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(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": 90, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to signal a warning/contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/90", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-90", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 91, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Includes a 'Spruce Point Adjusted' row to highlight the impact of their thesis on valuation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/91", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-91", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. 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Connects financial data to personal spending (mansions) to imply misalignment of interests.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/92", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-92", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 93, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "The slide uses a red flag icon and a red highlight on the Goldman Sachs row to draw attention to the bearish outlier.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/93", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-93", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 94, "slideType": "valuation_reveal", "function": "show_valuation_bridge", "notes": "The slide uses a red flag icon next to a callout box highlighting valuation concerns and governance issues.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/94", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-94", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 95, "slideType": "quote_slide", "function": "expose_contradiction", "notes": "The slide uses a screenshot from a video to frame the subject's own words against them.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/95", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-95", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-4b92274d3e76", "docSlug": "0a0319cd79cc", "documentTitle": "FIGS, Inc. 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(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": 97, "slideType": "appendix_disclosure", "function": "preempt_rebuttal", "notes": "This slide serves as a legal disclaimer and framing device to justify using potentially biased or unproven legal discovery materials.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/97", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-97", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 98, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses red underlining and yellow highlighting to draw attention to specific claims of antimicrobial efficacy.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/98", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-98", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 99, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses legal discovery documents to undermine the credibility of the company's scientific claims.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/99", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-99", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 100, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning/red flag in the activist report.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/100", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-100", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 101, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Includes excerpts from sworn testimony with red-box highlights emphasizing the lack of silver and failure of antimicrobial claims.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/101", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-101", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 102, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses legal interrogatory excerpts to highlight the lack of scientific basis for FIGS's 66% HAI reduction claim.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/102", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-102", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 103, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red box to highlight the specific incriminating email text.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/103", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-103", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 104, "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-8b99-4b92274d3e76/104", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-104", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 105, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal an allegation of misconduct.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/105", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-105", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 106, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Highlights legal interrogatories alongside customer service logs to demonstrate a gap between corporate defense and customer reality.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/106", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-106", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 107, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Includes a red-bordered callout box highlighting the core argument and a red-bordered excerpt from a legal document.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/107", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-107", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 108, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a table-like structure to present interview quotes as evidence of misappropriation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/108", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-108", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 109, "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-8b99-4b92274d3e76/109", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-109", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 110, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses legal document excerpts as primary evidence to support the activist thesis.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/110", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-110", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 111, "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-8b99-4b92274d3e76/111", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-111", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 112, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses legal discovery documents to highlight a lack of contemporaneous records for FIGS's donation claims.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/112", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-112", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "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": 113, "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-8b99-4b92274d3e76/113", "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-113", "loopMatches": [], "arcBeatMatches": [ { "to": 113, "from": 88, "beatId": "b694edb1-a263-47ef-bdd9-574fde1c863c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "Conclusion and downside risk assessment", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }