{
  "schemaVersion": "deck-intelligence.v1",
  "id": "019f6b8e-e229-7535-a4da-414498c7d57f",
  "slug": "jarvis-45-ibd-presentation-2008-tercica-inc-lehman-brothers-1",
  "title": "45 IBD presentation 2008 Tercica Inc Lehman Brothers 1",
  "subtitle": "-ibd-presentation-2008-tercica-inc-lehman-brothers-1 · 2008-01",
  "author": "-ibd-presentation-2008-tercica-inc-lehman-brothers-1",
  "date": "2008-01-01 00:00:00",
  "pageCount": 28,
  "kind": "deck",
  "document": {
    "id": "019f6b8e-e229-7535-a4da-414498c7d57f",
    "slug": "jarvis-45-ibd-presentation-2008-tercica-inc-lehman-brothers-1",
    "title": "45 IBD presentation 2008 Tercica Inc Lehman Brothers 1",
    "rawTitle": "45 IBD presentation 2008 Tercica Inc Lehman Brothers 1",
    "authorId": "45-ibd-presentation-2008-tercica-inc-lehman-brothers-1",
    "authorName": null,
    "authorDisplay": "-ibd-presentation-2008-tercica-inc-lehman-brothers-1",
    "kind": {
      "slug": "deck",
      "label": "Deck"
    },
    "sourceType": {
      "slug": "investment_bank",
      "label": "Investment bank"
    },
    "fileName": "jarvis-45-ibd-presentation-2008-tercica-inc-lehman-brothers-1.pdf",
    "sourceUrl": "file://Jarvis_Resources/45-IBD-presentation-2008-Tercica-Inc-Lehman-Brothers-1.pdf",
    "sourceDate": null,
    "presentationDate": "2008-01-01 00:00:00",
    "ingestedAt": "2026-07-16 15:32:34.042752+00",
    "status": "ready",
    "pageCount": 28,
    "orientation": null,
    "aspectRatio": null,
    "targetCompany": null,
    "targetTicker": null,
    "metadata": {
      "corpus": "jarvis",
      "industry": null,
      "local_root": "/Users/miguelsuredasuau/Desktop/jarvis-staging/decks/jarvis-45-ibd-presentation-2008-tercica-inc-lehman-brothers-1",
      "image_width": 1995,
      "image_format": "jpg",
      "deck_type_raw": "ibd",
      "deck_type_slug": null,
      "source_url_pattern": null
    }
  },
  "coverage": {
    "pageCount": 28,
    "pagesIndexed": 28,
    "pagesWithImages": 28,
    "pagesWithMetadata": 28,
    "imageCoveragePct": 100,
    "metadataCoveragePct": 100,
    "componentCount": 115,
    "chartCount": 15,
    "metricSlides": 0,
    "toolMatches": 5,
    "documentToolMatches": 0,
    "frameworkMatches": 6,
    "arcMatches": 1,
    "beatMatches": 4,
    "loopMatches": 3,
    "patternMatches": 0,
    "storymakersMatch": false,
    "scoreAvailable": false,
    "reviewAvailable": false,
    "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": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
        "evidence": "The document follows a structured approach, similar to the Sequoia Pitch, with sections on problem, solution, market size, and valuation.",
        "isPrimary": true,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:18:06.602795+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "beats": [
      {
        "to": 5,
        "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": 4,
        "name": "Problem",
        "beatId": "a149d05d-c3bb-428b-9016-7bef0592bbe6",
        "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
        "beatType": {
          "name": "Problem",
          "slug": "sequoia-pitch-problem",
          "status": "active",
          "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311",
          "version": 1,
          "description": null
        },
        "evidence": "The document begins with an introduction and overview of the current indication of interest, setting the stage for the problem.",
        "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": 0.8
      },
      {
        "to": 7,
        "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": 6,
        "name": "Market Size",
        "beatId": "4224ec03-9ba1-4d4c-8d1b-2630794eaac5",
        "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
        "beatType": {
          "name": "Market Size",
          "slug": "sequoia-pitch-market-size",
          "status": "active",
          "canonId": "019dd9b8-20e6-729c-bc28-05442906d032",
          "version": 1,
          "description": null
        },
        "evidence": "The document presents a comparison table on the overview of current indication of interest, providing context for the market size.",
        "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": 0.8
      },
      {
        "to": 21,
        "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": 20,
        "name": "Solution",
        "beatId": "51be1868-a520-4daf-97e2-395e15ff0ed6",
        "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
        "beatType": {
          "name": "Solution",
          "slug": "sequoia-pitch-solution",
          "status": "active",
          "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
          "version": 1,
          "description": null
        },
        "evidence": "The document presents preliminary valuation considerations, outlining a potential solution for the acquisition.",
        "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": 0.8
      },
      {
        "to": 19,
        "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": 12,
        "name": "Financials",
        "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
        "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
        "beatType": {
          "name": "Financials",
          "slug": "sequoia-pitch-financials",
          "status": "active",
          "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
          "version": 1,
          "description": null
        },
        "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
        "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": 0.8
      }
    ],
    "loops": [
      {
        "to": 7,
        "from": 6,
        "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": "c7550b0d-f4c6-44d1-b8c1-12ce70f35bf2",
        "evidence": "The document presents a comparison table on the overview of current indication of interest, demonstrating a MECE breakdown of the valuation considerations.",
        "position": 0,
        "objective": "To break down the valuation considerations into a comprehensive analysis",
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:18:06.795641+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      },
      {
        "to": 21,
        "from": 20,
        "loop": {
          "name": "23_expert_witness",
          "slug": "23-expert-witness",
          "status": "active",
          "bestFor": "Technical validation, regulatory compliance, skeptical executives",
          "canonId": "019dd956-6f24-735e-aa4b-4ec8e0334778",
          "version": 1,
          "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
          "structure": "The Authority's Credentials -> Their Finding/Opinion -> Applied to Our Case",
          "description": "Borrow credibility from a recognized authority to validate your position",
          "familyLabel": null,
          "categoryName": "Validation",
          "categorySlug": "validation"
        },
        "matchId": "62f9d6ea-0d8f-4d4d-b25c-20581381e407",
        "evidence": "The document cites preliminary valuation considerations, indicating expert witness testimony.",
        "position": 1,
        "objective": "To provide expert insight into the valuation considerations",
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-16 23:18:06.835775+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      },
      {
        "to": 24,
        "from": 22,
        "loop": {
          "name": "31_waterfall_value",
          "slug": "31-waterfall-value",
          "status": "active",
          "bestFor": "Financial analysis, value bridges, variance explanations",
          "canonId": "019dd956-7282-712b-bae5-6daca6b5a1d3",
          "version": 1,
          "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
          "structure": "The Total -> Driver 1 Impact -> Driver 2 Impact -> Driver 3 Impact -> The Remainder",
          "description": "Break down a big number into its component drivers to show where value is created or lost",
          "familyLabel": null,
          "categoryName": "Consulting Framework",
          "categorySlug": "consulting-framework"
        },
        "matchId": "6b165bfa-a177-47af-ab87-16dc284d71db",
        "evidence": "The document presents a purchase price ratio analysis and comparable companies analysis, demonstrating a waterfall approach to valuation.",
        "position": 2,
        "objective": "To analyze the value of the company using a waterfall approach",
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-16 23:18:06.874006+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "tools": [
      {
        "tool": {
          "name": "Audience Definition",
          "slug": "audience-definition",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd956-7f2a-775d-aeee-ff099bcb7756",
          "version": 1,
          "bodyDocId": null,
          "description": "Six key questions: Who are they? What do they know? What do they believe? What do they care about? What do they fear? What decisions can they make?",
          "familyLabel": null,
          "categoryName": "Block",
          "categorySlug": "block"
        },
        "agent": "Storyteller",
        "layer": "slide",
        "agents": [
          "Storyteller"
        ],
        "matchId": "98e6fdc8-5512-4142-af70-3e9b19374a65",
        "evidence": "We are pleased to meet with the Board of Directors of Thunderbird (or the “Company”) to discuss strategic alternatives",
        "pageRefs": null,
        "priority": "Core",
        "whenToUse": null,
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-17 02:11:18.769424+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": "d25dd04b-4071-48d4-87f3-3c9ab6c93045",
        "evidence": "Implied Multiples table for Street Data and Mgt. Adj. Base",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-17 02:11:18.843219+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": "Waterfall chart",
          "slug": "waterfall-chart",
          "status": "active",
          "bestFor": null,
          "canonId": "e2799da3-725f-44a9-a093-570f1f388e64",
          "version": 1,
          "bodyDocId": null,
          "description": null,
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "cb28a43d-de7d-4de0-8b5d-b9bca526050d",
        "evidence": "chart/bar-grouped: Grouped bar chart showing NPV/Share for 40% and 60% POS at 15% and 20% discount rates for 2008E and 2010E.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 02:11:18.783422+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 15,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Waterfall / value bridge",
          "slug": "waterfall-bridge",
          "status": "active",
          "bestFor": null,
          "canonId": "019de52d-19c5-727e-8889-b0b361655fca",
          "version": 1,
          "bodyDocId": null,
          "description": null,
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "0f254eec-61ea-42fe-803b-edcb9d7640dc",
        "evidence": "chart/waterfall-bridge: Implied Current Equity Value Per Share",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 02:11:19.018023+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 21,
        "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": "28230fae-ad71-4841-a16d-f500ab3730a1",
        "evidence": "table/data: Current Equity Ownership, Equity Ownership @ $8.00/share, Equity Ownership Assuming Full Conversion tables",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 02:11:09.015152+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 28,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      }
    ],
    "frameworks": [
      {
        "matchId": "43132f10-c0b5-4c16-b55a-06f5039d032d",
        "evidence": "Standard presentation cover page structure",
        "framework": null,
        "confidence": 1,
        "extraction": {
          "at": "2026-07-16 19:36:43.303+00",
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 1,
        "frameworkName": "cover-slide"
      },
      {
        "matchId": "0262cfbe-9f2a-4635-898b-ec13c8c46ef0",
        "evidence": "The slide uses a structured table to compare strategic options across consistent criteria.",
        "framework": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-16 19:36:43.137+00",
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 7,
        "frameworkName": "comparison_frame"
      },
      {
        "matchId": "7439c2d0-d303-4f80-afb7-3b966583b8e3",
        "evidence": "Timeline grid mapping tasks/milestones to time periods",
        "framework": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 19:36:45.557+00",
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 14,
        "frameworkName": "gantt-chart"
      },
      {
        "matchId": "fc6e5cde-7e22-4e6d-9677-2e3cad89d1f8",
        "evidence": "Chart displays multiple valuation ranges side-by-side",
        "framework": null,
        "confidence": 0.95,
        "extraction": {
          "at": "2026-07-16 19:36:46.495+00",
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 21,
        "frameworkName": "valuation-football-field"
      },
      {
        "matchId": "1384ada8-6afc-434b-8ea6-d1e5eb2e0b96",
        "evidence": "Table presents equity value, enterprise value, and EV/Revenue multiples.",
        "framework": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-16 19:36:46.31+00",
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 22,
        "frameworkName": "valuation"
      },
      {
        "matchId": "279a855a-b05f-4bc2-b98f-fc4b73fe4ea9",
        "evidence": "The slide uses a standard comparable company analysis table to benchmark financial performance.",
        "framework": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-16 19:36:46.387+00",
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 23,
        "frameworkName": "comparison_frame"
      }
    ],
    "patterns": []
  },
  "storymakers": null,
  "score": null,
  "review": null,
  "activistThesis": null,
  "pitchdeck": {
    "metadata": null,
    "profile": null
  },
  "slides": [
    {
      "page": 1,
      "type": "setup",
      "function": "front_matter",
      "imagePath": "https://imgproxy.kitesheet.com/50N8ycHhadu9i69SfSEY7aj_hZtYNEtzINYoTJV3Uxg/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9qYXJ2aXMtNDUtaWJkLXByZXNlbnRhdGlvbi0yMDA4LXRlcmNpY2EtaW5jLWxlaG1hbi1icm90aGVycy0xL3AwMDEuanBn",
      "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": "balanced",
        "densityScore": 36,
        "componentCount": 5,
        "textChars": 116,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:43.303+00",
          "seconds": 2.637,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/1",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-1",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.42,
            "w": 0.88,
            "x": 0.06,
            "y": 0.48
          },
          "kind": "image",
          "text": null,
          "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": "Illustration",
              "slug": "illustration",
              "status": "active",
              "canonId": "019de52c-fe76-7772-a5ac-c0b7294d7615",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "illustration",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.303+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "13b39208-95ca-49b7-aecc-be40d6000cbe",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.15,
            "x": 0.79,
            "y": 0.93
          },
          "kind": "paragraph",
          "text": "Confidential Presentation",
          "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": null,
            "framework": null
          },
          "subkind": "disclaimer",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.303+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e27d8d5d-0e50-44e3-9c19-1e15bba7245d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.15,
            "x": 0.78,
            "y": 0.13
          },
          "kind": "paragraph",
          "text": "Investment Banking\nGlobal Healthcare Group\nApril 21, 2008",
          "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": null,
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.303+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a73b4d76-79c0-4d65-b16c-56d88fa13946",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.25,
            "x": 0.09,
            "y": 0.13
          },
          "kind": "title",
          "text": "LEHMAN BROTHERS",
          "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": "2026-07-16 19:36:43.303+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2cd27ff7-3b82-450d-a7d5-ace4c3bb6496",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.3,
            "x": 0.09,
            "y": 0.4
          },
          "kind": "title",
          "text": "Project Thunderbird",
          "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": "2026-07-16 19:36:43.303+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7453d212-c5e7-4965-8635-f2e7ed14cf1f",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [
        {
          "matchId": "43132f10-c0b5-4c16-b55a-06f5039d032d",
          "evidence": "Standard presentation cover page structure",
          "framework": null,
          "confidence": 1,
          "extraction": {
            "at": "2026-07-16 19:36:43.303+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 1,
          "frameworkName": "cover-slide"
        }
      ],
      "arcBeats": [],
      "loops": [],
      "thumbSrc": "https://imgproxy.kitesheet.com/PpMOmQyGnqEIkig9gmkyGQRDjDeozbvp5QUele7Lk7Y/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9qYXJ2aXMtNDUtaWJkLXByZXNlbnRhdGlvbi0yMDA4LXRlcmNpY2EtaW5jLWxlaG1hbi1icm90aGVycy0xL3AwMDEuanBn",
      "imagePathAlt": "https://imgproxy.kitesheet.com/XWRqqoJ5dJw7TYU0JhooOdcYWfW_wW2mZcBZ0d39Z68/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9qYXJ2aXMtNDUtaWJkLXByZXNlbnRhdGlvbi0yMDA4LXRlcmNpY2EtaW5jLWxlaG1hbi1icm90aGVycy0xL3AwMDEucG5n",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/NBrKnCnHZKakyuuAOR9idr7alB4QgRN4YgY8Wnq-ob4/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9qYXJ2aXMtNDUtaWJkLXByZXNlbnRhdGlvbi0yMDA4LXRlcmNpY2EtaW5jLWxlaG1hbi1icm90aGVycy0xL3AwMDEucG5n"
    },
    {
      "page": 2,
      "type": "setup",
      "function": "front_matter",
      "rawType": "table_of_contents",
      "block": null,
      "metadata": {
        "slideType": "table_of_contents",
        "slideTypeCanon": {
          "name": "Table of contents",
          "slug": "table_of_contents",
          "status": "active",
          "canonId": "019de52d-0643-721b-9b85-69676bb85cf8",
          "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": "sparse",
        "densityScore": 19,
        "componentCount": 3,
        "textChars": 135,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:42.686+00",
          "seconds": 1.908,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/2",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-2",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.02,
            "w": 0.045,
            "x": 0.866,
            "y": 0.155
          },
          "kind": "callout",
          "text": "Agenda",
          "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": "2026-07-16 19:36:42.686+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c71afc0b-cc79-46ac-8f67-36d40fdbf1c6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.165,
            "w": 0.35,
            "x": 0.084,
            "y": 0.205
          },
          "kind": "list",
          "text": "I. Introduction\nII. Status Quo Review\nIII. Preliminary Valuation Considerations\nIV. Potential Other Alternatives",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Numbered list",
              "slug": "numbered",
              "status": "active",
              "canonId": "019de52c-fcc0-7718-a284-a4250c805df2",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "numbered",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:42.686+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d3baf914-b7d2-4d08-9024-c8df243c6a12",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.035,
            "w": 0.228,
            "x": 0.084,
            "y": 0.103
          },
          "kind": "title",
          "text": "Table of Contents",
          "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": "2026-07-16 19:36:42.686+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6f5610e4-bcd2-40be-9073-89a486d215ab",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 3,
      "type": "setup",
      "function": "front_matter",
      "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": "front_matter",
        "functionCanon": {
          "name": "Front matter",
          "slug": "front_matter",
          "status": "active",
          "canonId": "019de52d-133d-73f0-9e26-201eda96b098",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 75,
        "componentCount": 6,
        "textChars": 2044,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:44.212+00",
          "seconds": 3.417,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/3",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-3",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.02,
            "w": 0.01,
            "x": 0.495,
            "y": 0.92
          },
          "kind": "other",
          "text": "1",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "other",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.212+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a5148d42-48dc-4352-b82e-9146c3e6f029",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.15,
            "x": 0.085,
            "y": 0.92
          },
          "kind": "other",
          "text": "LEHMAN BROTHERS",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "other",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.212+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "cbab1d44-d7f5-4aab-9eac-b1b7dae64244",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.83,
            "x": 0.085,
            "y": 0.21
          },
          "kind": "paragraph",
          "text": "The following pages contain material that was provided to the Board of Directors (the \"Board of Directors\") of Thunderbird Inc. (the \"Company\") by Lehman Brothers Inc. (\"Lehman Brothers\"). The accompanying material was compiled or prepared on a confidential basis solely for consideration by the Board of Directors and not with a view toward public disclosure under state and federal securities laws. The information contained in this material was obtained from the Company and other publicly available sources, and Lehman Brothers has relied upon such information without independent verification thereof. These materials are being provided in connection with Lehman Brothers' engagement with the Company and may not be used or relied upon for any purpose other than as specifically contemplated by a written agreement with Lehman Brothers.",
          "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": null,
            "framework": null
          },
          "subkind": "disclaimer",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.212+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "323787a9-2947-4774-a8e9-6a5932f683c0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.18,
            "w": 0.83,
            "x": 0.085,
            "y": 0.48
          },
          "kind": "paragraph",
          "text": "Any estimates and projections for the Company contained herein have been prepared by management of the Company or are based upon such estimates and projections. The projections contained herein may or may not be achieved and differences between projected results and those actually achieved may be material. No representation or warranty, expressed or implied, is made as to the accuracy or completeness of such information and nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future. Lehman Brothers assumes no obligation to update or otherwise revise these materials.",
          "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": null,
            "framework": null
          },
          "subkind": "disclaimer",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.212+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5f5462f3-32a8-4470-89a0-37ef6b806b3d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.83,
            "x": 0.085,
            "y": 0.69
          },
          "kind": "paragraph",
          "text": "Because this material was prepared for use in the context of an oral presentation to the Board of Directors, the material was not prepared to represent complete disclosure on a stand-alone basis or to comply with the disclosure standards set forth under state and federal securities laws, and, neither the Company nor Lehman Brothers nor any of their respective legal or financial advisors or accountants takes any responsibility for the accuracy or completeness of any of the material when used by persons other than the Board of Directors.",
          "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": null,
            "framework": null
          },
          "subkind": "disclaimer",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.212+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "76dfbbf7-50a5-42cf-8574-c2ee29f6ebd7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.15,
            "x": 0.085,
            "y": 0.105
          },
          "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": "2026-07-16 19:36:44.212+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4cbc3323-61fc-4afc-82d8-12890939018c",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 4,
      "type": "setup",
      "function": "transition",
      "rawType": "section_divider",
      "block": null,
      "metadata": {
        "slideType": "section_divider",
        "slideTypeCanon": {
          "name": "Section divider",
          "slug": "section_divider",
          "status": "active",
          "canonId": "019de52d-066a-7402-9554-6ae504999041",
          "version": 1,
          "description": null
        },
        "function": "transition",
        "functionCanon": {
          "name": "Transition",
          "slug": "transition",
          "status": "active",
          "canonId": "019de52d-1365-7149-92aa-66df859e75fd",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 1,
        "componentCount": 1,
        "textChars": 12,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:42.396+00",
          "seconds": 1.524,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/4",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-4",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.025,
            "w": 0.087,
            "x": 0.745,
            "y": 0.485
          },
          "kind": "title",
          "text": "Introduction",
          "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": "2026-07-16 19:36:42.396+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ecbd49e1-9ca2-4e07-8fe2-2431c885ad58",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 5,
          "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": 4,
          "name": "Problem",
          "beatId": "a149d05d-c3bb-428b-9016-7bef0592bbe6",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Problem",
            "slug": "sequoia-pitch-problem",
            "status": "active",
            "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311",
            "version": 1,
            "description": null
          },
          "evidence": "The document begins with an introduction and overview of the current indication of interest, setting the stage for the problem.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 5,
      "type": "setup",
      "title": "The slide outlines the agenda for the discussion, focusing on strategic alternatives, company outlook, valuation, and timing.",
      "function": "front_matter",
      "rawType": "agenda",
      "block": null,
      "metadata": {
        "slideType": "agenda",
        "slideTypeCanon": {
          "name": "Agenda",
          "slug": "agenda",
          "status": "active",
          "canonId": "019de52d-061b-7470-b138-3ffa5e612cce",
          "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": "overcrowded",
        "densityScore": 75,
        "componentCount": 6,
        "textChars": 708,
        "nDataPoints": 1,
        "notes": "The slide outlines the agenda for the discussion, focusing on strategic alternatives, company outlook, valuation, and timing.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:43.691+00",
          "seconds": 2.696,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/5",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-5",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.05,
            "w": 0.85,
            "x": 0.08,
            "y": 0.72
          },
          "kind": "list",
          "text": "Reviewing strategic alternatives is an iterative process and we look forward to working with Management and the Board to achieve the best outcome for unaffiliated stockholders",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.691+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1f6f8bd6-c0cc-43c5-a9a4-78b4d347ddc8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.85,
            "x": 0.08,
            "y": 0.26
          },
          "kind": "list",
          "text": "We understand that the Company has received a non-binding indication of interest from Dolphin to acquire 100% of the Company for $8.00 per share",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.691+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4f724c0a-2e47-489d-8130-41772a9a74a5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.22,
            "w": 0.82,
            "x": 0.11,
            "y": 0.43
          },
          "kind": "list",
          "text": "Range of strategic alternatives; Thunderbird’s current situation and outlook; Preliminary view of value; Timing considerations",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.691+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "54320c32-d3ea-4a6d-95e8-c2b92fb7049a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.85,
            "x": 0.08,
            "y": 0.36
          },
          "kind": "list",
          "text": "Prior to responding to Dolphin it is important to review and discuss the following:",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.691+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5e7480b6-aca6-4032-9623-d506df403f77",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.85,
            "x": 0.08,
            "y": 0.17
          },
          "kind": "paragraph",
          "text": "We are pleased to meet with the Board of Directors of Thunderbird (or the “Company”) to discuss strategic alternatives including the indication of interest from Dolphin",
          "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": null,
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.691+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9814bc7a-c7ba-4ad1-bb69-7066bce3741f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.25,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Introduction",
          "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": "2026-07-16 19:36:43.691+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c40afdfa-a14d-4526-980b-b81d54289563",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Audience Definition",
            "slug": "audience-definition",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd956-7f2a-775d-aeee-ff099bcb7756",
            "version": 1,
            "bodyDocId": null,
            "description": "Six key questions: Who are they? What do they know? What do they believe? What do they care about? What do they fear? What decisions can they make?",
            "familyLabel": null,
            "categoryName": "Block",
            "categorySlug": "block"
          },
          "agent": "Storyteller",
          "layer": "slide",
          "agents": [
            "Storyteller"
          ],
          "matchId": "98e6fdc8-5512-4142-af70-3e9b19374a65",
          "evidence": "We are pleased to meet with the Board of Directors of Thunderbird (or the “Company”) to discuss strategic alternatives",
          "pageRefs": null,
          "priority": "Core",
          "whenToUse": null,
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-17 02:11:18.769424+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": [],
      "arcBeats": [
        {
          "to": 5,
          "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": 4,
          "name": "Problem",
          "beatId": "a149d05d-c3bb-428b-9016-7bef0592bbe6",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Problem",
            "slug": "sequoia-pitch-problem",
            "status": "active",
            "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311",
            "version": 1,
            "description": null
          },
          "evidence": "The document begins with an introduction and overview of the current indication of interest, setting the stage for the problem.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 6,
      "type": "analysis",
      "title": "Includes valuation bridge, premia analysis, EV/Revenue multiples, and a 2-year stock price chart with volume.",
      "function": "analyze_data",
      "rawType": "comparison_table",
      "block": null,
      "metadata": {
        "slideType": "comparison_table",
        "slideTypeCanon": {
          "name": "Comparison table",
          "slug": "comparison_table",
          "status": "active",
          "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2",
          "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": 68,
        "componentCount": 6,
        "textChars": 356,
        "nDataPoints": 80,
        "notes": "Includes valuation bridge, premia analysis, EV/Revenue multiples, and a 2-year stock price chart with volume.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:43.856+00",
          "seconds": 2.803,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/6",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-6",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.25,
            "w": 0.42,
            "x": 0.51,
            "y": 0.49
          },
          "kind": "chart",
          "text": "2-Year Stock Price Chart with volume bars",
          "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": "Line chart",
              "slug": "line",
              "status": "active",
              "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "line",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.856+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4a5be1b9-8d8e-43ec-9f4b-b2c3b567fc5f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.4,
            "x": 0.08,
            "y": 0.86
          },
          "kind": "other",
          "text": "Source: FactSet, Wall Street Research, Company filings and Management estimates.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.856+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "76e7ee6b-3b72-4f0b-8827-6f71772af1c2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.42,
            "x": 0.08,
            "y": 0.49
          },
          "kind": "table",
          "text": "Implied Multiples table for Street Data and Mgt. Adj. Base",
          "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": "2026-07-16 19:36:43.856+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "605ea335-7429-4674-9dd4-bb94f3f3af57",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.22,
            "w": 0.42,
            "x": 0.51,
            "y": 0.18
          },
          "kind": "table",
          "text": "Premia table showing percentage differences for various time averages",
          "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": "2026-07-16 19:36:43.856+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f24ca491-ac63-44d9-b1ed-b076caa28648",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.18,
            "w": 0.42,
            "x": 0.08,
            "y": 0.18
          },
          "kind": "table",
          "text": "Value table comparing Current 4/18/2008 and Indication of 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": "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": "2026-07-16 19:36:43.856+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "232e64c4-1f56-43c1-a01e-1e04c685f840",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.45,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Overview of Current Indication of Interest",
          "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": "2026-07-16 19:36:43.856+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a142c745-911b-4aaa-924b-d47425ec6354",
          "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": "d25dd04b-4071-48d4-87f3-3c9ab6c93045",
          "evidence": "Implied Multiples table for Street Data and Mgt. Adj. Base",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-17 02:11:18.843219+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": 7,
          "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": 6,
          "name": "Market Size",
          "beatId": "4224ec03-9ba1-4d4c-8d1b-2630794eaac5",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Market Size",
            "slug": "sequoia-pitch-market-size",
            "status": "active",
            "canonId": "019dd9b8-20e6-729c-bc28-05442906d032",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents a comparison table on the overview of current indication of interest, providing context for the market size.",
          "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": 0.8
        }
      ],
      "loops": [
        {
          "to": 7,
          "from": 6,
          "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": "c7550b0d-f4c6-44d1-b8c1-12ce70f35bf2",
          "evidence": "The document presents a comparison table on the overview of current indication of interest, demonstrating a MECE breakdown of the valuation considerations.",
          "position": 0,
          "objective": "To break down the valuation considerations into a comprehensive analysis",
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 23:18:06.795641+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 7,
      "type": "setup",
      "title": "Lehman Brothers slide, likely from an M&A advisory deck.",
      "function": "compare_peers",
      "rawType": "comparison_table",
      "block": null,
      "metadata": {
        "slideType": "comparison_table",
        "slideTypeCanon": {
          "name": "Comparison table",
          "slug": "comparison_table",
          "status": "active",
          "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2",
          "version": 1,
          "description": null
        },
        "function": "compare_peers",
        "functionCanon": {
          "name": "Compare peers",
          "slug": "compare_peers",
          "status": "active",
          "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 14,
        "componentCount": 2,
        "textChars": 180,
        "nDataPoints": 0,
        "notes": "Lehman Brothers slide, likely from an M&A advisory deck.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:43.137+00",
          "seconds": 2.056,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/7",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-7",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.7,
            "w": 0.85,
            "x": 0.08,
            "y": 0.2
          },
          "kind": "table",
          "text": "Table comparing Status Quo, Product/Company Acquisition, Sale/Merger, To Dolphin, and Other Party across Description, Benefits, and Considerations.",
          "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": "2026-07-16 19:36:43.137+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a7a7b71e-8145-4372-9117-484ccdb5b86d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.4,
            "x": 0.08,
            "y": 0.08
          },
          "kind": "title",
          "text": "Summary of Strategic Alternatives",
          "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": "2026-07-16 19:36:43.137+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "827be899-a55e-486c-81d7-f9d196992580",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [
        {
          "matchId": "0262cfbe-9f2a-4635-898b-ec13c8c46ef0",
          "evidence": "The slide uses a structured table to compare strategic options across consistent criteria.",
          "framework": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-16 19:36:43.137+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 7,
          "frameworkName": "comparison_frame"
        }
      ],
      "arcBeats": [
        {
          "to": 7,
          "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": 6,
          "name": "Market Size",
          "beatId": "4224ec03-9ba1-4d4c-8d1b-2630794eaac5",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Market Size",
            "slug": "sequoia-pitch-market-size",
            "status": "active",
            "canonId": "019dd9b8-20e6-729c-bc28-05442906d032",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents a comparison table on the overview of current indication of interest, providing context for the market size.",
          "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": 0.8
        }
      ],
      "loops": [
        {
          "to": 7,
          "from": 6,
          "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": "c7550b0d-f4c6-44d1-b8c1-12ce70f35bf2",
          "evidence": "The document presents a comparison table on the overview of current indication of interest, demonstrating a MECE breakdown of the valuation considerations.",
          "position": 0,
          "objective": "To break down the valuation considerations into a comprehensive analysis",
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 23:18:06.795641+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 8,
      "type": "setup",
      "function": "transition",
      "rawType": "section_divider",
      "block": null,
      "metadata": {
        "slideType": "section_divider",
        "slideTypeCanon": {
          "name": "Section divider",
          "slug": "section_divider",
          "status": "active",
          "canonId": "019de52d-066a-7402-9554-6ae504999041",
          "version": 1,
          "description": null
        },
        "function": "transition",
        "functionCanon": {
          "name": "Transition",
          "slug": "transition",
          "status": "active",
          "canonId": "019de52d-1365-7149-92aa-66df859e75fd",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 1,
        "componentCount": 1,
        "textChars": 17,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:42.902+00",
          "seconds": 1.813,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/8",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-8",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.02,
            "w": 0.153,
            "x": 0.668,
            "y": 0.478
          },
          "kind": "title",
          "text": "Status Quo Review",
