{ "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": 149, "pageCount": 175, "prevPage": 148, "nextPage": 150, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "Uses direct quotes to undermine the company's value proposition.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-1a3bea94baf9/149", "deckHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9#slide-149", "components": [ { "bbox": null, "kind": "callout", "text": "But how we are working with them now is as a kind of a glorified CRO.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-2b63-72e1-b600-083d62365a0b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.5 }, "kind": "paragraph", "text": "Current executive at related party \"customer\" Motif indicated similar strain engineering services are widely available from other vendors\n\"As far as the other people that one might go-to for this kind of work, you can think of that from different angles, but Zymergen is one of them. You can think about Amyris; you can almost think about Genomatica; they could do the same thing. There's also a privately-owned company locally. And then there are other smaller ones that have expression platforms on different bugs, e. Coli bacteria, yeast, fungi. So, there are different levels of players; there are other people out there.\" – Current Motif executive", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6a3d8c12-d724-40ac-8f96-726374d29ac2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.9, "x": 0.05, "y": 0.28 }, "kind": "paragraph", "text": "Senior employee at Joyn calls them \"a kind of a glorified CRO\"\n\"They can do strain engineering and DNA synthesis and sequencing at a very high level, high throughput quickly. You can run a lot of tests through their program very quickly. They can engineer a strain and test them with very high throughput. But how we are working with them now is as a kind of a glorified CRO.\" – Senior employee at Joyn", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fa453b66-8a53-49be-bd89-1f0bb668fba7", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“They can do strain engineering and DNA synthesis and sequencing at a very high level, high throughput quickly. You can run a lot of tests through their program very quickly. They can engineer a strain and test them with very high throughput. But how we are working with them now is as a kind of a glorified CRO.” — Senior employee at Joyn; “As far as the other people that one might go-to for this kind of work, you can think of that from different angles, but Zymergen is one of them. You can think about Amyris; you can almost think about Genomatica; they could do the same thing. There’s also a privately-owned company locally. And then there are other smaller ones that have expression platforms on different bugs, e. Coli bacteria, yeast, fungi. So, there are different levels of players; there are other people out there.” — Current Motif executive", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-2b63-72e1-b600-0e6da9fdb792", "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": "9b4155d7-9155-4bd8-9a49-7483afba486b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "A second employee at Joyn Bio referred to Ginkgo as \"a kind of a glorified CRO\" – a contract research organization. An executive at another key related-party, Motif Foodworks – also co-located with Ginkgo’s offices and foundry in Boston – indicated that similar strain engineering services are widely available from other vendors.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "76f0cd21-e0da-4a6a-9df1-e7078b382a3e", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "727f63cb-c050-4f0e-9845-f8584fa0a8f6", "evidence": "Uses expert testimony to contradict company narrative of unique value.", "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 }