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  "documentTitle": "FIGS, Inc. (FIGS)",
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      "kind": "callout",
      "text": "Speaking with former FIGS employees, we are extremely troubled by the history of neglect and disrespect for the finance function. While CEO Spear has often been positioned as the “finance expert” in the media given her background on Wall Street, there are clear signs that she is aggressive with numbers.",
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      "text": "Like really basic stuff. I remember an example where Trina was quoting our CAC as something and it was just totally wrong. It was like, all right, this is what our CAC is. And she’s like, oh, okay. I’ve been telling people this. I would say, like for numbers, the general respect for the truth was low. It was very like, ‘whatever, I have been telling people this other number for a long time’ kind of attitude about it. And you’re just like, ‘CAC is pretty basic’. And the fact that she was doing that wrong was a little bit of a orange flag. I was like, how do you not know what this is?",
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      "kind": "quote",
      "text": "[regarding new CFO Daniella Turenshine] “Trina and Heather don’t feel, I dunno, threatened or whatever by her. She will kinda follow orders.”",
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      "text": "[some executives might be worried about an analyst calling them out on their numbers] “, but I would say that Trina's mindset is more like, ‘I’ll do whatever the hell I want. I’m Teflon.’ I kind of describe her as like, she kind of has a Donald Trumpian mindset a little bit. Like she kind of gets away with stuff and she has the confidence to do so. And a lot of founders have that, but that’s just something to think about. I would say that if there is a number where there’s an opportunity to kind of be aggressive with something, they probably will be.”",
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      "text": "what they tend to do is they hire these really junior people. And then they sort of groom them so that they’re a little bit more malleable.",
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      "text": "I would say transparency wise, it was always a little bizarre. Trina and Heather were really cagey about sharing any numbers internally. They’d say ‘don’t tell anyone the revenue number, that’s only for us’. Like just like weird stuff like that...It was a weird dynamic with disclosing information internally to the organization",
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      "text": "Source: Spruce Point research",
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      "text": "Former Employees Observed An Unhealthy Relationship Between Finance Management And FIGS’ Founders",
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