Extending the available knowledge and education of the domain industry’s dynamics at an affordable price, is a winning combination, that serious domain investors should not let pass by. The location of choice – Las Vegas – provides a fun, central hub for conferences, to thousands of entrepreneurs and companies every year.
In this interview to DomainGang, Richard Lau describes his modus operandi for NamesCon 2014, detailing a few key points of this conference and how it will benefit domain investors.
DomainGang: Richard, what is your primary goal with NamesCon 2014 in Las Vegas?
Richard Lau: My primary goal is to bring Domain Investors, Registrars, Registries, Advertisers, and Suppliers together to create a networking, learning, and business environment that extends beyond traditional networks and that presents new opportunities and enables the formation of new relationships.
DG: Sounds very focused and clean, as it should be! Are domainers prohibited from making money in a smart manner, currently? What new options is NamesCon going to introduce to those attending?
RL: There is no shortage of money to be made in the domain industry, however it is my feeling that domainers, myself included, have allowed the market and technology to grow exponentially while not adjusting our business model.
This is a extremely dangerous mistake. It’s not as simple as “doing development” and can require an entire business model pivot. With NamesCon I hope to create new ideas and new opportunities by putting on display a variety of business models and ideas that have not traditionally had significant overlap or understand of one another.
DG: I agree, the domain industry isn’t shrinking, but our methods aren’t growing as fast. Is the domain investing industry going to expand with the introduction of gTLDs? Do you see many domainers reluctant to address the new gTLD reality?
RL: The arrival of gTLDs is bound to expand the domain industry. More names is a bigger industry. That being said, that doesn’t mean that some people’s business model won’t be negatively affected. Some almost certainly will. A lot of people are taking a wait and see attitude. By bringing domain investors and registrants together with the Registries and new TLD Applicants, we can facilitate discussion that should identify new opportunities for everyone.
Domainers need to educate themselves and carefully watch market trends over the coming months and year. Some small players will seize opportunities and jump up and some large players will stagnate. The normal cycle of business will continue, but new gTLDs will accelerate the pace of making winners and losers.
DG: It’s definitely an opportunity to diversify one’s portfolio and investment options, just like with stocks. This is a moment of change as far as domain conferences are concerned. What are the plans for the future and NamesCon?
RL: About NamesCon, it is my sincere hope that it will be referred to as a great event for everyone who attends and their business and thus worth repeating. I’ll be watching feedback closely. It’s vitally important to me to create an event that people really feel will have added value to their business after attending.
Beyond enjoying time in Las Vegas, beyond earning a profit, beyond even raising money for charity on WaterNight, NamesCon will need to add value to the attendees business, or it should not and cannot exist.
DG: Richard, thank you very much for this interview, and the detailed overview of NamesCon. Looking forward to seeing your plans materialize!
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