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  "documentTitle": "Dropbox, Inc. (DBX)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2020-02-06 00:00:00",
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      "text": "Dropbox Won't Disclose Historical Attrition Or Regular Churn",
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      "text": "Dropbox amortizes sales commission costs over an associated benefit period of five years... Spruce Point believes that a five-year amortization period for sales commissions is overly-aggressive...",
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      "text": "Source: Dropbox 2018 10-K. In Q1 2019, \"the Company retired $41.7 million in fully amortized developed technology assets.\"",
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      "text": "Evidence of Inflated Earnings Too",
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