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  "documentTitle": "Twist Bioscience (TWST)",
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  "authorName": "Scorpion Capital",
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      "kind": "callout",
      "text": "Adamant that even a 50% discount wouldn’t be enough to persuade them to buy from Twist",
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      "text": "He emphasized that the discount was essential to sticking with Twist, and that “even with a 50% discount, we wouldn’t buy it” – “we would not buy DNA from them.”",
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      "text": "Twist discounts off list by 70%; only shifted from Agilent to Twist because of discount; implies paying 1.3 cents",
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      "text": "discount rate: 70%",
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      "text": "The head of a research lab at a major university, a significant account, was representative. He stated that he only switched from Agilent to Twist “because of the discount,” which he indicated was 70% off list – a giveaway, at a price we estimate at a mere 1.3 cents per base pair. He emphasized that the discount was essential to sticking with Twist, and that “even with a 50% discount, we wouldn’t buy it” – “we would not buy DNA from them.”",
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      "text": "Q: “You’re saying the net discount was more than 70%? So, you’re paying 30% of list?”\nA: “We’re paying 30% of list, yeah or below—in that neighborhood.”",
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      "text": "“And the other thing is being academic, without that discount, we would just not do the project. We would not buy DNA from them at list, cost, or even with a 50% discount; we wouldn’t buy it...\"",
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      "text": "A: “I worked with them for the first time five or six years ago. And then, for three or four years, I was buying all of my oligo pools from Agilent...So, for the last two years, we’ve been doing everything by Twist because of the discount and in the two years, it stayed constant.”",
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      "text": "“I was buying all of my oligo pools from Agilent...So, for the last two years, we’ve been doing everything by Twist because of the discount and in the two years, it stayed constant.” — Current Twist customer, professor with a protein therapeutics lab at a major university",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Customer interviews clearly indicated Twist’s dependence on extreme discounting to hold on to accounts.",
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