I love Wave and used it a bit.
It was close to ideal for real time collaboration, and project organization. I used it for group travel planning. But it had a lack of focus, or easily explainable goal, as has been pointed out.
It should have released with automatic email notification of Wave updates (rather than being a hard to add applet that came later). Wave was also a bit glitchy, and had a limited array of applets with little documentation on how to find or use them.
I don't think they ever finished the Wave that allowed you to make configuration changes to your Wave account. That was just stupid.
Unfortunately Google didn't unleash appropriate resources, or stick with it long enough, to get Wave to change the world. But they will be using the same great technologies in future more narrowly targeted products.
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