90% of domainers should start over

Discussion in 'Domain Industry News' started by equity78, May 17, 2017.

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  1. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Business Account VIP ★★★★★★★★★★

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    Rick Schwartz made a pretty interesting tweet yesterday that I think will bring about a great deal of conversation. Rick stated that 90% of all domain investors should look to reboot. Drop everything and start over again. 90% of every domainer should drop ALL their #Domains and start again! They are so far off the path that it is sad to see. #gtld #Startups — @Rick Schwartz[Read more...]
     
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  2. Nazz

    Nazz Active Member PRO VIP

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    The comments are a must read, LOL!
     
    Last edited: May 17, 2017
  3. hamiltondomain

    hamiltondomain Established Member

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    I had a read of the comments lol... I must admit I am pretty shocked at how incredibly unprofessional an "industry leading" figure can be... His responses were actually pretty embarrassing, I couldn't help but cringe, the kind you would expect from an Internet troll.
     
  4. JagG

    JagG Established Member ★★★★★★★★★★

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    Wow... #LostWithWords
     
  5. ValleyRock

    ValleyRock Sales and Outreach

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    Yeah, if you don't you may not move forward. I did this twice.

    Now I only buy domains that pass my stress tests.

    For the new entrants:

    • Don't overpay for a domain, there will be a cheaper one tommorow. Cash flow is everything in this business.
    • Domaining is very similar to two industries: the stock market and the real estate market. You want to study 'academically' concepts, principles and frameworks in these markets.
    Somebooks and scholarly papers you should read:
    1. The intelligent investor - Chapter 1, and the commentary. (basic principles) - Here you learn the difference between and investor vs speculator.
    2. Markets in profile - James Dalton
    3. Research papers on domains by Thies Lidenthal of Sedo
    4. Psychology of the stockmarket - Selden
    You need to develop a habit for research and reading. It has helped me the most and it is the best advise I can offer.
     
  6. Cryptghost

    Cryptghost Business Member Business Account NamePros Supporter

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  7. frank-germany

    frank-germany Business Member Business Account VIP

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    what a BS

    99% of the domains domainers own are unknown to R S
     
  8. shorterwinters

    shorterwinters Established Member

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    Didn't read the article and I will but my first thought is
    he sure got some buzz going didn't he.
     
  9. frank-germany

    frank-germany Business Member Business Account VIP

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    you fooled me

    this is what he tweeted:
    thats a completely different story
     
  10. frank-germany

    frank-germany Business Member Business Account VIP

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    ok here is the tweet :

    looks like he uses 90% in 90% of his tweets
     
  11. frank-germany

    frank-germany Business Member Business Account VIP

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    here are my favorite latest Ricks tweets :





     
  12. MapleDots

    MapleDots Established Member

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    HeHe.... unless he is using reverse psychology and he wants us to drop names so he can cherry pick them.
    Getting hard even for the king to find choice domains nowadays.

    Hey.... it works on my 10 year old!!

    I think he is pretty smart to be working this angle :wideyed: :wideyed: :wideyed:
     
    Last edited: May 18, 2017
  13. NameOmnia

    NameOmnia alea iacta est VIP

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    Rick Schwartz has a lot of spare time on his hands.
     
  14. KingslayerVR

    KingslayerVR Active Member VIP

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    It’s easy for someone like Rick to be on his high horse and say that, percentage may be slightly high, but i don’t really disagree with his point, there is a lot of sh*te about, but maybe he should take a look at some of his own recent registrations/even aftermarket buys.

    Are they fantastic registrations? Hidden gems? I would say not, much as i respect what Rick as done, i don’t think he could do what Ali as done (for example), start-out today with say a budget of $5,000 and make a name for himself in this industry.
     
  15. MapleDots

    MapleDots Established Member

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    Yes, it would be interesting to see how he would perform in today's market within a set budget working as an alias. I have a feeling he would still do very well because he obviously has all the experience necessary but I think it would be tough to replicate the heyday of domaining.
     
  16. Bros

    Bros Active Member VIP

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    90% is harsh, but he does have a point. Domaining has surprisingly long learning curve, and it seems that almost everyone who gets into it starts out by making the same mistakes (hand-regging domains that turn out to be pretty much worthless).
     
  17. CJ6

    CJ6 Green Leaf Names VIP

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    I am definitely guilty of registering some crappy names, primarily when they are on sale. But, registering 100 crappy names for $1 each, and selling a few for a total profit of $1500-$2000 makes it worth it.
    Yes, I will be dropping many domains this year. I urge everyone to do so (so that I can register some of the good ones that get dropped).
     
  18. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    sometimes, people look at others, as a "name" in the industry.

    is the goal to be a "name" too?

    and should the light of fame,

    shine on you,

    will you, be prepared...

    will you do, as others with "names" do?

    will you be true to you, before you got a "name"

    or will having a "name" be too much pressure, to sustain?

    cuz when you're at the top of the game, and...

    at the top of your game,

    you feel confident in yourself

    and to you.... it's not about the "name"

    sometimes, it's about from where i came

    when you didn't even know my "name".

    drops the m i c and walks off stage


    imo....
     
  19. DomainVP

    DomainVP Domain Expert Business Account VIP

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  20. Silentptnr

    Silentptnr PRYCR.COM Business Account VIP

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    I'll only add that Rick didn't know years ago how things would turn out. He continues to make educated bets every day. I have sold/dropped domains only to get offers later. Depends a lot on the budget.

    I will also add that selling a domain name for $1 is better than just dropping it. Even giving it away is better. Drops are fine, but if you can make $1 it's better.
     
  21. Want2learn

    Want2learn Business Member Business Account

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    It is difficult to argue with the sentiment that @Rick Schwartz shared. I think when folks come out just to troll gets old quickly. I know we all have our boiling point, maybe Rick had enough of the trolls. Here is the other thing that I think many people miss . . .when you are in the public eye, everything you say or do comes under scrutiny. Imagine we all posted something like this, I think that 90% of domainers or beginning domainers need a reset. 90% of their portfolios are probably not worth their reg fees. Now it is out there for the public to consume and criticize. Is it 90% that need a reset? I seriously doubt that he literally means 90% need a reset. It may be higher or lower:) But the principle regardless is there are some terrible portfolios. I know. I have over 100 domains I will not renew. And I just started December 2016. Yikes! So now I am working like a mad man to find homes and minimize losses!!

    The only thing I would say is ignoring trolls and taking the high road comes across much better. I know we all have our places of no return:) Say what you want about Rick, he has sustained success and he is one of the players that can move the needle! Nitpicking over tiny details in a tweet or post is a recipe for ungraciousness. If we had every move scrutinized, we might also have moments of frustration!
     
  22. bruhne

    bruhne Established Member

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    I agree with Rick to an extent. It’s easy to pick up garbage and think it will sell as gold. I have a lot of garbage names myself, and I can’t wait for them to drop. I really just want to delete them now, but that doesn’t make much sense when dealing with a numbers game. However, a reboot or mass shedding (deleting) would be very beneficial and refreshing to my psychology. Truth is, I’m somewhat of a minimalist, with the exception of cash and equivalents. I don’t like to own a lot, but what I do own is quality. That’s my style of living, and that’s what I’m working to make my portfolio reflect… I’m now working to only pick up names that I really really like and find attractive. If it’s good, but unappealing to me, it now has no place in my portfolio. I’m a collector, and I want to enjoy my gems unemcumbered by dirt. It’s gotta be beautiful.

    Furthermore, if people will shed their sh*t, the marketplace will be much more appealing. I’m tired of seeing platforms saturated with bs names at premium prices… If people would adhere to what Rick is implying (quality over quantity), which makes a portfolio a hypnotic attraction, then the marketplace would reflect such intention…

    If it doesn’t turn you on, don’t touch it.
     
  23. karmaco

    karmaco Established Member

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    He would likely grab our good names if we all started over. Not buying that theory.
     
  24. hawkeye

    hawkeye Top Member PRO VIP ★★★★★★★★★★

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    Personally I disagree with this. I put too much time and effort in researching the validity of regging a domain, that if it can't sell it for at least $20-$30 here on NP or somewhere, then I'll just drop it. If someone thinks it's worth them having it, they can pay the $60-70 drop fees to grab it then. (Just my views on this, others may digress.)
     
  25. 4pm

    4pm namejitsu™ VIP

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    the more crap is regged the higher prices quality names can command
    my every crap name lets your jewels shine brighter... so do yours... symbiosis

    ...and if you drop 90% your turnover rate would be 10% rather than 1%.
    is not that a good thing indeed?
     

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