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pizza.com Sold For $2.6m
f8d noted a beeb bit on the fact that the pizza.com domain name was sold for a ridiculous 2.6m bucks. Can there be a bubble and a recession at the same time, or do the two cancel each other out like Penn & Teller?
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That was a STEAL. Just think of the marketing budget of any of the standard delivery places (Pizza Hut, Papa Johns, etc). This is not even a blip on that radar. I just hope it was a pizza place. God help us all if it was a porn company.
Buying a ton of domain names on the cheap in the mid 90's would have been a sound investment.
If it isn't a pizza company, I say we abandon domain names and go back to numeric addressing.
These stories are free but worth money.
I've PERSONALLY been so hungry I couldn't make it to google, typing "pizza" directly into the URL bar AT LEAST 50,000 times, spending $20+ dollars each time. If there's a couple of more people out there like me, they've already broken even.
First, America is going through a recession because of our debt, combined with our realizing that we have overspent. OTH, Europe, japan, canada, etc are all picking up speed while the dollar continues to plummet due to our federal and trade deficits. Hopefully, the next president will be responsible.
Second, the net remains one of the best places to lower your costs. Far cheaper than having a building and ppl. 2.6M? That is nothing.
I prefer the "u" in honour as it seems to be missing these days.
A major pizza maker will spend more than that on TV advertising every month. It's nothing in the big scheme of things.
No sig today...
To those who are talking about how 2.6 mil is nothing to a pizza chain I ask: How are you going to get the public aware of the fact that pizza.com even exists? Personally, if I wanted pizza I'd type dominospizza.com or pizzahut.com as a first guess at anything pizza related online. Even as a computer literate person I can draw from experience that most generic domain names are link farms and still not go to pizza.com. Maybe the pizza stores have to advertise their new site on tv for another 2..... oh wait
... the domain transfer took more than 30 mins, so it was free.
If only their was a homophone for pizza.
A recession and a bubble at the same time? Of course. When oil and bank corps, and the people who own & run them are bathing in record profits (above the records set every year for the past decade and a half, above the records set every year except maybe one or two of every twenty for the past few centuries), but literally millions of people are getting their homes foreclosed, millions more are always 6 weeks paychecks from losing their homes, income has shrunk over the past 25 years while prices have doubled, tripled or more (especially oil/gas prices and bank fees)...
Of course there's a recession and a bubble possible. Where do you think that bubble money comes from? And do you think that when it pops, everyone loses their shirt? Or maybe the rich people who run the country (*cough* Bear Stearns *cough*) will never see any real risk, while the poor are as free as the rich to sleep under a bridge.
The biggest lie about "the economy" is that it's "the" economy. There are separate economies for the rich and everyone else, shunted and fed back into each other separately. Except the rich economy has a siphon into the other economy.
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make install -not war
People who cant spel don't care that they can't spell. Ridiculing them is a waste of time, first, because they don't care, and second, because they can't tell that you're mis-spelling stuff.
Don't piss off The Angry Economist
If it makes you feel any better, FTFA: "Mr Clark registered the domain name in 1994..."
I was discussing this at lunch yesterday with some coworkers, and most of us thought it was an incredible waste of money. How many people do you know that when they want something, they open up their browser and just type what they want plus .com right into the address bar? Only complete fools do that and I'm honestly sure that population subset is very small and made up of old people.
One guy was defending their position rather well though, he basically said that whenever you do non-internet advertising, such as on television or the radio, having a very simple URL is a necessity for having people remember it for later on.
Reviewing just the first hour of video games.
Can their be a bubble and a recession at the same time, or do the two cancel each other out like Penn & Teller?
Of course there can, and that's exactly what is happening. There is too much venture capital out there and few good places to invest it. There is a recession because oil and other commodities have cut into corporate profits and a bubble because billions of VC funding is available, due to GWB's tax cuts for the rich.
Reagan's trickle-down policies caused a simiilar bubble (in derivatives) in 1987, A decade later, more easy Fed money caused Venture Capitalists to invest in high-tech stocks, causing the famous dot-com bubble and bust.
A recession is when lots of poor and middle class people lose their jobs; a bubble is when a few VCs all decide to put their money in the same place at the same time, driving up prices but not value or production.Which is what's happening now.
Why is 2.6M for one of the most recognized words in the English (and other) languages ridiculous?
Dominos Pizza Market Cap: $843,000,000
Papa John's Market Cap: $725,000,000
Pizza Hut 2007 Sales: $26,000,000