{ "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": 89, "pageCount": 183, "prevPage": 88, "nextPage": 90, "slideType": "villain_critique", "function": "name_villain", "density": "overcrowded", "nDataPoints": 0, "notes": "The slide uses direct quotes to undermine the company's technological claims.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-1cc056790523/89", "deckHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-1cc056790523#slide-89", "components": [ { "bbox": { "h": 0.03, "w": 0.3, "x": 0.05, "y": 0.65 }, "kind": "callout", "text": "IonQ’s computer is just a “toy”", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "178975a3-85e5-4778-bc12-474616902e1a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.35 }, "kind": "callout", "text": "IonQ’s computer can’t do anything useful", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "29d0a518-cd80-45c7-a34b-284ae1573c2e", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "You’re not going to be able to run a calculation that’s worth anything.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-f5d2-7501-bd7f-c804811551fd", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "paragraph", "text": "The same feedback – that IonQ’s machine is a useless “toy” - was shared by every single ex-employee that we interviewed. An ex-IonQ physicist implied that any hype to the contrary was dishonest; that it can’t “run a calculation that’s worth anything” or “do anything useful,” even if it had far more qubits than the current version. Another ex-member of the technical staff derided the hype: the computers are “mainly toys” – “the fact of the matter” – useful only for testing scripts in “toy examples.” He added that it’s still 10 years away before they’re not a toy – but cautioned that people were saying that 10 years ago as well.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4e564ef5-d14f-4297-bb31-392820ade71e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.68 }, "kind": "quote", "text": "There is definitely quantum hype right now... the small 10-qubit devices are mainly toys right now. That's the fact of the matter... Everything that's available right now is only useful for researchers who want to test that the scripts that they are writing can run in the toy examples. When I tell people, I always say about 10 years when it's not a toy. But they were saying 10 years 10 years ago. – Ex-IonQ employee, member of technical staff", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "01da5dca-b441-4673-a5fc-ea4b293f93dc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.38 }, "kind": "quote", "text": "Investors want to hear one thing... You're not going to be able to run a calculation that's worth anything. I think something that's not talked about with honesty is how big of a challenge that is and how much room needs to be covered to get to a point where even if we have dozens of qubits, they're not actually able to do anything useful. – Former IonQ employee, physicist", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "da26b2df-6c40-4246-9d44-1cf3be52c41f", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"Investors want to hear one thing... You’re not going to be able to run a calculation that’s worth anything. I think something that’s not talked about with honesty is how big of a challenge that is and how much room needs to be covered to get to a point where even if we have dozens of qubits, they’re not actually able to do anything useful.\" — Former IonQ employee, physicist; \"There is definitely quantum hype right now, definitely, without a doubt... the small 10-qubit devices are mainly toys right now. That’s the fact of the matter... Everything that’s available right now is only useful for researchers who want to test that the scripts that they are writing can run in the toy examples.\" — Ex-IonQ employee, member of technical staff", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-f5d2-7501-bd7f-cc5115da1a29", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.05, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bf4655f6-71c3-4e80-b647-277fd52b5506", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }