{ "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": 196, "pageCount": 334, "prevPage": 195, "nextPage": 197, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 1, "notes": "The slide uses a narrative approach to establish credibility and expose technical failures in the subject company's product.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/196", "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-196", "components": [ { "bbox": null, "kind": "callout", "text": "The Ushio light source is DPP. Discharge produced plasma. Think of the old days with a spark plug in a car with a gap where you apply voltage and you have a spark. Now imagine tin in the middle of the spark and using electrical energy to light the tin and get plasma. It's not a well controlled process. That's why people can't harness energy from lightning - it's uncontrolled. It was painful but we would get some light. If you choose a bad technology you just can't get there. DPP has inherent issues.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b7-702e-9616-2725f3fa55f6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.86, "x": 0.07, "y": 0.53 }, "kind": "paragraph", "text": "Intel is highly critical of Lasertec’s Ushio light source: “not a well controlled process”; “uncontrolled”; “painful”; “bad technology” with “inherent issues”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "04c05493-e67a-4057-9402-a2f89f502a21", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "We tried speaking with numerous Intel employees in its EUV mask inspection effort. One of Intel’s most senior and tenured individuals, with a leadership role in EUV and the Intel/Lasertec relationship, agreed to a phone consultation but only at 300% of the usual expert rate – and then played games and revealed little. Intel’s mask team clearly realized someone is investigating Lasertec and agreed to calls only to try and deduce our identity – another senior individual, from its mask shop and who we think spoke to the first executive, agreed to a call and then demanded an absurd $5,000 expert fee immediately prior to the scheduled time (we declined). Nonetheless, the senior executive with whom we spoke did make a few damning admissions, saying that Lasertec’s light source is “not a well-controlled process...it was painful but we would get some light...if you choose a bad technology you just can’t just get there...DPP has inherent issues.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2fc82c44-4569-49dc-808e-3438b2417ac9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.61 }, "kind": "quote", "text": "“The Ushio light source is DPP. Discharge produced plasma. Think of the old days with a spark plug in a car with a gap where you apply voltage and you have a spark. Now imagine tin in the middle of the spark and using electrical energy to light the tin and get plasma. It’s not a well controlled process. That’s why people can’t harness energy from lightning - it’s uncontrolled. It was painful but we would get some light. If you choose a bad technology you just can’t get there. DPP has inherent issues.” – One of Intel’s most senior and longtime engineers with leadership responsibility for EUV", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5836e2f4-ca8d-4551-8c4f-31862a53d84c", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“The Ushio light source is DPP. Discharge produced plasma. Think of the old days with a spark plug in a car with a gap where you apply voltage and you have a spark. Now imagine tin in the middle of the spark and using electrical energy to light the tin and get plasma. It's not a well controlled process. That's why people can't harness energy from lightning - it's uncontrolled. It was painful but we would get some light. If you choose a bad technology you just can't get there. DPP has inherent issues.” — One of Intel's most senior and longtime engineers with leadership responsibility for EUV", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-78b7-702e-9616-29a3884e31cb", "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": "60930a59-d174-44a5-af5f-ffe083c7e5e4", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }