{ "kind": "all", "value": "all", "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations", "filters": { "documentKinds": [], "sourceTypes": [], "orientations": [] }, "total": 319975, "page": 2063, "pageSize": 60, "pageCount": 5333, "rows": [ { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 1, "slideType": "cover", "function": "front_matter", "notes": "The slide uses a satirical visual metaphor (clown, 'SELL' signs, 'Mr. Irrelevant' reference) to frame the target company negatively.", "imagePath": "https://imgproxy.kitesheet.com/hd6SYMdVgg-X06NE7b9GhzH-5oIzpk1Qk63c3LSsIEo/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8wOGQ2YWVmYmNjYjUvcDAwMS5wbmc", "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/1", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-1", "loopMatches": [], "arcBeatMatches": [ { "to": 7, "from": 1, "beatId": "9847db00-d638-4aae-95dd-90fa8d6c9fcd", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem Identification", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "The deck starts by identifying the problem with Genius Sports, highlighting its poor risk/reward investment thesis.", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": "https://imgproxy.kitesheet.com/uVWnJDktNzoY_7L3u5O_If3FFZ-BR6uKDC-261Qkd30/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8wOGQ2YWVmYmNjYjUvcDAwMS5qcGc", "thumbSrc": "https://imgproxy.kitesheet.com/iwnZ6qNwCxxpPLlv8W6cvUHVSZyhcxaJH2mU9L120qI/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8wOGQ2YWVmYmNjYjUvcDAwMS5wbmc", "thumbSrcAlt": "https://imgproxy.kitesheet.com/kO6ndtEhqlziKQQmOSWdUwWfWdxw_kkq0N5UfMscmiQ/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8wOGQ2YWVmYmNjYjUvcDAwMS5qcGc" }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 2, "slideType": "disclaimer", "function": "other", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/2", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-2", "loopMatches": [], "arcBeatMatches": [ { "to": 7, "from": 1, "beatId": "9847db00-d638-4aae-95dd-90fa8d6c9fcd", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem Identification", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "The deck starts by identifying the problem with Genius Sports, highlighting its poor risk/reward investment thesis.", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 3, "slideType": "table_of_contents", "function": "front_matter", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/3", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-3", "loopMatches": [], "arcBeatMatches": [ { "to": 7, "from": 1, "beatId": "9847db00-d638-4aae-95dd-90fa8d6c9fcd", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem Identification", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "The deck starts by identifying the problem with Genius Sports, highlighting its poor risk/reward investment thesis.", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 4, "slideType": "precedent_table", "function": "cite_precedent", "notes": "The slide uses a comparative table structure to establish credibility through past performance.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/4", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-4", "loopMatches": [], "arcBeatMatches": [ { "to": 7, "from": 1, "beatId": "9847db00-d638-4aae-95dd-90fa8d6c9fcd", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem Identification", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "The deck starts by identifying the problem with Genius Sports, highlighting its poor risk/reward investment thesis.", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 5, "slideType": "comparison_table", "function": "illustrate_case", "notes": "The slide uses a comparison table to establish credibility by showcasing past successful activist interventions.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/5", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-5", "loopMatches": [], "arcBeatMatches": [ { "to": 7, "from": 1, "beatId": "9847db00-d638-4aae-95dd-90fa8d6c9fcd", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem Identification", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "The deck starts by identifying the problem with Genius Sports, highlighting its poor risk/reward investment thesis.", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 6, "slideType": "executive_summary", "function": "front_matter", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/6", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-6", "loopMatches": [], "arcBeatMatches": [ { "to": 7, "from": 1, "beatId": "9847db00-d638-4aae-95dd-90fa8d6c9fcd", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem Identification", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "The deck starts by identifying the problem with Genius Sports, highlighting its poor risk/reward investment thesis.", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 7, "slideType": "executive_summary", "function": "summarize", "notes": "This is a classic activist short-seller deck slide, combining a strong headline with a dense narrative summary and supporting bullet points.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/7", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-7", "loopMatches": [], "arcBeatMatches": [ { "to": 7, "from": 1, "beatId": "9847db00-d638-4aae-95dd-90fa8d6c9fcd", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem Identification", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "The deck starts by identifying the problem with Genius Sports, highlighting its poor risk/reward investment thesis.", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 8, "slideType": "thesis_headline", "function": "diagnose_problem", "notes": "The slide uses 'Red Flag' callouts to highlight specific accounting concerns.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/8", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-8", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 9, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "Uses red arrows as a visual list marker to emphasize critical points.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/9", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-9", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 10, "slideType": "comparison_table", "function": "compare_peers", "notes": "The slide uses a classic 'pros vs cons' framing to justify a short thesis.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/10", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-10", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 11, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a CEO quote to highlight potential issues with 'contra-relationships' or 'value-in-kind' revenue.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/11", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-11", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 12, "slideType": "other", "function": "present_framework", "notes": "The slide uses a hub-and-spoke style diagram to show the flow of data, payments, and software between three entities.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/12", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-12", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 13, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a classic 'Claim vs. Reality' structure common in activist short reports.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/13", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-13", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 14, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a direct quote from a Sportradar Strategy Director to undermine the value proposition of the Genius-NFL deal.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/14", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-14", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 15, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a dialogue-style contrast between the activist and a former employee to frame the problem.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/15", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-15", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 16, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/16", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-16", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 17, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses CEO quotes to frame the narrative of aggressive growth targets.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/17", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-17", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-1b3c88355559", "docSlug": "08d6aefbccb5", "documentTitle": "Genius Sports Limited (GENI)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-08-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 18, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses expert testimony and competitor data to cast doubt on the sustainability of Genius's growth.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/18", "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-18", "loopMatches": [], "arcBeatMatches": [ { "to": 53, "from": 8, "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitation", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 83, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red callout box and arrow to highlight specific data in the provided regulatory documents.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/83", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-83", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 84, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a primary source document (architectural blueprint) to validate the claim about the facility's existence and design.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/84", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-84", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 85, "slideType": "section_divider", "function": "transition", "notes": "Spruce Point Capital Management branding (pine tree logo).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/85", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-85", "loopMatches": [ { "to": 90, "from": 85, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "a1fe7cdd-4962-437d-a94b-36d803b83b6b", "evidence": "Analysis of Oatly's market positioning and competitive threats.", "position": 1, "objective": "What is the cost of not addressing Oatly's competitive disadvantages?", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 86, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "Uses a comparison frame to contrast traditional dairy production with DIY oat milk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/86", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-86", "loopMatches": [ { "to": 90, "from": 85, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "a1fe7cdd-4962-437d-a94b-36d803b83b6b", "evidence": "Analysis of Oatly's market positioning and competitive threats.", "position": 1, "objective": "What is the cost of not addressing Oatly's competitive disadvantages?", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 87, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a combination of a stacked area chart and excerpts from financial filings to highlight a discrepancy in narrative.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/87", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-87", "loopMatches": [ { "to": 90, "from": 85, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "a1fe7cdd-4962-437d-a94b-36d803b83b6b", "evidence": "Analysis of Oatly's market positioning and competitive threats.", "position": 1, "objective": "What is the cost of not addressing Oatly's competitive disadvantages?", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 88, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 'Warning' callout to frame the contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/88", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-88", "loopMatches": [ { "to": 90, "from": 85, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "a1fe7cdd-4962-437d-a94b-36d803b83b6b", "evidence": "Analysis of Oatly's market positioning and competitive threats.", "position": 1, "objective": "What is the cost of not addressing Oatly's competitive disadvantages?", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 89, "slideType": "thesis_headline", "function": "frame_situation", "notes": "Uses a comparison framework to contrast current market leaders (soy, almond, oat) with the emerging pea milk category.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/89", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-89", "loopMatches": [ { "to": 90, "from": 85, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "a1fe7cdd-4962-437d-a94b-36d803b83b6b", "evidence": "Analysis of Oatly's market positioning and competitive threats.", "position": 1, "objective": "What is the cost of not addressing Oatly's competitive disadvantages?", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 90, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a visual 'X' mark and arrow to show displacement of Oatly by NotMilk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/90", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-90", "loopMatches": [ { "to": 90, "from": 85, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "a1fe7cdd-4962-437d-a94b-36d803b83b6b", "evidence": "Analysis of Oatly's market positioning and competitive threats.", "position": 1, "objective": "What is the cost of not addressing Oatly's competitive disadvantages?", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 91, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a critical observation or 'red flag' for the company's strategy.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/91", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-91", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 92, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red callout box to emphasize the negative margin trend in Q1 2021.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/92", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-92", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 93, "slideType": "competitive_analysis", "function": "name_villain", "notes": "The slide uses a grid of competitor product images to argue that the market is becoming commoditized.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/93", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-93", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 94, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses visual evidence (screenshots) to support the thesis of poor product placement.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/94", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-94", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 95, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon and red boxes to highlight the negative change in Oatly's retail positioning.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/95", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-95", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 96, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses red boxes to highlight specific product changes in search results and price points.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/96", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-96", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 97, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses screenshots of e-commerce search results to demonstrate that competitors rank higher than Oatly.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/97", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-97", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 98, "slideType": "thesis_headline", "function": "frame_situation", "notes": "The slide uses a red flag icon to denote a 'red flag' or warning about Oatly's associations (Blackstone).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/98", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-98", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 99, "slideType": "competitive_analysis", "function": "compare_peers", "notes": "Uses red boxes to highlight comparable follower metrics on Facebook and Instagram.