{
  "docId": "019dd923-622c-750b-8b9a-0f4bec37392f",
  "docSlug": "f982379e2e48",
  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-06-05 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 187,
  "pageCount": 334,
  "prevPage": 186,
  "nextPage": 188,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "The slide relies heavily on quotes from a former KLA executive to discredit Lasertec's technology.",
  "elementsJson": [
    "paragraph",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/187",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-187",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "The problem is the shit is too hard to fix and it takes too much time.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-78b6-764f-bc85-8731020ad94c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.86,
        "x": 0.07,
        "y": 0.07
      },
      "kind": "paragraph",
      "text": "While Lasertec’s purported “monopoly” position is dependent on inspecting EUV masks with a pellicle – a thin membrane to protect the mask from debris – the problems with its tool are “too hard to fix and it takes too much time.” Customers who bought hoping to inspect with pellicles “have been paying a huge price” and now simply take the risk of inspecting without a pellicle rather than deal with the tool: “it’s painful, it’s extremely painful”; “they basically print without a pellicle”; “all these failures...slows down all the flow in the fab”; “it would be stupid to buy many more” machines; “I would do everything I can to avoid it.”",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dfcb3e55-b4b4-4586-9d72-4e6acc4b489a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.86,
        "x": 0.07,
        "y": 0.65
      },
      "kind": "quote",
      "text": "“Stupid to buy” the Lasertec tool; “it’s extremely painful”; “slows down all the flow in the fab”... “it would be stupid to buy many more of those because I would do everything I can to avoid it.” -Former KLA executive",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5e896a2b-b47a-4685-9206-b5f0a1151bc5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.86,
        "x": 0.07,
        "y": 0.35
      },
      "kind": "quote",
      "text": "Lasertec’s EUV tool is only used because it purports to inspect masks with pellicles, but it can’t: “they lied”... “The problem is the shit is too hard to fix and it takes too much time.” -Former KLA executive",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dce04aff-a564-44e9-afd6-075da91d0d9e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“they lied” — Former KLA executive in a leadership role in their EUV mask inspection group; “it would be stupid to buy many more of those because I would do everything I can to avoid it.” — Former KLA executive in a leadership role in their EUV mask inspection group",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-78b6-764f-bc85-88c8e5d8a8d7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.07,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Scorpion Capital consultation calls with experts",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "036e440a-4402-4261-a59c-4eab1fc4fa73",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "expose_contradiction",
      "slug": null,
      "matchId": "95dc8b59-6758-4fb4-87ac-86ae88d66bac",
      "evidence": "The slide contrasts the company's market claims with expert testimony alleging technical failure.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}