{ "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": 29, "pageCount": 183, "prevPage": 28, "nextPage": 30, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 1, "notes": "Uses anecdotal evidence from former executives and peers to build a narrative of internal discord.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-1cc056790523/29", "deckHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523#slide-29", "components": [ { "bbox": null, "kind": "callout", "text": "Monroe – the real heavy – appears to want his cake and eat it too: trying to preserve his scientific reputation by allegedly privately blaming the CEO and “financial types,” while publicly playing along as the scientific promoter-in-chief.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-f5d2-7501-bd7b-5907c55f585c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "paragraph", "text": "Our research suggests that IonQ’s scientific co-founders - the ones “who don’t want to be challenged in any way” and appear to be sitting on >$100MM of stock - are engaging in conduct as egregious as the CEO’s, just more shrewdly.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "28af0e18-d195-4775-82ab-a68d7e1d952c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.9, "x": 0.05, "y": 0.23 }, "kind": "paragraph", "text": "We spoke with a number of Monroe and Kim’s longtime friends and fellow academics, some they have co-authored papers with. Monroe – the real heavy – appears to want his cake and eat it too: trying to preserve his scientific reputation by allegedly privately blaming the CEO and “financial types,” while publicly playing along as the scientific promoter-in-chief. Peers related conversations where Monroe allegedly admitted the unsavoriness of the SPAC but chalked it up to the nature of the game. An ex-IonQ executive provided similar color – that Monroe seemed to be “embarrassed by the whole thing”; that he’s now stuck with a CEO “who’s completely lying”; and that “that’s why he’s staying away” and allegedly rarely shows up to the offices.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8525c2dd-c24b-44c6-b3a4-3403ecc62d89", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.6 }, "kind": "quote", "text": "Monroe is allegedly “embarrassed” by the IonQ SPAC and staying away from the offices\n“Chris Monroe kind of seemed to me to be embarrassed by the whole thing and kind of went in and out of seemingly paying attention and seemingly leading his team. I heard a lot from his team: “Chris is never around. Chris has no time.” So, Chris just wasn’t all there.” - Former executive of IonQ", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3fe1e19f-4df9-4de8-9160-cf65bd6cf641", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.78 }, "kind": "quote", "text": "Ex-executive opined that Monroe is keeping his distance\n“I think Chris is caught in a place where he’s handed over his company to someone who’s completely lying. I think he doesn’t know how to handle it, and I think that’s why he’s staying away. This is my impression. Jungsang thinks he’s the world’s best businessman.” - Former executive of IonQ", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a722f8ba-6683-4c29-9b78-1d037b8975d3", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“Chris Monroe kind of seemed to be embarrassed by the whole thing and kind of went in and out of seemingly paying attention and seemingly leading his team. I heard a lot from his team: ‘Chris is never around. Chris has no time.’ So, Chris just wasn’t all there.” — Former executive of IonQ; “I think Chris is caught in a place where he’s handed over his company to someone who’s completely lying. I think he doesn’t know how to handle it, and I think that’s why he’s staying away. This is my impression. Jungsang thinks he’s the world’s best businessman.” — Former executive of IonQ", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-f5d2-7501-bd7b-5dea3ea3dfdc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.05, "y": 0.96 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8c0fd429-6714-4aa0-bc0f-ebb62a4efccf", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "ceo-quote-contradiction", "slug": null, "matchId": "8932fb29-1f5f-4e4c-9cc1-f2a1370a52d9", "evidence": "Contrasts private admissions of embarrassment with public promotion of the company.", "confidence": 0.85 } ], "arcBeats": [ { "to": 40, "from": 21, "beatId": "339bb186-3f92-4c30-87ab-74a0f5359f8b", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle to Overcome Technical Challenges", "beatSlug": null, "evidence": "The deck describes the technical challenges faced by IonQ, including the difficulties of scaling its technology.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }