Astonishing...nothing less than Astonishing!
Morning Folks!!
This week that began with Labor Day here in the United States let me take a
moment to say something.
What we as an Industry have done is NOTHING
LESS THAN ASTONISHING!! After 13 years of being underestimated, belittled, under
appreciated, under understood and folks refusing to give our industry its' just
due I want to say one thing. SCREW THEM!
They got it WRONG. They were
blind to the single biggest opportunity in the history of mankind. The most
productive set of circumstances available to each and every person like nothing
in history and they missed it and for that they call us names?? SCREW THEM!
We still lack the respect that our TRAFFIC contains let alone the value
of the land itself. I have watched EVERYONE in the universe under value our
assets. SCREW THEM!
This industry is not $1 billion. It is not $10
billion. It is not $100 billion. It is PRICELESS. It is appreciating too fast
too measure. It has values hidden like vaults in a cave, still yet to be
discovered. I have listened to whoever and they all got it wrong. SCREW THEM.
I remember DREAMING how one day I would walk thru Times Square and see
nothing but dot com billboards. A DREAM. A silly and wild dream. A dream until
September 2000. I went to Times Square and tears ran down my cheeks because all
I saw was dot com billboards. EVERY one was a dot com. EVERY one. Few saw what
it is we do. SCREW THEM!
I have another dream. Maybe already a reality.
The day that domains have more value than all the real estate in Manhattan.
Folly they yell. Foolish they scream. Ridiculous they clamor. Condescendingly
they argue with you. Accusatory in their tone. Mean in their spirit. But through
all that, they are wrong. SCREW THEM
The Value of domains has little if
anything to do with earnings. Now it may be common practice to to sell a domain
for 5x or 10x but I have never bought into that nonsense and I have stated it
numerous times on the record. That was a Venture Capitalist formula that had
nothing to do with the real value of a domain name that many domainers swallowed
hook, line and sinker. The very least a domain should be sold for IF you are
going to base it on "Today's revenue" is the lifetime earnings of that domain
name. That means if you are 35 and you figure you will live to 85, then 50x is
your number before you even begin to negotiate. When a buyer can't get to that
point....SCREW THEM!
Point is, stop listening to "THEM" whoever "Them" is at the
moment. They got it wrong. WE got it right. Don't listen to THEM! SCREW THEM!
And the reason that Labor Day plays into this is because we labor to
produce more jobs and pay more taxes and to do what we were brought up to do. We
could have dug ditches. Instead we used our minds as our parents and teachers
wanted us to do. If folks can't appreciate that.....SCREW THEM!
Have a
GREAT day!!
Great to see you back posting again Rick! You are the only one that actually speaks the truth about the industry and where we are at present! You are right they dont and still havent grasped the concept of internet marketing and the power of the dot com and the traffic we grow on a daily basis. Earnings from our domains are at an all time low - So if people are ignorant enough to sell these key assets based on revenue models that is ridiculous. Why do I say that becuase revenue is Low but Traffic is growing! CTR in most cases are the same if not they are generally increasing! We are just not getting the same cash because businesses arent spending the same way they did 3 months ago never mind 3 years ago! Screw those that dont listen! Thats why you and the ones that listen are the front of the industry and everyone is at the back way back! Rob
Posted by: Robbie Ferguson | September 06, 2008 at 04:26 PM
Well said Rick! good to see you posting again. Regards, Ritz
Posted by: belshass | September 06, 2008 at 04:29 PM
Come on Rick. Be a nice boy.
Posted by: Asia SEO Guru | September 06, 2008 at 04:42 PM
Waiting for this post for a long time!
one word "Bravo!!!"
Sorry missed meeting you at Orlando Traffic.
Cheers
Posted by: Frank Rudner | September 06, 2008 at 08:47 PM
Man, that got me pumped up. I wish I could confidently beat my fists against the walls of ignorance like Rick can.
That was cathartic, to say the least. Rick, was this written after a good dinner and a few drinks? Were you listening to Hendrix or Led Zep?
I love it.
Posted by: Successclick | September 07, 2008 at 05:18 AM
If you are right it can only be good for those like yourself with large portfolios of domains!
Posted by: DoctorTwisted | September 07, 2008 at 06:41 AM
When Rick speaks, I listen.
Always have and always will.
Thanks Rick.
Posted by: Rob Sequin | September 07, 2008 at 09:53 AM
Hmmm... Sounds alot like the old,
"I'm mad as hell, and I'm not going to take it anymore!"
And I'm right there with you on this.
Posted by: T-Sax | September 07, 2008 at 05:41 PM
Enjoyed reading this post and all good sense of humor! there's gold in domains!
Posted by: web developer | September 08, 2008 at 02:44 AM
Nice post there Rick.
You are a person of Principal - tell the truth and stand behind it.
Good luck
Posted by: Damir | September 11, 2008 at 02:26 PM
SCREW THEM!
Posted by: Shlomi Khutoretsky | October 23, 2008 at 10:30 AM