Parts one and two of my Intuitive Surgical Deep Dive added up to a lot of reading.
Eight pillars, eight “BAMs,” each with its own attempt to invert the argument, the company history that starts with DARPA-funded battlefield research, a competitive landscape that shifted twice this summer, a management review, and a valuation model with margin assumptions and a granular breakdown of the drivers of topline growth.
Not everyone has an evening to spare for that.
So I condensed the whole analysis into a 19-slide companion deck. It follows the same logic as the written series. It opens with the hypothesis and the four developments that would prove it wrong, walks through how the company got here, how the business makes money, gives each of the eight pillars its own slide, and then covers competitive positioning, the customer, growth drivers, and valuation.
Here's one slide to give you a sense of how the argument gets compressed:
A quick note on my latest process: This is the first deck I built with Claude Design as opposed to building it with the regular Claude model (I should test 5.5 next, I guess), and the difference for me was the ease of editing. Instead of regenerating the whole thing every time something was off, I could make fine-tuned changes to the first draft slide by slide, adjusting a chart here, fixing overlapping items there, and tightening a headline until each slide looked like what I wanted it to.
I’m still unsure which model’s output I like better, though.
Companion slide decks are just one of many perks that come with a subscription.
As a member, you get:
Complete Access: Every deep dive in our library (65+ and counting). The most thorough analyses you will be able to get your hands on (including downloadable models).
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Slide Decks: Every deep dive now comes with a companion slide deck. It’s the whole argument in compressed form – the hypothesis, the business, the competitive position, the valuation, and the case against – for the days when you don’t have an hour to spare but still want the shape of the thing. Paid subscribers get both, the long piece and the deck.
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To get a feel for the quality of these decks, check out the companion deck I shared along with my Amadeus deep dive (you can find it here).
As a remnder, from now on every deep dive now comes with a companion slide deck. The whole hypothesis in compressed form – the thesis, the business, the competitive position, the valuation, and the case against – for the days when you don't have an hour to spare but still want a quick glance at it. Paid subscribers get both, always: the long written analyses and the decks, for every deep dive.
