There is a great deal of "irrational exuberance" about Google Wave in the news right now given its current state (pre-beta). While prognostications on how it will derail existing solutions make for good press coverage, such statements should be viewed as part of the natural enthusiasm when something creative and innovative comes along. This is a ways off...
My skepticism concerns Google’s ability to execute over time (e.g., building in security and management capabilities) if they are serious about Wave being an enterprise solution. However, it is clearly a disruptive approach to current market players and one that entrenched vendors with large revenue streams to protect would never have undertaken.
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