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  "documentTitle": "Align Technology, Inc. (ALGN)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2020-04-09 00:00:00",
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  "notes": "Uses testimonials and news headlines to frame the threat of commoditization.",
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      "text": "Spruce Point believes that the aggressive entry of third-party 3D printing labs into the clear aligner space could quickly render the aligner a low-value-added commodity in short order.",
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      "text": "Spruce Point believes that the aggressive entry of third-party 3D printing labs into the clear aligner space could quickly render the aligner a low-value-added commodity in short order.",
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      "text": "Third-Party 3D Printing Labs Quickly Gaining Traction After Coming To Market Only Recently",
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      "text": "Third-Party 3D Printing Labs Quickly Ramping Up Aligner Printing Capacity",
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      "text": "Align bulls may be inclined not to take third-party 3D printing labs seriously as a potential Invisalign competitor. Spruce Point would strongly advise that investors not underestimate this emerging threat.",
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      "text": "The need for Invisalign is diminishing. Dental laboratories are going to have the software and printing capabilities to compete with Invisalign.",
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      "text": "Our [buying] group has a committee looking to get a relationship with one of these as our own print farm.",
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      "kind": "quote",
      "text": "We are at the point where we can switch to another clear aligner vender... There are over 100 aligner companies coming out of Asia.",
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      "text": "\"Our [buying] group has a committee looking to get a relationship with one of these as our own print farm.\" — Orthodontist, Platinum Align Tier; \"There are over 100 aligner companies coming out of Asia. Two to three years from now, I don't see how Invisalign will see the same amount of cases that they had in the past.\" — Dentist, DSO; \"The need for Invisalign is diminishing. Dental laboratories are going to have the software and printing capabilities to compete with Invisalign. The production costs will not be as cheap as Invisalign [per aligner], but the lab will not need the same margin as Align because they won't have to cover advertising costs. This is going to cause significant pricing pressure in the industry. Today, we have a few big competitors. As soon as labs get involved, there will be different pricing.\" — Former C-Level Executive, Major Dental Equipment Company",
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      "text": "Third-Party Labs New To The Space, But Ramping Quickly, And Proactively Marketing To Doctors",
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