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  "documentTitle": "Genius Sports Limited (GENI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-08-05 00:00:00",
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  "notes": "Uses a bar chart to contrast revenue multiples and growth rates between Genius and various peer segments.",
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      "kind": "callout",
      "text": "Genius compares itself to \"Online Gaming\" peers, however, we believe these consumer-focused companies with brand recognition are not direct peers to Genius",
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      "kind": "list",
      "text": "Online Gaming: DraftKings, Landcadia Holdings II / Golden Nugget Online Gaming, dMY Technology Group / Rush Street Interactive, PointsBet Holdings Limited",
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      "text": "Spruce Point believes Genius' self-selected peers are not an accurate representation of Genius' market opportunity. Genius, a middleman backend data provider, does not have the brand recognition of customer focused online betting and gaming companies such as DraftKings. As a result, Genius is unlikely to capture a large share of the industries' economics as the online gaming market continues to scale.",
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      "text": "Source: Genius Sports Investor Presentation",
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      "text": "Genius' Peers Are Not Comparable",
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