{
  "docId": "019dd923-622c-750b-8b97-54a6fb10e23b",
  "docSlug": "93911ff05740",
  "documentTitle": "Vivion Investments",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-03-28 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 9,
  "pageCount": 36,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "appendix_data",
  "function": "appendix",
  "density": "balanced",
  "nDataPoints": 40,
  "notes": "The table includes columns for portfolio, date acquired, contribution methodology, seller, number of properties, total purchase price, acquisition financing, equity value, SHL portion of EV, and common equity portion of EV.",
  "elementsJson": [
    "data_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b97-54a6fb10e23b/9",
  "deckHref": "/decks/019dd923-622c-750b-8b97-54a6fb10e23b",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b97-54a6fb10e23b.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b97-54a6fb10e23b#slide-9",
  "components": [
    {
      "bbox": {
        "h": 0.02,
        "w": 0.76,
        "x": 0.12,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "Vivion's Founding Shareholders' equity contributions / acquisitions through 2018 (see Appendix for supporting documents)",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6f87167b-98e4-4b4d-9af5-9e4d6152ed5c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.01,
        "w": 0.15,
        "x": 0.12,
        "y": 0.38
      },
      "kind": "source-note",
      "text": "Source: Vivion Investments",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "44f08c6c-ff88-4ed0-851f-1fe2397c4ec3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.76,
        "x": 0.12,
        "y": 0.18
      },
      "kind": "table",
      "text": "Table showing acquisition details for German Properties, Ribbon, Zinc, and Hallmark portfolios.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "094bd376-14c4-4243-9222-6cecd8532a88",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.28,
        "x": 0.36,
        "y": 0.11
      },
      "kind": "title",
      "text": "Appendix: Vivion's Background",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fbad3ab3-f8d5-4f73-acf7-6ce1d67e5ec1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.26,
        "x": 0.37,
        "y": 0.41
      },
      "kind": "title",
      "text": "Vivion's Background: Figure 1",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c74fd748-05e2-4e4d-8445-894247289880",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 10,
      "from": 6,
      "beatId": "378dad94-632d-43f1-a2c5-2825d0a8ab2a",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The document highlights overvaluation of German properties and misleading statements about Rent24's significance",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 9,
      "from": 4,
      "name": "Iceberg",
      "slug": "10-iceberg",
      "bestFor": "Consulting, complex problem solving, organizational change",
      "matchId": "8e299f6b-0cd0-4152-b930-20df825dd8c8",
      "evidence": "The document uncovers inaccuracies in Vivion's property valuation",
      "position": 0,
      "objective": "Reveal hidden information about Vivion's properties",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
      "confidence": 0.7,
      "description": "Reveal that the visible problem is merely a symptom of a deeper root cause"
    },
    {
      "to": 36,
      "from": 2,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "c267ed65-eae5-4441-a31b-25299c9e8ace",
      "evidence": "The document emphasizes the importance of accurate information for investors and regulators",
      "position": 1,
      "objective": "Highlight the consequences of not correcting misinformation",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}