{
  "docId": "019dd923-622c-750b-8b9a-539b4b45e826",
  "docSlug": "9fb9cb7289b2",
  "documentTitle": "iQIYI, Inc. (IQ)",
  "authorId": "60_Wolfpack_Research",
  "authorName": "Wolfpack Research",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-07 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 5,
  "pageCount": 37,
  "prevPage": 4,
  "nextPage": 6,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 30,
  "notes": "The table highlights specific low-population regions appearing in top-10 rankings, which the author argues is statistically improbable.",
  "elementsJson": [
    "paragraph",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-539b4b45e826/5",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-539b4b45e826",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-539b4b45e826.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-539b4b45e826#slide-5",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "It is nearly impossible for regions with such small populations to generate enough organic traffic to top IQ’s heat index charts.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-203f-7169-9f8f-74ca262119fd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.764,
        "x": 0.118,
        "y": 0.875
      },
      "kind": "disclaimer",
      "text": "10 注: 数据来自于近 3 个月爱奇艺全站, data comes from the most recent three months for IQ’s site\n11 Heat Index data is shown is for the most recent three months. We believe these bots/click farms are active at all times, but their impact is most impactful a few months after new content is released as organic viewership levels fall.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "77f23eb3-853c-4818-b40e-b08ee6eaf933",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.764,
        "x": 0.118,
        "y": 0.094
      },
      "kind": "paragraph",
      "text": "However, recent checks on IQ’s popular programs including “Old Boy,” “Idol Producer” and “Hot Blood Dance Crew” included regions with very small populations such as Tibet, Hainan, Ningxia or Inner Mongolia in the top 10: 10",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "07ff2f09-b440-46a8-be53-de5df5b6aca8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.764,
        "x": 0.118,
        "y": 0.374
      },
      "kind": "paragraph",
      "text": "It is nearly impossible for regions with such small populations to generate enough organic traffic to top IQ’s heat index charts. Instead, we believe these highly abnormal patterns are indications that IQ employs methods to inflate the viewership levels of its content.11",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2b0a9a6d-86d0-4595-a38c-7e8a27c5025c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.55,
        "x": 0.225,
        "y": 0.342
      },
      "kind": "source-note",
      "text": "source: iQIYI company data, April 2020 - based on most recent 3 mos data",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "51507527-c4e1-43fe-8ab9-ada528f872cf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.235,
        "w": 0.55,
        "x": 0.225,
        "y": 0.162
      },
      "kind": "table",
      "text": "iQIYI Heat Index - Top Locations table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8a269c3c-c680-4b1a-91f4-0203efbf50a1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "fe9c571d-49aa-415e-aa17-0b689822bdbd",
      "evidence": "The slide uses anomalous data patterns to argue for the existence of click farms/viewership inflation.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 5,
      "from": 2,
      "beatId": "7149eae0-4545-4469-aef8-1f96dcd2261b",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "The document presents a series of contradictions and inconsistencies in iQIYI's financial reporting",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [
    {
      "to": 5,
      "from": 3,
      "name": "Aha Moment",
      "slug": "03-aha-moment",
      "bestFor": "Data-heavy sections, research findings, analytical arguments",
      "matchId": "5e1042df-4289-4976-a039-2109595a3b2a",
      "evidence": "The document presents evidence of click farm activity and inflated user numbers",
      "position": 0,
      "objective": "Is iQIYI's user numbers accurate?",
      "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
}