{ "docId": "019dd923-622c-750b-8b9d-2310ae33859a", "docSlug": "088de79b26ea", "documentTitle": "LivePerson, Inc. (LPSN)", "authorId": "03_Starboard_Value", "authorName": "Peter Feld", "documentKindSlug": "shareholder-letter", "documentKindLabel": "Shareholder letter", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2022-05-09 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 2, "pageCount": 6, "prevPage": 1, "nextPage": 3, "slideType": "villain_critique", "function": "name_villain", "density": "overcrowded", "nDataPoints": 1, "notes": "The slide uses negative testimonials to frame the CEO as incompetent and distracted.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9d-2310ae33859a/2", "deckHref": "/decks/019dd923-622c-750b-8b9d-2310ae33859a", "deckJsonHref": "/decks/019dd923-622c-750b-8b9d-2310ae33859a.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9d-2310ae33859a#slide-2", "components": [ { "bbox": null, "kind": "callout", "text": "Beyond these survey results, we believe a sampling of the Glassdoor reviews from anonymous employees of LivePerson provides ample evidence of the severe issues with corporate culture.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-e6ec-7186-b7c0-1e908c3c26cb", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "employee approval rating: 14%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd952-e6ec-7186-b7c0-2551acca5fcd", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.78, "x": 0.11, "y": 0.09 }, "kind": "paragraph", "text": "LivePerson, Robert LoCascio, has among the lowest approval ratings in the entire Proxy Peer group with an approval rating that is 14% below the average of the Proxy Peer group. Furthermore, LivePerson even ranks dead last among Proxy Peers on whether employees would recommend the Company to a friend.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "51b3f680-be8c-449e-86a2-8e539fede94e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.78, "x": 0.11, "y": 0.23 }, "kind": "quote", "text": "Being a part of LivePerson right now is like watching a plane crash in slow motion. The CEO is investing in the most random stuff... Advice to Management: Get it together, work on what you know and stop trying to do random crap that doesn't apply to our core business model.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1905a75f-a098-4496-8241-26da7e97b1d4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.78, "x": 0.11, "y": 0.42 }, "kind": "quote", "text": "Sometimes I have to just tell friends about how this company is run and the incredibly bizarre things that happen here to make sure I'm not going crazy... Advice to Management: For the love of all things, focus on the core business.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5b2fff08-e10a-4483-80cf-75be502c7906", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.22, "w": 0.78, "x": 0.11, "y": 0.61 }, "kind": "quote", "text": "And then there is the CEO. Oh...man. Here's his deal...he is a very good salesman. Could sell bottled saltwater to native Hawaiians. Except the problem is, HE would have been the one who came up with the idea to actually bottle saltwater, which is a TERRIBLE business idea!", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f2a5a220-3611-46c7-9f6a-aa22b9939aa9", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"Being a part of LivePerson right now is like watching a plane crash in slow motion. The CEO is investing in the most random stuff like a health app to test for COVID despite no need for it anymore and a whole BANK? It's a chatbot company, we have no business being in those fields.\" — Anonymous Glassdoor Review (April 14, 2022); \"Sometimes I have to just tell friends about how this company is run and the incredibly bizarre things that happen here to make sure I'm not going crazy.\" — Anonymous Glassdoor Review (August 11, 2021); \"And then there is the CEO. Oh...man. Here's his deal...he is a very good salesman. Could sell bottled saltwater to native Hawaiians. Except the problem is, HE would have been the one who came up with the idea to actually bottle saltwater, which is a TERRIBLE business idea!\" — Anonymous Glassdoor Review (September 27, 2021)", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-e6ec-7186-b7c0-204c4fbc1541", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.78, "x": 0.11, "y": 0.87 }, "kind": "source-note", "text": "1 Proxy Peers defined as the Company's peers as published on page 26 of the Company's 2021 proxy statement. Reflects the approval ratings of LivePerson and its Proxy Peers on Glassdoor as of May 4, 2022. 2 Reflects the rankings of LivePerson and its Proxy Peers on Glassdoor as of May 4, 2022.", "attrs": { "numbered": true }, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "77247970-04e8-4279-b541-1ea1e8340d43", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Anadiplosis", "slug": "anadiplosis", "agent": "Storyteller", "layer": "slide", "matchId": "85898a06-9cb8-4f7b-a109-9fa653e49631", "evidence": "The use of repeated structures and phrases, such as 'Advice to Management' followed by similar quotes, creates an anadiplosis effect.", "confidence": 0.7 }, { "name": "Villain slide", "slug": "villain-slide", "agent": null, "layer": "slide", "matchId": "40104ee4-76a6-4f03-8c3e-a023c1daddab", "evidence": "The slide presents a critical view of LivePerson's CEO, Robert LoCascio, with quotes from employees and metrics highlighting low approval ratings.", "confidence": 0.9 } ], "frameworks": [ { "name": "antagonist-introduction", "slug": null, "matchId": "2d4a019f-b8c5-4acf-a8ff-2fbe4c6f0642", "evidence": "The slide explicitly frames the CEO as the source of corporate failure through negative testimonials.", "confidence": 0.9 } ], "arcBeats": [ { "to": 2, "from": 2, "beatId": "21018366-3c50-4fca-bf50-9481d21f15cc", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Monster", "beatSlug": "overcoming-monster-the-monster", "evidence": "The villain critique of LivePerson's management", "position": 0, "confidence": 0.8, "parentBeatName": "Hook", "parentBeatSlug": "hook" } ], "loops": [ { "to": 5, "from": 2, "name": "The Reveal", "slug": "05-the-reveal", "bestFor": "Product launches, strategic pivots, unexpected findings", "matchId": "ce56f6a9-2c8b-4672-b97e-592835c18030", "evidence": "The presentation of several issues with the current management", "position": 0, "objective": "Reveal the issues with the current management", "structure": "Setup the Question -> Build Suspense -> The Big Reveal", "confidence": 0.7, "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }