Article at
http://www.fastcompany.com/blog/chris-dannen/techwatch/how-2009-will-spur-rebirth-cyber-squatting
An acquaintance of mine returned from service in Iraq in 2003 to convalesce from severe wounds. During his recovery, he got a hold of a laptop and an Internet connection and started buying up domain names, which usually cost only about $10 each. He started flipping them on online marketplaces, reinvesting the money in new domains, and leasing the best ones. Last year he made over $200,000 off his squatting, much of it garnered from long-term leases he holds with a few major companies. I'll leave him anonymous because of the NDAs he's signed with those companies, but as of this fall he has about 20,000 domain names in his possession, waiting to be bought or leased, sometimes for thousands per month.
http://www.fastcompany.com/blog/chris-dannen/techwatch/how-2009-will-spur-rebirth-cyber-squatting
An acquaintance of mine returned from service in Iraq in 2003 to convalesce from severe wounds. During his recovery, he got a hold of a laptop and an Internet connection and started buying up domain names, which usually cost only about $10 each. He started flipping them on online marketplaces, reinvesting the money in new domains, and leasing the best ones. Last year he made over $200,000 off his squatting, much of it garnered from long-term leases he holds with a few major companies. I'll leave him anonymous because of the NDAs he's signed with those companies, but as of this fall he has about 20,000 domain names in his possession, waiting to be bought or leased, sometimes for thousands per month.
