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  "docSlug": "a7c3404fe6d9b07e562dfbed52ad51d0",
  "documentTitle": "Pershing Square | Activist Presentation Deck | 43 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-10-01 00:00:00",
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  "pageNumber": 21,
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  "slideType": "key_takeaways",
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  "density": "sparse",
  "nDataPoints": 9,
  "notes": "The chart uses a stacked bar format to show the composition of owned vs licensed units over time.",
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      "kind": "callout",
      "text": "Since 2010, Starbucks has grown units at an 8% annual rate, with balanced growth between owned and licensed units",
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      "kind": "chart",
      "text": "Total Units ('000s): FY 2010 to 2018E",
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      "text": "Source: 2010-2017 as per SBUX public filings, 2018E as per Pershing Square estimates.",
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      "text": "Strong Historical Unit Growth: Total",
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      "name": "Cost Of Inaction",
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      "objective": "What are the consequences of not addressing U.S. SSS weakness?",
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