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Originally Posted by L@@K
Domains are diamonds.
Domainers are minors, wasting their time to dig everywhere. But Big Money is in shop, in jewellery, after working on stone, it becomes a diamond. Big money is in development, not in selling. Moreover, you keep your capital.
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Just a few thoughts on this from Rick Schwartz blog, maybe a bit of a parallel for IDNs:
QUOTE: I hear all the time….”Rick, why don’t you develop your domain names into websites?” Ok fair question and I have a good answer as it relates to MY LIFE and what “I” want and what “I” see. Let’s rewind to 1996. I have about 120 domain names. I had a choice, build now or wait for others to make colossal mistakes and learn from them before I pissed away my limited resources. But an even bigger reason for me is that I ABSOLUTELY KNEW that a website that may cost $750,000 to construct in 1996 would be a $75 template in 2006. A template $749,925 less expensive and a template FAR superior to that of that era. So I saw no SENSE OF URGENCY to develop.
What I did see was a “Unique opportunity in time” that would NEVER pass again. So one much smarter group than me chose a much more sophisticated way to climb the same mountain. I on the other hand with no staff, no talents other than cut and paste, had to figure a way to compete with folks that had unlimited funds and staffs of 200. I am no cybersquatter and most folks in the industry are not cybersquatters either! I am a smart businessman just like many of my counterparts that figured out that the way others were doing it put things in the wrong order.
I decided that securing the LAND for the development in the future TRUMPED developing one website. Looking back, that was one hell of a great decision on my part and a HUGE mistake for many of them. Not all, but certainly most. If they had a chance to do it again, I bet they would focus on getting domain names.
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