NameSilo

Domain Microfinance Program

Labeled as discuss in General Domain Discussion started by Rob Monster, Sep 19, 2019.

Replies:
242
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10,859

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What do you think of the idea of a grant and microfinance program?

  1. Brilliant idea - Go for it!

    52 vote(s)
    42.3%
  2. Good idea but you are in for a tough run

    19 vote(s)
    15.4%
  3. Long shot but it just might work

    22 vote(s)
    17.9%
  4. You are going to lose your butt on this one

    30 vote(s)
    24.4%
Total: 123 vote(s)
  1. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    We have leads on training materials. We are good there. I bet we have that part of the supply chain solved within a week from now. @Braden Pollock is helping there. No need to invent. Easier to assemble.

    I do believe NamePros will play a huge role in terms of creating a support community for new domain investors and sharing knowledge as well as enforcing standards of professionalism.

    On that note, I am pleased to announce that we added @Abdullah Abdullah to the team today, based in Yemen and native of Somalia. He will be full-time at Epik from Monday and I believe will play a role here.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    I started my domaining in 2008 exactly from ~$30 and my thoughts were about MACROfinance... )
     
  3. JB Lions

    JB Lions Top Member VIP

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    Is he resigning as mod?
     
  4. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    There is a case study right there. If you will write it up, or video a testimonial, that is the type of story we need for this site. "How I got started?".
     
  5. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    :) Is that your first reaction? Pity. Maybe congratulate the man first. He just got married too and now he got a pay raise for a job he can do from his home with his new wife.
     
  6. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    As motivational as that might be, but some of the ways that people have used in the past might not be replicable due to scarcity or not acceptable any more due to TM or Spam regulations and guidelines.

    In my opinion it might be best to show them how to get started in today's market by concentrating their efforts on selling from the donated domain pool and then once they get a little more skillful to get into drops, brandables, or even hand registering new technology and trends. IMO
     
    Last edited: Sep 21, 2019
  7. JB Lions

    JB Lions Top Member VIP

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    Yeah, I would feel that way across the board. I wouldn't want GoDaddy employees to be mods here either, conflict of interest. In the affiliate marketing forums, we didn't let affiliate network employees become mods. When we had an affiliate manager as a mod, it was an issue for other affiliate managers.

    As far this, it will be interesting to watch. Seems full steam ahead, without any actual long term thinking.

    Short version, if I have this right.

    $30 to people who are broke, in poverty, where English isn't their native language, in a business where:

    $30 isn't enough money usually

    high failure rate

    hand regs or other domainer's leftovers, names they want to drop, will be even harder to sell, than let's say an aftermarket pickup

    most names will probably never get an offer, or could take years

    You don't think this will end up just frustrating those who probably already have enough frustration in their lives?

    Open an office, hire them, give them an actual job if you want to help. This is a disaster in the making.
     
  8. MrAcidic

    MrAcidic Account Auto-Closed Gold Account

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    Sorry but these questions are bullsh*t - anyone with 1/2 a brain can fake the answers to these questions

    15 - 20 min reading online and anyone can become a knowledgeable basket case.....you add in multiple people possibly working together to work out the best answers then you are going to have a serious potential fraud problem....

    If this is a grant type of scenario then you are giving someone money if they meet certain criteria and adhere to some kind of framework, this can easily be manipulated.

    I presume you will be keeping it all in house? Money is in the form of Epik Credit, name has to be registered at Epik? Is this just for new regs? Or will they be able to buy names via Godady Expired, Dropcatch etc etc

    I mean if it is in house you minimise the fraud risk but take away free market principals and vice versa...

    Regarding donating names, I would presume that the names being donated will not be the best quality and it will be like throwing sh*t at the wall, something will stick eventually.....giving people a false sense of hope/expectation
     
  9. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Thanks @JB Lions.

    As you know, I listen to all my critics. Let's see how it plays out. I was looking for some input on the intake questionnaire just in case you wanted to apply your ample intellect.

    As for @Abdullah Abdullah, for the record he approached me earlier today:

    upload_2019-9-21_14-23-21.png

    We did one WhatsApp call, and I hired him on the spot. The notion that he is a NP mod was never a hiring criteria as I knew that would be at-risk the moment @JB Lions got wind of his new job. :)
     
  10. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Thanks for the input.

    Do you have any specific thoughts on weed-out questions to "out" the opportunists? Obviously we are not interested in being gamed.

    As for registrar, yes, it could be at Epik but if we could get other registrars to co-sponsor the program, the user could select a registrar for deploying the funds. Fair point, especially about expiry stream.

    As for the Horatio Alger story of rags to riches, well, you heard one success story already just today and we did even go asking for that one. Great story here if you missed it.
     
  11. garptrader

    garptrader Top Member VIP ★★★★★★★★★★

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    One must admit that acquiring quality inventory is very competitive yet the vast majority of the world does not place much importance on the value of a domain name. Most domain buyers despite spending thousands of dollars on all kinds of routine business expenses (legal, IT, marketing, travel, accounting, etc) have a domain budget of $xx. What percentage of domain investors made a middle-class income their first year of domaining? it is my view that any effort to want to spread technological awareness and skills to less developed economies should focus on website development and design skills which are valued more broadly than aftermarket domains.
     
  12. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    I think you are looking at this through western eyes.

    If you make $250 a MONTH in many countries, you ARE middle class.

    Wrap your head around that.
     
  13. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    If this program is designed and implemented correctly with the genuine goal of helping those who are disadvantaged, then perhaps we should all give it a chance.

    Although sometimes I get second thoughts as to whether it's a good idea to turn "honest, smart, motivated , and productive people" into Domainers. D-:

    Although given the lack of opportunity in those places any help is better than nothing. IMO
     
    Last edited: Sep 21, 2019
  14. JB Lions

    JB Lions Top Member VIP

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    Wrap your head around my last post, you didn't touch any of the specifics.

    This part:

    This makes sense to you? There is no logic in it. I really don't think you're thinking these things all the way thru.

    You tackle the points brought up in my post. Earlier I think you tried to tie me and others thinking this was not going to work as not caring about people. It's a truly ridiculous sympathy play on your part. I'm for things that make sense, this doesn't.

    I already know how this is going to turn out. It'll be interesting to watch. There are much better ways to help people out.
     
    Last edited: Sep 21, 2019
  15. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    We get your position:

    - You think the idea sucks.
    - You think Abdullah is a fool to work on it.
    - You have no specific input on the intake questionnaire.

    About right? Just checking.
     
  16. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    Can you name some of those ways that the Domain Community and Industry can help the disadvantage.
     
  17. JB Lions

    JB Lions Top Member VIP

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    I think my posts are pretty clear. I think it's also pretty clear you're going to go ahead without addressing actual issues brought up by me and many others. These are things you're supposed to have figured out first.
     
    Last edited: Sep 21, 2019
  18. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    I am co-creating. I promise I have read all your posts. I am trying to distill the actionable take-aways but will re-read asap.
     
  19. MrAcidic

    MrAcidic Account Auto-Closed Gold Account

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    @Rob Monster

    It is a good idea and I hope it works out........

    Do you have any specific thoughts on weed-out questions to "out" the opportunists? Obviously we are not interested in being gamed.

    This is the problem, how do you weed them out? I would suggest looking through Grant application forms (small business grants springs to mind) and seeing what type of question they have and go from there

    As for registrar, yes, it could be at Epik but if we could get other registrars to co-sponsor the program, the user could select a registrar for deploying the funds. Fair point, especially about expiry stream.

    Personally I would focus on getting your own house in order and proving the concept works before reaching out to other registries. You can control the process much more efficiently and easily implement safeguarding procedures

    As for the Horatio Alger story of rags to riches, well, you heard one success story already just today and we did even go asking for that one. Great story here if you missed it

    I am not disputing the above, you need to be careful that you do not become the rag to someone else's riches
     
  20. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    I know you have been giving Epik credit rewards for pointing out bugs with the system or for giving suggestions for names for your new projects, perhaps you can also give an award to those who come up with the best ideas and ways to implement your new projects, that might get you more input, specially if you set a higher award for ideas that you are actually going to use.
     
  21. DU

    DU Secret Santa VIP ★★★★★★★★★★

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    It's a modern phenomenon that people think that a lack of funds is the only barrier to success.
    A few pennies and a dream and the world is yours!

    Micro-financing and similar programs have been around for a while and they don't work.

    This is a form of Western Noblesse-oblige within a capitalist system. It doesn't make sense.

    There are much better ways to help people out.
     
    Last edited: Sep 21, 2019
  22. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    We do it informally already. The Digital Empowerment grants will probably add some fuel to that practice of incentivizing co-creation. We can't help everyone, but we'll do our bit.
     
  23. jberryhill

    jberryhill Top Member John Berryhill, Ph.d., Esq. VIP ★★★★★★★★★★

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  24. Xabial

    Xabial Established Member

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    Bless you, Rob from down here in New Jersey.
     
    Last edited: Sep 21, 2019
  25. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    @DU is certainly a hardened and determined skeptic. :)

    As for the Microfinance story, the best known case study is Grameen. I think it did a lot of good. I think they could have used more technology to scale it, but I would still call it a success story:

    https://www.scribd.com/doc/27271539/Grameen-Bank-a-Case-Study

    There are many case studies about it and I certainly hope we can draw upon any experience folks have there. @Abdullah Abdullah was mostly working with UN refugee programs in Yemen.

    Also, Rajkumar Prasad, aka @ERaj, is a person with a lot of experience working with aid agencies and government ministries. He is Epik's GM in India, working on the Indian subcontinent.

    So, yes, I do think free market capitalism can work to lift some folks up. That's the game plan. If f folks want to contribute, they can.

    The name search is also in progress for what I call the "Goodwill of Domains".

    https://www.namepros.com/threads/the-goodwill-of-domains.1155109
     

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