{ "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": 50, "pageCount": 236, "prevPage": 49, "nextPage": 51, "slideType": "villain_critique", "function": "name_villain", "density": "dense", "nDataPoints": 2, "notes": "Uses aggressive, colloquial language ('dumpster fire', 'fastest pig at the county fair') to undermine the target company.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-4b91788fc785/50", "deckHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785#slide-50", "components": [ { "bbox": { "h": 0.2, "w": 0.45, "x": 0.05, "y": 0.045 }, "kind": "callout", "text": "Dec 2017 press release\nGenScript Debuts Industry's\nHighest Throughput DNA\nSynthesis Platform for\nCommercial DNA Digital Data\nEach CMOS DNA chip carries 8.4 million unique oligos", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0762b730-0ff5-469a-97fa-5995016cc746", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "Twist is not even the fastest pig at the county fair.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-0932-77cf-bfe7-5528d862ac24", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "paragraph", "text": "The Genscript/Custom Array chip that leaves Twist in the dust was announced about 6 months ago, and Twist’s investors appear blissfully ignorant of it. Genscript’s array has the capacity to manufacture 8.4 million DNA strands simultaneously vs. Twist’s claim of >1 million – an almost 10X difference. A former Twist employee told us it “even surpasses Twist’s ability to play in that space” and that Genscript’s “manufacturing platform” is “extremely similar to Twist.” We note that Genscript is also a cash-burning dumpster fire - the announcement is less a validation of the space or technology than a reminder that Twist is not even the fastest pig at the county fair.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e95c9e0c-86f6-47f6-98c0-7d6145bc0ae6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.7 }, "kind": "quote", "text": "Ex-Twist employee: GenScript chip “surpasses Twist’s ability”; “extremely similar to Twist”\n“However, recently, I don’t know if you caught the announcement from GenScript with their new semiconductor synthesis platform and their ability to make, I think it’s over 8 million unique oligos, which even surpasses Twist’s ability to play in that space. GenScript is focusing on synthetic biology. I would argue that’s Twist’s core focus. If you look at all of their products, most of them are synthetic biology driven. GenScript just came out with a semiconductor manufacturing platform that’s extremely similar to Twist, so I wonder about the future uniqueness of their ability to play in both markets, NGS and synthetic biology, in the five-year stretch.” —Former employee now at a key competitor", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "54f2e96d-9cae-40df-a396-6ee0b0ea73c5", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“However, recently, I don’t know if you caught the announcement from GenScript with their new semiconductor synthesis platform and their ability to make, I think it’s over 8 million unique oligos, which even surpasses Twist’s ability to play in that space. GenScript is focusing on synthetic biology. I would argue that’s Twist’s core focus. If you look at all of their products, most of them are synthetic biology driven. GenScript just came out with a semiconductor manufacturing platform that’s extremely similar to Twist, so I wonder about the future uniqueness of their ability to play in both markets, NGS and synthetic biology, in the five-year stretch.” — Former employee now at a key competitor", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-0932-77cf-bfe7-58a9adff128d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.7, "x": 0.05, "y": 0.96 }, "kind": "source-note", "text": "Source: https://www.prnewswire.com/news-releases/genscript-debuts-industrys-highest-throughput-dna-synthesis-platform-for-commercial-dna-digital-data-301525131.html", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e0a0d5b6-3bc7-48c7-9c5f-dd118c3e17e4", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Villain slide", "slug": "villain-slide", "agent": null, "layer": "slide", "matchId": "4767b39e-277a-40e6-9a07-b12e15980b20", "evidence": "The slide presents a critical view of Twist, implying that its investors are unaware of Genscript's announcement, portraying Twist negatively.", "confidence": 0.9 } ], "frameworks": [ { "name": "antagonist-introduction", "slug": null, "matchId": "0bff7366-0f66-40f3-9e24-65dac7a16387", "evidence": "Frames Genscript as the superior competitor to undermine Twist's market position.", "confidence": 0.9 } ], "arcBeats": [], "loops": [ { "to": 50, "from": 40, "name": "Aha Moment", "slug": "03-aha-moment", "bestFor": "Data-heavy sections, research findings, analytical arguments", "matchId": "d5122c72-a2f9-49da-bf7c-caa467b4ff01", "evidence": "Expert testimonies and industry comparisons", "position": 0, "objective": "Reveal the flaws in Twist's DNA chip narrative", "structure": "The Problem/Question -> What the Data Shows -> The Insight", "confidence": 0.7, "description": "Establish a tension, present data, then deliver the insight that changes everything" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }