Commodity? Not on your life.
At least initially, Wave is a service company, similar to Visa or Mastercard. Going back to the parking meter analogy (from awhile ago), Wave will collect all of the quarters from the parking meters across the world and split out the revenues to the cities (OEMs), the parking lot owners (Content Providers) and take a slice out for performing the service.
Sure, initially Wave will be installing the parking meters (Embassy chips). But, that's not Wave's long term plan. Ultimately, Wave wants other entrepreneurs to install their own parking meters incorporating Wave's technology. Eventually, once enough entrepreneurs are producing their own meters, Wave becomes a true service company. Now, if parking lots seem to be a hot item, Wave might stimulate demand by building extravagant shopping malls and amusement parks across the world.
Hope this helps,
---Slate |
