{
  "docId": "019dd923-5e88-73ef-bd5c-fd5012384ae3",
  "docSlug": "bf350dd574c19997",
  "documentTitle": "2021 Air Street Capital The State of AI Report 2021",
  "authorId": "AirStreetCapital",
  "authorName": "Air Street Capital",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "vc_research",
  "sourceTypeLabel": "VC research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.777,
  "pageNumber": 122,
  "pageCount": 188,
  "prevPage": 121,
  "nextPage": 123,
  "slideType": "data_table",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 35,
  "notes": "Data source: Koyfin. Stock price data as of 30 Aug 2021.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "data_table",
    "line_chart",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5c-fd5012384ae3/122",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5c-fd5012384ae3",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5c-fd5012384ae3.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5c-fd5012384ae3#slide-122",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "None of these companies had significant revenue going into their SPAC.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-47c4-7719-a20c-f3f04b8c9418",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.45,
        "x": 0.5,
        "y": 0.43
      },
      "kind": "chart",
      "text": "Stock performance chart of 7 LiDAR companies from Jan 4 to Oct 1",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8558096e-2f28-4f6e-8bf0-892d7197e1fd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Stock price performance: $12.4B",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-47c4-7719-a20c-f40f2acd32a2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.9,
        "x": 0.05,
        "y": 0.21
      },
      "kind": "paragraph",
      "text": "AEye, Quanergy, Ouster, Innoviz, Aeva, Luminar, and Velodyne raised $1.3B in private markets, $2.9B via SPACs, and went public at a cumulative valuation of $12.4B. None of these companies had significant revenue going into their SPAC.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a680edb0-eba5-43f1-85f4-ce6b28e90f59",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Note: Gross proceeds = PIPE + cash in trust, stock price data from 30 Aug 2021",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ba7886fb-c1bd-48ce-9f86-94af36322b7c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.45,
        "x": 0.05,
        "y": 0.5
      },
      "kind": "table",
      "text": "Company, VC Raised ($M), SPAC Raised ($M), SPAC EV ($B), 2024E Rev ($M). AEye, 89, 455, 1.9, 175. Quanergy, 135, 316, 1.1, 255. Ouster, 132, 300, 1.6, 818. Innoviz, 252, 350, 1.0, 237. Aeva, 47, 563, 1.8, 286. Luminar, 426, 570, 3.4, 418. Velodyne, 225, 325, 1.6, 680.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dd4ce19c-f3f0-42bb-a3c6-a4a148bc753f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.05,
        "y": 0.14
      },
      "kind": "title",
      "text": "All seven major private LiDAR companies have SPAC'd and trade below their IPO price",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b82b2f70-6919-411c-b072-4a398b44f992",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 152,
      "from": 5,
      "beatId": "019dd95a-0682-776c-8e35-0affbadec38e",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Facts (What)",
      "beatSlug": "triple-take-the-facts-what",
      "evidence": "Definitions p.5-6, Exec Summary p.7, then Sections 1-3 catalog evidence.",
      "position": 1,
      "confidence": 78,
      "parentBeatName": "Setup",
      "parentBeatSlug": "setup"
    },
    {
      "to": 152,
      "from": 10,
      "beatId": "019dd95a-0682-776c-8e35-1b3ee3a1c012",
      "arcName": "The Mountain",
      "arcSlug": "mountain",
      "beatName": "Rising Action",
      "beatSlug": "mountain-rising-action",
      "evidence": "Three sections accumulating evidence of accelerating progress.",
      "position": 2,
      "confidence": 55,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 123,
      "from": 119,
      "name": "Pattern Hunter",
      "slug": "02-pattern-hunter",
      "bestFor": "Time-pressed audiences, building consensus, when data is strong",
      "matchId": "019dd95a-07fe-70ce-8d3d-7ce2e2a22292",
      "evidence": "Cybersecurity AIs, Snowflake/UiPath/Confluent IPOs, Databricks $38B, LiDAR SPACs, AV consolidation.",
      "position": 16,
      "objective": "Show AI companies dominating public markets",
      "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
      "confidence": 75,
      "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}