{
  "docId": "019dd923-622c-750b-8b9b-74abb4a757e7",
  "docSlug": "886ebab3088d",
  "documentTitle": "Herbalife, Ltd. (HLF)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-12-20 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 111,
  "pageCount": 334,
  "prevPage": 110,
  "nextPage": 112,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 5,
  "notes": "The slide uses a stacked bar visual to decompose the 73% payout into specific components, contrasting them with the $1.8 billion retail profit figure.",
  "elementsJson": [
    "process_diagram",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-74abb4a757e7/111",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7#slide-111",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Adjustment #2: Internal Consumption ≠ Retail Profit",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-1ac1-76e9-bcc1-9c8cd8d4424d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.7,
        "w": 0.32,
        "x": 0.1,
        "y": 0.2
      },
      "kind": "chart",
      "text": "73% Distributor Payout",
      "attrs": null,
      "subkind": "bar-stacked",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "63013e14-f920-4deb-94cb-e1184da6812c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.08,
        "x": 0.42,
        "y": 0.35
      },
      "kind": "legend",
      "text": "$797 million",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5f4b468f-7d6b-4b15-ad4c-a727caf6605a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.08,
        "x": 0.42,
        "y": 0.65
      },
      "kind": "legend",
      "text": "$1.8 billion",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "887b71ea-9da1-44b3-bf16-92d073b6f12c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Distributor Payout: 73%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-1ac1-76e9-bcc1-a33dd3854d48",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.4,
        "x": 0.52,
        "y": 0.4
      },
      "kind": "title",
      "text": "Adjustment #2: Internal Consumption ≠ Retail Profit",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f617b9d1-3023-4e6b-9700-9f757d79ecb8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "c4b8a8d2-8ea5-4b6e-9a11-7d09af615e2c",
      "evidence": "The slide explicitly calls out a contradiction between internal consumption and retail profit to expose potential financial misrepresentation.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 150,
      "from": 6,
      "beatId": "5f7d58b7-65aa-4344-b7b3-2f8a867ee10c",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "The document extensively uses this beat to highlight contradictions in Herbalife's statements and practices.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 150,
      "from": 6,
      "name": "Logic Chain",
      "slug": "01-logic-chain",
      "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis",
      "matchId": "1adf2f4c-7781-447d-8ff2-151cfcce11be",
      "evidence": "The document builds a logical argument against Herbalife's practices.",
      "position": 0,
      "objective": "To demonstrate that Herbalife's business model is flawed",
      "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)",
      "confidence": 0.8,
      "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}