Koog: Excellent advice, great post. Not only was Wave's technology and tools complete crap, but the chief salesman was an arrogant, ignorant slob, hard to like--even in small doses.
I have heard from three insiders who personally witnessed Steven blowing done deals by strange behavior and sudden ultimatums issued to big tech co. reps.
I revealed in a series of posts how Steven queered the very first Intel inquiries into Wave by his aggressive behavior resulting in Intel having almost no further contact for more than 5 years.
This info was pooh-poohed by the Grand Loopie-Groupie Pooh-bahs, even though the source was impeccable. Of course they knocked it down--accurate info indicating incompetence and perhaps some psychopathy thrown in, contradicted their made-up claims of Steven's "genius."
Interesting isn't it, some of the 'leaders' assisting in the creation and maintenance of the Wave Fairy Tale of Riches for All, claimed on the boards they lost "huge" amounts. Strange isn't it, one of these leaders bought a new car after the Wave collapse.
Shareholders, IMO, you were had in grand fashion by a family skilled in intimating wealth and wisdom, but to whom careful examination of lawsuit records reveals a pattern of self-dealing, rich promises and lots of BS filagreed throughout everything else.
As if that wasn't enough--Poseurs pretending to create something out of nothing--you were also had by a number of your own kind, after a fashion.
They claimed to be just like you, only they had real inside info. It was amazing. And, untrue. But you fell for it every time. These were your leaders, leading you astray every time. After each of the many Wave stumbles and bumbles, they were there to reassure you those apparent messes were not what they appeared, or if they were, they were irrelevant to Wave's eventual success.
So, shareholders got caught in a pincer movement. The Wave execs lied their toes off and the cult leaders verified it. Most shareholders spent their entire time in the stock believing the big breakthrough was coming any day--right up and through the last reverse split and the final bankruptcy. They believed to the end!
And in the meantime, when nothing was happening except the fall of the share price, or yet another reverse split, the Loop Group always got some prized 'intelligence' of a big breakthrough to come right at that precise down-low moment.
You doubled down on that 'info' because it came directly from Steven or Peter, via the Loop Group. Had to be true.
Only problem was, the info was never true. Never, not once. But the cult leaders had answers for that too. What difference does a little time make when you are soon going to be as wealthy as Warren Buffet next quarter? Don't look at the share price, think of how you will spend all that money coming your way.
Yes, the Wave execs lied repeatedly and the cult leaders held your hands and told you not to worry, not important--just wait for the big turnaround. The critics are know-nothings 'trying to pry shares out of strong hands.' We'll filter your info about Wave for you, too. No need to listen to those nattering nabobs of negativism*.
Shareholders never had a chance. Once the smell of money was in the water, the sharks schooled up for the feeding frenzy. Half a billion bucks reduced to chum and fishbones on the bottom after 26 years of parasitic infestation and predatory bloodsucking. R.I.P.
Blue
*said by Spiro Agnew, Republican VP USA, just before he was charged with bribery and corruption for taking $5,000/wk pay-offs in the White House and resigned in shame.
