Yes, that is also true. But the fact that progress is such a grind makes a negative read more plausible. And i think some of the arguments are ingenious. I remember a poster called trance, who, in a non-poisonous interlude, said that changing the status quo was almost insurmountable. I learnt from that and have absorbed it as a central part of my own thinking. The folks who think it is just a simple question of presenting a new architecture drive me nuts. Change is hard.
For myself I have no doubt that Wave's team is sincere in pursuing its goal. This isn't a scam. But they are richly compensated relative to results and that smacks of a sense of entitlement. And they are addressing a problem that is extraordinarily hard while not levelling with shareholders about it. Instead they sow hope wherever they can and this, in my view, is one reason why when investors turn against the company, they do so with a huge sense of embitterment.
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