My$Bgone: It is a great question you raise. Why indeed did GM, BP, PwC and all the others not renew with Wave?
Let's expand the question a bit to include all those pilots and demos, memos of understanding, trials, etc. There were dozens of companies involved--some of the biggest and best tech companies in the world.
Yet, after exposure to Wave's products, they turned away without buying. Why?
We will probably never get the full answer, but one can presume there were problems--either the Wave product did not work as claimed; it was hard to install and difficult to use; the price was not right, or the previous mgt was so offensive, the potential buyers elected to go in another direction.
The alleged techies saw nothing but clear sailing ahead and predicted near universal adaptation of Wave. The reality was just the opposite.
Wave depends largely on the TPM--and with more than a billion of them in the installed market--TPM usage still remains below the measurable threshold--a fraction of less than 1%.
Furthermore, now that the offensive CEO and his sales team have been replaced with professionals, there still are no sales nine months after Solms came aboard.
It seems to me, if the product was marketable at the right price--given the roiling of really big firms by increasing hacking of their data and customer info, Wave could and should sell itself--if the product performs as advertised.
There have been some long-winded explanations for the lack of sales like "6-month sales cycles," etc., but one would think the current atmosphere of one exploit after another, firms like RSA (a security outfit!) Wave would be up on the radar of CEOs, CTOs and COOs globally and they'd be buying with both hands.
Yet, somehow Wave continues as before-- no sales to speak of. Not a single revenue deal announced in way more than a year.
IMO there is something secret, dark and cancerous eating away at Wave's heart far from the eyes of the shareholders--something that fiercely repels sales.
Elsewhere, dozens of foaming dots are hauled up in the Void nets and displayed in all their irrelevance--not too different than before SKS was unmasked as a master scammer, liar and thief with no regard to shareholders despite his claims otherwise. These purported connections are all as tenuous and as well anchored to reality as drifting dust balls.
As you said, the lack of sales is the ultimate DD. If Wave had something going, other than wisps of far-future promises of if 96 heavenly bodies lined up in a formation never seen before, I suspect we would have seen at least some small deals by now.
My conclusion? Wave's products are completely unmarketable. Ex-Pat, a security professional--and others have called Wave's products "clunky" and crapware. Others have been even less kind. PC Mag: "Subpar suite at best."
After nearly 26 years in business without a profit, empirically Wave has proven it is a total failure.
The rich promises floated by some heavily-invested Wave holders are empty. So too are the exclamations of excellence by self-appointed techies who specialize in theories, rather than applications in real-world markets.
As Bill Parcells famously said, "You are what your record says you are."
It could change, but after a quarter of a century under three masters, Peter Sprague, Steven Sprague and now Bill Solms, the record shows Wave is a complete and total failure.
None of the futile and irrelevant arguments made by the supporters can change this record--only sales can. Isn't it time to quit listening to pretenders who believed the empty promises of the former CEO and start looking at the real reality about Wave?
Haven't Wave and the so-called leaders of the Wavoids disappointed us enough? Haven't those beliefs in the company and its heralders cost us all enough money? Yet, they are still pitching, still claiming success is within touching distance. And elsewhere they are still deleting criticism about the company--still trying to steer the debate and discussion to only the positive side, while the negatives light up the night sky.
IMO, Wave's success is like space's dark matter. It can not be seen or measured by any known device or detector. The difference is dark matter is real; Wave's success is as real as a flat earth.
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