{ "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": 78, "pageCount": 236, "prevPage": 77, "nextPage": 79, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 2, "notes": "The slide uses a Q&A format to highlight a contradiction between the company's claims and the operational reality described by a former employee.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-4b91788fc785/78", "deckHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785#slide-78", "components": [ { "bbox": null, "kind": "callout", "text": "In other words, the 96,000 test-tube equivalent capacity of the chip has spectacularly backfired – sort of like a plane that’s a thousand times larger than a typical one and has to spend days at the airport gathering passengers to amortize the fuel and labor.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-0932-77cf-bfe9-aa0c4d72194e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.84, "x": 0.08, "y": 0.46 }, "kind": "list", "text": "Chip can waste 4 or 5 days while waiting to fill it up to capacity; replied affirmatively if asked the chip is a \"giant scam\"; \"don't know how they can make it\"", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cb11825e-ff30-44bc-9747-389af68a3382", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.22, "w": 0.84, "x": 0.08, "y": 0.53 }, "kind": "paragraph", "text": "A: \"I think the problem is that the whole process is labor-intensive. They cannot bunch orders together because currently, they have to wait a few days; otherwise, they lose too much money, and they cannot stay utilizing 1/10th of the chip. They have to utilize the whole chip for a million oligos or rather 80% or 90% capacity, then start synthesizing. Otherwise, it's just too costly. It's not cost-effective. Right now, they have to wait sometimes for four or five days to start printing on the chip. Another one is I don't know how they can streamline the process and also build up the scale parallel so people have a more manageable workload and split the work. I don't know how they can make it.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9d2ee250-3702-44d3-bfc6-71d864aa3eee", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.84, "x": 0.08, "y": 0.08 }, "kind": "paragraph", "text": "A former director-level employee stated that the chip is a massive bottleneck that slows down manufacturing - \"I don't know how they can make it\"- as Twist has to batch orders and wait 4 or 5 days rather than only use part of the capacity of each chip: \"Otherwise they lose too much money...[I]t's just too costly. It's not cost-effective.\" In other words, the 96,000 test-tube equivalent capacity of the chip has spectacularly backfired – sort of like a plane that's a thousand times larger than a typical one and has to spend days at the airport gathering passengers to amortize the fuel and labor. We asked if the chip is \"a giant scam, to be blunt,\" which led the former employee to laugh and say \"yeah, yeah.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d778d23b-eae8-4700-8f9b-9567206dfd32", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.84, "x": 0.08, "y": 0.76 }, "kind": "paragraph", "text": "Q: \"Would they do better if they didn't have this chip? Because somebody like GenScript or other people don't have a chip, and they're faster. So, is this chip thing a giant scam, to be blunt?\"\nA: \"[Chuckles] Yeah, yeah. You can interpret it that way.\" – Former Twist employee, director-level", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "efa01a3b-1049-48db-99f3-cd5c16e044d6", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“I don't know how they can make it” — Former Twist employee, director-level", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-0932-77cf-bfe9-acd35625da3a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.08, "y": 0.96 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9eaf3903-d178-45ab-b34d-afe21d5bebf2", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "expose_contradiction", "slug": null, "matchId": "3490e697-a0fe-4173-bb6e-ed23e2e640d2", "evidence": "The slide contrasts the company's technological claims with a former employee's testimony about operational inefficiency.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }