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  "documentTitle": "Lightspeed Commerce, Inc. (LSPD)",
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      "text": "1. Executive Summary\n2. Evidence That Lightspeed Materially Overstated its Customers, TAM, GTV, Office Locations And Revenue Growth Pre-IPO\n3. Evidence That Lightspeed’s Numbers Appear Too Good To Be True\n4. We Believe Lightspeed Is A Poor Man’s Shopify And Will See Increased Pressure From Square, Adobe And Amazon\n5. Evidence of a Struggling Core Business Before Acquisitions Kick Into Full Gear\n6. Evidence of Repeated Terrible Acquisitions\na. Did Lightspeed Pay Anything For Crank Logic?\nb. Weak Early Deals Chronogolf, iKentoo, Kounta\nc. Gastrofix: Expecting a Deal To Fail From The Onset?\nd. ShopKeep (Nearly Defaulted) and Upserve (A Greedy Business): Shady Expense Management And Revenues Not Adding Up\ne. Vend: Fictitious or Non-Paying Customers and a History of Failed Aspirations\nf. Ecwid and NuORDER Growth Challenges\n7. Dissecting The Hype On “Lightspeed Payments” – A Key Part Of The Upside Story\n8. Questionable CFO, Auditor And Board That Rewards Fiscal Irresponsibility\n9. Valuation: 60% – 80% Downside Potential",
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