          "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": "2026-07-16 19:36:42.902+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6de073db-e39b-422c-8478-3c79780efe1b",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 9,
      "type": "setup",
      "title": "Includes a specific 'Dolphin Indication of Interest' price point and a 2-year average price marker.",
      "function": "compare_peers",
      "rawType": "comparison_table",
      "block": null,
      "metadata": {
        "slideType": "comparison_table",
        "slideTypeCanon": {
          "name": "Comparison table",
          "slug": "comparison_table",
          "status": "active",
          "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2",
          "version": 1,
          "description": null
        },
        "function": "compare_peers",
        "functionCanon": {
          "name": "Compare peers",
          "slug": "compare_peers",
          "status": "active",
          "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 49,
        "componentCount": 4,
        "textChars": 382,
        "nDataPoints": 6,
        "notes": "Includes a specific 'Dolphin Indication of Interest' price point and a 2-year average price marker.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:43.739+00",
          "seconds": 2.55,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/9",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-9",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.6,
            "w": 0.4,
            "x": 0.08,
            "y": 0.175
          },
          "kind": "chart",
          "text": "2-Year Stock Price Performance",
          "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": "Line chart",
              "slug": "line",
              "status": "active",
              "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "line",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.739+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "465884b9-14fb-49c1-8020-203a1d29e0fd",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.6,
            "w": 0.4,
            "x": 0.52,
            "y": 0.175
          },
          "kind": "chart",
          "text": "2-Year Relative Stock Price Performance",
          "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": "Line chart",
              "slug": "line",
              "status": "active",
              "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "line",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.739+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f7f00ef7-a051-4bff-9d1b-487dc69e1397",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.85,
            "x": 0.08,
            "y": 0.85
          },
          "kind": "other",
          "text": "Source: FactSet. Note: Small-Cap Biotech composite includes: ALNY, ANDS, AGEN, ARIA, ARQL, AVNR, CEGE, COLY, CTRX, CRIS, CYTK, DNDN, DSCO, DOVP, ENCY, ENZ, IMGN, INCY, INHX, ISPH, INGN, ISIS, KOSN, NSTK, NEOL, NRGN, NTMD, NUVO, PTIE, PANC, POZN, RNVS, SVNT, SGEN, SUFG, TRCA, TRMS, VXGN, VIAC.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:43.739+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f8e982fa-ef4b-4752-8d61-3333b8c81e56",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.3,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Relative Performance",
          "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": "2026-07-16 19:36:43.739+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2ff86a43-fac4-4f9e-8735-766fc2cac01d",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 10,
      "type": "analysis",
      "title": "Includes a pie chart for ratings, a bar chart for target prices, and two text boxes for bullish/bearish commentary.",
      "function": "analyze_data",
      "rawType": "comparison_table",
      "block": null,
      "metadata": {
        "slideType": "comparison_table",
        "slideTypeCanon": {
          "name": "Comparison table",
          "slug": "comparison_table",
          "status": "active",
          "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2",
          "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": 71,
        "componentCount": 6,
        "textChars": 449,
        "nDataPoints": 16,
        "notes": "Includes a pie chart for ratings, a bar chart for target prices, and two text boxes for bullish/bearish commentary.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:44.016+00",
          "seconds": 2.577,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/10",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-10",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.25,
            "w": 0.4,
            "x": 0.52,
            "y": 0.21
          },
          "kind": "chart",
          "text": "Target Stock Prices bar chart",
          "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": "Vertical bar chart",
              "slug": "bar-vertical",
              "status": "active",
              "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-vertical",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.016+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f93996b6-1f31-44ac-b184-94c93d3ee894",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.4,
            "x": 0.08,
            "y": 0.21
          },
          "kind": "chart",
          "text": "Ratings pie chart showing 71% Buy and 29% Neutral",
          "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": "Pie chart",
              "slug": "pie",
              "status": "active",
              "canonId": "019de52c-ffdb-71bb-a800-5c5ab9f1c373",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "pie",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.016+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2d16f934-9a73-4edd-a075-8c47877a5b79",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.8,
            "x": 0.08,
            "y": 0.85
          },
          "kind": "other",
          "text": "Source: Wall Street Research, Bloomberg and FactSet.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.016+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b808fbe0-ea98-4ff1-978d-eaf7ee8d5b05",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.4,
            "x": 0.52,
            "y": 0.57
          },
          "kind": "paragraph",
          "text": "Bearish Commentary: Because we do not expect a faster-than-expected uptick in Somatuline, the next possible positive event for the stock is data from trial MS-301.",
          "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": null,
            "framework": null
          },
          "subkind": "description",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.016+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9dbff5b8-e220-4602-9845-8a3f2c78c5e0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.4,
            "x": 0.08,
            "y": 0.57
          },
          "kind": "paragraph",
          "text": "Bullish Commentary: Thunderbird is well-positioned to grow its top line through two approved products in the endocrine setting.",
          "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": null,
            "framework": null
          },
          "subkind": "description",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.016+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ab85feec-8360-425c-8a01-0e468160ba5d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.4,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Equity Research Analyst Views",
          "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": "2026-07-16 19:36:44.016+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7913eeac-b84c-4a72-a4e1-0dfadb01e200",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 11,
      "type": "analysis",
      "title": "Includes a legend explaining color-coded variance between management estimates and Wall Street averages.",
      "function": "analyze_data",
      "rawType": "comparison_table",
      "block": null,
      "metadata": {
        "slideType": "comparison_table",
        "slideTypeCanon": {
          "name": "Comparison table",
          "slug": "comparison_table",
          "status": "active",
          "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2",
          "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": 56,
        "componentCount": 5,
        "textChars": 285,
        "nDataPoints": 150,
        "notes": "Includes a legend explaining color-coded variance between management estimates and Wall Street averages.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:44.218+00",
          "seconds": 2.269,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/11",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-11",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.05,
            "w": 0.35,
            "x": 0.08,
            "y": 0.77
          },
          "kind": "legend",
          "text": "Red text = Management estimates below Wall Street average; Green text = Management estimates above Wall Street average",
          "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": "legend",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.218+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "07f5de1a-657a-4dfa-8779-098cc582f9b2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.45,
            "x": 0.08,
            "y": 0.865
          },
          "kind": "other",
          "text": "Source: Wall Street Research, Bloomberg, FactSet and Thunderbird Management estimates.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.218+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "041efa8f-a1c3-417b-861b-9714f7b17c13",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.2,
            "w": 0.84,
            "x": 0.08,
            "y": 0.52
          },
          "kind": "table",
          "text": "Company Estimates 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": "2026-07-16 19:36:44.218+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6d77004f-4997-4d5f-84bf-c5a1d5b88e4c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.84,
            "x": 0.08,
            "y": 0.21
          },
          "kind": "table",
          "text": "Wall Street Equity Research Estimates 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": "2026-07-16 19:36:44.218+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7445c7db-9696-4ec5-8c41-9f22d01fabda",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.25,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Revenue Outlook",
          "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": "2026-07-16 19:36:44.218+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2c95106f-fcb8-4920-b273-592114ee96e4",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 12,
      "type": "analysis",
      "title": "The slide presents a multi-scenario financial model comparing revenue and net income outcomes.",
      "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": 46,
        "componentCount": 5,
        "textChars": 138,
        "nDataPoints": 40,
        "notes": "The slide presents a multi-scenario financial model comparing revenue and net income outcomes.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:44.485+00",
          "seconds": 2.33,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/12",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-12",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.25,
            "w": 0.84,
            "x": 0.08,
            "y": 0.23
          },
          "kind": "chart",
          "text": "Revenue",
          "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": "Grouped bar chart",
              "slug": "bar-grouped",
              "status": "active",
              "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-grouped",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.485+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "016db35d-599a-4c11-bdfa-4aaafb5013ca",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.84,
            "x": 0.08,
            "y": 0.54
          },
          "kind": "chart",
          "text": "Net Income / (Loss)",
          "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": "Grouped bar chart",
              "slug": "bar-grouped",
              "status": "active",
              "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-grouped",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.485+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "57ca7f73-5311-4698-9522-9fea72d9a335",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.45,
            "x": 0.28,
            "y": 0.5
          },
          "kind": "legend",
          "text": "Downside, Mgt. Adj. Base, Commercial Base, Upside",
          "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": "legend",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.485+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "667b0322-ac2e-49a2-96d3-03fee43eb567",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.2,
            "x": 0.08,
            "y": 0.87
          },
          "kind": "other",
          "text": "Source: Thunderbird Management estimates.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.485+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c534c8ca-9689-436d-bd43-ab8572d5aab2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.3,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Projection Assumptions",
          "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": "2026-07-16 19:36:44.485+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d2ee338a-bd04-4719-96b9-1966bac0677b",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 19,
          "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": 12,
          "name": "Financials",
          "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 13,
      "type": "appendix",
      "title": "Includes an annotation highlighting an estimated Q1/Q2 financing requirement for 2009.",
      "function": "analyze_data",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "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": 187,
        "nDataPoints": 20,
        "notes": "Includes an annotation highlighting an estimated Q1/Q2 financing requirement for 2009.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:44.515+00",
          "seconds": 2.244,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/13",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-13",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.1,
            "w": 0.15,
            "x": 0.4,
            "y": 0.45
          },
          "kind": "callout",
          "text": "Estimated Q1/Q2 financing requirement",
          "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": "2026-07-16 19:36:44.515+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "17eb9db7-0999-4f73-87f5-2ac79fccb4cd",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.65,
            "w": 0.85,
            "x": 0.08,
            "y": 0.00195
          },
          "kind": "chart",
          "text": "Projected Cash-on-Hand",
          "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": "Grouped bar chart",
              "slug": "bar-grouped",
              "status": "active",
              "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-grouped",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.515+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ae4e546f-cb69-4c9d-bfca-b3bf6ef1e5e8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.8,
            "x": 0.1,
            "y": 0.0081
          },
          "kind": "legend",
          "text": "Upside, Commercial Base, Management Adjusted Base, Downside",
          "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": "legend",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.515+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9d12ca1a-a532-4cee-b504-7acd0b937eb3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.2,
            "x": 0.08,
            "y": 0.87
          },
          "kind": "other",
          "text": "Source: Thunderbird Management estimates.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:44.515+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1aabf2f2-9363-49a7-a42a-c2aae48dbae8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.35,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Cash Balance from Operations",
          "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": "2026-07-16 19:36:44.515+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "27f42afb-628a-48bb-9c04-4aa5f6537578",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 19,
          "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": 12,
          "name": "Financials",
          "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 14,
      "type": "resolution",
      "title": "The slide uses a numbered legend system to map specific events to a timeline grid.",
      "function": "plan_implementation",
      "rawType": "timeline",
      "block": null,
      "metadata": {
        "slideType": "timeline",
        "slideTypeCanon": {
          "name": "Timeline",
          "slug": "timeline",
          "status": "active",
          "canonId": "019de52d-0851-75eb-b758-ea2965e7739a",
          "version": 1,
          "description": null
        },
        "function": "plan_implementation",
        "functionCanon": {
          "name": "Plan implementation",
          "slug": "plan_implementation",
          "status": "active",
          "canonId": "019de52d-14a2-77ea-b210-d6a95eed4823",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 49,
        "componentCount": 5,
        "textChars": 194,
        "nDataPoints": 15,
        "notes": "The slide uses a numbered legend system to map specific events to a timeline grid.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:45.557+00",
          "seconds": 3.185,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/14",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-14",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.285,
            "w": 0.816,
            "x": 0.092,
            "y": 0.228
          },
          "kind": "chart",
          "text": "Timeline grid showing products vs years 2008E-2011E with numbered markers",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "timeline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.557+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "84233cd3-f1d6-4eca-9ea9-b7c7e8d1bd1f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.315,
            "w": 0.824,
            "x": 0.084,
            "y": 0.575
          },
          "kind": "list",
          "text": "Detailed legend of milestones 1-15 grouped by product",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.557+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "166de7b8-c2bf-4cf7-802f-86e30bdedab1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.095,
            "x": 0.815,
            "y": 0.12
          },
          "kind": "other",
          "text": "Status Quo Review",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "annotation",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.557+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "366296b9-4115-4671-b482-900e84bfd6bb",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.26,
            "x": 0.084,
            "y": 0.868
          },
          "kind": "other",
          "text": "Source: Thunderbird Management estimates.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "annotation",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.557+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a1bd4d02-fbae-4940-9f8c-56dc9793e328",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.035,
            "w": 0.155,
            "x": 0.084,
            "y": 0.098
          },
          "kind": "title",
          "text": "Milestones",
          "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": "2026-07-16 19:36:45.557+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "11d786d6-f390-4996-b806-ced0244c2c93",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [
        {
          "matchId": "7439c2d0-d303-4f80-afb7-3b966583b8e3",
          "evidence": "Timeline grid mapping tasks/milestones to time periods",
          "framework": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 19:36:45.557+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 14,
          "frameworkName": "gantt-chart"
        }
      ],
      "arcBeats": [
        {
          "to": 19,
          "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": 12,
          "name": "Financials",
          "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 15,
      "type": "analysis",
      "title": "The slide uses a grouped bar chart to compare NPV/Share outcomes across two time periods, two POS scenarios (40% vs 60%), and two discount rates (15% vs 20%).",
      "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": "dense",
        "densityScore": 62,
        "componentCount": 5,
        "textChars": 466,
        "nDataPoints": 8,
        "notes": "The slide uses a grouped bar chart to compare NPV/Share outcomes across two time periods, two POS scenarios (40% vs 60%), and two discount rates (15% vs 20%).",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:45.071+00",
          "seconds": 2.63,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/15",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-15",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.35,
            "w": 0.8,
            "x": 0.08,
            "y": 0.48
          },
          "kind": "chart",
          "text": "Grouped bar chart showing NPV/Share for 40% and 60% POS at 15% and 20% discount rates for 2008E and 2010E.",
          "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": "Grouped bar chart",
              "slug": "bar-grouped",
              "status": "active",
              "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-grouped",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.071+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4d8ee2a3-f308-4ca1-aa3f-9c406384cd46",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.3,
            "x": 0.35,
            "y": 0.85
          },
          "kind": "legend",
          "text": "20% discount rate (dark green), 15% discount rate (orange)",
          "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": "legend",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.071+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "aee9fd5b-8800-488f-a09e-4c28c41832a7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.8,
            "x": 0.08,
            "y": 0.18
          },
          "kind": "list",
          "text": "Assumptions: Combo in SS and AGHD launched in US and EU in 2014; Peak sales of $1,150mm; Tax rate 35%; Discount rates 15% and 20%.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.071+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ffcdd6b9-4e70-4e65-9a92-54cf27441269",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.8,
            "x": 0.08,
            "y": 0.88
          },
          "kind": "other",
          "text": "Source: Lehman Brothers IBD estimates and Thunderbird Management estimates. 1. POS = Probability of Success.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.071+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b8792e44-5f6a-4407-82ab-9650710dbee1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.8,
            "x": 0.08,
            "y": 0.1
          },
          "kind": "title",
          "text": "Illustrative Impact of Combo Probability of Success on NPV/Share",
          "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": "2026-07-16 19:36:45.071+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "52a696ac-6d6c-4f91-86e3-46ca9fd3de9f",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Waterfall chart",
            "slug": "waterfall-chart",
            "status": "active",
            "bestFor": null,
            "canonId": "e2799da3-725f-44a9-a093-570f1f388e64",
            "version": 1,
            "bodyDocId": null,
            "description": null,
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "cb28a43d-de7d-4de0-8b5d-b9bca526050d",
          "evidence": "chart/bar-grouped: Grouped bar chart showing NPV/Share for 40% and 60% POS at 15% and 20% discount rates for 2008E and 2010E.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 02:11:18.783422+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 15,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 19,
          "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": 12,
          "name": "Financials",
          "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 16,
      "type": "analysis",
      "title": "Includes a table of CAGR sensitivities and a detailed data table for projected share prices and present values at 15% and 20% discount rates.",
      "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": "dense",
        "densityScore": 58,
        "componentCount": 5,
        "textChars": 339,
        "nDataPoints": 45,
        "notes": "Includes a table of CAGR sensitivities and a detailed data table for projected share prices and present values at 15% and 20% discount rates.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:45.067+00",
          "seconds": 2.598,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/16",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-16",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.35,
            "w": 0.8,
            "x": 0.08,
            "y": 0.21
          },
          "kind": "chart",
          "text": "Illustrative Stock Price Path",
          "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": "Area chart",
              "slug": "area",
              "status": "active",
              "canonId": "019de52c-ff89-71e0-911e-5cab78b90f53",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "area",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.067+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "974b43e1-9732-4df7-bdfb-9f4064c46fd7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.8,
            "x": 0.08,
            "y": 0.85
          },
          "kind": "other",
          "text": "Note: Assumes 1,440mm stock options and 0.360mm RSUs... Source: Present values apply illustrative 15% and 20% cost of equity...",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.067+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "864c83c8-ed94-4e6b-9755-87d882122193",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.8,
            "x": 0.08,
            "y": 0.16
          },
          "kind": "subtitle",
          "text": "Illustrative stock prices based on 2.00x - 4.50x two-year forward EV/Revenue multiples",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Subtitle",
              "slug": "subtitle",
              "status": "active",
              "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce",
              "version": 1,
              "description": "Header-zone supporting text near the title (= ex body.description with bbox)."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.067+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bb971e3f-b6c1-4938-afa8-0abe24381563",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.8,
            "x": 0.08,
            "y": 0.6
          },
          "kind": "table",
          "text": "Projected Share Price and Present 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": "2026-07-16 19:36:45.067+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "84f97705-43a5-4950-bceb-623b34f87b90",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.6,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Illustrative Projected Stock Prices – “Mgt Adj Base”",
          "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": "2026-07-16 19:36:45.067+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b1e05f52-2eab-4d3a-ba11-79ce11876037",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 19,
          "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": 12,
          "name": "Financials",
          "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 17,
      "type": "appendix",
      "title": "Includes detailed footnotes regarding stock options, RSUs, debt, and discount rates.",
      "function": "analyze_data",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "analyze_data",
        "functionCanon": {
          "name": "Analyze data",
          "slug": "analyze_data",
          "status": "active",
          "canonId": "019de52d-1590-7413-8c82-cc218cff40b4",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 56,
        "componentCount": 5,
        "textChars": 301,
        "nDataPoints": 45,
