Basically, I am interested in the answer to one question. There is an obvious logjam in selling Wave's services to enterprise customers. Equally obviously, this results from the fact that many of the benefits of a trust network only accrue once it is deployed broadly. Classic network effects problems. Chickens and eggs etc. This, in turn, leads to sticker shock and upfront resistance on the demand side. Being a slow/late adopter makes a lot of sense to customers. Taking the risk and insuring against loss has appeared to work for them.
So ....
What is Wave thinking in terms of trying to fix this problem?
First - identify and acknowledge the issue rather than pretend it doesn't exist - the imaginary pipeline has to go.
Second, it should organise its thinking around thoughtful responses to the issue. Some of what Wave is doing is responsive. But some maybe needs a rethink, as the company has adopted the same general big ticket approach for years.
Ye gods, it is frustrating listening to the same old build-it-and-they-will-come line. The stock price tells you Wave has little credibility. I think this is partly because it doesn't face its issues. It pretends they don't exist. Just like many of Wave's investors.
If you close your eyes and cross your fingers, the issue doesn't vanish.
| 