{
  "docId": "019dd923-622c-750b-8b99-1b3c88355559",
  "docSlug": "08d6aefbccb5",
  "documentTitle": "Genius Sports Limited (GENI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-08-05 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 45,
  "pageCount": 61,
  "prevPage": 44,
  "nextPage": 46,
  "slideType": "precedent_table",
  "function": "cite_precedent",
  "density": "balanced",
  "nDataPoints": 5,
  "notes": "The slide uses historical precedents to frame the target company's business model as inherently risky and prone to regulatory scrutiny.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "data_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-1b3c88355559/45",
  "deckHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-1b3c88355559#slide-45",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Genius essentially barters its technology for league data, which it then sells to sportsbooks. Given the subjectivity and managerial discretion on placing values for exchanged services in barter transactions, they have often been heavily scrutinized by the SEC and are susceptible to accounting fraud.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-e6ec-7186-b7c5-11a9b1ef2479",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "Genius essentially barters its technology for league data, which it then sells to sportsbooks. Given the subjectivity and managerial discretion on placing values for exchanged services in barter transactions, they have often been heavily scrutinized by the SEC and are susceptible to accounting fraud.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "03de7f67-f9fd-4b7e-b1d4-28725c80279e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"Filed false and misleading financial statements.\" \"Artificially inflated its revenue and gross margin recognition by fraudulently recognizing revenue on barter transactions...\" — The North Face (SEC Filing Quote)",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-e6ec-7186-b7c5-15932aa51fc7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.88,
        "x": 0.06,
        "y": 0.29
      },
      "kind": "table",
      "text": "SEC Charged Barter Frauds table with columns: Year, Company, SEC Filing Quote, Source",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4947f2f7-d967-41fb-a482-ca1a374ac699",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.65,
        "x": 0.305,
        "y": 0.05
      },
      "kind": "title",
      "text": "History Of Barter Related Frauds And Settlements",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "13bcd0cc-7aa3-491e-a034-2979ccd1ef6f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "authority-citation",
      "slug": null,
      "matchId": "00e90cfa-f2ae-4bfb-b749-0346338c8205",
      "evidence": "Citing SEC filings to establish credibility and regulatory risk.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 53,
      "from": 8,
      "beatId": "f3e1ffe1-c3ed-402d-bf3c-dc6cefa18b8e",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitation",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The deck agitates the problem by detailing various concerns, including unrealistic growth assumptions, questionable revenue recognition practices, and financial strain.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}