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To me that's what IRC is for. You need a structure in Wave to make it useful as a realtime wiki. That's what etherpad is for and people then copy and paste the content into a wiki page later(etherpad is not good for continuous editing FYI so you should never edit the same Etherpad every day. It's a great way for realtime collaboration but ephemeral. You can also use Google Docs too).

Google Wave was actually inspired by EtherPad and Google ended up purchasing AppJet so that they could have the EtherPad engineers work on Wave.

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