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Auerbach Weighs in for gTLD Lotteries
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"....where each new recruit is told that they must bring in some number N of new recruits in order to recieve the promised payoffs."
what do you call creating an accredited retail channel where each is told they are to sell the very same unique product? The registrar is an accredited recruit...then if they do not bring in N of new recruits (consumers in the case of register.com or re-sellers in the case of tucows), then they do not receive the payoffs from the accreditation. The fact that they can't bring in N has led to the accredited recruit to devise "new services" to attract N recruits (consistent with a pyramid scheme) in order to survive or meet desired payoffs. This is a stategy that is far different than offering the accredited recruit the ability to sell like-kind goods and services to attract N new recruits in a competitive environment and has in fact been an avenue that has been purposely avoided (consistent with a pyramid scheme in order to perpetuate it). The fact this is not entirely visible in the current economic sense is simply because one accredited recruit had 100% of all the recruits and the past few years have been spent divvying this up amongst the new accredited recruits. The group of new recruits within the scheme called consumers (that have never purchased a domain) must either participate with the scheme or not participate at all. The fact that N is choosing not to participate (at comparative growth rate vs 1999) has the accredited recruits going back to its current base of recruits to increase per capita. Since this was a successful strategy for obtaining N for many of the accredited recruits, the original accredited recruit is invested into a way to capture these N recruits for themselves.
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No need to apologize, and I think we are generally in agreement. I never stated that ICANN is running a pyramid scheme, only that it many ways it looks, feels, and smells like one, which I think is of itself undesirable. I do maintain that the speculative bubble has largely burst. I suspect that the registering of domain names in the hopes of resale has largely disappeared as there is now a relatively long history of lack of success in this endeavor amongst most who engaged in it. I have also written previously here and elsewhere regarding some of the supposed success stories (such as beauty.cc allegedly selling for $1million) which turned out to be scams. Indeed many of the most ballyhoed success stories turned out to be at least dishonest and at worst scams. What we now have is speculators going to WLS where it makes more sense to pay more than a registration fee for a pre-owned 1a2b3zzz.com if it has considerable traffic than to pay $7million for business.com (another scam) if it doesn't generate traffic. Thus does ICANN, some registries, and some registrars (and perhaps some resellers) keep its ship afloat. This new speculator bubble will also probably pop in good time. -g
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