Apparently this is what happens when you try to apply standard...

Apparently this is what happens when you try to apply standard financial analysis to a spec: you turn into a raving loon (his shouting should tell everyone all they need to know).

The error lies in not distinguishing different kinds of specs. We see it on here a lot, where someone will say "it's just an idea until there is a customer". This has some truth to it when we do a financial analysis, but it is not what a full audit would include, and doesn't take into account the various stages that the "idea" goes through. From "idea" to "dollar income" there are about 4 or 5 identifiable stages. WBT is at the last.

Imagine yelling at the window of local cafe that is going to open next week that "it's just an idea man, you haven't made any money yet", and you'll get a sense of how most reasonable business people would respond to this kind of thing.