"Sullivan suggested that their goal is to return roughly the same annual revenue as they have been getting from PIR — around $50M. Of course this time it would

"Sullivan suggested that their goal is to return roughly the same annual revenue as they have been getting from PIR — around $50M. Of course this time it would come without the possibility of expanding the underlying business year by year." This hurts my head. Needless to say, the returns on this fund will be _far_ less assured than the returns on simply maintaining the .org business as it was (especially with Goldman managing the fund). Impressively, even ISOC comes out a loser from this deal. Only Ethos wins, but then, that was surely the point.