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  "documentTitle": "Bakkt | SPAC Presentation Deck | 34 slides",
  "authorId": "bakkt",
  "authorName": "Bakkt",
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  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2021-01-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 30,
  "pageCount": 34,
  "prevPage": 29,
  "nextPage": 31,
  "slideType": "use_of_funds",
  "function": "plan_implementation",
  "density": "dense",
  "nDataPoints": 30,
  "notes": "The slide outlines a shift from high marketing spend to personnel-focused investment over the 5-year period.",
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  "slideHref": "/slides/019de510-4769-7582-a8d9-21e9d3967e7a/30",
  "deckHref": "/decks/019de510-4769-7582-a8d9-21e9d3967e7a",
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  "deckAnchorHref": "/decks/019de510-4769-7582-a8d9-21e9d3967e7a#slide-30",
  "components": [
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      "text": "Investment focused on data & analytics capabilities, engineering personnel and sales & marketing to drive growth. Ability to flex variable cost structure. Significant operating leverage. No additional investment anticipated to achieve positive cash flow, expected in 2023. Cost structure advantage, leverage ICE relationship and significant infrastructure investments to-date.",
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      "text": "Note: Projections assume a January 1, 2021 transaction closing date and related funding for execution of growth strategy. There may be decimal differences due to rounding. (1) Personnel expense includes capitalized software development costs and executive compensation (both cash and non-cash), with the exception of an incentive equity grant to the incoming CEO, which is being finalized. (2) Other includes professional fees, technology, occupancy, merchant processing fees, business insurance, risk and compliance services, intercompany charges - ICE, and other operating costs.",
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      "kind": "table",
      "text": "Projected Operating Expenses table showing Personnel, Marketing, Technology, D&A, and Other costs from 2021E to 2025E.",
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      "kind": "title",
      "text": "Investment Plan",
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  "loops": [
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      "from": 30,
      "name": "Quick Win Big Bet",
      "slug": "47-quick-win-big-bet",
      "bestFor": "Transformation planning, 100-day plans, resource allocation",
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      "evidence": "The document presents the quick win big bet loop on pages 30-33, highlighting the investment plan and growth opportunities.",
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