Episode
#18 - The Big Business of Wacky Domains
57:04
Published: Wed Oct 16 2019
Description
Ever wonder who owns all the internet domains like .com, .co, all the way to goofy domain names like .george and .plumbing? Well it turns out, many of these are owned by billionaires & big companies. Our hero today - Sheel Mohnot (@pitdesi) created an online auction site (like Ebay, but instead of selling beanie babies, he auctions off internet real estate). He has hosted $100M+ worth of auctions, keeping a 4% cut for himself along the way. Hear how he found this wacky niche, got the auction platform off the ground - and how he went from living on $1/day in India to becoming a self-made millionaire. See acast.com/privacy for privacy and opt-out information.
Chapters
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00:00 - 02:16 (02:16)
Summary
CRM software allows teams to automate tasks, track customer information and deals, and ensure everyone has access to the same data. The system can save time and improve customer service.
Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
The speaker describes top level domains, which are the part after the dot in a website URL, and gives examples such as dot com or dot xxx for the porn industry.
02:16 - 05:13 (02:57)
Summary
The speaker describes top level domains, which are the part after the dot in a website URL, and gives examples such as dot com or dot xxx for the porn industry.
Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
The idea of every country having its own domain name was quickly adopted by businesses, who started using them for their own purposes.
05:13 - 07:13 (02:00)
Summary
The idea of every country having its own domain name was quickly adopted by businesses, who started using them for their own purposes. This led to the creation of words-only domain names like .app and the country still manages them.
Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
In this discussion, the speaker talks about a hypothetical auction scenario where he is willing to pay up to 10 million dollars for DotApp but expects the bidding to start at 600,000 dollars.
07:13 - 10:08 (02:54)
Summary
In this discussion, the speaker talks about a hypothetical auction scenario where he is willing to pay up to 10 million dollars for DotApp but expects the bidding to start at 600,000 dollars.
Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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10:08 - 13:26 (03:18)
Summary
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Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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13:26 - 15:30 (02:04)
Summary
The speaker shares how he managed to initiate a business by contacting people through LinkedIn, Facebook, and traveling to different places without knowing if the company would be successful or not.
Episode#18 - The Big Business of Wacky Domains
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Summary
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Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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19:12 - 23:31 (04:18)
Summary
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Episode#18 - The Big Business of Wacky Domains
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23:31 - 26:38 (03:07)
Summary
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Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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26:38 - 29:23 (02:44)
Summary
The first people to sell new domain names made a lot of money and then squatters started buying up names, but over time it has become a consistent money maker like an annuity.
Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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29:23 - 32:15 (02:51)
Summary
The speaker shares their experience of shopping in Southern China, where they encountered a huge number of vendors selling a variety of products, from pencils to eraser caps, and negotiated prices using a calculator due to language barriers.
Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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32:15 - 35:53 (03:37)
Summary
The speaker shares how sometimes the best opportunities are hidden and require taking a chance, citing examples from real estate and auction businesses.
Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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35:53 - 39:02 (03:09)
Summary
The speaker shares his experience starting a business with only a few thousand dollars and some help from his family, using unsophisticated methods like flyers to advertise its services, ultimately creating a successful venture called Fat Wallet.
Episode#18 - The Big Business of Wacky Domains
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39:02 - 42:00 (02:58)
Summary
The speaker discusses how their company uses Google trends data to make financial predictions, such as determining if a company will outperform in the upcoming quarter.
Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
The speaker shares about their experience with adventure and gives advice to choose adventure.
42:00 - 45:11 (03:10)
Summary
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Episode#18 - The Big Business of Wacky Domains
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45:11 - 49:19 (04:07)
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Episode#18 - The Big Business of Wacky Domains
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49:19 - 51:46 (02:26)
Summary
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Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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51:46 - 56:01 (04:14)
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Episode#18 - The Big Business of Wacky Domains
PodcastMy First Million
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