{
  "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": 44,
  "pageCount": 51,
  "prevPage": 43,
  "nextPage": 45,
  "slideType": "comparison_table",
  "function": "expose_gap",
  "density": "dense",
  "nDataPoints": 2,
  "notes": "The slide uses a red-shaded area to visually emphasize the performance gap between the two indices.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "line_chart",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-2986bb2f67e2/44",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-2986bb2f67e2",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-2986bb2f67e2.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-2986bb2f67e2#slide-44",
  "components": [
    {
      "bbox": {
        "h": 0.2,
        "w": 0.08,
        "x": 0.88,
        "y": 0.55
      },
      "kind": "callout",
      "text": "106% underperformance",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d2763276-9aaf-49db-b00e-eb4166326a9e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.92,
        "x": 0.04,
        "y": 0.25
      },
      "kind": "chart",
      "text": "De-SPAC Index Performance vs. S&P500",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b42b826d-4113-45a8-92c1-a59a28ee5ffd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "underperformance: 106%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-25b5-768c-bb3f-b57f53c5231b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.7,
        "x": 0.04,
        "y": 0.14
      },
      "kind": "paragraph",
      "text": "Technical factors relating to the de-SPAC have weighed on Vertiv's performance relative to the broader market.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dd543e19-ae84-456c-bbeb-57a2eb4e4f39",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.7,
        "x": 0.04,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Bloomberg. Market data as of October 19, 2022. (1) Returns are adjusted for dividends and are from April 10, 2020, which is the first day of available data for the De-SPAC Index, to October 19, 2022.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b9c3b738-0ec9-4a36-87b3-134e314008f2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.75,
        "x": 0.04,
        "y": 0.07
      },
      "kind": "title",
      "text": "Vertiv's Status as a De-SPAC Has Weighed on Performance",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "854617fd-f686-4e6d-92ef-0f998053053b",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "7bcd2b20-1681-4ec1-b3f3-f10d44d255ab",
      "evidence": "Visual comparison of two indices over time to highlight performance gap.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 51,
      "from": 13,
      "beatId": "deb95d14-7adb-47e7-a301-c46ca5c27508",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The document suggests a solution (margin expansion and disciplined capital allocation) and highlights specific companies with significant upside potential",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "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
}