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  "documentTitle": "Forescout Technologies (FSCT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2020-05-13 00:00:00",
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  "notes": "The slide uses a split-column layout to contrast Forescout's declining relevance with the comprehensive offerings of competitors.",
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      "kind": "callout",
      "text": "Forescout Losing Its Industry Positioning With The Shift To The Cloud...",
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      "kind": "callout",
      "text": "...And Other Players Can Provide More Comprehensive Offerings",
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      "text": "Spruce Point believes that the recent deceleration in Forescout's growth is largely a product of the Company's failure to keep pace with industry trends, which will continue to weigh on performance going forward.",
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      "text": "Forescout Score 627 vs Tanium Score 836",
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      "text": "Security Score: 627",
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      "kind": "paragraph",
      "text": "An expert we spoke to gave his opinion that Forescout is being left behind as the focus on cybersecurity shifts to the cloud. As both public and private sector organizations increasingly rely on cloud platforms like Amazon AWS and Microsoft Azure, Forescout’s solution – which experts describe as primarily “on-premise” and for end-use devices – is becoming less and less critical to customers’ approach to cybersecurity. Meanwhile, the expert told us that competitors such as Tanium provide more comprehensive, cloud-friendly solutions which can be sold in bundles to satisfy a broader swath of customers’ cybersecurity needs. Product bundling leads to pricing pressure. Spruce Point believes that the recent deceleration in Forescout’s growth is largely a product of the Company’s failure to keep pace with industry trends, which will continue to weigh on performance going forward.",
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      "text": "They're mostly on-campus, they're mostly on-prem. And as I shift to the cloud, a lot of those security requirements go away - not go away, but shift away from who's responsible, now to the cloud provider.... [Forescout] will get hurt and they don't shift more to the cloud.",
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      "kind": "quote",
      "text": "It was about 2010 that this whole cybersecurity thing came in... Now, it's starting to wane from a general perspective. And Forescout, because they are 95% cyber, is going to take a bigger hit... And Forescout ends up being - it's just nice to have, instead of a must-have.",
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      "kind": "quote",
      "text": "And [end-point is] almost the last thing you're going to build out when you build out your whole security approach... Tanium is going to come in and offer a dozen different services, and end-point security is just one of them.",
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      "kind": "quote",
      "text": "\"It was about 2010 that this whole cybersecurity thing came in... And Forescout ends up being - it's just nice to have, instead of a must-have.\" — Cybersecurity Expert, Former Forescout Employee; \"And [end-point is] almost the last thing you're going to build out when you build out your whole security approach... Tanium is going to come in and offer a dozen different services, and end-point security is just one of them.\" — Cybersecurity Expert, Former Forescout Employee; \"They're mostly on-campus, they're mostly on-prem. And as I shift to the cloud, a lot of those security requirements go away - not go away, but shift away from who's responsible, now to the cloud provider.... [Forescout] will get hurt and they don't shift more to the cloud.\" — Cybersecurity Expert, Former Forescout Employee",
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      "text": "Missing The Boat On Critical Industry Developments",
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