{ "docId": "019dd923-622c-750b-8b98-e0497bacd3c2", "docSlug": "44aa04154472", "documentTitle": "Align Technology, Inc. (ALGN)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2020-04-09 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 59, "pageCount": 84, "prevPage": 58, "nextPage": 60, "slideType": "testimonial", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 1, "notes": "The slide uses direct quotes to frame Align as an antagonist to its own customer base.", "elementsJson": [ "headline_text", "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b98-e0497bacd3c2/59", "deckHref": "/decks/019dd923-622c-750b-8b98-e0497bacd3c2", "deckJsonHref": "/decks/019dd923-622c-750b-8b98-e0497bacd3c2.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-e0497bacd3c2#slide-59", "components": [ { "bbox": null, "kind": "callout", "text": "Many dentists and orthodontists report a high level of dissatisfaction with Align’s business practices.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-0391-77f4-a9e7-6055da0ad8c6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.16 }, "kind": "paragraph", "text": "Many dentists and orthodontists report a high level of dissatisfaction with Align’s business practices. Notably, Align recently announced that, for US dental practitioners, third-party intra-oral scanners would no longer be compatible with Align’s software, forcing them to purchase its own proprietary iTero scanners in order to continue to offer Invisalign.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f44325fe-2936-4cc3-a09e-4c9a09601bb5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.43, "x": 0.29, "y": 0.81 }, "kind": "quote", "text": "It would be the best thing to come out of this [pandemic]. Invisalign getting f*cked.” - Orthodontist, Platinum Tier", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "35fc2fb4-36ce-42b3-b953-5bec45db24c7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.43, "x": 0.52, "y": 0.32 }, "kind": "quote", "text": "I hate Invisalign. I think they are the worst company in the world to deal with. I philosophically hate what Invisalign has turned my practice into.... I am sick and tired of Invisalign taking my information and using it against me. You don’t see 3M or Ormco doing that... Invisalign is not a company that I am partnered with. They are not going to help me. It is simply a product that I am going to buy and eventually I will move to a competitor. I have no loyalty to Invisalign.... It is just a matter of time that I move as much of my case volume as possible away from Invisalign.” - Orthodontist, Diamond Plus Align Tier", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "66ba42df-d85a-4fe6-829e-205d6bff698b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.43, "x": 0.06, "y": 0.32 }, "kind": "quote", "text": "I bought 3 Trios wireless scanners.... I am very angry with Align that they will fight a legal battle over the backs of their customers. I have invested more than $150K in Trios scanners and then from one day to the next they may say to me, ‘I am sorry, you can not use your scanner to submit cases that way.’” - Orthodontist (Ex-US)", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "67c37cb2-552e-43ba-bb0d-287886ce45f1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.43, "x": 0.06, "y": 0.63 }, "kind": "quote", "text": "There is a 50% chance that we move away from Invisalign when our contract comes up in 2020 and for me to say that is a big deal. It’s a really big deal. I personally have not been happy with the service for the last year and half.” - Dentist, Top 10 DSO", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "79b55a04-a996-4fa4-a3d9-09f9f6970518", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.43, "x": 0.52, "y": 0.63 }, "kind": "quote", "text": "Clear aligners cases will go up in my practice, but Invisalign will not.... Invisalign is the evil empire.” - Orthodontist, Diamond Plus Align Tier", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8c89c740-5926-4f0f-ad01-8cd26854b68e", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"I bought 3 Trios wireless scanners.... I am very angry with Align that they will fight a legal battle over the backs of their customers. I have invested more than $150K in Trios scanners and then from one day to the next they may say to me, ‘I am sorry, you can not use your scanner to submit cases that way.’” — Orthodontist (Ex-US); \"I hate Invisalign. I think they are the worst company in the world to deal with. I philosophically hate what Invisalign has turned my practice into.... I am sick and tired of Invisalign taking my information and using it against me. You don’t see 3M or Ormco doing that... Invisalign is not a company that I am partnered with. They are not going to help me. It is simply a product that I am going to buy and eventually I will move to a competitor. I have no loyalty to Invisalign.... It is just a matter of time that I move as much of my case volume as possible away from Invisalign.\" — Orthodontist, Diamond Plus Align Tier; \"There is a 50% chance that we move away from Invisalign when our contract comes up in 2020 and for me to say that is a big deal. It’s a really big deal. I personally have not been happy with the service for the last year and half.\" — Dentist, Top 10 DSO; \"Clear aligners cases will go up in my practice, but Invisalign will not.... Invisalign is the evil empire.\" — Orthodontist, Diamond Plus Align Tier; \"It would be the best thing to come out of this [pandemic]. Invisalign getting f*cked.\" — Orthodontist, Platinum Tier", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-0391-77f4-a9e7-677661dea610", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.5, "x": 0.28, "y": 0.03 }, "kind": "title", "text": "Less Of A Partner, More Of A Sales Organization", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "14085b96-e9ed-4e61-89ba-34963491cedc", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "antagonist-introduction", "slug": null, "matchId": "248ef749-576f-4fa8-82d4-e2816f6cfb75", "evidence": "Framing the company as an 'evil empire' and 'worst company in the world' to build a case against them.", "confidence": 0.9 } ], "arcBeats": [ { "to": 84, "from": 41, "beatId": "422ae0e1-bf81-40de-97fd-5008b09953d5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution (Provide relief)", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document presents Spruce Point's short sell opinion and argues that the stock is poised for significant downside.", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }