you, I, and others have tried to illuminate a distinction between a technology or packet of IP surviving and prospering and what impact it has on current shareholders in that technology or packet of IP.
I think the cult leaders, with their hundreds of thousands of shares, figure they will do o.k. even if/then of a serious meltdown, so they ignore the math, and don't dare consider the whole process of a reorganization and the pecking order of honored obligations (an order on which they stand at the very very very bottom, by law as I understand it, and sensibly so).
I've tried to make a hallmark of distinguishing company success and shareholder success for some time, but such efforts are by far not my most eloquent, the fact is other shiny objects distract my limited attention span. HhH made this case a long time ago, he broached the notion that all that the cult leaders say can happen may happen and they may be correct, and that it could happen WITHOUT them. Howie, as I recall, had been damaged by such an event in the past, a company that succeeded but left him holding kindling starter.
I think that is where Wave is going. I think the senior WAVX management does not see that (except Gilder, I think it has been his plan, I think he is a jaded, twisted, wicked, loser .... I'm just trying to be civil here, the only thing Gilder loathes more than humans in general is shareholders), Nolan couldn't give a fancy fug, life is a ride to him and I respect and appreciate that, Mac is dead (TMI bit: the freezer portion of my top/bottom fridg/freezer has been failing, it can't freeze, but it can keep things pretty cold, we keep dead animals there, we call it the morgue, Mac has a slot there, but he won't fit).
And these are the people the cult leaders are giving, uh, ... bob's got rules and he seems to be remarkably tolerant within a few very modest rules .... but generally a notion towards an unhealthy coupling of the oral fecal route.
As in my deleted content, I see no point in navigation at this point, the boat has just done hit the rocks, or the rocks are so certain as to make looking at them at all a waste of time. Sure, pretty topless sirens may appear, and in such a case I will stand mesmerized with the rest, but until then, nuff of this till Q1 numbers.
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D&O