Blackwells Capital | Activist Presentation Deck | 71 slides

Blackwells Capital · 2022-04
arc beats above · slides in the middle · loops below · scroll → 3 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 5
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Deck intelligence map

4
coverage by narrative range · generated from this deck JSON

Slide inventory

71
every slide · same image gating as the playbook
01
Slide 1
front_matter
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front_matter
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This is a classic activist investor 'villain' framing slide, setting up the argument for leadership change.frame_problem
Open slide detailBeat · Situation & Context
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front_matter
Open slide detailBeat · Situation & Context
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summarize
Open slide detailBeat · Situation & Context
07
The slide uses a line chart to highlight a significant decline in shareholder value, paired with a table of key financial metrics.establish_context
Open slide detailBeat · Situation & Context
08
The slide uses a timeline-annotated line chart to correlate specific activist interventions and company actions with stock price volatility.expose_contradiction
Open slide detailBeat · Situation & Context
09
Uses a numbered list of three pillars to frame the critique of the current management and strategy.diagnose_problem
Open slide detailBeat · Situation & Context
10
The slide uses a numbered list format to present a strategic plan.summarize
Open slide detailBeat · Situation & Context
11
transition
Open slide detailBeat · Problem & Complication
12
Uses a lettered list (A-D) to categorize governance failures.name_villain
Open slide detailBeat · Problem & Complication
13
Uses a contrast-based argument to frame the dual-class structure as a governance failure.expose_contradiction
Open slide detailBeat · Problem & Complication
14
Uses quotes to illustrate the 'close alignment' mentioned in the thesis.expose_contradiction
Open slide detailBeat · Problem & Complication
15
Uses news clippings and quotes to build a narrative of financial instability.expose_contradiction
Open slide detailBeat · Problem & Complication
16
Uses a 'he said/she said' structure to highlight a contradiction between the Board's public statement and the CEO's private account.expose_contradiction
Open slide detailBeat · Problem & Complication
17
Uses a bar chart to highlight Peloton's outlier status in CEO compensation.expose_contradiction
Open slide detailBeat · Problem & Complication
18
Uses a bar chart to highlight the outlier status of the CEO's pay compared to peers and percentile rankings to emphasize the extremity.expose_contradiction
Open slide detailBeat · Problem & Complication
19
Uses a hub-and-spoke style network diagram to visualize conflicts of interest.expose_contradiction
Open slide detailBeat · Problem & Complication
20
Uses a table to correlate board members with negative TSR performance.name_villain
Open slide detailBeat · Problem & Complication
21
transition
Open slide detailBeat · Problem & Complication
22
Uses a lettered list format to categorize failures in management, strategy, and market credibility.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
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Uses a strikethrough on former titles and names to visually demonstrate lack of change.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
24
Uses a quote and visual cues (Netflix mailer) to undermine the executive's relevant experience.name_villain
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
25
Uses a quote-contradiction framework to undermine executive credibility.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
26
Uses peer benchmarking to highlight operational inefficiency and demonstrate that even after proposed cuts, Peloton remains an outlier.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
27
Uses external media quotes to undermine company claims of innovation.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
28
The slide uses a checkmark/cross comparison table to highlight feature parity and gaps.compare_peers
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
29
Uses a screenshot of a news article as primary evidence to support the activist thesis.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
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The chart highlights Peloton's significant underperformance (-37%) compared to its peers and the broader market.compare_peers
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
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Uses red dashed arrows to visually emphasize the negative trend across all four metrics.expose_contradiction
Open slide detailBeat · Problem & Complication
32
Uses a combination of bulleted list of concerns and pull-quotes from analysts and the CEO himself to build a case against leadership.expose_contradiction
Open slide detailBeat · Problem & Complication
33
Uses authority-citation to validate the activist thesis.cite_precedent
Open slide detailBeat · Problem & Complication
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Blackwells Capital branding present.front_matter
Open slide detailBeat · Solution & ApproachLoop · Quick Win Big Bet
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Uses a chevron-style transition graphic to imply evolution.present_solution
Open slide detailBeat · Solution & ApproachLoop · Quick Win Big Bet
36
The slide uses a hub-and-spoke diagram to visualize ecosystem integration.present_framework
Open slide detailBeat · Solution & ApproachLoop · Quick Win Big Bet
37
The slide uses a hub-and-spoke visual metaphor to connect the central 'FaaS' concept to four strategic pillars.propose_solution
Open slide detailBeat · Solution & ApproachLoop · Quick Win Big Bet
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propose_solution
Open slide detailBeat · Solution & ApproachLoop · Quick Win Big Bet
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propose_solution
Open slide detailBeat · Solution & ApproachLoop · Quick Win Big Bet
40
Uses a series of icons/logos to illustrate potential partnership verticals (gyms, telemedicine, food, social, gaming).propose_solution
Open slide detailBeat · Solution & ApproachLoop · Quick Win Big Bet
41
Uses WHO data to establish a TAM for a 'Fitness-as-a-Service' model.size_opportunity
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
42
The slide uses a specific precedent (Centr) to derive a hypothetical valuation for Peloton.cite_precedent
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
43
The slide uses screenshots of Strava and Peloton's existing social presence to contrast current engagement with potential platform growth.size_opportunity
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
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Uses a CNN Business article screenshot as a credibility anchor for the 'cult-like' brand status.propose_solution
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
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The slide uses a 'Big Data' thesis to justify a broader product ecosystem for Peloton.present_solution
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
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Uses a CEO quote to highlight the lack of strategic rigor in current pricing.expose_contradiction
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
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front_matter
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
48
The slide uses a column-based layout to present five distinct arguments for a sale.diagnose_problem
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
49
Uses survey data from Bespoke Market Intelligence to demonstrate brand strength.summarize
Open slide detailBeat · Solution & ApproachLoop · Pareto Focus
50
Uses a waterfall chart to bridge current value to a $75 target and a bar chart to show the subscriber gap.show_valuation_bridge
Open slide detailBeat · Solution & Approach
51
Includes company overview metrics and a value creation table based on member penetration rates.quantify_opportunity
Open slide detailBeat · Solution & Approach
52
The slide uses a case study format to justify a potential M&A target.illustrate_case
Open slide detailBeat · Solution & Approach
53
Includes a valuation bridge/scenario table for user penetration rates.propose_solution
Open slide detailBeat · Solution & Approach
54
This slide serves as a precedent for a potential acquisition strategy by highlighting Apple's successful integration of hardware and services.illustrate_case
Open slide detailBeat · Solution & Approach
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Includes a table of financial metrics and a sensitivity analysis of value creation based on user penetration rates.quantify_opportunity
Open slide detailBeat · Solution & Approach
56
The slide uses a combination of brand logos and UI screenshots to illustrate the ecosystem synergy.illustrate_case
Open slide detailBeat · Solution & Approach
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Includes financial data for Warner Bros. Discovery and SiriusXM as potential acquirers.quantify_opportunity
Open slide detailBeat · Solution & Approach
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The slide uses a logo grid to visually demonstrate the breadth of the WBD content portfolio.propose_solution
Open slide detailBeat · Solution & Approach
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Includes specific mention of board/leadership overlap (Jay Hoag, Barry McCarthy) as a strategic advantage.propose_solution
Open slide detailBeat · Solution & Approach
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Includes a screenshot of Netflix's investor materials to support the 'Content People Love' thesis.propose_solution
Open slide detailBeat · Solution & Approach
61
Includes a valuation bridge/scenario table for member penetration.quantify_opportunity
Open slide detailBeat · Solution & Approach
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Uses a screenshot of a fitness app interface to illustrate the potential digital ecosystem integration.illustrate_case
Open slide detailBeat · Solution & Approach
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propose_solution
Open slide detailBeat · Solution & Approach
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transition
Open slide detailBeat · Action
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The slide uses a structured comparison format to contrast current failures with the proposed alternative of a sale.summarize
Open slide detailBeat · Action
66
This is a classic activist investor 'villain' framing, positioning the CEO as the primary obstacle to value creation.frame_problem
Open slide detailBeat · Action
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appendix
Open slide detailBeat · Action
68
The slide uses a callout box to emphasize specific survey findings regarding purchase intentions for bikes and treads.summarize
Open slide detailBeat · Action
69
The table highlights gaps in Peloton's current digital offering compared to the broader market.compare_peers
Open slide detailBeat · Action
70
The table uses checkmarks to indicate presence in a category, with a 'Total' column summarizing the breadth of offerings per category.compare_peers
Open slide detailBeat · Action
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other
Open slide detailBeat · Action