{
  "docId": "019de072-78cb-7649-9a57-099c1a639af0",
  "docSlug": "9c88b927c456379c98095f4bf3408c22",
  "documentTitle": "Blackwells Capital | Activist Presentation Deck | 71 slides",
  "authorId": "blackwells-capital",
  "authorName": "Blackwells Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-04-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 15,
  "pageCount": 71,
  "prevPage": 14,
  "nextPage": 16,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 3,
  "notes": "Uses news clippings and quotes to build a narrative of financial instability.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de072-78cb-7649-9a57-099c1a639af0/15",
  "deckHref": "/decks/019de072-78cb-7649-9a57-099c1a639af0",
  "deckJsonHref": "/decks/019de072-78cb-7649-9a57-099c1a639af0.json",
  "deckAnchorHref": "/decks/019de072-78cb-7649-9a57-099c1a639af0#slide-15",
  "components": [
    {
      "bbox": {
        "h": 0.45,
        "w": 0.3,
        "x": 0.65,
        "y": 0.004200000000000001
      },
      "kind": "image",
      "text": "New York Post article screenshot regarding Hamptons mansion sale.",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "31422085-c79b-481a-ae99-27b020b222d5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.38,
        "x": 0.58,
        "y": 0.0034
      },
      "kind": "image",
      "text": "CNBC article screenshot regarding $50 million stock sale to Michael Dell's firm.",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aeb98405-8f96-4d24-96b7-1927ba3f360c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.5,
        "x": 0.03,
        "y": 0.0034
      },
      "kind": "list",
      "text": "As of September 30, 2021, John Foley had pledged approximately 65% of his economic interest in Peloton. Recent reports suggest that Mr. Foley may be facing personal liquidity issues due to margin calls. On February 28, 2022, John Foley sold $50M stock.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "23b11147-26e2-4665-9ff2-9cd3bcb718c7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.5,
        "x": 0.03,
        "y": 0.0062
      },
      "kind": "list",
      "text": "In our view, this transaction and the Company's lack of transparency is troubling and raises several important questions: Was Mr. Foley's latest sale the result of a margin call? What was Mr. McCarthy's role? Did MSD get preferential treatment?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "42054f04-82ec-4f85-854f-90eb55635969",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.94,
        "x": 0.03,
        "y": 0.0017800000000000001
      },
      "kind": "quote",
      "text": "Foley, who stepped down as Peloton CEO in February, is under pressure to put up more collateral for the loans as Peloton's stock price has cratered by more than 80% in the past twelve months...",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "097d81fd-c929-42bf-8c0f-08ecd739efbe",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.8,
        "x": 0.17,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Sources (from top to bottom): (1) Business Insider, March 10, 2022. (2) CNBC, March 3, 2022. (3) New York Post, March 3, 2022.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ecf22ddf-b0f2-480d-bcfb-a95e2cb6d0ed",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.82,
        "x": 0.09,
        "y": 0.04
      },
      "kind": "title",
      "text": "MR. FOLEY APPEARS TO BE SELLING ASSETS UNDER FINANCIAL DURESS",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2ec452cd-3e97-4fc9-808c-af605c583cab",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "42767eaf-f924-47de-8f55-888ad2376fa8",
      "evidence": "The slide explicitly questions the transparency and potential conflicts of interest regarding the CEO's stock transactions.",
      "confidence": 0.85
    }
  ],
  "arcBeats": [
    {
      "to": 33,
      "from": 11,
      "beatId": "3ece2111-102a-48ca-9bd3-fb4a0cdc38c4",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Problem & Complication",
      "beatSlug": "consultants-gambit-problem-complication",
      "evidence": "The deck presents a detailed critique of Peloton's governance and strategy issues",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}