0.13, "y": 0.22 }, "kind": "table", "text": "Series B Conversion Into Status Quo GP Shares table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.735+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "59e490c7-1dca-49d1-b7a0-8453b0037c44", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.38, "x": 0.55, "y": 0.2 }, "kind": "table", "text": "Management Case Conversion into Pro Forma Market Cap table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.735+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a94b35c3-d25e-4562-b208-78adc2c16c88", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.38, "x": 0.55, "y": 0.68 }, "kind": "table", "text": "Pro Forma Share Count (Illustrative) table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.735+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d6960387-50c5-4f9f-8fc9-cfb558997124", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.45, "x": 0.13, "y": 0.07 }, "kind": "title", "text": "Illustrative Conversion Calculation For Series B Units of Arkose IDR LLC", "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 14:19:14.735+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d1af4e78-6cc4-4f23-a095-cbcc716595bc", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "d5829f9c-2bab-48ff-a3e8-6bfc8a5ec066", "evidence": "table/data: Management Case Conversion into Pro Forma Market Cap table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:24:01.924723+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 10, "type": "analysis", "title": "The slide presents a detailed financial model including projections from 2018E to 2026E, calculating terminal value, discounted cash flows, and final implied Se", "function": "analyze_data", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 36, "componentCount": 5, "textChars": 279, "nDataPoints": 150, "notes": "The slide presents a detailed financial model including projections from 2018E to 2026E, calculating terminal value, discounted cash flows, and final implied Series B value.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:17.578+00", "seconds": 5.92, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/10", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-10", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.08, "x": 0.03, "y": 0.265 }, "kind": "callout", "text": "GP Shares outstanding: 186", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.578+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9940fddd-6cc7-4fda-b6bf-3e5582fa325b", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.5, "x": 0.13, "y": 0.12 }, "kind": "paragraph", "text": "Dividend Discount Model Through Series B Redemption in 2026 | ($ in millions)", "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 14:19:17.578+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "65f712da-0fd3-40f1-80ed-d98406a09795", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.4, "x": 0.13, "y": 0.88 }, "kind": "source-note", "text": "Source: Arkose Projections, Wall Street research and Bloomberg market data as of 27-Apr-2018", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.578+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e930b3b1-bbbd-467f-a0ff-b5027ef5914d", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.75, "x": 0.13, "y": 0.22 }, "kind": "table", "text": "Status Quo Series B Dividend Discount Model table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.578+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "24fb517f-52b7-4ebc-8132-4230c679efd8", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.13, "y": 0.07 }, "kind": "title", "text": "Illustrative Implied Series B Value", "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 14:19:17.578+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3c146a27-2bc3-4962-a6ac-bd68c8bd8497", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "3d558b79-f28a-40e3-86d0-14a451a5d4c0", "evidence": "Explicitly stated in title and table structure", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:19:17.578+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "frameworkName": "Dividend Discount Model" } ], "arcBeats": [ { "to": 11, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 10, "name": "Solution", "beatId": "ba501528-0308-4c98-8bd5-ada0cbabb48c", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The illustrative implied Series B Value provides a solution or conclusion", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.6 } ], "loops": [], "locked": true }, { "page": 11, "type": "analysis", "title": "The slide presents two distinct valuation sensitivity tables: one for Series B (PV of Distributions, PV of Terminal Value, and Total Value) and one for the Corr", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 45, "componentCount": 5, "textChars": 491, "nDataPoints": 75, "notes": "The slide presents two distinct valuation sensitivity tables: one for Series B (PV of Distributions, PV of Terminal Value, and Total Value) and one for the Corresponding GP (Implied Share Price).", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:14.715+00", "seconds": 2.88, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/11", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-11", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.4, "x": 0.13, "y": 0.12 }, "kind": "paragraph", "text": "Series B & GP Dividend Discount Model | ($ in millions)", "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 14:19:14.715+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "819ec2f4-be0d-4e93-b9bb-fbe65a271564", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.4, "x": 0.04, "y": 0.091 }, "kind": "source-note", "text": "Source: Arkose Projections, Wall Street research and Bloomberg market data as of 27-Apr-2018", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.715+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b2669d02-f33c-4b1f-b19f-7001616e787f", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.92, "x": 0.04, "y": 0.2 }, "kind": "table", "text": "Series B sensitivity table showing PV of Distributions, PV of Terminal Value, and Total Value across Cost of Equity (7.25%-12.50%) and Terminal Yield (8.0%-12.0%)", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.715+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4f4019d9-0406-43e3-8903-31004184b456", "parentComponentId": null }, { "bbox": { "h": 0.28, "w": 0.92, "x": 0.04, "y": 0.58 }, "kind": "table", "text": "Corresponding GP sensitivity table showing DDM Implied GP Share Price across Cost of Equity (7.25%-12.50%) and Terminal Yield (8.0%-12.0%)", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:14.715+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a7381b6a-4249-4c1e-8d3e-33b4a2441c42", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.13, "y": 0.07 }, "kind": "title", "text": "Illustrative Implied Series B Value (Cont'd)", "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 14:19:14.715+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "204b88c6-5095-40e8-84be-78d40eac444f", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "34b13546-d075-4174-97b8-9778f97021ec", "evidence": "Explicitly stated in the slide title and subtitle.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:19:14.715+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 11, "frameworkName": "Dividend Discount Model" } ], "arcBeats": [ { "to": 11, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 10, "name": "Solution", "beatId": "ba501528-0308-4c98-8bd5-ada0cbabb48c", "matchId": "de6a2857-fd93-4abf-a42c-1567ce51b71b", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The illustrative implied Series B Value provides a solution or conclusion", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.6 } ], "loops": [], "locked": true }, { "page": 12, "type": "analysis", "title": "Management Case Replication", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 40, "componentCount": 4, "textChars": 504, "nDataPoints": 126, "notes": "Management Case Replication", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:19:17.776+00", "seconds": 5.912, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-9c57-70b7-a960-5e29104b0ace/12", "deck": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace", "deckAnchor": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace#slide-12", "deckJson": "/decks/019de06f-9c57-70b7-a960-5e29104b0ace.json" }, "components": [ { "bbox": { "h": 0.02, "w": 0.45, "x": 0.28, "y": 0.03 }, "kind": "disclaimer", "text": "PRELIMINARY CONFIDENTIAL DRAFT – FOR DISCUSSION PURPOSES ONLY", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.776+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "86ffe830-19bb-4f8d-8d3d-8de5d556883c", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.4, "x": 0.05, "y": 0.91 }, "kind": "source-note", "text": "Source: Arkose Projections, Wall Street research and Bloomberg market data as of 27-Apr-2018", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.776+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "914d2844-4b8d-4a0f-b306-5920fd59292f", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.22 }, "kind": "table", "text": "Reconciliation table with rows for Series B Dist Payable, Incremental Series B Dist, Total Series B Value, Series B Take, Annual Series B Threshold, Implied CF to IDR Holding LLC, Series B Dist, Implied GP Cash Flow, G&A, Taxes, Total Implied 2026E GP DCF, GP Shares Outstanding, and Implied GP DPS.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:19:17.776+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "69b42158-5dee-4e74-9817-98d2cf55d689", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.11, "y": 0.75 }, "kind": "title", "text": "Reconciliation from Series B Distributions to GP DPS", "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 14:19:17.776+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6e3c4c45-1616-4aa5-9940-d59e03cbf5f3", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "178a23fb-a9ba-4ab6-8744-b59feb620e40", "evidence": "table/data: Reconciliation table with rows for Series B Dist Payable, Incremental Series B Dist, Total Series B Value, Series B Take, Annual Series B Threshold, Implied CF to IDR Holding LLC, Series B Dist, Implied GP Ca", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:24:02.139219+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true } ], "arcBeats": [ { "from": 3, "to": 4, "label": "Problem", "description": "The financial analysis and comparison of Series B Value indicate a problem or complication" }, { "from": 5, "to": 6, "label": "Financials", "description": "The illustrative analysis at various implied GP share prices shows financial data" }, { "from": 10, "to": 11, "label": "Solution", "description": "The illustrative implied Series B Value provides a solution or conclusion" } ], "loops": [ { "from": 3, "to": 7, "label": "Mece Breakdown", "description": "To break down the financial analysis into comparable components" } ] }