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  "documentTitle": "FIGS, Inc. (FIGS)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-09-07 00:00:00",
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  "notes": "Uses red 'X' and '?' icons to visually signal skepticism.",
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      "text": "Based on our review of FIGS stated competitive and product advantages, we believe that practically none of them are sustainable and most are easily replicated.",
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      "text": "Based on our review of FIGS stated competitive and product advantages, we believe that practically none of them are sustainable and most are easily replicated.",
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      "text": "We note that brand equity is always at risk, and we believe FIGS has already managed to degrade its brand equity in its short history with mistakes such as a recent ad campaign.",
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      "text": "\"Popular scrubs company FIGS generates backlash from women in medicine and DOs after insensitive video\" — CNN, Oct 15, 2020",
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      "text": "1) \"Popular scrubs company FIGS generates backlash from women in medicine and DOs after insensitive video\", CNN, Oct 15, 2020",
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      "text": "FIGS Strategic Advantages vs FIGS Product Differentiators",
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      "text": "FIGS' Stated Advantages And Product Differentiators Do Not Seem Sustainable",
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