        "notes": "Includes detailed footnotes regarding stock options, RSUs, debt, and discount rates.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:45.368+00",
          "seconds": 2.534,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/17",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-17",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.35,
            "w": 0.85,
            "x": 0.08,
            "y": 0.2
          },
          "kind": "chart",
          "text": "Illustrative Stock Price Path",
          "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": "Area chart",
              "slug": "area",
              "status": "active",
              "canonId": "019de52c-ff89-71e0-911e-5cab78b90f53",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "area",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.368+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ffdff74d-89cd-4bf4-a323-8d1a73205389",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.85,
            "x": 0.08,
            "y": 0.84
          },
          "kind": "other",
          "text": "Note: Assumes 1,440mm stock options and 0.360mm RSUs granted to employees each year...",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "annotation",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.368+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7964850e-d9c9-4c29-a4e8-398b0fe232e7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.7,
            "x": 0.08,
            "y": 0.16
          },
          "kind": "subtitle",
          "text": "Illustrative stock prices based on 2.00x - 4.50x two-year forward EV/Revenue multiples",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Subtitle",
              "slug": "subtitle",
              "status": "active",
              "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce",
              "version": 1,
              "description": "Header-zone supporting text near the title (= ex body.description with bbox)."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "subtitle",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.368+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "979bb7a5-d779-4ffe-b1f9-32588316a7e3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.8,
            "x": 0.12,
            "y": 0.58
          },
          "kind": "table",
          "text": "Projected Share Price and Present 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": "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": "2026-07-16 19:36:45.368+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a5eb9039-f066-4181-927f-fa767c28c500",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.6,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Illustrative Projected Stock Prices – “Commercial Base”",
          "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": "2026-07-16 19:36:45.368+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "14dcbe08-6d13-412c-bfc5-0016aecf73d9",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 19,
          "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": 12,
          "name": "Financials",
          "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 18,
      "type": "analysis",
      "title": "Includes a sensitivity table for CAGR and a detailed table of projected share prices and present values at 15% and 20% discount rates.",
      "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": "dense",
        "densityScore": 58,
        "componentCount": 5,
        "textChars": 333,
        "nDataPoints": 45,
        "notes": "Includes a sensitivity table for CAGR and a detailed table of projected share prices and present values at 15% and 20% discount rates.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:45.258+00",
          "seconds": 2.394,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/18",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-18",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.35,
            "w": 0.85,
            "x": 0.08,
            "y": 0.21
          },
          "kind": "chart",
          "text": "Illustrative Stock Price Path",
          "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": "Area chart",
              "slug": "area",
              "status": "active",
              "canonId": "019de52c-ff89-71e0-911e-5cab78b90f53",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "area",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.258+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b04cecf7-b47d-4b7d-a11d-31bad45c36ed",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.85,
            "x": 0.08,
            "y": 0.84
          },
          "kind": "other",
          "text": "Note: Assumes 1,440mm stock options and 0.360mm RSUs... Source: Present values apply illustrative 15% and 20% cost of equity...",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.258+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f1b6fbd2-2caa-48b3-b732-9f7e61a2ec24",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.7,
            "x": 0.08,
            "y": 0.16
          },
          "kind": "subtitle",
          "text": "Illustrative stock prices based on 2.00x - 4.50x two-year forward EV/Revenue multiples",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Subtitle",
              "slug": "subtitle",
              "status": "active",
              "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce",
              "version": 1,
              "description": "Header-zone supporting text near the title (= ex body.description with bbox)."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "subtitle",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.258+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c2fac14c-1450-4dae-a4e2-58a326a632d2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.85,
            "x": 0.08,
            "y": 0.6
          },
          "kind": "table",
          "text": "Projected Share Price and Present 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": "2026-07-16 19:36:45.258+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5b90112a-e5dc-4dc3-bf0e-c1ed5bff2c40",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.5,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Illustrative Projected Stock Prices – “Upside”",
          "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": "2026-07-16 19:36:45.258+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c54dae5f-3325-4fb3-b97b-41a162c8c873",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 19,
          "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": 12,
          "name": "Financials",
          "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 19,
      "type": "analysis",
      "title": "Includes a table of CAGR sensitivities and a detailed table of projected share prices and present values at 15% and 20% discount rates.",
      "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": "dense",
        "densityScore": 58,
        "componentCount": 5,
        "textChars": 335,
        "nDataPoints": 45,
        "notes": "Includes a table of CAGR sensitivities and a detailed table of projected share prices and present values at 15% and 20% discount rates.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:45.794+00",
          "seconds": 2.821,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/19",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-19",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.35,
            "w": 0.85,
            "x": 0.08,
            "y": 0.21
          },
          "kind": "chart",
          "text": "Illustrative Stock Price Path",
          "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": "Area chart",
              "slug": "area",
              "status": "active",
              "canonId": "019de52c-ff89-71e0-911e-5cab78b90f53",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "area",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.794+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8f2c47d1-226e-4b4c-a50b-52685b7110db",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.85,
            "x": 0.08,
            "y": 0.84
          },
          "kind": "other",
          "text": "Note: Assumes 1,440mm stock options and 0.360mm RSUs... Source: Present values apply illustrative 15% and 20% cost of equity...",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.794+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "57cafab0-8599-494c-9b1a-b3ee9accb8cc",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.7,
            "x": 0.08,
            "y": 0.16
          },
          "kind": "subtitle",
          "text": "Illustrative stock prices based on 2.00x - 4.50x two-year forward EV/Revenue multiples",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Subtitle",
              "slug": "subtitle",
              "status": "active",
              "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce",
              "version": 1,
              "description": "Header-zone supporting text near the title (= ex body.description with bbox)."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "subtitle",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:45.794+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "97b3077b-ac16-4137-955c-fecfd603230c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.8,
            "x": 0.12,
            "y": 0.6
          },
          "kind": "table",
          "text": "Projected Share Price and Present 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": "2026-07-16 19:36:45.794+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f8172291-8d68-4849-bd44-2c700f6ebb2f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.5,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Illustrative Projected Stock Prices – “Downside”",
          "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": "2026-07-16 19:36:45.794+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b0a0d226-ffd5-4eb1-972f-1de13d562075",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 19,
          "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": 12,
          "name": "Financials",
          "beatId": "3d9509ed-9e04-4159-a2eb-a85a7d335a06",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials.",
          "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": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 20,
      "type": "setup",
      "function": "transition",
      "rawType": "section_divider",
      "block": null,
      "metadata": {
        "slideType": "section_divider",
        "slideTypeCanon": {
          "name": "Section divider",
          "slug": "section_divider",
          "status": "active",
          "canonId": "019de52d-066a-7402-9554-6ae504999041",
          "version": 1,
          "description": null
        },
        "function": "transition",
        "functionCanon": {
          "name": "Transition",
          "slug": "transition",
          "status": "active",
          "canonId": "019de52d-1365-7149-92aa-66df859e75fd",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 2,
        "componentCount": 1,
        "textChars": 36,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:44.933+00",
          "seconds": 1.626,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/20",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-20",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.02,
            "w": 0.413,
            "x": 0.457,
            "y": 0.481
          },
          "kind": "title",
          "text": "Preliminary Valuation Considerations",
          "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": "2026-07-16 19:36:44.933+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d1cff01c-81c1-4a1e-8ab7-8ea6a6a1811f",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 21,
          "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": 20,
          "name": "Solution",
          "beatId": "51be1868-a520-4daf-97e2-395e15ff0ed6",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Solution",
            "slug": "sequoia-pitch-solution",
            "status": "active",
            "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents preliminary valuation considerations, outlining a potential solution for the acquisition.",
          "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": 0.8
        }
      ],
      "loops": [
        {
          "to": 21,
          "from": 20,
          "loop": {
            "name": "23_expert_witness",
            "slug": "23-expert-witness",
            "status": "active",
            "bestFor": "Technical validation, regulatory compliance, skeptical executives",
            "canonId": "019dd956-6f24-735e-aa4b-4ec8e0334778",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Authority's Credentials -> Their Finding/Opinion -> Applied to Our Case",
            "description": "Borrow credibility from a recognized authority to validate your position",
            "familyLabel": null
          },
          "matchId": "62f9d6ea-0d8f-4d4d-b25c-20581381e407",
          "evidence": "The document cites preliminary valuation considerations, indicating expert witness testimony.",
          "position": 1,
          "objective": "To provide expert insight into the valuation considerations",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 23:18:06.835775+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 21,
      "type": "evidence",
      "title": "Includes specific valuation benchmarks against a current price of $5.63 and an indication of interest at $8.00.",
      "function": "cite_precedent",
      "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": "cite_precedent",
        "functionCanon": {
          "name": "Cite precedent",
          "slug": "cite_precedent",
          "status": "active",
          "canonId": "019de52d-142b-714b-86d4-58aad7b568ec",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 49,
        "componentCount": 4,
        "textChars": 353,
        "nDataPoints": 14,
        "notes": "Includes specific valuation benchmarks against a current price of $5.63 and an indication of interest at $8.00.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:46.495+00",
          "seconds": 2.898,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/21",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-21",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.45,
            "w": 0.85,
            "x": 0.08,
