Very early on, I registered dick.com. The way I'd make money was essentially renting the website out and linking it to someone selling a product, then I'd earn a commission.
Porno.com was probably my most successful deal. I bought it for $42,000 in 1995. We were getting 33,000 unique visitors a day — that's a million a month — just from people searching for it directly. A guy bought the traffic from it exclusively for five years at $1.5 million a year.
Read MoreOriginally, I planned to never sell a domain for 20 years, because that's how long I thought it'd take for the internet to reach its potential. Why would I want to sell diamonds before anyone knows how valuable a diamond is?...