rick, good point. My analogy was definitely not one of apples to apples, but my general point was that companies can take a long time to incubate and may require lots of patience and imagination from the investors. It's hard to know if venture capitalists would have cut enough slack for Wave to have reached the point where it is today, but I agree with you that they would have exercised more control over spending and would probably have limited the number of directions Wave could have pursued. One benefit they would have had is psychological since they would not have been subjected to years of a shop worn share price. They would have only envisioned the potential share price upon success.
The fact that Wave investors have somehow maintained their shared vision with the company in the face of longterm underperformance of the stock says something about our belief in the technology and the role it can potentially play to make all our e- centric lives more trustworthy and secure. We should soon start learning whether our patience and vision was foolish or prescient.
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