{
  "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": 55,
  "pageCount": 71,
  "prevPage": 54,
  "nextPage": 56,
  "slideType": "competitive_analysis",
  "function": "quantify_opportunity",
  "density": "dense",
  "nDataPoints": 11,
  "notes": "Includes a table of financial metrics and a sensitivity analysis of value creation based on user penetration rates.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de072-78cb-7649-9a57-099c1a639af0/55",
  "deckHref": "/decks/019de072-78cb-7649-9a57-099c1a639af0",
  "deckJsonHref": "/decks/019de072-78cb-7649-9a57-099c1a639af0.json",
  "deckAnchorHref": "/decks/019de072-78cb-7649-9a57-099c1a639af0#slide-55",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.5,
        "x": 0.07,
        "y": 0.83
      },
      "kind": "image",
      "text": "Google Fit, Fitbit, YouTube Premium logos",
      "attrs": null,
      "subkind": "logo-grid",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a35cb757-9fd8-40b4-964a-d95e8331ac07",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.57,
        "x": 0.035,
        "y": 0.288
      },
      "kind": "list",
      "text": "Plug-and-play ability to bundle with 31 million weekly Fitbit users. Robust opportunity to cross-sell and bundle content. Strategically Defensive Asset.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "03738623-26e6-426b-93ca-bb540cb5ee4e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.65,
        "x": 0.175,
        "y": 0.955
      },
      "kind": "source-note",
      "text": "Source: CapIQ Pro and Company filings. All data as of April 8, 2022 unless specified otherwise. (2) Source: Company filings and publicly available data. Note: Assumes PTON incremental margin of 60%, below managements guidance of 70%, on current subscription prices. Accretion based on 2022E EBITDA multiples per Capital IQ.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bbbc7cf5-e214-4c81-b069-74161eb15719",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.36,
        "x": 0.62,
        "y": 0.29
      },
      "kind": "table",
      "text": "Company Overview: Market Cap, Enterprise Value, LTM Revenue, Cash, Net Debt/LTM EBITDA",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "119aa870-9e1c-4093-8e87-f12795c326f3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.36,
        "x": 0.62,
        "y": 0.598
      },
      "kind": "table",
      "text": "Economic Benefits to Google: Number of Users, Value Creation at Various User Penetration Rates",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e96e774c-4833-482b-933c-bba4409aed69",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.93,
        "x": 0.035,
        "y": 0.181
      },
      "kind": "title",
      "text": "Google would position itself as a leading player in health and wellness",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2b83550-51f5-4206-8747-745ff017d541",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.306,
        "x": 0.347,
        "y": 0.025
      },
      "kind": "title",
      "text": "POTENTIAL STRATEGIC ACQUIRERS: GOOGLE",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bb47b470-35ed-4f3d-bc2e-02d032d890ea",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "action-titles",
      "slug": null,
      "matchId": "2fb24000-3ce1-49cc-9291-0a49e2b33529",
      "evidence": "The slide uses a clear, thesis-driven headline that summarizes the strategic argument.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 63,
      "from": 34,
      "beatId": "daa81438-c572-45aa-848b-029c0c1080c4",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "The deck proposes a sale to a strategic acquirer as the best option for shareholders",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}