{
  "docId": "019dd923-622c-750b-8b9a-2a2468219173",
  "docSlug": "ce565b841c40",
  "documentTitle": "Nevro Corp. (NVRO)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Kir Kahlon",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-01-07 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 11,
  "pageCount": 239,
  "prevPage": 10,
  "nextPage": 12,
  "slideType": "villain_critique",
  "function": "name_villain",
  "density": "overcrowded",
  "nDataPoints": 9,
  "notes": "The slide uses a combination of narrative text, a testimonial quote, and a bar chart to link high-volume implanters to high payments.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "quote_block",
    "bar_chart_horizontal",
    "photo",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-2a2468219173/11",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173#slide-11",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "The same cast of characters that keeps popping up as lead investigators for Nevro’s studies, and as some of its highest volume implanters, also has a knack for topping its OpenPayments leaderboard, which appears to consist mostly of…speaking payments.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-3f3d-76db-b337-d97856fae642",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.32,
        "x": 0.06,
        "y": 0.69
      },
      "kind": "chart",
      "text": "Top Entities Receiving General Payments in All Years",
      "attrs": null,
      "subkind": "bar-horizontal",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7d37c409-535b-4837-8f67-d37ac8669663",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.23,
        "w": 0.55,
        "x": 0.39,
        "y": 0.7
      },
      "kind": "image",
      "text": "Photos of KOLs",
      "attrs": null,
      "subkind": "photo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2c991ac5-3d67-4552-9860-b0928af8631e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "General Payments: $800K",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-3f3d-76db-b337-e2800a2b4ec2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.88,
        "x": 0.06,
        "y": 0.1
      },
      "kind": "paragraph",
      "text": "1. Introduction to Nevro\nNevro would have one believe that no stimulator manufacturer in the last 60 years ever bothered to crank up the frequency to see what happens...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b122777b-e351-4f45-aa96-5304faf9f0cc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.88,
        "x": 0.06,
        "y": 0.48
      },
      "kind": "quote",
      "text": "When Nevro first started, if you look at the doctors in the forefront... I wouldn't say they were outcasts, but... it was like a Scientology thing. They did these retreats at some huge mansion, like crazy stuff...Nevro is not science.",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b57a4b78-029b-4a87-8913-96a3252aea43",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“When Nevro first started, if you look at the doctors in the forefront, true thought leaders, key opinion leaders, the white shoe reputable people - that’s not who they got. They brought in a bunch of guys - I wouldn’t say they were outcasts, but... it was like a Scientology thing. They did these retreats at some huge mansion, like crazy stuff...Nevro is not science. It’s a cult and I am blown away because every doctor I know that does a lot of implant volume doesn’t use Nevro except for a small cult.” — KOL, former high volume Nevro implanter",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-3f3d-76db-b337-dce9c9700701",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.75,
        "x": 0.06,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "Source: expert consultation calls; CMS OpenPayments...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "78c76958-82fa-4c5e-93e0-4572787f9860",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.06,
        "y": 0.04
      },
      "kind": "title",
      "text": "Scorpion Capital | Nevro (NYSE: NVRO)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9743dc84-2d08-4995-b492-559aca242fa1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.5,
        "x": 0.06,
        "y": 0.65
      },
      "kind": "title",
      "text": "Top recipients of Nevro payments per CMS OpenPayments data",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e39161cb-83c6-4f72-a239-c1a0beca1802",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "antagonist-introduction",
      "slug": null,
      "matchId": "23cd50c4-bf59-4728-8703-3386e077dae0",
      "evidence": "The slide explicitly frames Nevro's KOL network as a 'cult' and 'corrupt trial factory'.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 20,
      "from": 9,
      "beatId": "531dd341-6a18-4138-9808-503ee7f0f77f",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "The deck presents a series of criticisms and contradictions against Nevro",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [
    {
      "to": 20,
      "from": 10,
      "name": "The Reveal",
      "slug": "05-the-reveal",
      "bestFor": "Product launches, strategic pivots, unexpected findings",
      "matchId": "c6d7ccb1-a71b-4960-8866-cbf6a13f3065",
      "evidence": "The deck presents a series of contradictions and criticisms against Nevro",
      "position": 0,
      "objective": "Reveal Nevro's flaws",
      "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
      "confidence": 0.8,
      "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}