{
  "docId": "019dd923-622c-750b-8b9a-4b91788fc785",
  "docSlug": "5fadb686cc03",
  "documentTitle": "Twist Bioscience (TWST)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-11-15 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 132,
  "pageCount": 236,
  "prevPage": 131,
  "nextPage": 133,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "The slide uses a visual 'gotcha' to undermine corporate credibility regarding capital expenditure.",
  "elementsJson": [
    "paragraph",
    "photo"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-4b91788fc785/132",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785#slide-132",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Common sense indicates that if a company has already spent $73MM to outfit a “Factory of the Future” with “laboratory property, equipment, and computers,” the promotional page for it in its investor presentation would show it.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0932-77cf-bfee-cf29efb5ab1e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.58,
        "w": 0.88,
        "x": 0.06,
        "y": 0.34
      },
      "kind": "image",
      "text": "Photograph of an empty warehouse space",
      "attrs": null,
      "subkind": "photo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c90004ce-bace-427c-b19a-0f649c84d4c4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "paragraph",
      "text": "The second photo, upon enlargement, is more damning, as it shows a vast, empty space with no lab equipment visible. Common sense indicates that if a company has already spent $73MM to outfit a “Factory of the Future” with “laboratory property, equipment, and computers,” the promotional page for it in its investor presentation would show it.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "06d0a617-b711-4b79-851a-9ba83e388b1a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "Page 26 of Twist’s Aug 2020 corporate presentation – second pic shows no laboratory pp&e",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-0932-77cf-bfee-d3a732296ff7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.4,
        "x": 0.05,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "Source: https://investors.twistbioscience.com/static-files/30d2bd1e-4725-4a9a-93bf-3f74486673c0",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1ebf5ba1-11f9-4096-9664-35478c2ba4f8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.7,
        "x": 0.05,
        "y": 0.3
      },
      "kind": "source-note",
      "text": "Page 26 of Twist’s Aug 2020 corporate presentation – second pic shows no laboratory pp&e",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d917c0cb-e4bf-4284-8082-468f81dea76d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "be8839d6-42b9-4eb9-9576-5a94e0c6bed8",
      "evidence": "The slide explicitly points out a discrepancy between reported capital expenditure and visual evidence of the facility.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}