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  "documentTitle": "Joyy Inc. (YY)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-11-18 00:00:00",
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  "notes": "The slide uses a combination of quantitative data tables and qualitative analysis of bot behavior to support a fraud thesis.",
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      "text": "We believe the 85.9% gap between the RMB 156.3 million in revenue in the credit bureau reports and YY's claimed RMB 1.1 billion is suggestive of massive fraud.",
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      "text": "As we detail infra, we also discovered that the majority of three top YY Live performers' gift revenue comes from themselves and from YY-controlled bots.",
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      "text": "4Q19 Top Channel Owners",
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      "text": "Top Channel Owners Revenues: YY vs. SAIC",
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      "text": "Roundtripping and Fraud is Rife on YY Live",
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