{
  "docId": "019f6b8f-4754-74a5-8284-96ac60575004",
  "docSlug": "jarvis-oasis-stratus-presentation-march-2021",
  "documentTitle": "Oasis Stratus Presentation March 2021",
  "authorId": "oasis-stratus-presentation-march-2021",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2021-03-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 12,
  "pageCount": 76,
  "prevPage": 11,
  "nextPage": 13,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "Uses a checklist format to define the playbook, followed by two columns of specific historical evidence (quotes from SEC filings) to prove the pattern.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-4754-74a5-8284-96ac60575004/12",
  "deckHref": "/decks/019f6b8f-4754-74a5-8284-96ac60575004",
  "deckJsonHref": "/decks/019f6b8f-4754-74a5-8284-96ac60575004.json",
  "deckAnchorHref": "/decks/019f6b8f-4754-74a5-8284-96ac60575004#slide-12",
  "components": [
    {
      "bbox": {
        "h": 0.6,
        "w": 0.28,
        "x": 0.05,
        "y": 0.28
      },
      "kind": "framework",
      "text": "Anti-Activist Playbook Checklist",
      "attrs": null,
      "subkind": "instance",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "61cb8dc4-730e-402b-9fc3-a9fbfc1da947",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.26,
        "x": 0.06,
        "y": 0.35
      },
      "kind": "list",
      "text": "Put in / amend poison pill; Claim that activist is advocating for a fire sale of assets; Claim that activist's motivations differ from other shareholders; Claim that activist's proposals will derail Stratus' supposedly superior strategy; Discredit activist's Director nominees",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f19902fc-eb17-4ce8-9878-03ed5e162014",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.1,
        "x": 0.22,
        "y": 0.96
      },
      "kind": "other",
      "text": "Source: Public filings",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9193ee68-f246-4012-9dcd-3b1274ba9a0e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.9,
        "x": 0.05,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "In the past, Stratus has responded to activist pressure by relying on the same defenses and insisting that its own strategy was superior to that of activists for creating shareholder value. Do not be fooled.",
      "attrs": null,
      "subkind": "description",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "61361d21-5ff6-446f-bda9-15dbfe9224e7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.3,
        "x": 0.35,
        "y": 0.28
      },
      "kind": "table",
      "text": "Carl Berg 2015-2016 evidence column",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "57390102-0717-41f5-aeb8-cb85146c6ce4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.3,
        "x": 0.66,
        "y": 0.28
      },
      "kind": "table",
      "text": "Oasis 2020-2021 evidence column",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5910ee0d-85af-4b46-ad5e-6226748dd390",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "Stratus Has Relied on a Trite Activist Defense Playbook",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2fd19c5b-c6a3-4ddb-9007-b8e5b628b938",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Thesis: Activist defense (for management)",
      "slug": "activist-defense",
      "agent": "storyteller",
      "layer": "slide",
      "matchId": "7ea79894-d628-409a-b14e-de2982a95324",
      "evidence": "Stratus Has Relied on a Trite Activist Defense Playbook",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "activist-defense",
      "slug": null,
      "matchId": "3a429d2d-1fe0-4476-955e-6783469a98e4",
      "evidence": "The slide explicitly labels the content as an 'Anti-Activist Playbook Checklist' and demonstrates how the company uses these tactics repeatedly.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 13,
      "from": 12,
      "beatId": "af7f071c-d792-4d34-81d2-804bddfe038d",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "The deck exposes contradictions in Stratus' claims and actions",
      "position": 1,
      "confidence": 0.9,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}