{ "kind": "all", "value": "all", "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations", "filters": { "documentKinds": [], "sourceTypes": [], "orientations": [] }, "total": 319975, "page": 2084, "pageSize": 60, "pageCount": 5333, "rows": [ { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 22, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a direct quote from a legal document to undermine the subject's credibility.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/22", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-22", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 23, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 'red flag' icon to signal a warning or contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/23", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-23", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 24, "slideType": "villain_critique", "function": "name_villain", "notes": "Uses red flags and underlining to highlight specific phrases for contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/24", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-24", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 25, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal warning/contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/25", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-25", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 26, "slideType": "key_takeaways", "function": "summarize", "notes": "The slide uses a red flag icon and a red callout box at the bottom to emphasize the negative findings regarding FIGS' credibility.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/26", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-26", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 27, "slideType": "section_divider", "function": "transition", "notes": "Spruce Point Capital Management branding (tree logo).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/27", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-27", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 28, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal warning/risk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/28", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-28", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 29, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to denote the activist's critical stance on the company's disclosures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/29", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-29", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 30, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning or contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/30", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-30", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 31, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon and red boxes to highlight inconsistencies.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/31", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-31", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 32, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning/contradiction. The slide structure uses a side-by-side comparison of management quotes vs. reported data.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/32", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-32", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 33, "slideType": "thesis_headline", "function": "frame_problem", "notes": "This is a classic activist 'thesis' slide, setting the stage for the subsequent critique.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/33", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-33", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 34, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to signal a warning to investors.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/34", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-34", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 35, "slideType": "market_sizing", "function": "size_opportunity", "notes": "Includes a disclaimer box preemptively addressing potential underestimation in their own model.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/35", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-35", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 36, "slideType": "market_sizing", "function": "size_opportunity", "notes": "The slide uses a red flag icon to signal a warning/critique of the company's market sizing claims.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/36", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-36", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 37, "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-8b99-4b92274d3e76/37", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-37", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 38, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The table highlights a specific accounting discrepancy between FIGS and its peer group.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/38", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-38", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 39, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to signal a warning/activist critique. It juxtaposes the firm's own adjustment table against a snippet from a Barclays analyst report.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/39", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-39", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 40, "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-8b99-4b92274d3e76/40", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-40", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 41, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Includes a table of quarterly international revenue growth and a testimonial from a former executive.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/41", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-41", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 42, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to denote a warning or critical point.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/42", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-42", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 43, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon and red X icons to signal warning and contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/43", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-43", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 44, "slideType": "section_divider", "function": "transition", "notes": "The slide features the Spruce Point Capital Management logo (the pine tree).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/44", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-44", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 45, "slideType": "villain_critique", "function": "name_villain", "notes": "Uses a red flag icon to denote a critical finding.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/45", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-45", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 46, "slideType": "villain_critique", "function": "name_villain", "notes": "Uses a red flag icon to signal a warning/red flag about the company.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/46", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-46", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 47, "slideType": "villain_critique", "function": "diagnose_problem", "notes": "Uses a red flag icon to visually emphasize the cultural risk and high employee turnover.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/47", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-47", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 48, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses red 'X' icons to visually signify departure.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/48", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-48", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 49, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal warning/risk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/49", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-49", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 50, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a table-like structure to present qualitative evidence of management dysfunction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/50", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-50", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 51, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to emphasize the 'fake review' accusation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/51", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-51", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 52, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/52", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-52", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 53, "slideType": "testimonial", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal warning/risk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/53", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-53", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 54, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a Gantt-style chart to visualize employee turnover and understaffing relative to revenue growth.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/54", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-54", "loopMatches": [ { "to": 54, "from": 44, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae", "evidence": "Employee commentary and Glassdoor reviews", "position": 1, "objective": "To expose an unhealthy company culture and high turnover", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 0.7, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 55, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon and red arrows to highlight specific text passages in the company's filings.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/55", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-55", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 56, "slideType": "comparison_table", "function": "compare_peers", "notes": "Uses color coding (green/red/yellow) to imply quality of experience.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/56", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-56", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 57, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses red flag iconography to highlight suspicious activity.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/57", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-57", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 58, "slideType": "thesis_headline", "function": "frame_problem", "notes": "This is a classic activist investor 'thesis' slide, often used as a section divider or opening statement.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/58", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-58", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 59, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses red 'X' and '?' icons to visually signal skepticism.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/59", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-59", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 60, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "Uses a red flag icon to signal a warning/red flag about the company's competitive moat.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/60", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-60", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 61, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a 'red flag' warning about the company's claims.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/61", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-61", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 62, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 'spot the difference' visual test to undermine the company's narrative of unique design differentiation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/62", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-62", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 63, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a visual grid of product thumbnails from Uniform Advantage to demonstrate market saturation of the jogger style.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/63", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-63", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 64, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag graphic and a screenshot of FIGS' marketing material to highlight the contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/64", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-64", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 65, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "The slide uses a 'villain critique' style to undermine the company's core competitive moat argument.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/65", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-65", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 66, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning or point of contention.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/66", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-66", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 67, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses red callout boxes and arrows to link website claims directly to prospectus risk disclosures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/67", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-67", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 68, "slideType": "comparison_table", "function": "compare_peers", "notes": "The slide uses a split-column layout to contrast 'Careismatic Brands' with 'Other Brands' to debunk the uniqueness of FIGS' marketing.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/68", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-68", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 69, "slideType": "competitive_analysis", "function": "compare_peers", "notes": "The slide uses a red flag icon to highlight the competitive threat of Jaanuu and includes a red box on the line chart to emphasize the recent divergence in search momentum.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/69", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-69", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 70, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to signal risk and a red box to highlight the negative trend in the chart.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/70", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-70", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 71, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning/contradiction. The slide is structured as a direct comparison between management quotes and factual evidence.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/71", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-71", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 72, "slideType": "thesis_headline", "function": "frame_situation", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/72", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-72", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 73, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to signal a warning or controversy. It compiles multiple testimonials and news snippets to build a case against the company's marketing judgment.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/73", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-73", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 74, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses red arrows to map specific critical annotations directly to underlined text in the company's public statements.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/74", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-74", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 75, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a side-by-side comparison of two conflicting narratives to expose corporate greenwashing/spin.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/75", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-75", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 76, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning/risk. The slide contrasts internal employee sentiment with the company's public-facing narrative.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/76", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-76", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 77, "slideType": "thesis_headline", "function": "frame_problem", "notes": "Spruce Point Capital Management branding (pine tree logo).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/77", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-77", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 78, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a contradiction/warning.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/78", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-78", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 79, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "The slide uses a grid of 8 line charts to demonstrate a common trend across the industry, countering potential arguments about FIGS' unique growth drivers.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/79", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-79", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 80, "slideType": "kpi_overview", "function": "analyze_data", "notes": "The slide uses a red box to highlight the H1 2022 period, emphasizing the recent decline in performance.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/80", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-80", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. (FIGS)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-09-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 81, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Contrasts qualitative management quotes against a quantitative bar chart showing a downward margin trend.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/81", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-81", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }