iacta est,
you're missing a few points. Without TPMs and SEDs, Wave's business model is only theory. They represent a necessary condition for Wave to do business. They represent a chance.
The business use case potential this hardware is receiving massive votes of confidence by key players. Without strong business use cases, you would not see industry wide adoption of costly new hardware. While it seems like no big deal today, 10 years ago it seemed close to impossible.
In most cases supply will be met if there is demand. In this case, supply is necessary condition for demand. Does it guarantee demand? No, but it is a precondition.
Wave misunderstood the challenges they would face with a new product introduction. Chalk it up to lack of experience or different skill sets. Unfortunately for Wave, they likely have faced TPM saturation issues (only 30% of my network has TPMS), new product issues (How do I know this is better), limited product availability issues (SEDs/Opal drives) and a host of other hurdles they were likely ill-prepared to overcome.
If you have ever sold to a business, you understand all businesses are fully equipped today. Selling is not easy. Sometimes it requires brute force. Sometimes it requires incredible connections. Sometimes it requires undeniable value propositions. I have both sold to and purchased business services. People are busy and no one wants to buy anything…everyone needs convincing.
The TPM and SED business are in their infancy. Many investors happened to start following the business when Wave went on its first date. First they had to get lucky in every sense of the word. This may seem drawn out, but unfortunately it is a normal business cycle. Wave was hyped before they got lucky and before the industry they were going to sell into was even born.
Many are talking of a funeral while life has just begun. This is an incredible opportunity. Success is not guaranteed. Wave is positioned incredibly well and has an opportunity to flourish. Demand will not come with the industry in infancy. Wave has to create demand. Wave has to use brute force, connections and undeniable value propositions. In infancy, selling will be hard. Every deal is an accomplishment. As awareness builds and industry adapts, new selling challenges will emerge other than awareness. Business is never easy and requires constant adaptation. Having the right people in place to meet the new challenges that await are key to Wave’s success.
It’s funny how you speak of dreams dying when I see Wave’s opportunity growing and becoming more realistic with every new TPM deployed. Success is never guaranteed. &%it happens. It will take a ton of effort and some luck along the way, but the dream is alive and well.
By NO MEANS am I comparing Wave to Apple…different industries, different circumstances different everything. However, one person’s incredible effort forever changed that company and that industry. One bob instead of a weave and that story looks completely different. The point is you never know and some luck is required.
I have no idea why Sprague was let go. I mean, I have ideas, but none that have been validated. Until then, I am curious to find out what the new guy has to say. Wave’s future is now very tied to his vision, his leadership and his ability to execute. I believe the next conference call will be very enlightening one way or another.
