{
  "docId": "019dd923-622c-750b-8b99-91010c0bd592",
  "docSlug": "937587dba6b9",
  "documentTitle": "Intuit Inc. (INTU)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-09-20 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 9,
  "pageCount": 125,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "key_messages",
  "function": "diagnose_problem",
  "density": "balanced",
  "nDataPoints": 4,
  "notes": "This is a text-heavy slide typical of activist investor presentations, focusing on reputational and operational risks.",
  "elementsJson": [
    "headline_text",
    "bullet_list"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-91010c0bd592/9",
  "deckHref": "/decks/019dd923-622c-750b-8b99-91010c0bd592",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-91010c0bd592.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-91010c0bd592#slide-9",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We believe Intuit’s other core franchise, TurboTax, exemplifies the Company’s moral decay and arguably should not exist, as tax preparation software isn’t even required in most developed countries.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-1ac4-74a6-be34-4bb9e4c53a5a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.42,
        "w": 0.92,
        "x": 0.05,
        "y": 0.52
      },
      "kind": "list",
      "text": "TurboTax risks: anti-consumer history, regulatory fines (Green Dot), lobbying against tax simplification, threat from government Direct File program, opaque disclosures, and questionable market share reporting.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "312955d7-757b-4970-a124-f088cea95109",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.92,
        "x": 0.05,
        "y": 0.16
      },
      "kind": "list",
      "text": "Credit Karma headwinds: declining mindshare, revenue, and member growth; increasing CAC. FTC settlement and user dissatisfaction. Mint business consolidation and shutdown. Risky banking partner (MVB Financial).",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bb10be6f-3d49-4b6a-94a3-a35dc74aac1f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.68,
        "x": 0.28,
        "y": 0.05
      },
      "kind": "title",
      "text": "We Believe Intuit's Actions Around TurboTax Have Been An Embarrassment And Existential Threats Are Real",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e59b824e-bece-4c42-9902-6d282e78abc9",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}