that's why i call it the unsafe harbour. it clearly doesn't work as a form of disclosure in a company with aspirations and small revenues. it becomes a means to keep folks hopeful when every other indicator suggests things aren't going well.
a pipeline isn't a gaap measure! it's not a bad idea to count the money when it arrives and not before. it's not a bad idea to presume the continuation of your experience unless the company actually rebuts the presumption, rather than vice versa. it's a good idea to avoid the risks the management and board avoid for themselves.
whether wave's unsafe harbour is fraudulent is beyond my capacity. but that it has been a misleading source of information is blindingly obvious.
the funny thing is how quickly the folks who expressed themselves cured of management pipeline predictions ended up dependent upon them again. the absence of sales is something you can also count and which also has a meaning.
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