{ "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": 71, "pageCount": 188, "prevPage": 70, "nextPage": 72, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 0, "notes": "Includes two testimonial-style quotes from an expert and a former employee to support the 'cherry-picking' narrative.", "elementsJson": [ "headline_text", "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-32b620517ee9/71", "deckHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-32b620517ee9#slide-71", "components": [ { "bbox": null, "kind": "callout", "text": "Experts suggest QS is playing games by using an irrelevant coin-size cell, unlike a real EV battery with 200,000 layers spanning multiple football fields of area.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-f5d1-75b6-b05c-d9bc843e59ab", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.9, "x": 0.05, "y": 0.22 }, "kind": "paragraph", "text": "Experts and former R&D employees indicate that anyone can prevent dendrites simply by using a small, commercially-irrelevant surface area for the solid-state separator. The entire challenge lies in preventing dendrites at scale, given the thousands of separator layers in an EV battery pack. Quantumscape's data is already questionable for using small single layer cells sized at 30x30mm and 70x85mm. Experts believe that the cell used for the dendrites test is EVEN smaller, or QS would have stated its size - making a mockery of the CEO's claim of having found a material that's resistant to dendrites.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d07d7cd8-b316-4445-9404-b7c3702d97df", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.62 }, "kind": "quote", "text": "Former R&D employee indicates QS is cherry-picking and that smaller lab samples make it easier to show \"good\" dendrites data. \"30x30cm cells vs. 70x85mm have more rigidity and the ability to not produce dendrites just because they're small. The bigger one—my assumption is, there are clearly certain tests that they found more favorable on this smaller one and they decided to choose the better-looking data for the presentation. 30x30 has less surface area, less interaction, less chance of lithium plating—there are a lot of different things in the science. It's better performing for certain ceramic reasons. I would actually agree 100% [that they're cherry-picking different prototypes for different tests], and the reason why is scalability. There are some inherent benefits to having a smaller wafer.\" - Former R&D employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ba628a0b-221b-486d-8850-705d50232d08", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.45 }, "kind": "quote", "text": "Expert with extensive dendrites experience dismisses coin cells given \"square miles\" needed. \"Another thing to keep in mind with this sort of data is you've got a very small area that you're doing this over. This is the size of a coin cell probably and so, you've got to ask if making a square centimeter that has high rate lithium plating capabilities is fantastic, if you need square miles.\" - Solid-state expert", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bd212ea1-d961-4091-86bb-b1de1be9edea", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"Another thing to keep in mind with this sort of data is you've got a very small area that you're doing this over. This is the size of a coin cell probably and so, you've got to ask if making a square centimeter that has high rate lithium plating capabilities is fantastic, if you need square miles.\" — Solid-state expert; \"30x30cm cells vs. 70x85mm have more rigidity and the ability to not produce dendrites just because they're small. The bigger one—my assumption is, there are clearly certain tests that they found more favorable on this smaller one and they decided to choose the better-looking data for the presentation. 30x30 has less surface area, less interaction, less chance of lithium plating—there are a lot of different things in the science. It's better performing for certain ceramic reasons. I would actually agree 100% [that they're cherry-picking different prototypes for different tests], and the reason why is scalability. There are some inherent benefits to having a smaller wafer.\" — Former R&D employee", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-f5d1-75b6-b05c-dd5fb77bc9c0", "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": "79e9d9ae-1eea-4461-adf1-6398f6f3dae7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.9, "x": 0.05, "y": 0.07 }, "kind": "title", "text": "Red flag 4 (cont'd): Dendrite risk grows with surface area. Experts suggest QS is playing games by using an irrelevant coin-size cell, unlike a real EV battery with 200,000 layers spanning multiple football fields of area.", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "333f8802-0d4b-4837-9bcc-2d623aeb39cf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.03 }, "kind": "title", "text": "3) Phony claim A: Solid-state material resists dendrites", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a3a4f0a9-ca60-4ecb-adae-11f59165a82a", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "5309861d-b3fe-4691-9dd5-9a32d5ff6dd5", "evidence": "The slide explicitly frames the company's technical claims as 'phony' and 'cherry-picking' to expose potential investor deception.", "confidence": 0.9 } ], "arcBeats": [ { "to": 150, "from": 7, "beatId": "bb56e2cc-71d0-4a88-adf5-a740e3b3215c", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Critique of Quantumscape's claims and technology", "beatSlug": null, "evidence": "The document presents a detailed critique of Quantumscape's claims and technology.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 149, "from": 8, "beatId": "f51b8fe3-6117-425f-a2bb-d0457528eb59", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Exposure of contradictions and red flags in Quantumscape's data", "beatSlug": null, "evidence": "The document highlights multiple contradictions and red flags in Quantumscape's data.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }