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  "documentTitle": "PowerSchool Holdings, Inc. (PWSC)",
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  "authorName": "Spruce Point Capital Management",
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  "notes": "The slide uses an OECD dataset to argue that international markets are less lucrative for PowerSchool due to lower per-student spending.",
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      "text": "The average OECD country is spending 27% less per student than the U.S. does on public education institutions. Countries like Brazil and Colombia, two of the largest markets in Latin America, are spending less than a third of what the U.S. does on a per student basis.",
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      "text": "Figure C1.1. Total expenditure on educational institutions per full-time equivalent student, by source of funds (2017)",
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      "text": "Source: Education expenditure data, OECD data",
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      "text": "PowerSchool's Target International Markets Spend A Fraction Of The U.S.",
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