{
  "docId": "019dd923-622b-71dc-a6dc-022165a95b3b",
  "docSlug": "b11f53a9759d",
  "documentTitle": "ADT Corporation (ADT)",
  "authorId": "11_Corvex",
  "authorName": "Keith Meister",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-10-24 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.70665085,
  "pageNumber": 49,
  "pageCount": 50,
  "prevPage": 48,
  "nextPage": 50,
  "slideType": "villain_critique",
  "function": "name_villain",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "The slide uses a list of negative attributes to discredit the cable industry as a benchmark.",
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  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dc-022165a95b3b/49",
  "deckHref": "/decks/019dd923-622b-71dc-a6dc-022165a95b3b",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-022165a95b3b.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-022165a95b3b#slide-49",
  "components": [
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      "kind": "list",
      "text": "Pay-TV is saturated / fully-penetrated industry\nHigh speed internet still growing, but blended cable revenue growth still lower than home security by ~30-40%\nSeveral well capitalized competitors trying to steal existing subscribers in any given market\nBusiness model based on distributing another company's content\nIndustry facing declining margins in video product due to rising content costs\nPoor customer satisfaction (negative net promoter scores)\nRequires centralized network maintenance capex\nFCF benefitting from hiatus in growth capex after industry-wide rollout of DOCSIS 3.0",
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      "bbox": {
        "h": 0.03,
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        "x": 0.238,
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      },
      "kind": "title",
      "text": "Cable's Relevance as Comp Group Overstated",
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      "subkind": "headline",
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  "loops": [
    {
      "to": 49,
      "from": 42,
      "name": "David Goliath",
      "slug": "16-david-goliath",
      "bestFor": "Startups, disruptive innovation, competitive displacement",
      "matchId": "5881a627-ca71-444a-8fa4-55ff7c937627",
      "evidence": "Slides 42-49 address bear arguments and cable's relevance as a competitor.",
      "position": 1,
      "objective": "Address potential bear arguments and cable entry/threat.",
      "structure": "The Giant's Weakness -> Our Slingshot (Unique Edge) -> The Topple",
      "confidence": 0.6,
      "description": "Frame your initiative as the nimble underdog taking on a slow, bloated incumbent"
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