{
  "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": 47,
  "pageCount": 113,
  "prevPage": 46,
  "nextPage": 48,
  "slideType": "villain_critique",
  "function": "diagnose_problem",
  "density": "sparse",
  "nDataPoints": 0,
  "notes": "Uses a red flag icon to visually emphasize the cultural risk and high employee turnover.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-4b92274d3e76/47",
  "deckHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4b92274d3e76#slide-47",
  "components": [
    {
      "bbox": {
        "h": 0.1,
        "w": 0.875,
        "x": 0.107,
        "y": 0.173
      },
      "kind": "callout",
      "text": "We recognize that every company develops a distinct culture and that no one culture predetermines success or failure. However, how company culture manifests itself does impact long-term success. At FIGS, the culture depicted by reviews indicates high turnover, and we view the inability to retain employees as a red flag.",
      "attrs": {
        "color": "yellow-background",
        "border": "red"
      },
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4536279f-4656-4407-8f54-e82260575b52",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.018,
        "w": 0.148,
        "x": 0.017,
        "y": 0.967
      },
      "kind": "source-note",
      "text": "Source: Glassdoor, Tegus",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f45cb114-793e-4c43-841b-35a8de334c7e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.668,
        "w": 0.965,
        "x": 0.017,
        "y": 0.282
      },
      "kind": "table",
      "text": "Commentary on Excessive Employee Turnover table containing Glassdoor and Tegus reviews from 2019 to 2022.",
      "attrs": {
        "columns": [
          "Date / Source",
          "Quote"
        ]
      },
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "eb48fcd9-1a42-44d6-8458-dc65a22a5dcb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.044,
        "w": 0.628,
        "x": 0.309,
        "y": 0.058
      },
      "kind": "title",
      "text": "Employee Commentary Indicates High Turnover",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9f390b17-80fa-4134-bc0b-7d0123f28b6e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [
    {
      "to": 54,
      "from": 44,
      "name": "Iceberg",
      "slug": "10-iceberg",
      "bestFor": "Consulting, complex problem solving, organizational change",
      "matchId": "2397581e-e50d-483b-b601-6eba0af6ccae",
      "evidence": "Employee commentary and Glassdoor reviews",
      "position": 1,
      "objective": "To expose an unhealthy company culture and high turnover",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
      "confidence": 0.7,
      "description": "Reveal that the visible problem is merely a symptom of a deeper root cause"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}