{
  "docId": "019dd923-622b-71dc-a6da-2986bb2f67e2",
  "docSlug": "b2898144f996",
  "documentTitle": "Multiple (Wix, Salesforce, Splunk, Vertiv) (WIX / CRM / SPLK / VRT)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-10-19 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 3,
  "pageCount": 51,
  "prevPage": 2,
  "nextPage": 4,
  "slideType": "before_after",
  "function": "illustrate_case",
  "density": "overcrowded",
  "nDataPoints": 4,
  "notes": "The slide highlights outperformance of specific investment ideas presented at a previous conference.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "line_chart",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-2986bb2f67e2/3",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-2986bb2f67e2",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-2986bb2f67e2.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-2986bb2f67e2#slide-3",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.12,
        "x": 0.84,
        "y": 0.305
      },
      "kind": "callout",
      "text": "+59% outperformance",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cf1a718f-9bc7-4331-b5eb-8607df177fd0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.12,
        "x": 0.84,
        "y": 0.605
      },
      "kind": "callout",
      "text": "+4% outperformance",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fb1a8031-84ed-4c22-8bb0-fc32094757e4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Our ideas from last year have outperformed the market over the past 12 months.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-25b5-768c-bb3b-7002d31f1eb0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.92,
        "x": 0.04,
        "y": 0.23
      },
      "kind": "chart",
      "text": "Indexed performance chart of CTVA, WTW, and S&P 500 from Oct-21 to Oct-22.",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "39f6e1c7-8477-4f1a-bf22-9f0270014e55",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "outperformance: +59%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-25b5-768c-bb3b-75d8d82ad7fb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.04,
        "y": 0.13
      },
      "kind": "paragraph",
      "text": "Both Corteva and Willis Towers Watson have delivered outsized returns relative to the broader market.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6b3c8d04-5f52-4944-8569-23677b9ccb3c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.65,
        "x": 0.01,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: Capital IQ. Returns adjusted for dividends and are from October 20, 2021, the day prior to Starboard's presentation at last year's Capitalize for Kids conference, to October 19, 2022. Note: Past performance is not indicative of future results.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c7cc7417-9541-414c-93cc-1a9142e11316",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.35,
        "x": 0.04,
        "y": 0.07
      },
      "kind": "title",
      "text": "Update on Last Year's Ideas",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "238b917c-f314-4995-b4ae-92b555e3984e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Before-After-Bridge",
      "slug": "before-after-bridge",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "ab6150b8-ef64-4822-a6e7-7caec88d86ed",
      "evidence": "Update on Last Year's Ideas with performance comparison",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [
    {
      "to": 51,
      "from": 3,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "824c4208-889f-48bf-9ad5-bbaa9f13ff3c",
      "evidence": "The document presents a clear before-and-after analysis for companies like Wix, Salesforce, and Splunk",
      "position": 0,
      "objective": "To show how companies can improve their valuation multiples through operational improvement",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.8,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}