{
  "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": 15,
  "pageCount": 175,
  "prevPage": 14,
  "nextPage": 16,
  "slideType": "preempt_rebuttal",
  "function": "preempt_rebuttal",
  "density": "dense",
  "nDataPoints": 1,
  "notes": "Uses specific examples of financial fraud and regulatory trouble to counter the 'halo effect' of Tiger Cub investment.",
  "elementsJson": [
    "paragraph",
    "candlestick",
    "screenshot"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-1a3bea94baf9/15",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9#slide-15",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "for those who think that having a ~$35B AUM Tiger cub as the largest holder is automatic indicia of legitimacy, judgment, or perfunctory due diligence, we caution that one of the largest holders in Luckin Coffee, a Chinese fraud that imploded, was Lone Pine",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-2b62-723f-b686-d15141fa2a43",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.45,
        "x": 0.05,
        "y": 0.42
      },
      "kind": "chart",
      "text": "Luckin Coffee stock chart",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "96fa5d4c-541a-4e17-91df-997f370bbead",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.45,
        "x": 0.52,
        "y": 0.45
      },
      "kind": "list",
      "text": "\"Tiger Cub\" manager pleads guilty in insider trading case\nSEC Opens Probe Into Archegos Trades That Triggered Rout\nBill Hwang Invested Millions in Other Tiger Cubs, Including",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "64232050-cbdf-4df9-a6cc-0895983beeaf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "paragraph",
      "text": "We admire a number of funds that spun out of Tiger, but for those who think that having a ~$35B AUM Tiger cub as the largest holder is automatic indicia of legitimacy, judgment, or perfunctory due diligence, we caution that one of the largest holders in Luckin Coffee, a Chinese fraud that imploded, was Lone Pine – a prominent ~$30B Tiger cub, a fund we otherwise respect. We further note the case of Bill Hwang, who ran Tiger Asia and Archegos, and whose history with regulators and recent troubles are well-documented.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "88f4e695-47d2-4a9c-988e-d8e52ea00c0d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"Tiger Cub\" manager pleads guilty in insider trading case — Media Headline",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-2b62-723f-b686-d50c05e4c740",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: https://www.reuters.com/article/us-crime-insidertrading-tiger-idUSBRE8BB1RG20121212; https://www.bloomberg.com/news/articles/2021-03-31/sec-opens-investigation-into-archegos-trades-that-sparked-rout; https://www.institutionalinvestor.com/article/b1rd5gmr3ntdyq/Bill-Hwang-Invested-Millions-in-Other-Tiger-Cubs-Including-Chase-Coleman-s-Tiger-Global-and-Steve-Mandel-s-Lone-Pine; Viking and Lone Pine assets under management of ~$35B and ~$30B, as indicated above, respectively, are estimates based upon 13F filings and may be incorrect.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e6400b09-e7a9-4698-9e07-1d31aafcef23",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "halo-effect",
      "slug": null,
      "matchId": "977c764f-971e-4ed1-b807-16f409e60b93",
      "evidence": "Argues that investors incorrectly assume legitimacy based on the reputation of Tiger Cub funds.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 29,
      "from": 7,
      "beatId": "e2f93575-983e-42f9-ba25-92d6aaff36aa",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Villain Critique",
      "beatSlug": null,
      "evidence": "The deck critiques Ginkgo's founders and business practices.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "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
}