{
  "docId": "019dd923-5ca1-7489-b637-ff5959cc3717",
  "docSlug": "13eb135e1f137482",
  "documentTitle": "Brazil Education Technology Market L.E.K. Perspectives",
  "authorId": "LEK",
  "authorName": "L.E.K.",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.778,
  "pageNumber": 6,
  "pageCount": 34,
  "prevPage": 5,
  "nextPage": 7,
  "slideType": "industry_trends",
  "function": "compare_peers",
  "density": "overcrowded",
  "nDataPoints": 9,
  "notes": "Includes a quote from a portfolio manager and specific methodology for the Brazil index calculation.",
  "elementsJson": [
    "headline_text",
    "bar_chart_vertical",
    "bar_chart_vertical",
    "callout_box",
    "footnote",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5ca1-7489-b637-ff5959cc3717/6",
  "deckHref": "/decks/019dd923-5ca1-7489-b637-ff5959cc3717",
  "deckJsonHref": "/decks/019dd923-5ca1-7489-b637-ff5959cc3717.json",
  "deckAnchorHref": "/decks/019dd923-5ca1-7489-b637-ff5959cc3717#slide-6",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Investors in tech stocks have changed their perspective since late 2021, in line with the macroeconomic trends - persistent inflation, war, and the looming recession",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd951-c7ca-701b-9cb9-658c5b7a7600",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.35,
        "x": 0.05,
        "y": 0.2
      },
      "kind": "chart",
      "text": "% of Companies (global) with present prices lesser than Pre-pandemic 2020 prices",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0ff2ee35-990d-476e-ad39-ebfb287aa13e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.3,
        "x": 0.4,
        "y": 0.2
      },
      "kind": "chart",
      "text": "Major technology indices price movement from 2020 to 2022",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "63812fe2-3d42-4c13-9899-59c6bb704921",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Percentage change: 248%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd951-c7ca-701b-9cb9-6c4a97922377",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.25,
        "x": 0.72,
        "y": 0.25
      },
      "kind": "paragraph",
      "text": "Investors in tech stocks have changed their perspective since late 2021, in line with the macroeconomic trends - persistent inflation, war, and the looming recession. This has caused some of the tech indices major indices to fall as much as 49% even from their post pandemic prices. 50-60% of Software, Internet and Fintech companies are currently trading at prices lower than their pre-pandemic prices.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "51472cf1-1262-4246-92b0-0f67e27fa9f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.25,
        "x": 0.72,
        "y": 0.65
      },
      "kind": "quote",
      "text": "Brazil is trading at a 30% discount to historical averages, while the rest of the world is at a 5% premium, \"There should be positive equity returns on a 12- to 24-month view\" -- Daniel Gewehr, portfolio manager at São Paulo-based WHG Asset.",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4d51ba3e-98b5-4f21-9ad1-e2a037502602",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"Brazil is trading at a 30% discount to historical averages, while the rest of the world is at a 5% premium, \"There should be positive equity returns on a 12- to 24-month view\" -- Daniel Gewehr, portfolio manager at São Paulo-based WHG Asset.",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd951-c7ca-701b-9cb9-68bb9f4d61cf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.8,
        "x": 0.05,
        "y": 0.85
      },
      "kind": "source-note",
      "text": "Note: 1All prices are captured in May 2022, Year-on-Year changes in price are calculated from 4th quarter of recent year over 4th quarter of previous year. For BOVSPA (Brazil) since there isn't any tech index, a weighted average of the prices of top 5 (Multilaser, Intebras, Positivo, Allied Technology, Livetech) tech stocks (taking weights in the ratio of their free float market capitalization) has been taken. Source: Sequoia Capital, L.E.K. research and analysis",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5133bfcd-4e3c-47db-b6c3-6147353fef4f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "~2/3 of technology-driven companies are currently trading below pre-pandemic 2020 prices, with some of the major tech indices declining to as low as ~50% from their pre-pandemic prices. However the tech stocks in Brazil have demonstrated resilience relative to other major tech indices",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7d60de25-ac27-4937-8827-e320594928a7",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [
    {
      "metricRaw": "Percentage change",
      "numberRaw": "248%",
      "numberKind": "percent",
      "actionTitle": "~2/3 of technology-driven companies are currently trading below pre-pandemic 2020 prices, with some of the major tech indices declining to as low as ~50% from their pre-pandemic prices. However the tech stocks in Brazil have demonstrated resilience relative to other major tech indices",
      "calloutText": "Investors in tech stocks have changed their perspective since late 2021, in line with the macroeconomic trends - persistent inflation, war, and the looming recession",
      "numberScale": null,
      "numberValue": 248,
      "metricFamily": "other",
      "numberCurrency": null
    }
  ],
  "tools": [
    {
      "name": "Action Titles",
      "slug": "action-titles",
      "agent": "Architect",
      "layer": "slide",
      "matchId": "019de7d8-f885-7289-ad00-cc286d16e3f0",
      "evidence": "Long action title states Brazil resilience",
      "confidence": 85
    },
    {
      "name": "Authority Bias",
      "slug": "authority-bias",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "019de7d8-f8d6-70bf-bb1d-3c3c71347661",
      "evidence": "Named expert (Daniel Gewehr) cited",
      "confidence": 75
    },
    {
      "name": "Chart Selection Guide",
      "slug": "chart-selection-guide",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "bc484d34-0fe1-4732-88c0-a253ca671f91",
      "evidence": "The slide contains bar charts showing % of Companies (global) with present prices lesser than Pre-pandemic 2020 prices and Major technology indices price movement from 2020 to 2022.",
      "confidence": 0.7
    },
    {
      "name": "Credibility Transfer",
      "slug": "credibility-transfer",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "019de7d8-f8ac-72d4-8186-d8159cf0ca17",
      "evidence": "Direct quote from named portfolio manager",
      "confidence": 80
    },
    {
      "name": "Lie Factor",
      "slug": "lie-factor",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "019de7d8-f95a-765a-bde9-ab706404e0fc",
      "evidence": "Broken axis used for 248% outlier",
      "confidence": 55
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 9,
      "from": 1,
      "beatId": "019de7d8-f35a-72cf-ad06-1c8854cbd234",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Situation & Context",
      "beatSlug": null,
      "evidence": "BVSP vs global indices benchmark (p3-9)",
      "position": 1,
      "confidence": 85,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 12,
      "from": 3,
      "beatId": "019de7d8-f496-76e8-bc3a-861f34950e44",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Facts (What)",
      "beatSlug": null,
      "evidence": "Index and earnings data analysis",
      "position": 1,
      "confidence": 60,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 9,
      "from": 5,
      "name": "Benchmark Gap",
      "slug": "39-benchmark-gap",
      "bestFor": "Performance improvement, competitive analysis, target setting",
      "matchId": "019de7d8-f567-75db-97ba-9a2042e3993a",
      "evidence": "Multiple charts comparing BVSP and LATAM EdTech vs global peers (p5,8,9).",
      "position": 1,
      "objective": "Show Brazil/LATAM resilience vs global benchmarks",
      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
      "confidence": 85,
      "description": "Compare performance against best-in-class to quantify the opportunity"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}