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07|02|2007 12:40 pm EDT

Young Domainers… Dressed in Overalls

by Richard Lau in Categories: Editorial

Domain Name News is once again proud to have another domain industry veteran joining us as a contributor. Richard Lau has generated millions in revenue in the domain industry and has a backgroud that includes former owner and creator of mydomain.com and the 2004 “Domainer of the Year” award. Richard also does consulting work with domain ownership history forensics and runs DomainManager.com – Adam

Boy in overallsRecently at the DomainFest Conference in Amsterdam I found myself hanging out with 9 domainers for a few hours. The amazing thing to me was that I was the oldest. The “Grey-Hair�. The Elder. All at the age of 37. When did that happen? Should I be having a mid-life crisis? Guys in their early 20’s buying domains for 7 figure sums. Guys in their teens flying from the West Coast of North America to attend the conference, and no, their parents weren’t paying.Am I jealous? Absolutely. I have no doubt that these youngsters will be worth tens and hundreds of millions of dollars, some will even hit the B. When I received the email announcing that Lawrence Ng had been named E&Y’s Entrepreneur of the Year for 2007, I didn’t blink an eye. When I first met Lawrence in 2002 I knew he would be wildly successful.

These young domainers aren’t complaining that they missed the 90’s when domains were low-hanging fruit, instead they are innovating and working hard to create value. I just talked with one young guy today who purchased a 2 letter dot com for 6 figures. He has created value – in Frank Schillings blog he says “Nobody gives the miners extra credit for time spent underground. If they could bring twenty years worth of coal up in one day they’d get paid for it.â€? Well, this young domainer has done just that.

By locating an undervalued domain, and convincing the current owner to sell it, he has created value in excess of hourly rates. He could easily see the cash reward for that value (and make a 50% return) by selling it at the next domain name auction. Or he could develop it out and hold out for a 200% to 500% ROI. I don’t think it would be appropriate to divulge how these guys initially created their capital pool, but they all have interesting stories and this quote from Mark Twain comes to mind: “Opportunity is missed by most people because it is dressed in overalls and looks like work.”

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2 Comments

Dan

July 2, 2007 @ 1:47 pm EDT

Hi,

I feel your pain…I am older than you…37 is a good age. But, these youg “whipper snappers” are just so far ahead at their age…its amazing sometimes…thats cool…youth rocks!.

Peace,
Dan

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“I found myself hanging out with 9 domainers for a few hours. The amazing thing to me was that I was the oldest. The “Grey-Hair”. The Elder. All at the age of 37. When did that happen? Should I be having a mid-life crisis? Guys in their early 20’s buying domains for 7 figure sums. Guys in their teens flying from the West Coast of North America to attend the conference, and no, their parents weren’t paying.Am I jealous? Absolutely. I have no doubt that these youngsters will be worth tens and hundreds of millions of dollars, some will even hit the B.”

[…] Lau, domain geezer, alluded to this topic in his recent post. I had already written this post before his, as I had previously run across this article a week or […]

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