The Longest Now


The .Org Fire Sale: How it sold for less than half its valuation
Monday December 02nd 2019, 12:13 am
Filed under: %a la mod,fly-by-wire,international,meta

Part 2 in a series.  (See also Part 1: The Great Dot Org Heist.)
Updates: Moz letter, El Reg, registry agreement, ISOC forumletter, Wyden

Ethos Capital seems on track to complete their takeover of .org early next year.  ICANN claims it is powerless to stop the acquisition. ISOC president Andrew Sullivan suggested nothing but a court order would make ISOC change their minds. (If the sale concerns you, you can write to the Virginia state DA, who has to approve the sale via the Orphans Court.)

There are still many unanswered questions. Sullivan’s presentation of the offer to the ISOC Board highlighted a need for speed and secrecy. Details were redacted from the board minutes, and have been released grudgingly. Only last Friday did the price of the acquisition ($1.1B) finally emerge, which ISOC insists is a good price (or was before the price caps were lifted), but which most consider well below the market value of .org. (For reference, here’s PIR’s 990 and annual report:  $90M revenue, $60M gross margin, 77% renewal rate).

Sullivan shared some conflicting thoughts in an interview with The Register: he thinks not many people care about the sale; public pushback has been strong; the sale would not have happened if there had been public discussion.

Mozilla has compiled Questions about .org into a public letter, asking both ISOC and ICANN to answer them before concluding this sale.

Measuring the worth of a legacy registry

While there is a range of estimates out there for the true value of .org, the sale price is on the low end under conservative assumptions.  (more…)



Trump’s tee-totalling: why are so many meetings held on the golf course?
Sunday December 01st 2019, 6:17 pm
Filed under: %a la mod,chain-gang,citation needed,fly-by-wire,international

It is time we stop talking about “golf time” as leisure time away from the presidency, and start treating it as a primary channel for meetings, negotiations, and decision-making. (See for instance the last line of this remarkable story.)

Trump’s presidential schedule is full of empty days and golf weekends – roughly two days a week have been spent on his own resorts, throughout his presidency. Combined with his historically light work schedule, averaging under two hours of meetings per day, the majority of small-group meetings may be taking place at his resorts.

He has also directed hundreds of government groups, and countless diplomatic partners and allies, to stay at his resorts and properties.

On his properties, his private staff control the access list, security videos and other records.  They are also able to provide privacy from both press and government representatives that no federal property could match.

How might we address the issues involved with more clarity?

Paying himself with government funds

To start with, this is self-dealing on an astronomical scale: the 300+ days spent at his golf clubs and other properties have cost the US government, by conservative estimate, $110 million. The cost of encouraging the entire government to stay at Trump properties is greater still, if harder to estimate. (more…)




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