{
  "docId": "019dd923-622c-750b-8b99-4b92274d3e76",
  "docSlug": "0a0319cd79cc",
  "documentTitle": "FIGS, Inc. (FIGS)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-09-07 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 12,
  "pageCount": 113,
  "prevPage": 11,
  "nextPage": 13,
  "slideType": "competitive_analysis",
  "function": "compare_peers",
  "density": "sparse",
  "nDataPoints": 6,
  "notes": "The slide uses a 'red flag' icon to signal a warning about the company's competitive moat.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "screenshot",
    "icon_grid"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/12",
  "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-12",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.86,
        "x": 0.108,
        "y": 0.175
      },
      "kind": "callout",
      "text": "Spruce Point is hard-pressed to find much differentiation in the scrubs products being offered by FIGS and its competitors. Below is a sample of just a few select competitors. In fact, almost everyone is offering 10-20% off first orders.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e95cdc06-d9c9-45d6-9539-86aaf7f9c535",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.9,
        "x": 0.05,
        "y": 0.28
      },
      "kind": "image",
      "text": "Grid of 6 competitors showing product photos and discount pop-ups",
      "attrs": null,
      "subkind": "icon-grid",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "94bcfda7-c9d3-49e4-9d44-d2914288f763",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.65,
        "x": 0.308,
        "y": 0.035
      },
      "kind": "title",
      "text": "A Picture Worth A Thousand Words: Where Is The Competitive Advantage?",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0701bd0a-68a5-4cc1-9c1e-88a297ae6915",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "ba926002-9399-4af6-bb5e-dd254a895436",
      "evidence": "Direct visual comparison of competitor offerings to undermine the target's unique value proposition.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 20,
      "from": 6,
      "beatId": "86f72659-c9b2-4b6d-8778-16516b4f763e",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "Detailed critique of FIGS' business practices and financials",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}