I stumbled upon this while I was looking for animated gifs of this fight.
This is a pretty good analysis of what Thiago did wrong from a striker's perspective in MMA.
I noticed Story's movement while I was watching the fight and it was quite frustrating to see how that worked against Thiago. Such as the way he walked Thiago back so effortlessly.
The analysis explains a difference between Thiago's movement and that of Chuck Liddell and Lyoto Machida, two other successful strikers with good takedown defense.