{
  "docId": "019de072-1f6e-7109-8d50-4e45b3936efe",
  "docSlug": "033864d6d616563cf5318ae3626e6da2",
  "documentTitle": "Blackwells Capital | Activist Presentation Deck | 65 slides",
  "authorId": "blackwells-capital",
  "authorName": "Blackwells Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-02-01 00:00:00",
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  "pageNumber": 15,
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  "density": "balanced",
  "nDataPoints": 16,
  "notes": "Includes a bar chart of monthly workouts per subscriber and a grid of instructor Instagram follower counts.",
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  "components": [
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      "kind": "callout",
      "text": "\"Star\" instructors and social media creates competitive moat and network effect",
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      "text": "Monthly Workouts Per Subscriber",
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      "text": "Instructors Instagram Followings",
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      "kind": "list",
      "text": "Peloton's instructors provide differentiated experience and have grown significant social media followings. Frequency of workouts has increased, reflecting customer satisfaction. The platform has a social aspect, so satisfied customers are likely to refer friends. This virtuous circle that allows company to invest in more content and the social aspects of the platform",
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      "kind": "source-note",
      "text": "Source: Company filings and Instagram. Instagram follower data as of February 4, 2022.",
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      "kind": "title",
      "text": "POWERFUL NETWORK EFFECTS",
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      "name": "Golden Circle",
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      "bestFor": "Visionary leadership, brand positioning, mission statements",
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      "evidence": "The document presents a clear and detailed critique of Peloton's management and governance",
      "position": 1,
      "objective": "To present a clear call to action",
      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
      "confidence": 0.7,
      "description": "Invert the typical pitch by starting with why you exist, rather than what you do"
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