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> So what's the problem, isn't this a legitimate business? On its face, yes - but it is value-destructive as hell. Generally speaking, the vast bulk of economic
by mam2 6y ago
> So what's the problem, isn't this a legitimate business? On its face, yes - but it is value-destructive as hell. Generally speaking, the vast bulk of economic activity is value-creating.
Ehh.. how is it different from buying land ? Theres a limited ressource and it has a value.. of course some people are going to buy it.
You should be happy the whole concept of "renting" a domain name doesn't exist yet.
- mutatio 6y agoI'm pretty sure "renting" a domain does exist - or at least it did years ago.
- ChrisMarshallNY 6y agoYup. In fact, about a decade ago, I “brought” a domain from a squatter, only to have them refuse to turn over full authority. Apparently, I was just “leasing” it. There was no contract; just a simple payment. I started raising a stink. They made some attempts at barratry, I said “bring it on,” so they rather sourly tossed me the keys, and told me to get out. The idea is that you “lease” a domain to someone, who imbues it with value, and becomes dependent on it, then you raise the price on lease end. If they had actually spent a few dollars, getting a lawyer to draft a contract, I would have been screwed.
- mcv 6y agoMaybe you're right. Maybe buying land only to sit on it, deny others its use, and speculate on selling it at a profit, is just as destructive as this. In fact, some cities have laws against people doing exactly that with houses. And for good reason.
- strken 6y agoBuying land and then renting it out without improving it is the literal origin of the term rent-seeking, and is generally less well-regarded than running a business that actually produces something.