so it looks like scrambls was yet another tangential business bearing upfront costs and yielding no sign of actual demand in the marketplace.
i think there is a problem of arrogance in wave's operation. they do everything based on the supposition that they are visionaries capable of seeing what no one else sees. but apparently without the development partnerships which support the need.
it's all risk and little revenue. risk which they themselves avoid by passing the whole lot to a population of naive, trusting but non-technical investors.
after two decades of losses as a public company, i think it is time for a different presumption.
it all reminds me of gilder's essays. just arrogantly dismiss sensible arguments to the contrary. that's a consistent theme, if nothing else is.
but at the end of the day, where's the performance?
at some point in the failure cycle, one recognises that arrogance is simply a deficiency of character.
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