{
  "docId": "019de06f-daca-777c-bc25-d8d3ee94e915",
  "docSlug": "9ef7648740226fd7c86ec1ec69dcd217",
  "documentTitle": "Lazard | Investment Banking Pitch Book | 7 slides",
  "authorId": "lazard",
  "authorName": "Lazard",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2019-08-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2929293,
  "pageNumber": 3,
  "pageCount": 7,
  "prevPage": 2,
  "nextPage": 4,
  "slideType": "data_table",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 45,
  "notes": "Includes dual-axis line charts for historical VWAP and a summary table for exchange ratio calculations.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-daca-777c-bc25-d8d3ee94e915/3",
  "deckHref": "/decks/019de06f-daca-777c-bc25-d8d3ee94e915",
  "deckJsonHref": "/decks/019de06f-daca-777c-bc25-d8d3ee94e915.json",
  "deckAnchorHref": "/decks/019de06f-daca-777c-bc25-d8d3ee94e915#slide-3",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.15,
        "x": 0.55,
        "y": 0.87
      },
      "kind": "callout",
      "text": "Recent trading implies exchange ratio of ~0.055",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "930c0ef7-4939-4fc9-b3ed-90010c9f62f5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.04,
        "y": 0.6
      },
      "kind": "chart",
      "text": "Exchange Ratio as of August 13, 2019",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0e1b443b-df71-443e-a7be-582c5232e4fe",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.04,
        "y": 0.24
      },
      "kind": "chart",
      "text": "Raven and Vail VWAP Comparison",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9615d90f-d1ae-46ce-ac5e-de02ed940a1c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.16,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: Company filings and FactSet as of 8/13/2019. VWAP based on number of trading days.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a5b6519b-4009-45d2-bdee-0e4f1c98861b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.45,
        "x": 0.52,
        "y": 0.23
      },
      "kind": "table",
      "text": "Exchange Ratios for Different VWAP Periods",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f4c2d6a6-7bae-47ea-94d9-59a4df54b504",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.04,
        "y": 0.16
      },
      "kind": "title",
      "text": "VWAP Metrics and Implied Exchange Ratios",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "13d79b6f-b5df-441d-ab08-b7f366970afd",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 4,
      "from": 3,
      "beatId": "e76eb8dc-b12f-4870-b4a3-400ce7b91fb6",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Problem",
      "beatSlug": "sequoia-pitch-problem",
      "evidence": "Slides 3-4 present data tables that could be used to identify a problem or opportunity.",
      "position": 0,
      "confidence": 0.6,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [
    {
      "to": 4,
      "from": 3,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "3c4706dd-7a54-4b38-a5ae-9b0e44f3b3dc",
      "evidence": "The data tables on slides 3-4 could be used to illustrate the costs of not pursuing Project Raven.",
      "position": 0,
      "objective": "Highlight the potential costs of inaction regarding Project Raven",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}