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  "documentTitle": "Twist Bioscience (TWST)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2022-11-15 00:00:00",
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      "text": "Key competitor sees through Twist's strategy and is waiting them out; thinks Twist will either blow up or only capture the worst customers with \"insane prices,\" given they're \"not as reliable,\" \"lower quality,\" slower",
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      "text": "Key competitor sees through Twist’s strategy and is waiting them out; thinks Twist will either blow up or only capture the worst customers with “insane prices,” given they’re “not as reliable,” “lower quality,” slower",
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      "text": "“Without going into a lot of details, the reaction from IDT was like, okay, let’s see how this plays out. The folks at IDT, there are a lot of very smart people that know everything there is to know about DNA synthesis. We had a pretty darned good guess that they were either making very little money or maybe even losing money. So, IDT’s reaction was—and I think still is—just patience. IDT lowered prices a little bit in key markets like Boston and the Bay area, but IDT actively avoided going head-to-head with customers that we knew Twist was offering insane prices for because we figured that either Twist is going to run out of venture capital steam and pitter out, and we’re going to preserve our price premium, which in the long run is going to be good. Or Twist, because they’re not as reliable, they don’t have as great of a turnaround time, they’re a lower quality provider, they might eat at our customer base, at least the high price sensitivity customer base, and that’s going to suck. And that’s eventually what happened...IDT still commands a price premium.” –IDT ex-regional sales manager, left recently",
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      "text": "Without going into a lot of details, the reaction from IDT was like, okay, let’s see how this plays out. The folks at IDT, there are a lot of very smart people that know everything there is to know about DNA synthesis. We had a pretty darned good guess that they were either making very little money or maybe even losing money. So, IDT’s reaction was—and I think still is—just patience. IDT lowered prices a little bit in key markets like Boston and the Bay area, but IDT actively avoided going head-to-head with customers that we knew Twist was offering insane prices for because we figured that either Twist is going to run out of venture capital steam and pitter out, and we’re going to preserve our price premium, which in the long run is going to be good. Or Twist, because they’re not as reliable, they don’t have as great of a turnaround time, they’re a lower quality provider, they might eat at our customer base, at least the high price sensitivity customer base, and that’s going to suck. And that’s eventually what happened…IDT still commands a price premium. — IDT ex-regional sales manager, left recently",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Key competitor Danaher/IDT stated that Twist took only their worst, most price sensitive customers - and that they let them have them. He described Twist as “a lower quality provider” that is “not as reliable,” leading IDT to just be patient until Twist unravels - “we actively avoided going head-to-head with customers that we knew Twist was offering insane prices [to].” He added that IDT has remained rational and “still commands a price premium,” and is therefore profitable vs. Twist’s losses.",
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