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  "documentTitle": "Ginkgo Bioworks (DNA)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2021-10-06 00:00:00",
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      "text": "Ginkgo is, we believe, a colossal fraud, a Frankenstein mash-up of the worst scams of the last 20 years: Enron’s abuse of related parties and special purpose entities; Intrexon, the father of synthetic biology scams, and its circular “revenue” charade; the vaporous grandiosity of WeWork and Theranos; and Ginkgo’s Siamese twin Zymergen, which fell 75% in a single day in August.",
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      "text": "Market Capitalization: $23,450",
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      "text": "Speculative fads on Wall Street often end in a climactic, defining moment of excess – a merger, IPO, bankruptcy, or fraud on a scale so massive that boundaries are pushed, speed limits get smashed, and the whole rig collapses of its own weight. We have no idea whether Ginkgo will be that signature moment for the SPAC era, but at $23B market cap – conjured from thin air by hedge funds pushing paper around related-parties – we think it’ll be a contender for the Hall of Shame, if not a 6am raid by the Feds and some perp walks. Ginkgo is, we believe, a colossal fraud, a Frankenstein mash-up of the worst scams of the last 20 years: Enron’s abuse of related parties and special purpose entities; Intrexon, the father of synthetic biology scams, and its circular “revenue” charade; the vaporous grandiosity of WeWork and Theranos; and Ginkgo’s Siamese twin Zymergen, which fell 75% in a single day in August.",
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      "text": "Source: BarChart.com, Capital IQ; Scorpion Capital analysis and estimates",
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      "text": "Share Price, as of 10/5: 11.98; Shares Outstanding: 1,957; Market Capitalization: 23,450; - Cash & Short Term Investments: 236; + Total Debt: 16; + Total Minority Interest: 7; = Total Enterprise Value: 23,237",
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