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Just my opinion, but I actually would have reported this differently.

Firstly, Wave - the protocol - is still around; its an apache project: https://incubator.apache.org/wave/ So technically and actually anyone could create their own (free or for-pay) service/instance. There's nothing stopping a couple of kids (or senior employees disgruntled with their current enterprise employer) from scrapping together a new project/venture to start a new social network based on Wave, etc.

The platform didn't fail so much as Google let it die off (at least retired it from their infrastructure, retired it as a product they supported, etc.). As another person here has noted, google creates some cool tech. And, in this case, google either didn't know what to do with this cool tech., or felt they couldn't make money on it, or felt users couldn't adopt it, etc. Or, who knows, maybe it was a technology too far ahead of its time for google to really understand its potential. I myself thought it was a great idea.




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