{ "docId": "019dd923-622c-750b-8b9a-1a3bea94baf9", "docSlug": "c358888161f0", "documentTitle": "Ginkgo Bioworks (DNA)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-10-06 00:00:00", "orientation": "landscape", "aspectRatio": 1.2941177, "pageNumber": 103, "pageCount": 175, "prevPage": 102, "nextPage": 104, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses expert testimony to frame a 'charade' of separation between two entities.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-1a3bea94baf9/103", "deckHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9#slide-103", "components": [ { "bbox": null, "kind": "callout", "text": "We noted our belief earlier that the agreement ensures Ginkgo’s control over Allonnia’s day to day operation, while allowing it to continue the charade that it’s separate.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-2b62-723f-b68d-d24d9f0e5fb6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "paragraph", "text": "We spoke to a current employee of Allonnia, who stated that it “resides within Ginkgo”; that “all the research is still done at Ginkgo”; and appeared to suggest that it was part of Ginkgo irrespective of its official status “on paper.” The same employee confirmed a G&A services agreement between Allonnia and Ginkgo, but was cagey about discussing it further. We noted our belief earlier that the agreement ensures Ginkgo’s control over Allonnia’s day to day operation, while allowing it to continue the charade that it’s separate.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e424eda1-5396-4f9d-a3e9-29f514a17c62", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.38 }, "kind": "quote", "text": "An Allonnia employee indicated that “Allonnia resides within Ginkgo”; “all the research is still done at Ginkgo”; appeared to suggest that it was part of Ginkgo irrespective of its official or “on paper” status “I’m actually working with Ginkgo because all the research is still done at Ginkgo; Allonnia resides within Ginkgo. Saying that officially or on paper, I guess...Allonnia is a small company. Right now, there are six full-time employees...I think two of them were hired—the CEO was hired in October of 2020. So, officially, it's less than a year-old company.” – Current Allonnia employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6081b25f-a779-4b9a-896c-445e90f17d43", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.65 }, "kind": "quote", "text": "The same employee confirmed a G&A services agreement between Ginkgo and Allonnia but was cagey about discussing it Q: “Does Ginkgo provide any other managerial services to Allonnia, like G&A services and things like that?” A: “In some cases, yes, but that is between Allonnia and Ginkgo. I think that may be confidential. I don't want to speak on that, but yes, they do provide G&A to some extent...My understanding is that in the beginning, they do help with the financial and the hiring and everything.” – Current Allonnia employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7896fb44-b7bf-44ba-8fda-cb01cc0f12d5", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“I’m actually working with Ginkgo because all the research is still done at Ginkgo; Allonnia resides within Ginkgo. Saying that officially or on paper, I guess...Allonnia is a small company. Right now, there are six full-time employees...I think two of them were hired—the CEO was hired in October of 2020. So, officially, it's less than a year-old company.” — Current Allonnia employee; “In some cases, yes, but that is between Allonnia and Ginkgo. I think that may be confidential. I don’t want to speak on that, but yes, they do provide G&A to some extent...My understanding is that in the beginning, they do help with the financial and the hiring and everything.” — Current Allonnia employee", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-2b62-723f-b68d-d419ac0779f9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.05, "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": "1035c63c-fe23-4529-92cd-f9cae6164685", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "96d949e2-da71-43c3-9b2b-6c497d64767b", "evidence": "The slide explicitly uses the word 'charade' to describe the relationship between the two companies.", "confidence": 0.9 } ], "arcBeats": [ { "to": 175, "from": 9, "beatId": "ffe290af-3a4f-4e06-8d60-dfbfc07d2e08", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "The deck presents evidence contradicting Ginkgo's claims and highlighting potential wrongdoings.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }