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  "docSlug": "36531221f1c67575f86f87d8dbd73e65",
  "documentTitle": "Trian Partners | Activist Presentation Deck | 133 slides",
  "authorId": "trian-partners",
  "authorName": "Trian Partners",
  "documentKindSlug": "activist-deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-03-01 00:00:00",
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  "density": "balanced",
  "nDataPoints": 12,
  "notes": "Uses a rollercoaster metaphor to visualize the strategic trajectory.",
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      "text": "Rollercoaster graphic illustrating the strategic arc.",
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      "kind": "list",
      "text": "Reinvigorating the Flywheel (2005-2015): Mr. Iger becomes CEO, focuses on IP, acquires Pixar/Marvel/Lucasfilm, accelerates earnings.",
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      "kind": "list",
      "text": "Strategic & Operating Failures (2019-Today): Fox acquisition, Disney+ launch, CEO change, COVID growth, streaming losses, re-hiring Iger.",
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      "kind": "list",
      "text": "Ignoring Warning Signs (2015-2018): Netflix growth, cord cutting impacts, ESPN subscriber decline.",
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      "kind": "source-note",
      "text": "Source: SEC filings, Company transcripts, press releases. (1) Difference between fiscal year end 2018 and 2019 total debt balances. (2) Disney issued 307 million shares to Fox shareholders as part of the transaction. Disney had 1.49 billion common shares outstanding as of 01/30/19.",
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      "kind": "title",
      "text": "Context for Performance: Disney’s Strategic Rollercoaster",
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      "evidence": "Mentions 'Reinvigorating the Flywheel' as a core strategic concept.",
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      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate (Make it worse)",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The document highlights the board's complacency, lack of accountability, and poor oversight on strategy and culture.",
      "position": 1,
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      "parentBeatName": "Development",
      "parentBeatSlug": "development"
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  "loops": [
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      "name": "Iceberg",
      "slug": "10-iceberg",
      "bestFor": "Consulting, complex problem solving, organizational change",
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      "evidence": "The document reveals the underlying issues with Disney's board, including complacency and lack of accountability.",
      "position": 1,
      "objective": "To reveal the underlying issues with Disney's board",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
      "confidence": 0.7,
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