Not Drowning, Waving provide guitar. Their name is derived from Stevie Smith's poem "Not Waving but Drowning". Rowan McKinnon soon joined on bass guitar and they recorded "Moving Around" with a drum machine. Other atmospheric instrumentals were recorded at the LaTrobe University's music department's studio. "Moving Around" was released as their debut single in April 1984 on the Rampant Records label. While recording tracks for the debut album, "Another Pond", Bridie and Phillips joined McKinnon (also on guitar) in the ambient pop band, Easter, with Russel Bradley on drums and percussion, and Tim Cole on vocals. Cole became sound engineer and recording producer
Not Waving but Drowning after what she described as a difficult childhood and her struggle with the fact that her father abandoned her. Like many of Smith's poems, "Not Waving but Drowning" is short, consisting of only twelve lines. The narrative takes place from a third-person perspective and describes the circumstances surrounding the "dead man" described in line one. In line five the poem suggests that the man who has died "always loved larking," which causes his distress signals to be discounted. The image that Smith attached to the poem shows the form of a girl from the waist up with her wet hair