The Man Who Owns the Internet: Kevin Ham's $300m Domain Empire [2007]
money.cnn.com
money.cnn.com
2. Even as lame as domain squatting is, I admire his genius for recognizing opportunity at the right time and betting big.
3. They are not locked into their current strategy. At some point he'll want in on the action that he's advertisers are getting. That's when he'll really make a killing.
Seriously, both domainers and content farms are absolutely trashing the internet today. It's a mess.
People will start to use a portal like Google or Bing to access the web. Rather than typing a domain name, many non-tech people I know just search for the company name.
Coupled with ICANNs plans to open gTLD registration up I think we will eventually see the focus move away from .com domains and the prices will start to fall. As the .com space becomes increasingly crowded and a wider range of gTLDs become available it will become more and more acceptable to exist in other TLDs so there will be less competition for .com domains.
You are 100% right about people googling services and companies, though. Hell, we know for a fact that people google Google or Yahoo or even Bing... As long as you don't pick a offensive name, most people don't seem to mind about the domain name or tld.
Obviously, the fortune will be partly transferred to search engines but they provide real values to the world, unlike the guys covered in the article. Search engines could use the money to better fight spam and research for more advanced technology (like IBM Watson) as well.
What he does barely benefits anyone but him.
Nevertheless he get's 10 points for execution, for exploring every loophole, for perfecting the system, but 0 points for the value he's creating with his "business".
http://kevinohashi.com/30/12/2010/exploring-three-letter-dom...
(See http://news.cnet.com/2100-1032-5077530.html)
I remember me and a friend rushed into their Oslo offices telling them exactly how we felt about that move... :)
Considering that the patent system is downright broken, I would'nt be surprised if he was granted one.