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  "documentTitle": "QuantumScape (QS)",
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  "notes": "The slide uses highlighted quotes to emphasize the lack of transparency and the manipulative tactics used by Quantumscape leadership.",
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      "text": "Former employees of Quantumscape confirmed the color we received directly from VW, suggesting that VW was kept in the dark and that the QS CEO and Chief Sales Officer “just had it nailed” as far how to play the VW bureaucracy.",
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      "text": "Our research interviews indicate that VW didn’t “have as much transparency” as the company would like investors to believe.",
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      "text": "“I don't know if Volkswagen have as much transparency into what's going on in there. I don't think people questioned it, to be honest. They were very limited in getting access. It was a very controlled environment. I don't think they got the full picture. I'm pretty sure they didn't.” – Former employee",
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      "text": "“Jagdeep and Howard Lukens [Chief Sales Officer] essentially broke down the VW organization and figured out where all the decisions were made, and allocated a guy from Quantumscape to each of these key points. They just had it nailed. Everything was scripted down to practicing everything after the introduction.” – Ex-employee",
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      "text": "“I don't know if Volkswagen have as much transparency into what's going on in there. I don't think people questioned it, to be honest. They were very limited in getting access. It was a very controlled environment. I don't think they got the full picture. I'm pretty sure they didn't.” — Former employee; “Jagdeep and Howard Lukens [Chief Sales Officer] essentially broke down the VW organization and figured out where all the decisions were made, and allocated a guy from Quantumscape to each of these key points. They just had it nailed. Everything was scripted down to practicing everything after the introduction.” — Ex-employee",
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      "text": "Source: Scorpion Capital consultation calls with experts; note: Lukens appears to have departed his CSO role at QS in Mar 2021, per his LinkedIn profile which lists his tenure as “Mar 2012 – Mar 2021”, https://www.linkedin.com/in/howard-lukens-93968323/",
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      "text": "2) VW employees indicate internal skepticism of Quantumscape’s claims",
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