{
  "docId": "019f6b8f-6a7b-7439-a2d1-f1c88e2f670d",
  "docSlug": "jarvis-starboard-value-wix-presentation-october-2022",
  "documentTitle": "Starboard Value Wix Presentation October 2022",
  "authorId": "starboard-value-wix-presentation-october-2022",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-10-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 57,
  "pageCount": 65,
  "prevPage": 56,
  "nextPage": 58,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 16,
  "notes": "Uses the 'Rule of 40' framework (here referred to as 'Rule of 50' for the peer group).",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d/57",
  "deckHref": "/decks/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d",
  "deckJsonHref": "/decks/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d.json",
  "deckAnchorHref": "/decks/019f6b8f-6a7b-7439-a2d1-f1c88e2f670d#slide-57",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.2,
        "x": 0.74,
        "y": 0.21
      },
      "kind": "callout",
      "text": "The Peer Group operates at the \"Rule of 50\"",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5bf0af65-0dd0-4109-8c57-4206a6786b3b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.92,
        "x": 0.04,
        "y": 0.2
      },
      "kind": "chart",
      "text": "CY2022E Revenue Growth + Adj. Operating Margin vs. Peers",
      "attrs": null,
      "subkind": "bar-stacked",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "380386c3-9a69-4b36-bbe8-cbea93129a3d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.15,
        "x": 0.75,
        "y": 0.22
      },
      "kind": "framework",
      "text": "Rule of 50",
      "attrs": null,
      "subkind": "instance",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0e818218-f593-479c-a925-b4d6d0bcf222",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.94
      },
      "kind": "other",
      "text": "Source: Capital IQ, Bloomberg. Market data as of October 14, 2022.",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "250e6b2e-fac3-4221-afb2-85bedc750627",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.7,
        "x": 0.04,
        "y": 0.15
      },
      "kind": "subtitle",
      "text": "As growth has slowed, the Company has not yet produced margins expected from its leadership position.",
      "attrs": null,
      "subkind": "description",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e5188367-cdd9-4ede-89da-7fd36e6f456c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.88
      },
      "kind": "title",
      "text": "Salesforce operates significantly below peer levels in terms of revenue growth + profitability",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7ec51580-6296-4423-89d2-3c129367e2ef",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "We Believe the Valuation Discount Is Largely the Result of Salesforce's Subpar Mix of Growth and Profitability",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "21ac2542-aa3a-4957-ac4e-fcc1bcf328fd",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "rule-of-40",
      "slug": null,
      "matchId": "70d8208f-a1fa-4ed8-b390-61543a0f8463",
      "evidence": "The chart explicitly compares revenue growth and operating margins as a combined metric, referencing the 'Rule of 50' for the peer group.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 64,
      "from": 19,
      "beatId": "d0aac4aa-f911-4562-96b8-bc225a9cfcda",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "The document presents Starboard Value's solution and approach to improve growth and profitability in Wix, Splunk, and Salesforce.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}