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/99", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-99", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 100, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses visual evidence (photos of price tags) to support a bearish thesis on Oatly's competitive environment.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/100", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-100", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 101, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Includes red flag icon, photographic evidence of shelf gaps, and direct quotes from distributors.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/101", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-101", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 102, "slideType": "villain_critique", "function": "name_villain", "notes": "Uses a red flag icon to signal warning/risk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/102", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-102", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 103, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses photographic evidence to support the thesis of a 'brutally competitive' market environment.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/103", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-103", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 104, "slideType": "competitive_analysis", "function": "compare_peers", "notes": "The slide uses a red flag icon to signal a warning about market saturation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/104", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-104", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 105, "slideType": "competitive_analysis", "function": "compare_peers", "notes": "The slide uses a 'Warning' callout box to frame the competitive threat.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/105", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-105", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 106, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "Uses a red flag icon to signal warning/risk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/106", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-106", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 107, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/107", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-107", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 108, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a combination of callouts, a table, and direct quotes to contrast company claims with historical data and executive statements.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/108", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-108", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 109, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning/contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/109", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-109", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 110, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to denote a 'red flag' or warning sign in the investigation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/110", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-110", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 111, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning/contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/111", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-111", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 112, "slideType": "villain_critique", "function": "name_villain", "notes": "Uses screenshots of customer reviews from JD.com to substantiate claims of poor quality control.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/112", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-112", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 113, "slideType": "other", "function": "frame_situation", "notes": "This slide is part of an activist short report by Spruce Point Capital Management, framing the company's innovation as a response to market pressures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/113", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-113", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 114, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/114", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-114", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 115, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 'before-after' narrative structure to discredit an analyst's current credibility.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/115", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-115", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 116, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses quotes from founder and former employees to establish a conflict of interest.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/116", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-116", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 117, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Spruce Point activist deck slide highlighting Oatly's lower R&D investment.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/117", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-117", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 118, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 'before/after' or 'claim/reality' structure to expose a contradiction in corporate narrative.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/118", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-118", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 119, "slideType": "valuation_table", "function": "size_opportunity", "notes": "The slide uses a red flag icon to signal a warning about the company's valuation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/119", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-119", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 120, "slideType": "precedent_table", "function": "cite_precedent", "notes": "Includes a table of financial projections and a brand portfolio infographic.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/120", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-120", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 121, "slideType": "preempt_rebuttal", "function": "compare_peers", "notes": "Uses Beyond Meat as a precedent for valuation multiple compression.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/121", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-121", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 122, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The table compares Oatly (OTLY) against 14 peers across various financial metrics including margins, growth, and valuation multiples (EV/Sales, EV/Gross Profit).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/122", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-122", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 123, "slideType": "valuation_table", "function": "show_valuation_bridge", "notes": "The slide uses a comparative valuation framework to justify a bearish thesis on Oatly.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/123", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-123", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-17900a3ad1c6", "docSlug": "4ee8cca82f1a", "documentTitle": "Oatly Group AB (OTLY)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-07-14 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 124, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 'red flag' icon to signal a warning/contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-17900a3ad1c6/124", "deckHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-17900a3ad1c6#slide-124", "loopMatches": [], "arcBeatMatches": [ { "to": 124, "from": 85, "beatId": "1c32506f-1c78-4442-a178-fa0f1eb2c40c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and estimation of downside risk, supported by comprehensive evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }