{ "docId": "019dd923-622c-750b-8b9a-32b620517ee9", "docSlug": "2ec39f20dd86", "documentTitle": "QuantumScape (QS)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-04-15 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 185, "pageCount": 188, "prevPage": 184, "nextPage": 186, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": null, "elementsJson": [ "headline_text", "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-32b620517ee9/185", "deckHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9#slide-185", "components": [ { "bbox": null, "kind": "callout", "text": "To believe Quantumscape’s timeline and financial projections, one has to assume that this “Nobel Prize-winning work” has already been done and that giant solid-state factories are around the corner.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-f5d1-75b6-b066-aff63887fdad", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.92, "x": 0.04, "y": 0.23 }, "kind": "paragraph", "text": "To believe Quantumscape’s timeline and financial projections, one has to assume that this “Nobel Prize-winning work” has already been done and that giant solid-state factories are around the corner.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d072a65b-0bfd-46b3-9cdc-867e8a764ecf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.92, "x": 0.04, "y": 0.34 }, "kind": "quote", "text": "“If you talk about commercializing Quantumscape's cell, I feel like it's a good decade away, if not more. I mean, you can build all of your concept cars and take them to the test track, but for a conventional passenger car to come out with your batteries, I think it's going to be quite some time before people see that mainly because of two things. Handling lithium metal requires a whole new infrastructure, in general. You can build all of these coin cells, scale it up to single-layer pouch cells, that's possible. But getting to multi-layer from single-layer and then the production part of things, that's actually going to be a huge step.” – Former employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c6be6b32-1985-42bb-87dc-5ca14d6cd215", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“If you talk about commercializing Quantumscape's cell, I feel like it's a good decade away, if not more. I mean, you can build all of your concept cars and take them to the test track, but for a conventional passenger car to come out with your batteries, I think it's going to be quite some time before people see that mainly because of two things. Handling lithium metal requires a whole new infrastructure, in general. You can build all of these coin cells, scale it up to single-layer pouch cells, that's possible. But getting to multi-layer from single-layer and then the production part of things, that's actually going to be a huge step.” — Former employee", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-f5d1-75b6-b066-b2d95f574a62", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.04, "y": 0.68 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e0093fd3-505d-4eaf-9a3b-a2bebaed4c85", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.92, "x": 0.04, "y": 0.07 }, "kind": "title", "text": "Ex-employees assess any shot at commercialization as over a decade away – sometime in the 2030’s – and underscored the difficulty “to make solid-state batteries real”: “a super-difficult problem, like, basically, Nobel Prize-winning work needs to be done,” per an ex-employee quoted earlier.", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "26a51694-959c-43e3-888a-12e7c81837a9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.45, "x": 0.04, "y": 0.04 }, "kind": "title", "text": "11) A fake timeline and fake projections to grease the pump", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e04d250d-6f3d-41e2-a2e6-b0a7bb4ad16f", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [ { "to": 188, "from": 150, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "30a3a7d5-9626-4db4-85ed-defeed0ba9d5", "evidence": "The document implies that investors may face significant losses if they do not take action.", "position": 1, "objective": "The cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }