Comments on: Bernie Madoff Lessons for the Domain Name Industry

By: Patrick McDermott

Patrick McDermott — Fri, 13 Mar 2009 03:39:10 +0000

Actually I meant to say LLLL.coms but same is true for LLLLL.

By: Patrick McDermott

Patrick McDermott — Fri, 13 Mar 2009 03:37:57 +0000

“…they tend to pile into something like lemmings.”

And so do many domainers.

You saw it with LLLLL.coms that are now dropping like flies after the bug spray
was set off.

You saw it with .MOBI after Rick Schwartz bought Flowers.mobi for $200K.

You’re starting to see it now with CCTLDs.
Yes you might make lots of $ with them but you better know the language and know what you’re dong.

By: Lda

Lda — Thu, 12 Mar 2009 23:56:14 +0000

> Do your own due diligence ….

Those who did their due diligence and got out of the Bernie Madoff scheme because they ‘smelled a rat’ are apparently those MOST likely to lose their profit stash in the 6-year clawback. Apparently you’re more likely to hold onto the withdrawn funds if you were blissfully ignorant of the dangers.

Message for domains ? … you tell me.

By: hennie meijer

hennie meijer — Thu, 12 Mar 2009 14:52:09 +0000

So who trusts the Icann to keep an eye on the registrars? You should not trust the skills and capabilities of these “supervisors” is a more important lesson. The danger is that because these supervisors say they check them, you think that they are ok.

Try to diversify.Do not put all domains/transactions/business with “your best registrar” but spread your risk over “your best 3-5 registrars” and forget about all the bulk discounts/ease of use when you stick to just one of them. Same for anything, spreading your risks is tiresome/more costly but your best chance of not being”wiped out” in one shot. it is very difficult to do as some companies seem so superior to the second and third best in their field.