{ "docId": "019dd923-622c-750b-8b99-2905b0287b60", "docSlug": "87c1ab1e2597", "documentTitle": "TaskUs, Inc. (TASK)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-01-20 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 41, "pageCount": 80, "prevPage": 40, "nextPage": 42, "slideType": "testimonial", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses a Q&A format to present negative sentiment from a former employee.", "elementsJson": [ "headline_text", "callout_box", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b99-2905b0287b60/41", "deckHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60", "deckJsonHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-2905b0287b60#slide-41", "components": [ { "bbox": { "h": 0.07, "w": 0.9, "x": 0.05, "y": 0.0028 }, "kind": "callout", "text": "Now that TASK is bigger, public and growing, do you see them having more challenges?", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a4299fcd-533f-4abf-806c-9581ef2c9799", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "Spruce Point interviewed a former Business Development professional at TASK who left to work for a competitor. The opinions are insightful and express the view that TASK faces multiple challenges ahead that will lead to rising costs and clients being competed away.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-14dd-72ca-b984-8d8732428fc9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.0018 }, "kind": "paragraph", "text": "Spruce Point interviewed a former Business Development professional at TASK who left to work for a competitor. The opinions are insightful and express the view that TASK faces multiple challenges ahead that will lead to rising costs and clients being competed away.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "98554167-aa31-4ebb-b52f-4162e4b2c4e9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.5, "w": 0.9, "x": 0.05, "y": 0.0039 }, "kind": "quote", "text": "I knew TaskUs was getting ready to go public... I'm seeing from my perspective there's some nice fat clients at TaskUs that are hitting those limitations and we're going to be making a switch.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2072dfc2-f4ae-4fc1-83b5-e8a8006122e8", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "I knew TaskUs was getting ready to go public, but I'd had some, disillusionment and frustration there and thought, you know, certain aspects of even going public, aren't gonna change this. Of course, yes, it's been breaking down. So they went from a people first statement to frontline first statement (chuckle). They've had a real difficult time with their sales team. Lots of turnover. I think the longest tenure now they have is like somebody who's been there three years, so they've gone through many teams. Because, I think Jaspar did a lot of sales and didn't really like sales people and sort of thought, (Hey, we've done a little hard work to bringing you on so all you're gonna do is be an order taker. So we're not gonna really esteem you here and you gotta get up at 3:00 AM to take a call and even though you live in America and even though every other BPO has their support teams work in American hours because most of India or the Philippines works, you know, during the night during American hours). So you had a lot of people get turned off by that in sales. They had a sub-standard compensation plan and you had a guy over the whole team who was never in a sales position. So, didn't really identify with, what would work or not. I'm sure he is good in other areas, but when it comes to some of those, there's a higher turnover. Not having someone to get the sales and biz development rocking and rolling is an issue. Some that got lucky in the right target market are making money, and some people doing so hot. And then, you know, training, onboarding for different roles has been tough. And it's just like any organization, you need to spread really fast just because you have capital and you can buy systems and you can recruit people. You know, there's still all those internal connections of getting things running smoothly. So I saw a lot of deals lost because we didn't have office space and then COVID hit and they got better at remote and some remote security. So that took away some of those concerns. But then, new sites, opening going really rough, having new clients in there, and having them some not great experiences and then moving on to more mature BPOs. I'm seeing from my perspective there's some nice fat clients at TaskUs that are hitting those limitations and we're going to be making a switch. I think that could be happening. I didn't invest in the stock because I think the price to value is out of whack. I think it's a bit overvalued. — Former Business Development Employee", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-14dd-72ca-b984-922c1ea18e83", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.68, "x": 0.28, "y": 0.05 }, "kind": "title", "text": "Former TASK Business Development Professional Interviewed By Spruce Point", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "40fbf81b-597c-4c75-bb16-bf7c11c83d11", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 80, "from": 6, "beatId": "aaba061d-8594-4dac-999c-686f29277072", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "The majority of the presentation is dedicated to exposing contradictions and concerns about TASK's financials, management, and market position.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }