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      "text": "1. Twist exhibits telling signs that growth that has peaked and saturation is imminent... 2. Twist is becoming especially saturated in NGS...",
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      "text": "Part VI: Twist exhibits telling signs that its “growth” is about to hit the wall, beyond the accounting games that typically signal desperation: a) saturation in its tiny niche of price-sensitive, smaller customers, particularly in NGS; b) struggles in competing against large incumbents that own the market; c) a miniscule TAM, as it lacks the capability to compete in the largest part of the NGS market, which is already shrinking as pricing collapses; d) an imminent flood of disruptive, venture-backed entrants with newer DNA synthesis technologies. Competitors provided various data points illustrating the depth of Twist’s struggles: “I still have many friends there, and the mood isn’t so great”; “much harder to gain traction”; not having “much of an impact”; a face-plant in its new antibody offering; and competitors “having a substantial amount of success at winning back the customers” that Twist lured with discounts. Even Twist’s customers ticked off a list of new players that pose a looming existential threat: “20 different companies developing different technologies.”",
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