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On the topic of scams, has anyone ever discovered what ICANN did with the enormous amount of money it raised by selling these TLDs at a premium?

I recall .blog being purchased by Automattic for 15-20M (that being just 1 example).

ICANN is to tech what the SEC is to finance: A corporate revolving-door where you join to do your corporate-masters bidding and then move back to your 7-figure job.

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Can you substantiate that a bit more?

Is that even how it works in the SEC?

That how the conspiracy-minded assume it works because it fits their world view better, but there's little evidence to support it. Insightful finance journalist (and former investment banker) Matt Levine often suggests that the revolving-door incentives are the reverse: Create tough and complicated regulations while you work at the SEC so that a big bank will have to hire you to help navigate those regulations.

Some examples where he has written about this issue: https://news.ycombinator.com/item?id=11545117

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