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  "documentTitle": "Starboard Value | Activist Presentation Deck | 14 slides",
  "authorId": "starboard-value",
  "authorName": "Starboard Value",
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  "presentationDate": "2024-10-01 00:00:00",
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  "notes": "Uses the 'Rule of 50' framework to benchmark performance against peers.",
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      "text": "Salesforce is moving up the leaderboard",
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      "text": "Source: Company filings, Bloomberg, Capital IQ, Visible Alpha. Note: Rule of 50 score reflects CY2025E revenue growth + CY2025E adjusted operating margin.",
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      "text": "We believe Salesforce can be best-in-class among its Peer Group and operate at or above the Rule of 50.",
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      "text": "Salesforce Has Made Progress Improving Growth and Profitability",
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      "evidence": "Slides 6-7 provide evidence of Salesforce's potential for improvement",
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      "evidence": "Slides 4-6 present benchmarking data to highlight the gap between Salesforce and its peers",
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      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
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      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
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