{
  "kind": "all",
  "value": "all",
  "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations",
  "filters": {
    "documentKinds": [],
    "sourceTypes": [],
    "orientations": []
  },
  "total": 319975,
  "page": 2101,
  "pageSize": 60,
  "pageCount": 5333,
  "rows": [
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 8,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a side-by-side comparison to highlight a reputational risk/contradiction.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/8",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-8",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 10,
          "from": 5,
          "beatId": "3ad651ac-65b1-41cf-8e93-9e519410fedd",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Monster",
          "beatSlug": "overcoming-monster-the-monster",
          "evidence": "Exposing contradictions in ELF's brand equity and marketing partnerships",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": "Hook",
          "parentBeatSlug": "hook"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 9,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a table to contrast demographic data across three organizational levels: Board, Senior Leadership, and All Employees.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/9",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-9",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 10,
          "from": 5,
          "beatId": "3ad651ac-65b1-41cf-8e93-9e519410fedd",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Monster",
          "beatSlug": "overcoming-monster-the-monster",
          "evidence": "Exposing contradictions in ELF's brand equity and marketing partnerships",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": "Hook",
          "parentBeatSlug": "hook"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 10,
      "slideType": "segmentation",
      "function": "analyze_data",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/10",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-10",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 10,
          "from": 5,
          "beatId": "3ad651ac-65b1-41cf-8e93-9e519410fedd",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Monster",
          "beatSlug": "overcoming-monster-the-monster",
          "evidence": "Exposing contradictions in ELF's brand equity and marketing partnerships",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": "Hook",
          "parentBeatSlug": "hook"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 11,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a 'Warning' callout to emphasize the lack of long-term purchase obligations from major customers.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/11",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-11",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 11,
          "beatId": "4ec56834-8bc8-4b0d-8db1-0840988051e7",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Struggle",
          "beatSlug": "overcoming-monster-the-struggle",
          "evidence": "Highlighting dependence on retail channel partners and workforce demographics",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 12,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses red arrows to visually link the subject's biography to the NXIVM-affiliated Executive Success Programs.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/12",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-12",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 11,
          "beatId": "4ec56834-8bc8-4b0d-8db1-0840988051e7",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Struggle",
          "beatSlug": "overcoming-monster-the-struggle",
          "evidence": "Highlighting dependence on retail channel partners and workforce demographics",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 13,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses guilt-by-association tactics common in activist short-seller reports.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/13",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-13",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 11,
          "beatId": "4ec56834-8bc8-4b0d-8db1-0840988051e7",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Struggle",
          "beatSlug": "overcoming-monster-the-struggle",
          "evidence": "Highlighting dependence on retail channel partners and workforce demographics",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 14,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses screenshots of LinkedIn and news articles to establish a connection between the company and the NXIVM cult.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/14",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-14",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 11,
          "beatId": "4ec56834-8bc8-4b0d-8db1-0840988051e7",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Struggle",
          "beatSlug": "overcoming-monster-the-struggle",
          "evidence": "Highlighting dependence on retail channel partners and workforce demographics",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 15,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a combination of legal document excerpts and a witness list to establish a negative association.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/15",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-15",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 11,
          "beatId": "4ec56834-8bc8-4b0d-8db1-0840988051e7",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Struggle",
          "beatSlug": "overcoming-monster-the-struggle",
          "evidence": "Highlighting dependence on retail channel partners and workforce demographics",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 16,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses screenshots of LinkedIn and Twitter profiles to establish a link between the subject and a controversial organization.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/16",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-16",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 11,
          "beatId": "4ec56834-8bc8-4b0d-8db1-0840988051e7",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Struggle",
          "beatSlug": "overcoming-monster-the-struggle",
          "evidence": "Highlighting dependence on retail channel partners and workforce demographics",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 17,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses screenshots of LinkedIn posts to establish a connection between the subject and the company being analyzed.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/17",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-17",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 11,
          "beatId": "4ec56834-8bc8-4b0d-8db1-0840988051e7",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Struggle",
          "beatSlug": "overcoming-monster-the-struggle",
          "evidence": "Highlighting dependence on retail channel partners and workforce demographics",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 18,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a 'guilt by association' tactic, showing a LinkedIn 'like' to link a corporate figure to a controversial advocacy group.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/18",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-18",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 11,
          "beatId": "4ec56834-8bc8-4b0d-8db1-0840988051e7",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Struggle",
          "beatSlug": "overcoming-monster-the-struggle",
          "evidence": "Highlighting dependence on retail channel partners and workforce demographics",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 19,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses social media screenshots to imply an inappropriately close relationship or 'insider' language.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/19",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-19",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 20,
      "slideType": "testimonial",
      "function": "illustrate_case",
      "notes": "The slide uses social proof to validate a business relationship.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/20",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-20",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 21,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a side-by-side comparison to imply a negative association.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/21",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-21",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 22,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "This is a classic 'guilt by association' slide used in activist short reports.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/22",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-22",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 23,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a 'guilt by association' rhetorical strategy.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/23",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-23",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 24,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a screenshot of a YouTube video as evidence of the relationship.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/24",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-24",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 25,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a table format to present evidence from three distinct media sources (NYT, NY Post, Vanity Fair) to validate the claim.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/25",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-25",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 26,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses screenshots of social media and articles to point out a specific linguistic pattern used by the company's leadership.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/26",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-26",
      "loopMatches": [
        {
          "to": 26,
          "from": 5,
          "name": "Pattern Hunter",
          "slug": "02-pattern-hunter",
          "bestFor": "Time-pressed audiences, building consensus, when data is strong",
          "matchId": "ec04b634-4265-403a-bac6-3c330a34b97e",
          "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
          "position": 0,
          "objective": "Exposing contradictions and problematic connections",
          "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
          "confidence": 0.7,
          "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
        },
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 27,
      "slideType": "peer_benchmark",
      "function": "compare_peers",
      "notes": "The table highlights that ELF trades at higher EV/Sales and EV/EBITDA multiples compared to the peer average, justified by higher growth rates.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/27",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-27",
      "loopMatches": [
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 28,
          "from": 27,
          "beatId": "69d48c03-ce27-480d-9504-5f98c0d9af1b",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Victory",
          "beatSlug": "overcoming-monster-the-victory",
          "evidence": "Presenting a peer benchmark and valuation table to support the short thesis",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Turn",
          "parentBeatSlug": "turn"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-721c68819c81",
      "docSlug": "82a42fe61ec9",
      "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2023-11-09 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 28,
      "slideType": "valuation_table",
      "function": "show_valuation_bridge",
      "notes": "The table uses a scenario-based valuation approach to calculate downside risk.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-721c68819c81/28",
      "deckHref": "/decks/019dd923-622c-750b-8b99-721c68819c81",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-721c68819c81#slide-28",
      "loopMatches": [
        {
          "to": 28,
          "from": 1,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "906b8199-6870-4f23-b268-c2cf94bad587",
          "evidence": "Presenting a clear and detailed short thesis",
          "position": 1,
          "objective": "Emphasizing the potential downside risk",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 28,
          "from": 27,
          "beatId": "69d48c03-ce27-480d-9504-5f98c0d9af1b",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "The Victory",
          "beatSlug": "overcoming-monster-the-victory",
          "evidence": "Presenting a peer benchmark and valuation table to support the short thesis",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Turn",
          "parentBeatSlug": "turn"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 1,
      "slideType": "cover",
      "function": "front_matter",
      "notes": "The image uses a 'villain' framing technique by associating the company with a run-down property and vermin.",
      "imagePath": "https://imgproxy.kitesheet.com/TEJyES2UxGNioxYSCZMW1YBtZa3oP-Kmk0cSqJCoTME/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kZTAyOGExMDg1ZTYvcDAwMS5wbmc",
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/1",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-1",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 5,
          "from": 1,
          "beatId": "c2295bea-5270-4528-85e1-55bb0f7bf9ae",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Setup & Stakes",
          "beatSlug": null,
          "evidence": "The document sets up the stakes by presenting an executive summary of Spruce Point's short thesis on Zillow.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": "https://imgproxy.kitesheet.com/Q4YalFEVqGADzLTYiYo_LpeYFXVRmSiClN-H7f3peyI/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kZTAyOGExMDg1ZTYvcDAwMS5qcGc",
      "thumbSrc": "https://imgproxy.kitesheet.com/3_kD31fLdky8NfIq9UiZ87kF-3zhzNEM49uc91QqeU8/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kZTAyOGExMDg1ZTYvcDAwMS5wbmc",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/IfNNUNEaKK35v67u9jW0G-atbrAcFrxavO1HBzcsBdA/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kZTAyOGExMDg1ZTYvcDAwMS5qcGc"
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 2,
      "slideType": "disclaimer",
      "function": "other",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/2",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-2",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 5,
          "from": 1,
          "beatId": "c2295bea-5270-4528-85e1-55bb0f7bf9ae",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Setup & Stakes",
          "beatSlug": null,
          "evidence": "The document sets up the stakes by presenting an executive summary of Spruce Point's short thesis on Zillow.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 3,
      "slideType": "precedent_table",
      "function": "cite_precedent",
      "notes": "The slide uses a 'precedent' framework to establish credibility by showing past performance.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/3",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-3",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 5,
          "from": 1,
          "beatId": "c2295bea-5270-4528-85e1-55bb0f7bf9ae",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Setup & Stakes",
          "beatSlug": null,
          "evidence": "The document sets up the stakes by presenting an executive summary of Spruce Point's short thesis on Zillow.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 4,
      "slideType": "table_of_contents",
      "function": "summarize",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/4",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-4",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 5,
          "from": 1,
          "beatId": "c2295bea-5270-4528-85e1-55bb0f7bf9ae",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Setup & Stakes",
          "beatSlug": null,
          "evidence": "The document sets up the stakes by presenting an executive summary of Spruce Point's short thesis on Zillow.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 5,
      "slideType": "executive_summary",
      "function": "front_matter",
      "notes": "Standard Spruce Point Capital Management branding.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/5",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-5",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 5,
          "from": 1,
          "beatId": "c2295bea-5270-4528-85e1-55bb0f7bf9ae",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Setup & Stakes",
          "beatSlug": null,
          "evidence": "The document sets up the stakes by presenting an executive summary of Spruce Point's short thesis on Zillow.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 6,
      "slideType": "executive_summary",
      "function": "frame_problem",
      "notes": "This is a classic activist short thesis slide, focusing on 'broken promises' and 'aggressive accounting'.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/6",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-6",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 7,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide uses red text to highlight critical negative findings.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/7",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-7",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 8,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide uses red text to highlight key negative impacts on Zillow's business model.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/8",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-8",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 9,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide uses a red border to highlight the critical nature of the text, which focuses on business model risks and volatility.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/9",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-9",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 10,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide uses a yellow background to highlight critical arguments against Zillow's business model.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/10",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-10",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 11,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide uses a red border to highlight critical risk areas.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/11",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-11",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 12,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide uses red text to highlight key claims regarding competitive threats and financial accounting practices.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/12",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-12",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 13,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide uses a yellow background to highlight specific areas of concern, likely as part of a 'fraud-exposure' or 'villain-critique' narrative.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/13",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-13",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 14,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide uses a red border to highlight the content as a critical summary of the activist thesis.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/14",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-14",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 15,
      "slideType": "demand_list",
      "function": "state_demand",
      "notes": "The slide uses a numbered list format to present specific inquiries to management, typical of activist investor decks.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/15",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-15",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 16,
      "slideType": "transition",
      "function": "transition",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/16",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-16",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 17,
      "slideType": "quote_slide",
      "function": "expose_contradiction",
      "notes": "The slide uses yellow highlighting to emphasize critical points in the executive's quotes.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/17",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-17",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 18,
      "slideType": "ceo_quote",
      "function": "expose_contradiction",
      "notes": "The slide uses red highlighting to emphasize critical quotes and a red callout box at the bottom to connect the interview to management's recent disclosures.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/18",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-18",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 19,
      "slideType": "testimonial",
      "function": "expose_contradiction",
      "notes": "Uses yellow highlighting to emphasize critical negative sentiment from the interviewee.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/19",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-19",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 20,
      "slideType": "quote_slide",
      "function": "cite_precedent",
      "notes": "The slide uses a table format to present a Q&A style interview.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/20",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-20",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 6,
          "beatId": "41072135-1487-41b4-a046-fb8cc35f95b6",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Complication",
          "beatSlug": "complication",
          "evidence": "The document presents a series of complications, including Zillow's mature business model, litigation risks, and management concerns.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 21,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a funnel diagram to map expert commentary against Zillow's business model.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/21",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-21",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 22,
      "slideType": "ceo_quote",
      "function": "expose_contradiction",
      "notes": "Includes a red strikethrough/annotation over the text.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/22",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-22",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 23,
      "slideType": "section_divider",
      "function": "transition",
      "notes": "Spruce Point Capital Management branding (pine tree logo).",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/23",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-23",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 24,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses red boxes to highlight the 2023E projections for comparison against actuals mentioned in the text.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/24",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-24",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 25,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a 'before-after' or 'expose contradiction' structure by juxtaposing Zillow's growth claims with historical data and operational metrics.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/25",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-25",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 26,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses yellow highlighting to emphasize specific 'growth' buzzwords within the quotes.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/26",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-26",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 27,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a screenshot of a Zillow investor presentation to highlight the discrepancy between past promises and current silence.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/27",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-27",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 28,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a contrast-principle to highlight the discrepancy between management's growth narrative and the actual negative growth metrics.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/28",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-28",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 29,
      "slideType": "thesis_headline",
      "function": "diagnose_problem",
      "notes": "The chart shows quarterly data from Q1 2016 to Q4 2024.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/29",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-29",
      "loopMatches": [
        {
          "to": 30,
          "from": 29,
          "name": "Aha Moment",
          "slug": "03-aha-moment",
          "bestFor": "Data-heavy sections, research findings, analytical arguments",
          "matchId": "3c39e1dd-42b7-4d9b-9cb8-d690692de43d",
          "evidence": "The document presents a clear 'aha' moment by highlighting Zillow's stagnant revenue per visit and declining site traffic.",
          "position": 0,
          "objective": "To highlight Zillow's stagnant revenue per visit and declining site traffic.",
          "structure": "The Problem/Question -> What the Data Shows -> The Insight",
          "confidence": 0.8,
          "description": "Establish a tension, present data, then deliver the insight that changes everything"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 30,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Highlights the shift in reporting segments between 2022 and 2023 to mask declining Premier Agent performance.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/30",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-30",
      "loopMatches": [
        {
          "to": 30,
          "from": 29,
          "name": "Aha Moment",
          "slug": "03-aha-moment",
          "bestFor": "Data-heavy sections, research findings, analytical arguments",
          "matchId": "3c39e1dd-42b7-4d9b-9cb8-d690692de43d",
          "evidence": "The document presents a clear 'aha' moment by highlighting Zillow's stagnant revenue per visit and declining site traffic.",
          "position": 0,
          "objective": "To highlight Zillow's stagnant revenue per visit and declining site traffic.",
          "structure": "The Problem/Question -> What the Data Shows -> The Insight",
          "confidence": 0.8,
          "description": "Establish a tension, present data, then deliver the insight that changes everything"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 31,
      "slideType": "testimonial",
      "function": "expose_contradiction",
      "notes": "The slide uses a Q&A format to present expert testimony.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/31",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-31",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 32,
      "slideType": "testimonial",
      "function": "expose_contradiction",
      "notes": "The slide uses a table format to present a dialogue between an interviewer and a broker.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/32",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-32",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 33,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a table to present historical management quotes alongside a critique of their credibility.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/33",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-33",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 34,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a combination of narrative critique, a news clipping, and financial data to frame management as incompetent.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/34",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-34",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 35,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a table to highlight the poor financial performance of the Mortgages segment compared to other segments.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/35",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-35",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 36,
      "slideType": "section_divider",
      "function": "transition",
      "notes": "Spruce Point Capital Management branding (pine tree logo).",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/36",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-36",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 37,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses executive quotes to establish the business model's reliance on buyer-agent leads.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/37",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-37",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 38,
      "slideType": "cite_precedent",
      "function": "cite_precedent",
      "notes": "Includes a highlighted excerpt from a news source regarding the verdict.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/38",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-38",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b99-74af5c9e9edb",
      "docSlug": "de028a1085e6",
      "documentTitle": "Zillow Group, Inc. (Z)",
      "authorId": "54_Spruce_Point_Capital",
      "authorName": "Spruce Point Capital Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "short_seller",
      "sourceTypeLabel": "Short seller",
      "presentationDate": "2024-03-05 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 39,
      "slideType": "cite_precedent",
      "function": "cite_precedent",
      "notes": "Includes a direct quote from a legal filing/precedent regarding anti-competitive conduct.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b99-74af5c9e9edb/39",
      "deckHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-74af5c9e9edb#slide-39",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 50,
          "from": 21,
          "beatId": "2825f36d-3055-4526-b439-677abc0e48a8",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Evidence",
          "beatSlug": "evidence",
          "evidence": "The document presents evidence to support Spruce Point's claims, including data on Zillow's declining site traffic and revenue per visit.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    }
  ]
}