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Hindsight Is 20/20

Posted on 08 December 2013 by Andrei

How many times have you heard this expression?

Probably a lot.

It’s one of those expressions that is repeated ad nauseam, so much in fact that most people consider it void of content. It’s not and especially as a domainer, you have to understand that.

Pretty much all domainers, at one point or another, ended up saying something along the lines of “I wish I was there back in 1996″ and by saying this, it’s as if they think simply being there would have been enough.

Wrong!

The situation is far more complicated than that.

Out of all people who “were there” back in let’s say 1996, only a ridiculously small fraction actually ended up taking action, only a few of them started to build a portfolio.

You have to understand that things weren’t as obvious as they are today.

All of the people who “were there” had to put food on the table. Some of them had jobs, some of them had existing businesses and so on.

At that point, domains were an unproven concept.

Therefore, most people didn’t invest anywhere near as much time/energy/capital as they would have invested if they would have known what would happen in the future.

Some did, that’s true.

But again, we’re talking about a ridiculously small percentage.

Do you know what the easiest way to lose your sanity is? Constantly losing sleep over the things you could or should have done differently.

Don’t. Just don’t!

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6 Comments For This Post

  1. MarkH Says:

    “I wish I was there back in 1996″

    I am sure in 2030 I will be saying “I wish I was there back in 2013″ lol…

  2. Big Earl Says:

    Hi Andrei,

    Nice post, but it doesn’t always need to be hindsight that is 20/20. Foresight can be 20/20 too. For example, I think it is obvious that the gtlds will be a total disaster and, ultimately, fizzle out leaving thousands of online business in a serious lurch. I think it is so obvious that a blind man can see it with his eyes closed.

    Yes, we may not all have been on the domain scene in 1996, but there are determining events that are occurring in our active trading period that similarly offer us the opportunity to advance our beloved domaining.

    I remember when .CC (Coco Islands) was going to be “it”. It wasn’t. Then it was .TV (Tuvalu) and .ME (Montenegro). I remember when .EU (European Union) came out and it was going to be huge. So was .RU (Russia). Still waiting. .CO (Columbia) was to be the next .COM. Yeah, didn’t quite work out that way; and, I just finished dumping the last of mine a few months ago. Once upon a time, .WS (Western Samoa) was promoted as standing for “Website” and was going to be a sure hit. Don’t hold your breath.

    Perhaps all of your readers weren’t involved in domains long enough to remember the complete failures of .mobi, .aero, .museum, .travel, .cat, .jobs, .name, .tel, .pro, .info and .coop, but you can easily APPLY that knowledge towards a gtld concept you now face and say, “hey, this is the same old crap, re-gifted in new Chrismas wrapping paper!”.

    Most of your readers should have been around to see the rise and fall of .XXX and the aborted multi-million dollar attempts of Overstock, GoDaddy and others to promote .CO (Columbia) as a shortfut. Yeah, that was a CCtld, but the same phenomenon is going to kick in once again, traffic leakage, consumer confusion, radio test failures and all.

    People only want .COM. What part of that sentence does ICANN and gtld sponsors not understand?

    20/20 is not reserved for hindsight. It is alive and well going forward too. All you need to do is pay a little bit of attention.

  3. Andrei Says:

    @MarkH: I agree 100% and mention this frequently on DomainingTips, domains are in my opinion ridiculously undervalued; there’s no time to complain about the past when we have so much to look forward to :)

  4. Andrei Says:

    @Big Earl: I agree there’s no way new gTLDs will surpass dot coms but the thing is, I’m convinced even the registry operators feel the same way.

    That being said, there are always opportunities if you make the right choices. For example, even if dot me will never be as popular as dot com, I’m sure the people who bought and ultimately sold meet.me are quite pleased.

    What I’m trying to say is that a new gTLD doesn’t have to beat dot com to be considered successful. There are always opportunities if you know how to spot them.

  5. Big Earl Says:

    Hi Andrei,

    In response to your reply, I just went to Meet.Me and found it hilarious that it simply forwards to MeetMe.Com!

    I rest my case.

    The facts are simple. Gtlds are reserved for those who didn’t pay attention. The others will clearly see (with 20/20 vision) that gtlds are all guaranteed to fail.

  6. Andrei Says:

    @Big Earl: I understand your arguments and again, actually agree with them. If you make the “dot com vs new gTLDs” comparison and judge new gTLDs strictly from that perspective then yes, all of them will fail.

    What I tried to explain is that a new gTLD doesn’t have to be in the same league as dot com to be successful. It doesn’t. For a registry operator, all that matters is seeing that your business is profitable. For a domainer, all that matters is obtaining good sales.

    The people behind a new gTLD that’s very profitable for the registry won’t care that they’re not in the same league as dot com. As far as they’re concerned, the new gTLD in question is anything but a failure.

    The same way, domainers who make a sale such as the Meet.me one don’t care whether or not the TLD in question is in the same league as dot com. As far as they’re concerned, their investment decision was anything but flawed.

    What it all boils down to is this: there are always opportunities if you know how to spot them and while I agree 100% that dot com will always be the star by far, that doesn’t mean other opportunities should be disregarded.

 
 
         
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