{
  "docId": "019dd923-622c-750b-8b9a-1cc056790523",
  "docSlug": "340e94a59fc0",
  "documentTitle": "IonQ Inc. (IONQ)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-05-03 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 19,
  "pageCount": 183,
  "prevPage": 18,
  "nextPage": 20,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "The slide uses a side-by-side comparison of a visual roadmap and a text excerpt to prove the contradiction.",
  "elementsJson": [
    "paragraph",
    "screenshot",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-1cc056790523/19",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523#slide-19",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "For the avoidance of doubt, the IonQ roadmap is not incorporated into, and does not form part of, this registration statement.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-f5d2-7501-bd79-e457d6d86101",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.4,
        "x": 0.05,
        "y": 0.45
      },
      "kind": "image",
      "text": "Roadmap slide from SPAC deck",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aa26cfbc-c840-4148-8ce1-82aff44b12a1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "paragraph",
      "text": "We further noticed that slide after slide makes over-the-top claims, only to have tiny footnotes at the bottom that flatly contradict them. For example, the company boasts that its “Technical Roadmap Paves the Way for Its Leadership in Quantum Computing.” Comically, the adjoining paragraph strongly disavows the roadmap, saying that “for the avoidance of doubt” it is “not incorporated into, and does not form part of, this registration statement.” We think the reason is clear: the roadmap makes phony claims about the number of qubits, and IonQ is attempting a dubious legal out.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2e9ad1e0-750d-40cf-88a9-d13ba2bd895f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.5,
        "y": 0.7
      },
      "kind": "paragraph",
      "text": "IonQ’s Forward-Looking Roadmap. In December 2020, IonQ publicly released a forward-looking technical roadmap for the next eight years. For the avoidance of doubt, the IonQ roadmap is not incorporated into, and does not form part of, this registration statement.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4dfb5b00-bba6-4b2c-965e-d51325816152",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.5,
        "y": 0.45
      },
      "kind": "paragraph",
      "text": "Prospectus promotes the roadmap while at the same time disavowing it - excerpts",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b38494bb-43d5-4c3a-a2a2-8261d55025e4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.5,
        "y": 0.52
      },
      "kind": "paragraph",
      "text": "IonQ’s Technical Roadmap Paves the Way for Its Leadership in Quantum Computing. IonQ’s technical roadmap was designed to provide transparent guidance to its quantum computer users regarding when IonQ expects certain quantum computing capabilities to become available. The #AQ metric provides a simple and effective measure to estimate the computational power of each generation of quantum computers.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cc95d801-8289-4faf-b87f-01838a82814c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "For the avoidance of doubt, the IonQ roadmap is not incorporated into, and does not form part of, this registration statement. — IonQ Prospectus",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-f5d2-7501-bd79-e831e788d731",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.9,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: IonQ investor presentation... prospectus https://www.sec.gov/Archives/edgar/data/1824920/000119312521098621/d70340ds4.htm",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "398c52ad-5a2b-4a7d-8c7b-efcdc9d8c2d9",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "CEO quote contradiction",
      "slug": "ceo-quote-contradiction",
      "agent": null,
      "layer": "slide",
      "matchId": "d4836716-fbd7-4d12-afdf-928d46d2675b",
      "evidence": "For the avoidance of doubt, the IonQ roadmap is not incorporated into, and does not form part of, this registration statement.",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "cb8fe7a5-fd7c-48bc-800c-2a0c316bd2ec",
      "evidence": "Contrasts marketing claims with legal disclaimers",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 20,
      "from": 11,
      "beatId": "9387f8be-f19a-4f6a-b549-3a235273968a",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Problem with IonQ's Technology",
      "beatSlug": null,
      "evidence": "The deck introduces the problem with IonQ's technology, including its error rates and lack of commercial viability.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}