{
  "docId": "019de06f-9491-73fc-ba6f-7f3e57ef478b",
  "docSlug": "29a857e2f6ce588b220dbce4cf7015c7",
  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 42 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-04-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.294673,
  "pageNumber": 27,
  "pageCount": 42,
  "prevPage": 26,
  "nextPage": 28,
  "slideType": "sensitivity_analysis",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 90,
  "notes": "The slide presents two sensitivity tables (Rapid Taper Case and Gradual Taper Case) showing Series B Value, Converted Shares (VWAP-Based), and Converted Shares (DDM-Based).",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-9491-73fc-ba6f-7f3e57ef478b/27",
  "deckHref": "/decks/019de06f-9491-73fc-ba6f-7f3e57ef478b",
  "deckJsonHref": "/decks/019de06f-9491-73fc-ba6f-7f3e57ef478b.json",
  "deckAnchorHref": "/decks/019de06f-9491-73fc-ba6f-7f3e57ef478b#slide-27",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.92,
        "x": 0.04,
        "y": 0.88
      },
      "kind": "disclaimer",
      "text": "Source: Arkose Projections, Wall Street research and Bloomberg market data as of 29-Mar-2018. 1 Calculation divides DDM-implied Series B value by current GP 20-trading day VWAP... 2 Calculation divides DDM-implied Series B value by DDM-implied GP share price...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d50b9a8b-2169-4e8b-9913-6ca048eaa9c8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.92,
        "x": 0.04,
        "y": 0.22
      },
      "kind": "table",
      "text": "Sensitivity tables for Rapid Taper Case and Gradual Taper Case",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7221862f-6ae9-4183-85bb-604e6f6229a0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.13,
        "y": 0.07
      },
      "kind": "title",
      "text": "Illustrative Implied Series B Value (con't)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e1454638-4690-41ba-9f01-b947831501da",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.35,
        "x": 0.13,
        "y": 0.12
      },
      "kind": "title",
      "text": "Series B Dividend Discount Model | ($ in millions)",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "74ff1fa6-09b7-45b3-b44c-e8d496d80cf7",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "044d1a34-9273-473d-bfae-cbd5aaf2ed8d",
      "evidence": "table/data: Sensitivity tables for Rapid Taper Case and Gradual Taper Case",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "sensitivity_analysis",
      "slug": null,
      "matchId": "02ceacad-5ec9-4ca2-bfc3-acd8a72c8e21",
      "evidence": "The slide uses a grid-based sensitivity analysis to show how changes in cost of equity and growth rates impact valuation and share conversion.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 42,
      "from": 15,
      "beatId": "12407bef-a172-4cd7-94e8-65679e17beea",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The appendix and remaining financial analysis slides provide impact and next steps.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}