            "y": 0.21
          },
          "kind": "chart",
          "text": "Implied Current Equity Value Per Share",
          "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": "Waterfall bridge / value bridge",
              "slug": "waterfall-bridge",
              "status": "active",
              "canonId": "019de52d-0055-7469-ba67-a7f7a327dec1",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "waterfall-bridge",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:46.495+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9a92fa76-dd4f-4a2a-add1-caf95c991349",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.8,
            "x": 0.12,
            "y": 0.067
          },
          "kind": "list",
          "text": "52-Week Trading Range, Comparable Companies, Equity Research 12-Month Target Price, Premiums Paid Analysis, Precedent Transactions",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Comparison list",
              "slug": "comparison",
              "status": "active",
              "canonId": "019de52c-fce7-733e-99d3-030a104727bf",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "comparison",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:46.495+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f437ce1c-4385-4530-ab22-dd1da48c0ae6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.5,
            "x": 0.08,
            "y": 0.85
          },
          "kind": "source-note",
          "text": "Source: FactSet, Company filings and Thunderbird Management estimates, Wall Street Research. 1. Revenues included are from the Mgt Adj Base scenario.",
          "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": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:46.495+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "38b78ac2-65c6-420c-b0d2-0060b783821c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.4,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Preliminary Valuation Considerations",
          "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": "2026-07-16 19:36:46.495+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1b27b095-3dea-4b44-91e5-5e19e7d2ad26",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Waterfall / value bridge",
            "slug": "waterfall-bridge",
            "status": "active",
            "bestFor": null,
            "canonId": "019de52d-19c5-727e-8889-b0b361655fca",
            "version": 1,
            "bodyDocId": null,
            "description": null,
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "0f254eec-61ea-42fe-803b-edcb9d7640dc",
          "evidence": "chart/waterfall-bridge: Implied Current Equity Value Per Share",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 02:11:19.018023+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 21,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [
        {
          "matchId": "fc6e5cde-7e22-4e6d-9677-2e3cad89d1f8",
          "evidence": "Chart displays multiple valuation ranges side-by-side",
          "framework": null,
          "confidence": 0.95,
          "extraction": {
            "at": "2026-07-16 19:36:46.495+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 21,
          "frameworkName": "valuation-football-field"
        }
      ],
      "arcBeats": [
        {
          "to": 21,
          "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": 20,
          "name": "Solution",
          "beatId": "51be1868-a520-4daf-97e2-395e15ff0ed6",
          "matchId": "118694ac-7fcb-4fe4-94f4-33cf49efce9f",
          "beatType": {
            "name": "Solution",
            "slug": "sequoia-pitch-solution",
            "status": "active",
            "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents preliminary valuation considerations, outlining a potential solution for the acquisition.",
          "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": 0.8
        }
      ],
      "loops": [
        {
          "to": 21,
          "from": 20,
          "loop": {
            "name": "23_expert_witness",
            "slug": "23-expert-witness",
            "status": "active",
            "bestFor": "Technical validation, regulatory compliance, skeptical executives",
            "canonId": "019dd956-6f24-735e-aa4b-4ec8e0334778",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Authority's Credentials -> Their Finding/Opinion -> Applied to Our Case",
            "description": "Borrow credibility from a recognized authority to validate your position",
            "familyLabel": null
          },
          "matchId": "62f9d6ea-0d8f-4d4d-b25c-20581381e407",
          "evidence": "The document cites preliminary valuation considerations, indicating expert witness testimony.",
          "position": 1,
          "objective": "To provide expert insight into the valuation considerations",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 23:18:06.835775+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 22,
      "type": "analysis",
      "title": "Includes EV/Revenue multiples for 2008-2011 based on Street Data and Management Adjusted Base.",
      "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": 33,
        "componentCount": 3,
        "textChars": 212,
        "nDataPoints": 120,
        "notes": "Includes EV/Revenue multiples for 2008-2011 based on Street Data and Management Adjusted Base.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:46.31+00",
          "seconds": 2.398,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/22",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-22",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.03,
            "w": 0.5,
            "x": 0.08,
            "y": 0.85
          },
          "kind": "other",
          "text": "Source: Company filings, Thunderbird Management estimates, Factset and Wall Street research. Note: Market information as of April 18, 2008.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:46.31+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "baa8cb28-011b-4d43-ace5-b3a3ccee33ef",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.65,
            "w": 0.85,
            "x": 0.08,
            "y": 0.21
          },
          "kind": "table",
          "text": "Valuation Matrix for Thunderbird and Dolphin",
          "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": "2026-07-16 19:36:46.31+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c05abb0f-83e3-4209-9086-ea3c099edae1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.4,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Purchase Price Ratio Analysis",
          "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": "2026-07-16 19:36:46.31+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8e152d9e-e6d8-4790-9965-4ef9823d50c3",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [
        {
          "matchId": "1384ada8-6afc-434b-8ea6-d1e5eb2e0b96",
          "evidence": "Table presents equity value, enterprise value, and EV/Revenue multiples.",
          "framework": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-16 19:36:46.31+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 22,
          "frameworkName": "valuation"
        }
      ],
      "arcBeats": [],
      "loops": [
        {
          "to": 24,
          "from": 22,
          "loop": {
            "name": "31_waterfall_value",
            "slug": "31-waterfall-value",
            "status": "active",
            "bestFor": "Financial analysis, value bridges, variance explanations",
            "canonId": "019dd956-7282-712b-bae5-6daca6b5a1d3",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Total -> Driver 1 Impact -> Driver 2 Impact -> Driver 3 Impact -> The Remainder",
            "description": "Break down a big number into its component drivers to show where value is created or lost",
            "familyLabel": null
          },
          "matchId": "6b165bfa-a177-47af-ab87-16dc284d71db",
          "evidence": "The document presents a purchase price ratio analysis and comparable companies analysis, demonstrating a waterfall approach to valuation.",
          "position": 2,
          "objective": "To analyze the value of the company using a waterfall approach",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 23:18:06.874006+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 23,
      "type": "setup",
      "title": "Includes a list of peer companies and a separate section for 'T-Bird' (Thunderbird) scenarios.",
      "function": "compare_peers",
      "rawType": "comparison_table",
      "block": null,
      "metadata": {
        "slideType": "comparison_table",
        "slideTypeCanon": {
          "name": "Comparison table",
          "slug": "comparison_table",
          "status": "active",
          "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2",
          "version": 1,
          "description": null
        },
        "function": "compare_peers",
        "functionCanon": {
          "name": "Compare peers",
          "slug": "compare_peers",
          "status": "active",
          "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 41,
        "componentCount": 3,
        "textChars": 331,
        "nDataPoints": 168,
        "notes": "Includes a list of peer companies and a separate section for 'T-Bird' (Thunderbird) scenarios.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:46.387+00",
          "seconds": 2.44,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/23",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-23",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.04,
            "w": 0.5,
            "x": 0.08,
            "y": 0.85
          },
          "kind": "other",
          "text": "Source: Company filings, Thunderbird Management estimates and Wall Street research. Note: EV/Revenue multiples for Alexion, BioMarin not included in mean or median calculations.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:46.387+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9492616a-05e0-4642-86cf-fa4ff7377720",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.65,
            "w": 0.84,
            "x": 0.08,
            "y": 0.18
          },
          "kind": "table",
          "text": "Table containing company names, % of 52w High, Equity Value, Ent. Value, Revenue (2008E-2011E), and EV/Revenue (2008E-2011E).",
          "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": "2026-07-16 19:36:46.387+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "22da3867-b90f-4c84-9b2c-a23e948de096",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.4,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Comparable Companies Analysis",
          "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": "2026-07-16 19:36:46.387+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bf365e2c-aad1-4424-a5c2-427e30680e8e",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [
        {
          "matchId": "279a855a-b05f-4bc2-b98f-fc4b73fe4ea9",
          "evidence": "The slide uses a standard comparable company analysis table to benchmark financial performance.",
          "framework": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-16 19:36:46.387+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 23,
          "frameworkName": "comparison_frame"
        }
      ],
      "arcBeats": [],
      "loops": [
        {
          "to": 24,
          "from": 22,
          "loop": {
            "name": "31_waterfall_value",
            "slug": "31-waterfall-value",
            "status": "active",
            "bestFor": "Financial analysis, value bridges, variance explanations",
            "canonId": "019dd956-7282-712b-bae5-6daca6b5a1d3",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Total -> Driver 1 Impact -> Driver 2 Impact -> Driver 3 Impact -> The Remainder",
            "description": "Break down a big number into its component drivers to show where value is created or lost",
            "familyLabel": null
          },
          "matchId": "6b165bfa-a177-47af-ab87-16dc284d71db",
          "evidence": "The document presents a purchase price ratio analysis and comparable companies analysis, demonstrating a waterfall approach to valuation.",
          "position": 2,
          "objective": "To analyze the value of the company using a waterfall approach",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 23:18:06.874006+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 24,
      "type": "evidence",
      "title": "Includes summary statistics (Max, Mean, Median, Min) at the bottom of the table.",
      "function": "cite_precedent",
      "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": "cite_precedent",
        "functionCanon": {
          "name": "Cite precedent",
          "slug": "cite_precedent",
          "status": "active",
          "canonId": "019de52d-142b-714b-86d4-58aad7b568ec",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 47,
        "componentCount": 4,
        "textChars": 295,
        "nDataPoints": 120,
        "notes": "Includes summary statistics (Max, Mean, Median, Min) at the bottom of the table.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:46.697+00",
          "seconds": 2.539,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/24",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-24",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.05,
            "w": 0.84,
            "x": 0.08,
            "y": 0.81
          },
          "kind": "other",
          "text": "Footnotes 1-4 detailing calculation methodologies and exclusions.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "disclaimer",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:46.697+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "fd3428ee-ce3f-4269-92e2-789f36aaf0c1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.25,
            "x": 0.08,
            "y": 0.79
          },
          "kind": "other",
          "text": "Source: FactSet and Company filings.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:46.697+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ac7256eb-309d-459c-96d5-d00c4c003d51",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.55,
            "w": 0.84,
            "x": 0.08,
            "y": 0.21
          },
          "kind": "table",
          "text": "Table of M&A transactions with columns for Date, Acquiror, Target, Enterprise Value, % Premium (1-Day, 1-Month, 3-Month), and EV/Revenue (1-Year, 2-Year).",
          "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": "2026-07-16 19:36:46.697+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b12bfef8-4896-47fa-bf94-58f08b6c2466",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.45,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Precedent Biopharmaceutical Transactions",
          "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": "2026-07-16 19:36:46.697+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "66a0a86a-2338-4aa2-96c5-914e80a60e6e",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [
        {
          "to": 24,
          "from": 22,
          "loop": {
            "name": "31_waterfall_value",
            "slug": "31-waterfall-value",
            "status": "active",
            "bestFor": "Financial analysis, value bridges, variance explanations",
            "canonId": "019dd956-7282-712b-bae5-6daca6b5a1d3",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Total -> Driver 1 Impact -> Driver 2 Impact -> Driver 3 Impact -> The Remainder",
            "description": "Break down a big number into its component drivers to show where value is created or lost",
            "familyLabel": null
          },
          "matchId": "6b165bfa-a177-47af-ab87-16dc284d71db",
          "evidence": "The document presents a purchase price ratio analysis and comparable companies analysis, demonstrating a waterfall approach to valuation.",
          "position": 2,
          "objective": "To analyze the value of the company using a waterfall approach",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 23:18:06.874006+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 25,
      "type": "setup",
      "function": "transition",
      "rawType": "section_divider",
      "block": null,
      "metadata": {
        "slideType": "section_divider",
        "slideTypeCanon": {
          "name": "Section divider",
          "slug": "section_divider",
          "status": "active",
          "canonId": "019de52d-066a-7402-9554-6ae504999041",
          "version": 1,
          "description": null
        },
        "function": "transition",
        "functionCanon": {
          "name": "Transition",
          "slug": "transition",
          "status": "active",
          "canonId": "019de52d-1365-7149-92aa-66df859e75fd",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 2,
        "componentCount": 1,
        "textChars": 28,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:45.913+00",
          "seconds": 1.637,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/25",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-25",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.025,
            "w": 0.312,
            "x": 0.569,
            "y": 0.483
          },
          "kind": "title",
          "text": "Potential Other Alternatives",
          "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": "2026-07-16 19:36:45.913+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "721e748a-4bf0-413f-b574-8c8477f7aef3",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 26,
      "type": "setup",
      "title": "Includes company logos and financial data for 11 potential acquirors.",
      "function": "compare_peers",
      "rawType": "comparison_table",
      "block": null,
      "metadata": {
        "slideType": "comparison_table",
        "slideTypeCanon": {
          "name": "Comparison table",
          "slug": "comparison_table",
          "status": "active",
          "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2",
          "version": 1,
          "description": null
        },
        "function": "compare_peers",
        "functionCanon": {
          "name": "Compare peers",
          "slug": "compare_peers",
          "status": "active",
          "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 32,
        "componentCount": 3,
        "textChars": 184,
        "nDataPoints": 77,
        "notes": "Includes company logos and financial data for 11 potential acquirors.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:46.558+00",
          "seconds": 2.133,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/26",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-26",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.02,
            "w": 0.32,
            "x": 0.08,
            "y": 0.87
          },
          "kind": "other",
          "text": "Source: Company filings, FactSet and Wall Street research.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:46.558+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a5daf9f7-9735-44ba-89ef-a822bade6694",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.65,
            "w": 0.84,
            "x": 0.08,
            "y": 0.195
          },
          "kind": "table",
          "text": "Company, Share Price, % of 52w High, Equity Value, Enterprise Value, 2008E Revenue, 2008E EV/Rev, 2008E P/E",
          "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": "2026-07-16 19:36:46.558+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6147265c-2c7b-4f25-93ae-812a28bb765c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.25,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Potential Acquirors",
          "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": "2026-07-16 19:36:46.558+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6ab8f5ae-7732-437b-9611-e3e84790cca2",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 27,
      "type": "evidence",
      "title": "This slide outlines specific legal and contractual constraints (standstill, veto rights, change of control clauses) governing the relationship between Dolphin a",
      "function": "cite_precedent",
      "rawType": "appendix_disclosure",
      "block": null,
      "metadata": {
        "slideType": "appendix_disclosure",
        "slideTypeCanon": {
          "name": "Appendix disclosure",
          "slug": "appendix_disclosure",
          "status": "active",
          "canonId": "019de52d-07b2-7549-8e8b-932a19f6e616",
          "version": 1,
          "description": null
        },
        "function": "cite_precedent",
        "functionCanon": {
          "name": "Cite precedent",
          "slug": "cite_precedent",
          "status": "active",
          "canonId": "019de52d-142b-714b-86d4-58aad7b568ec",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 74,
        "componentCount": 7,
        "textChars": 649,
        "nDataPoints": 0,
        "notes": "This slide outlines specific legal and contractual constraints (standstill, veto rights, change of control clauses) governing the relationship between Dolphin and Thunderbird.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:47.473+00",
          "seconds": 2.956,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/27",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-27",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.12,
            "w": 0.42,
            "x": 0.5,
            "y": 0.18
          },
          "kind": "list",
          "text": "Stockholder Rights Plan: Dolphin consent required for amendments or waivers.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:47.473+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "114f3c3e-c153-4835-abb9-bf367e736866",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.35,
            "w": 0.42,
            "x": 0.08,
            "y": 0.47
          },
          "kind": "list",
          "text": "Licensing Agreements: Increlex and Somatuline agreements include change of control provisions and termination rights.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:47.473+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2771a65a-89e3-4e36-8db0-7fafeead9cd3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.22,
            "w": 0.42,
            "x": 0.5,
            "y": 0.32
          },
          "kind": "list",
          "text": "Affiliation Agreement Veto Rights: Dolphin consent required for significant transactions or support of third-party offers.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:47.473+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5614ee64-8035-4b9f-9266-af81ed969406",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.42,
            "x": 0.08,
            "y": 0.18
          },
          "kind": "list",
          "text": "Regulated Purchase Period Provisions: Full standstill expiration in October 2007; restrictions on acquiring securities without consent until 2011.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:47.473+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5ef6ea44-55d8-49c1-a0ce-a9070ff5b670",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.22,
            "w": 0.42,
            "x": 0.5,
            "y": 0.59
          },
          "kind": "list",
          "text": "Convertible Notes: Veto rights on mergers/assets and call rights upon change of control.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:47.473+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "eb8d5e5b-6cf2-4ba1-9660-825024c56f05",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.84,
            "x": 0.08,
            "y": 0.84
          },
          "kind": "other",
          "text": "Source: Company information. Note: Above summary assumes status quo.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:47.473+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "200611e6-a8cb-47a3-9a40-4067c145ec48",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.4,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Dolphin Agreement Considerations",
          "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": "2026-07-16 19:36:47.473+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0f77749f-73e0-4ea8-8f54-6591a853cc39",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 28,
      "type": "analysis",
      "title": "Includes footnotes regarding market information and conversion methodology.",
      "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": 49,
        "componentCount": 4,
        "textChars": 334,
        "nDataPoints": 60,
        "notes": "Includes footnotes regarding market information and conversion methodology.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview",
          "runId": null,
          "at": "2026-07-16 19:36:47.056+00",
          "seconds": 2.359,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019f6b8e-e229-7535-a4da-414498c7d57f/28",
        "deck": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f",
        "deckAnchor": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f#slide-28",
        "deckJson": "/decks/019f6b8e-e229-7535-a4da-414498c7d57f.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.05,
            "w": 0.45,
            "x": 0.08,
            "y": 0.83
          },
          "kind": "other",
          "text": "Source: Company filings, Thunderbird Management estimates, FactSet and Wall Street Research. Note: Market information as of April 18, 2008.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": "source-note",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-07-16 19:36:47.056+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7f412187-9448-45b6-a37a-00923f5738ad",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.65,
            "w": 0.42,
            "x": 0.08,
            "y": 0.175
          },
          "kind": "table",
          "text": "Current Equity Ownership, Equity Ownership @ $8.00/share, Equity Ownership Assuming Full Conversion tables",
          "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": "2026-07-16 19:36:47.056+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d83e4d33-fad3-496e-8837-903997a5c6b7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.45,
            "w": 0.41,
            "x": 0.51,
            "y": 0.175
          },
          "kind": "table",
          "text": "2009E EV / Revenue Street and Mgt Adj Case tables",
          "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": "2026-07-16 19:36:47.056+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "105d3f10-4822-496f-9273-7ccedf356a31",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.45,
            "x": 0.08,
            "y": 0.09
          },
          "kind": "title",
          "text": "Dolphin Agreement Considerations (cont.)",
          "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": "2026-07-16 19:36:47.056+00",
            "model": "google/gemini-3.1-flash-lite-preview",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "884084a7-0896-4c4c-b577-7bd490d8a2e2",
          "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": "28230fae-ad71-4841-a16d-f500ab3730a1",
          "evidence": "table/data: Current Equity Ownership, Equity Ownership @ $8.00/share, Equity Ownership Assuming Full Conversion tables",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 02:11:09.015152+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 28,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    }
  ],
  "arcBeats": [
    {
      "from": 4,
      "to": 5,
      "label": "Problem",
      "description": "The document begins with an introduction and overview of the current indication of interest, setting the stage for the problem."
    },
    {
      "from": 6,
      "to": 7,
      "label": "Market Size",
      "description": "The document presents a comparison table on the overview of current indication of interest, providing context for the market size."
    },
    {
      "from": 20,
      "to": 21,
      "label": "Solution",
      "description": "The document presents preliminary valuation considerations, outlining a potential solution for the acquisition."
    },
    {
      "from": 12,
      "to": 19,
      "label": "Financials",
      "description": "The document presents various financial tables and projections, providing a detailed analysis of the company's financials."
    }
  ],
  "loops": [
    {
      "from": 6,
      "to": 7,
      "label": "Mece Breakdown",
      "description": "To break down the valuation considerations into a comprehensive analysis"
    },
    {
      "from": 20,
      "to": 21,
      "label": "Expert Witness",
      "description": "To provide expert insight into the valuation considerations"
    },
    {
      "from": 22,
      "to": 24,
      "label": "Waterfall Value",
      "description": "To analyze the value of the company using a waterfall approach"
    }
  ]
}