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  "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",
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  "pageNumber": 291,
  "pageCount": 334,
  "prevPage": 290,
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  "slideType": "problem_statement",
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  "density": "sparse",
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  "notes": "Uses a 'McDonald's' analogy to frame a problem, likely related to a highly regulated or restricted industry.",
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      "text": "No signage, including external displays of the Company’s name or logo\nNo advertising or promotion\nMust cover windows\nMust serve exact same three liquid products to every customer for breakfast, lunch, and dinner\nNo “Open / Closed” sign\nNot allowed to attract customers or walk-ins\nNo sales of product servings, only complimentary offerings\nOnly can charge fees to cover operating costs; product costs explicitly cannot be recovered\nCustomers not allowed to carry out food unless in a small, unmarked container",
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      "kind": "title",
      "text": "Imagine You Operated a McDonald’s, But Were Subject to the Following Constraints:",
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      "evidence": "Uses a hypothetical McDonald's scenario to illustrate the impact of extreme constraints.",
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