There's an absolute certainty that anything the Spragues begin is pure guinness.
In fact, many of the ideas really are interesting ones. One expects many failures, even amongst ideas that sound good at inception. I don't fault the ideas themselves.
But funding them out of Wave's equity is just wrong.
If they have an electric car to fund, do it by some other means than Wave shareholders. Don't insult Wave investors with cute but vacuous explanations.
If they have a free video distribution service for use at the Olympics, find some video investor to fund it.
If they have a free scrambling service for social media, let some new set of investors fund that.
Also, if Spraguepa needs a source of funds for some wild, tangential idea or another, perhaps Spraguesons should fund it, rather than Wave's investors.
Why is Wave treated as an investment fund for the Sprague family? It's a public company, not a whimsyfund.
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