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  "documentTitle": "Blackwells Capital | Activist Presentation Deck | 65 slides",
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  "presentationDate": "2022-02-01 00:00:00",
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  "notes": "Uses a quote-based structure to contrast management's stated confidence with the reality of inventory buildup.",
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      "text": "How [do] you envision managing, meeting the incredible demand that you’re seeing now versus the risk of overbuilding [supply]...",
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      "text": "Foley insisted demand would only ever increase; Foley massively increased production capacity in 2020; In February 2021, Foley boasted about 6x capacity increase; But then demand slowed; Foley noted making more bikes than selling; Warehouses resembled jigsaw puzzles; Peloton forced to moth-ball production",
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      "text": "The actual hardware sales are incredibly predictable. It’s a beautiful business.",
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      "text": "[T]hat’s a term that’s never come up in the Peloton senior leadership rooms or boardrooms...We see that we’re going to be able to market into a massive opportunity that we’re going to need supply chain capacity for years and years.",
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      "text": "1. Source: John Foley on CNBC. November 5, 2019. 2. Source: Business Insider. 3. Mr. Foley responding to a question from a Goldman Sachs analyst on Q4 2020 Earnings Call. 4. Mr. Foley at Goldman Sachs Investor Conference, February 11, 2021.",
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      "text": "POOR DECISION MAKING: INABILITY TO FORECAST DEMAND",
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