hi lc,
i think the sensible presumption is wave cannot sell products at the rate it costs to build them in the first place. hence the mountainous deficit.
so if we can be bothered to see if something changes, we wait. but honestly, i no longer think the opportunity is worth the effort of research. far more sensible to let wave build its opportunity and report its progress than to seek to front run the income.
until the doughnut hole that followed the expansion, i always assumed wave was run by people who were pursuing a big idea as sensibly as they could - but the demand was elusive. since then, i am afraid i have lost confidence in their abilities.
there's always going to be another shiny thing. but in the end, free cash flow is the actual measure of a worthwhile enterprise. wave has to demonstrate it if it wishes to be taken seriously.
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