{
  "docId": "019dd923-622b-71dc-a6da-4f76d1ed07b0",
  "docSlug": "2d207abf9499",
  "documentTitle": "GoDaddy, News Corp, Fortrea",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2023-10-17 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 22,
  "pageCount": 70,
  "prevPage": 21,
  "nextPage": 23,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 10,
  "notes": "The slide uses a contrast between absolute FCF (missing) and FCF per share (meeting) to highlight financial engineering.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "callout_box",
    "bar_chart_grouped"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-4f76d1ed07b0/22",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-4f76d1ed07b0",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-4f76d1ed07b0.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-4f76d1ed07b0#slide-22",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.35,
        "x": 0.08,
        "y": 0.26
      },
      "kind": "callout",
      "text": "GoDaddy is expected to miss its 2024 free cash flow target by more than $150 million",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9c9ff8f8-d507-4912-9ea5-05b4fc31ecc9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.45,
        "x": 0.04,
        "y": 0.25
      },
      "kind": "chart",
      "text": "Free Cash Flow vs Targets",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "337b7eae-94a3-4e5a-b84c-53321be98fa0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.45,
        "x": 0.52,
        "y": 0.25
      },
      "kind": "chart",
      "text": "Free Cash Flow Per Share vs Targets",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ced47839-13c0-49a9-8d76-727ee6424fa4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.28,
        "x": 0.36,
        "y": 0.093
      },
      "kind": "legend",
      "text": "Investor Day Target | Actual / Guidance / Consensus",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a3eb19bd-c35b-48dd-ae34-66bcca4ceb16",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "free cash flow: $150 million",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-f5d0-745c-beb5-9cddeb3a42fe",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.9,
        "x": 0.04,
        "y": 0.14
      },
      "kind": "subtitle",
      "text": "Despite being expected to significantly miss its free cash flow targets, GoDaddy is on track to hit its free cash flow per share targets due to accelerated share repurchases at a lower-than-expected prices.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7ac8aba0-21a8-4bbc-8db4-5dbd27ba2453",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.7,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "Unfortunately, GoDaddy Is Expected to Significantly Miss Its Commitments (Cont'd)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "185d0b4b-d7b1-4e39-b173-b0fef0d54f7a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "contrast-pairs",
      "slug": null,
      "matchId": "c947e1d5-ac24-4fbd-8764-90a40f74b66e",
      "evidence": "The slide explicitly contrasts the failure to meet absolute FCF targets with the success in meeting per-share targets.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 30,
      "from": 21,
      "beatId": "e7ce04e0-d3d1-4b63-9f69-c60d3599a46a",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "The document provides supporting data and evidence for its claims.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 30,
      "from": 21,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "5d53bba9-7e3a-400a-bfe2-9211b03335c3",
      "evidence": "The document provides supporting data and evidence for its claims.",
      "position": 2,
      "objective": "What is the potential impact of Starboard Value's ideas on the companies' growth and profitability?",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "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
}