{ "docId": "019dd923-622c-750b-8b9a-c6e3fab36be0", "docSlug": "35c4ff59902b", "documentTitle": "authID Inc. (AUID)", "authorId": "61_White_Diamond_Research", "authorName": null, "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2024-04-23 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 9, "pageCount": 13, "prevPage": 8, "nextPage": 10, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 2, "notes": "The slide uses a 'quote-rebuttal' format to systematically dismantle the credibility of the subject's claims.", "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-c6e3fab36be0/9", "deckHref": "/decks/019dd923-622c-750b-8b9a-c6e3fab36be0", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-c6e3fab36be0.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-c6e3fab36be0#slide-9", "components": [ { "bbox": null, "kind": "callout", "text": "We believe its value today is close to zero.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-70f7-7334-b21e-74112c56a38d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.85, "x": 0.08, "y": 0.79 }, "kind": "paragraph", "text": "Our comment: AGBA right now has its executives in Hong Kong. The entire Hong Kong company is now looking to move to Los Angeles. Where is the advantage of this?", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "20fc6393-c9a6-4e5a-bb11-b74fd0ef21cd", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.85, "x": 0.08, "y": 0.41 }, "kind": "paragraph", "text": "Ng: \"Our contribution is scaling the business. And we have a specific plan how to make money. It requires a few things. #1 people, and #2 capital. I'm fortunate to say at this moment, that we have a lot of capital chasing us. And #3 ideas.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "25f0520f-d447-4e15-ab2e-462ccc059a68", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.85, "x": 0.08, "y": 0.26 }, "kind": "paragraph", "text": "Our comment: Ng is referring to Triller's last funding round we mentioned earlier where Triller received $200M in convertible notes. That round was on 8/29/22. This was 22 months ago, not 12-13.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3213385c-6524-4c89-98d5-5e51ffb0c37b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.85, "x": 0.08, "y": 0.74 }, "kind": "paragraph", "text": "Ng: \"As a part of this merger, the entire company will be redomiciled, relocated to Los Angeles. We have a team going around in Los Angeles looking for a campus for us.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "385e5e7d-0cb5-40a5-b80e-34cac7841b81", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.85, "x": 0.08, "y": 0.67 }, "kind": "paragraph", "text": "Our comment: What is Ng talking about here? Recommendations? He doesn't go into any specifics on what he means by recommendations. We don't see any synergies between a financial services provider and a social media company.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4b305b6a-a231-4c85-b233-b3c0a3ae0e47", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.85, "x": 0.08, "y": 0.57 }, "kind": "paragraph", "text": "Ng: \"Agba's financial expertise and Triller's AI-driven capabilities are incredibly complimentary...\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a2602f64-929a-4b37-99f1-2158a24b5b45", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.85, "x": 0.08, "y": 0.21 }, "kind": "paragraph", "text": "Ng: \"Triller did a last private round of capital raising just about 12-13 months ago, valuing it at over $3B\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bd2b3372-1534-484f-b092-b63e228868d4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.85, "x": 0.08, "y": 0.48 }, "kind": "paragraph", "text": "Our comment: People, capital, and ideas are a vague description of a plan. Ng doesn't go into any more detail. Didn't Triller have people, capital and ideas when it raised hundreds of millions of dollars?", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "eb9f934b-69bd-4662-9681-67886b3c4409", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.85, "x": 0.08, "y": 0.15 }, "kind": "paragraph", "text": "Our comment: What technology does AGBA have? It's a financial services company. What synergies would a social media, video-streaming company have with a financial services company?", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f0b8f6e8-b97c-4255-8bbc-b6fcc22046a6", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "Triller did a last private round of capital raising just about 12-13 months ago, valuing it at over $3B — Ng. Our contribution is scaling the business. And we have a specific plan how to make money. It requires a few things. #1 people, and #2 capital. I'm fortunate to say at this moment, that we have a lot of capital chasing us. And #3 ideas. — Ng. Agba's financial expertise and Triller's AI-driven capabilities are incredibly complimentary. At the core of a social media company and the core of a financial services company, is really recommendations. — Ng. As a part of this merger, the entire company will be redomiciled, relocated to Los Angeles. We have a team going around in Los Angeles looking for a campus for us. — Ng.", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-70f7-7334-b21e-7b27e0070025", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "expose_contradiction", "slug": null, "matchId": "c76b9c7d-aa4b-49e7-b226-7d3ec6bccaec", "evidence": "Systematic rebuttal of executive quotes", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }