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  "documentTitle": "Momo, Inc. (MOMO)",
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  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-06-27 00:00:00",
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  "notes": "Uses a side-by-side comparison of primary source text and analyst interpretation to expose management's pivot away from organic growth.",
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      "kind": "callout",
      "text": "Gone are the days where talent just appeared from our User Base at no cost to us.",
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      "text": "The move towards professional content requires us to be dependent on agencies.",
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      "text": "Spruce Point Interpretation: Industry is maturing and competition is about to become much more credible.",
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      "text": "No longer looking to diversify across talent w/ our algorithm, look to concentrate instead.",
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      "kind": "callout",
      "text": "\"Cam girl\" isn't a sustainable career compared to pushing products for our competitors. Changing our image can't hurt advertising revenue either.",
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      "text": "Tang Yan Q3 '17 Earnings Call: [Transcript text...]",
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      "text": "Given the lack of data transparency into Momo's businesses, one must pay particular attention to management's (translated) comments. Based on recent statements, it appears that they are looking to diversify from Live Video while becoming increasingly dependent on agencies.",
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      "text": "Strategic Shift After Flattening Paid User Growth In Live Video During Q2 And Q3 2017 (Cont'd)",
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