{
  "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": 37,
  "pageCount": 175,
  "prevPage": 36,
  "nextPage": 38,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "Uses yellow highlighting to draw attention to specific clauses in the prospectus text.",
  "elementsJson": [
    "paragraph",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-1a3bea94baf9/37",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1a3bea94baf9#slide-37",
  "components": [
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.05,
        "y": 0.38
      },
      "kind": "callout",
      "text": "Excerpts from Prospectus, Sept 17, 2021",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "670fd4db-8d25-4a0f-aa6b-c57273f527d4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.86,
        "x": 0.07,
        "y": 0.78
      },
      "kind": "paragraph",
      "text": "Structured Partnerships allow Ginkgo to partner with existing entities with complementary assets for high potential synthetic biology applications",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "499596f2-fd69-4fd4-9585-5e14c3d4f2de",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "paragraph",
      "text": "Given that “Customer programs” are at the heart of the model, one would assume that Ginkgo is providing R&D services to third parties with whom it has typical vendor/customer relationships. In reality, the programs are related parties that Ginkgo calls either “Platform Ventures” – de novo entities it creates and funds which then become its customers – or “Structured Partnerships,” which are pre-existing entities that Ginkgo and/or its investors and other related parties invest in.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4fee2cce-463b-4290-afec-a7a75b1a5d3b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.86,
        "x": 0.07,
        "y": 0.48
      },
      "kind": "paragraph",
      "text": "Platform Ventures allow leading multinationals to partner with Ginkgo and financial investors to form new ventures in identified market segments with potential to benefit from synthetic biology. In exchange for an equity position in the venture, we contribute license rights to our proprietary cell programming technology and intellectual property, while our partners contribute relevant industry expertise, other resources and venture funding. We also provide R&D services for which we receive cash payments for our costs incurred, plus a margin.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a9631fb7-d180-4a5a-8b23-c908748a8a88",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.05,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: Soaring Eagle Acquisition Corp prospectus 8/13/2021, https://www.sec.gov/Archives/edgar/data/0001830214/000119312521246097/d177007d424b3.htm; yellow highlights are ours for emphasis.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0ee7d5e1-df31-4592-a646-06df468b35dd",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "41eafbad-10ce-4a14-adb6-9cf8c0cb96ba",
      "evidence": "Contrasts public assumption of 'vendor/customer' with 'related party' reality.",
      "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
}