YouSaid · the spoken record

Andrew Rosener

lines on the record: 182
first: 2023-12-20
most recent: 2023-12-20
sittings or episodes: 1
sources: podcast

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“So I guess the way that I think about it is that I generally want to be content. I don't necessarily pursue happiness. I pursue contentment.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“MediaOptions.com.com. And we've got domain Sherpa.com, which is our podcast that's about domain names. I don't suggest it unless you want to learn about domain names and hear us.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“No, no, no. I actually recently just sold it MO.co. For exactly the same reason I explained. I bought it when.co kind of launched into the public sphere. It was always the extension for Columbia, but then it got sort of repurposed like.ai did.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Addresses to some extent. Today, I think that it could get messy. So you have to be careful. But it's funny, the Ethereum nameservice guys actually are the ones that figured out how to do this. So they kind of shot themselves in the foot. But you can now take a dot-com domain name or a.xyz domain name or a.NET domain name and you can use the DNS, the legacy DNS settings. And you can literally make your domain name a wallet. And so that to me is that's obvious where we're going to go.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Any browser to resolve these things. Okay, so you've got some fringe browsers that do resolve them, but I think it's something like 98% of all internet traffic passes through four browsers, right? It's like Firefox, Safari, Chrome, and Explorer, which, you know, is probably a very small market share at these days. But that's like basically all the traffic. And I can promise you, I would put virtually everything I have on the fact that those browsers are never going to resolve a Web3 domain name ever. primarily for those reasons and other surrounding reasons like that, the inability to ever censor content, as well as the fact that they then lose control to sniff every packet of data that passes through the internet. And so that's never going to happen. It's not going to happen. There may be some parallel, like we've got the dark web now, but this is never going to be a mainstream thing ever. But I do think they make great wallet.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“If presented with two choices of this, here's the internet you know and love, here's this totally decentralized new internet that has all these fancy bells and whistles that you should love, except that there's this one flaw. And that flaw is somebody can put child porn and there's nobody that can ever take it down. And on that singular point is when I made up my mind that that will never happen. The Department of Defense, which owns the Department of Commerce, which controls the internet. A lot of people don't know that is never, ever, ever, ever going to allow.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Way too much. That's never going to happen. And so for that reason, it's never going to resolve. The second thing is that with decentralization, I think decentralized money is great. I think decentralized information is dangerous. And it comes down to one very simple thing that I find most people can understand. If you go to the average person and you say, look, there's this one internet over here and it's centralized to a certain degree and people can shut you down and da da da. But it's kind of good enough. It's the internet you know and love. We got this fancy new internet over here where it's totally decentralized. And believe me, I'm a libertarian. I'm kind of a decentralization maximalist, but I've drawn a line in the sand here for the following reason.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“But depending on which wallet I'm using, which wallet software I'm using, I don't know if that's going to the Ethereum blockchain, is that going to the handshake blockchain? Is that going to the unstoppable? Which blockchain is that on? And so I could send it to tim.wallet and it could go to a different tim.wallet. Okay. And I have nothing I can do about that unless I've got some degree of...”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Totally, but even if they're not bad actors, there's just going to be a tremendous amount of confusion, confusion, because you say, hey, send me Anith to Tim.wallet.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“But over the next five years, every blockchain that exists is going to have their own domain name service because it's a very easy money grab.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Exactly. That's not the thing you want to mess up, right? Like it's one thing to go to the wrong website. It's an entirely other thing to be sending money to the wrong wallet. But that's actually makes the point. That's one of the big Achilles heels of Web3 domains is that there's no standard. I mentioned before ICANN governs the legacy DNS, the root zone. If you have an unstoppable domain, you've got Tim Ferris. They have the.x. They've got.wallet. They've got.whatever. So let's say you've got timferris. or tim.wallet and you tell me hey send me one eth i can send you one eth to tim.wallet because today there's only one dot wallet but there's absolutely nothing stopping me from starting a new business tomorrow that also has dot wallet or from the ethereum name service from launching a dot wallet or there is somebody on handshake that already has dot wallet and there's going to be every single blockchain you're going to see that already in this cycle”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“In it, obviously. And so I have failed to identify a durable use case for Web3 domain names. I think they're cute. I think they have some utility, certainly in its simplest form. They make good wallets. I don't see a durable utility beyond that. It's definitely better to have tim.eth or tim.whatever, Web3 domain name and have that instead of your Ethereum address, which would be some very long hexadecimal string impossible for most humans to remember.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“DNS records, without going too deep into the weeds, you can use the DNS records to Basically, insert your crypto address, your Bitcoin address, or your Ethereum address into the DNS records of your domain name, and then people can send, you know, I've got Drew.com. I can use that as my Bitcoin wallet. And I think that first feature of why I believe there's this huge growth curve coming for domain names. First is identity, KYC. Second is finance and wallets, specifically wallets, because again, it's the same problem. Yes, you can use some of these Web3 domains, these.eth. And I was one of the first investors into unstoppable domains. I was literally probably in the first 50 people ever in 2015 to register a thousand.ETH domains before anybody even knew what these things were. I was a huge early adopter of Handshake. And there's going to be a lot of people that get upset with me. They try not to poo-poo too much. But I do spend a tremendous amount of time thinking about these things. And I'm very deep.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Going to tell you a timeline, but I think that it's in some future, most people in the first world that are engaging with the internet on a regular basis are going to have at least two and in some cases three domains. They're going to have their real identity domain name. And that's going to be less important the more public facing you are, the more pressure there will be to have the dot com. But outside of that, any extension will do. And then there's going to be your pseudonymous identity, in which case you really don't care what the extension is. And then there's going to be your sort of commercial identity, whether that's the business you own, the blog you run, but you're going to have at least two. And if you have, let's say you've planted a flag on the internet in one form or another through a blog, a business, whatever it might be, that's your third domain name. I think most people are going to have two or three domain names. Already today, you can use a dot-com domain name and you can use it as a crypto wallet. You can use the”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Exactly. So across the board, from every aspect that you can think of, from financial to social media to e-commerce, people interacting with the internet should be identified by a domain name because it is a really powerful way to identify somebody. It ties the physical to the digital world. It's that bridge. What do you think?”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Domain names are, in my opinion, there is a lot of unknowns with AI. I'm not smart enough to think all of that through. There may be a threat on the horizon that I don't see for sure, and I accept that. But in my opinion, there is more reason to believe that domain names are about to pop off in a major way because of a couple of things. One is identity and how important it's going to be to be able to verify real identity. And I think that domain names, and I think that like Jack Dorsey is on this, Jack Dorsey understands this. I mean, he's building around this. Domain names are central to everything that he's doing. So your domain name is ultimately like, shouldn't it make sense that in order to get your Twitter handle, your X handle, you should have the corresponding domain name. If you're, I don't know, NBC, you should have x.com slash NBC.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Done. But again, that addresses the SEO and the competition game. But wherever it's buying that thing from, they still need a domain name.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“I think it'll tremendously affect the SEO game. And I think it will tremendously affect the formula for how to value a domain. But I don't think that it's going to tremendously impact the fact that we continue to need them. In fact, I think there's an argument to be made that they become even more important. Your domain name needs to be semantically meaningful. It needs to be easy to spell. You can't use these cute spellings where you're missing a vowel or you're on a dot LY or, you know, because people are going to say, take me to Amazon or buy this thing if you're using an agent. It's like, you know, order me whatever it is. But you need to tell it where to order that thing. And so it becomes even more important to have a really semantically meaningful domain name. That's my belief. As for Google, there's no way it doesn't cut into that ad business, right? It just, there's no way. Ultimately, you're going to see some cannibalization.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“The internet. If we were to stop launching new companies today or putting out new ideas on the internet, because, oh, you can just use ChatGPT or BARD for that. First off, I would love to see the data, but I bet you, like, same as 80% of the people sign the digital signature thing with a dick, 99% of the people using ChatGPT are using it for some stupid thing like, what's the best way to peel a banana? It's like These things aren't creating new ideas. They are really good at finding solutions from existing ideas and putting those things together in creative ways and lots of different useful stuff. But if we were to just like get lazy as human species and say, oh, AI's here, we're done. We don't need to create new companies. We don't need to put out new Wikipedias or new information or new art. We literally just stagnate because.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I know there's all these protocols that are underneath that are really the layer one of the internet. I understand that. But for the consumer internet, the part that matters to e-commerce and the consumer, domain names are layer one. They're the bedrock foundation of doing commerce.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“When social media came on the scene, everybody pushed back and said, Well, my domain is less important now. I connect with people on social media. Okay, you're going to regret that. Then apps came on the scene. And I was like, your domain isn't that important for me. People don't even go to the web anymore. They just use apps. And then everybody has 2,000 apps on their phone. And it's like, I'm not sure that's much better, right? And now there's lots of security issues with apps. And now Google is basically trying to kill apps. And so every iteration of this, of the way humans interact with the internet offers up the fresh new death of domain names. But basically domain names are the foundational layer. They're the bedrock layer of the digital world. Everything else is built on top of that. So domain names are some super geeky technologist, hard tech guy is going to tell me I'm, you know, for the most part, for the consumer internet, domain names are layer one.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“I welcome the use of AI to, I think, finally be able to replicate what it is I do because it is repetitive. So I think I can use AI to do that.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Yep. Yep. A lot. If there was a single place where I would be like, you and I differ more. I think this would be the one. It's like pure chaos. It's pure chaos. Anybody that works for me is like, what do you mean you just operate from your inbox? Your inbox is just a tool. No, no, no. This is my dashboard. This is like everything is in my inbox. Everything. So yeah, so I don't have any tips or tricks. I really just.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Use Apple Mail, but our domain is on Google, but I don't use any filters. Occasionally, let's say every couple months, I'll go in and I'll do the unsubscribed thing. But I honestly find that the more you unsubscribe, the more you get subscribed to other things. I think that that's the hook. But I am, for the first time in my life, I'm optimistic. I think that it seems like low-hanging fruit and if there's an AI company super specialized in email filtering, please reach out to me. I would very much welcome your assistance. But I think that AI is going to be a really powerful tool. I think that what I do is replicable by AI. I tried it with an assistance twice. I've had an assistant who would like at least eliminate the low-hanging fruit, but teaching them the way I think about it, helping them understand like, don't delete that. That is actually a really good domain name for XYZ reason. And it's only this crazy...”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“And really, I just muscle through it every single day. I basically have accepted that I have about a two and a half hour window every single day where it's just clean the inbox. So first two and a half hours of my day, almost every day are highly caffeinated, muscling through my inbox. And then my, you know, real day starts.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Makes me feel foolish. It makes me when I lose my temper, it makes me say, you idiot, what are you doing? You can't even control your temper. What are you doing? So I just keep it on my desk. Really, you know, I reference it, but more than anything, I keep it on my desk and it's a reminder that when some troll on the internet pisses me off or somebody I'm on the phone with, you know, outraged. Yeah. Because I got an autorespon.com.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“I need anymore is really the way that I look at it. I wanted to attribute that to you because you've done God's work in a lot of your podcasts and talking about this issue and how you've dealt with it. And that has sent me down a lot of rabbit holes. I'm very good at picking up on these threads and then diving down the rabbit hole and exploring”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Absolutely, but it's precisely what you said. You create a narrative around it that suits you to justify it, which further ingrains it into who you are or who you believe you are. You know, at some point it stops serving you. And it doesn't have to be anger. It can be many things, many emotions, or maybe just self-identifying characteristics. And it's very difficult to then change your software and say like, oh, I don't need that anymore. And I'm still working on how to do it. But I've made a lot of progress. You didn't outlet for it. So I started boxing. You know, you need to reflect on it constantly to understand where the triggers and understand, okay, when I get one of these triggers, I need to just walk away, stay silent, whatever it might be, but trying to find ways to not engage with it and then always reminding yourself that this isn't who I am anymore or this isn't something I need anymore. This isn't a tool that I need.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“But I think it's a good highlight of things that previously served me that no longer do. It even became a part of my identity, both self-inflicted as well as others.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Emotional anger. It's a fire that burns in me. And it's not always there. But when I get triggered, which is fairly often, it shows its ugly head. And so I would say that in my earlier life, it actually served me well. I would have even called it a superpower. But as I've gotten older and as I've evolved in business and as I've evolved in my marriage and as I've evolved in relationships, it's not necessarily my friend. And so I've had to find ways to deal with that. But it was listening to a podcast that you did many years ago talking about yourself dealing with anger issues and anger management. It sort of was the first time I even went, oh, maybe I've got an issue. Maybe this isn't normal. And so, you know, it was that recognition that sort of led me to seek out ways to start dealing with it. And it's an ongoing process.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Well, I attribute my, let's say, evolution of my anger management to you. I guess it's part of the reason I bought fuck youself.com. It's part of the reason that I have the reputation I do, which is quite, I don't want to say belligerent, but I don't suffer fools gladly and I'm not afraid to speak my mind at all times. the self-designated counterweight to political correctness. And so I just like to keep it real. But a part of that is anger. I have a deep.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“No such thing Come on. I don't know why that's never occurred to me, but that's literally going to be the way I sign from now on. But yes, it's in exactly the same vein, pun intended. So brutal.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“No, no, no, no, no, no. It was selective. There were certain emails that I then set up to be autoresponded to, like consistent emails that I would get. They would be put into the file that would be auto responded directly from goyourself.com. And then other people I would just use more surgically when appropriate and sometimes inappropriate. But the problem, I was having fun with it and I still, you know, I get a lot of pleasure from it. But the problem was that it turns out that everybody on earth in nearly every country, from what I can tell, when they fill out a form and they don't want to give their email address, the email address they give is go with fuckourself.com. And so gofourself.com literally gets over 100,000 emails a day. What? Yes. So it is completely unusable as like, you know, vanity email address, but it is still fun as a responder.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“And I cannot tell you how much pleasure that has brought me. I don't know what that says about me, but it truly was one of the best purchases I've ever made in my life”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Oh, yeah, absolutely. There's full of keywords that are going to get flagged. 100%. So I gave up on spam filters years ago and I just biked a bullet and I've tried a million different things. And always there's just a some degree of loss I'm not willing to accept. And so I just literally muscle through it every single day. And it's really the only thing in Email is still my ball and chain. So at some point, very early, it gets tiring. You get a lot of crazy people and a lot of just garbage. And so somebody presented me with fuck yourself.com. And I thought, wow, I want to buy that domain just to have the email address go at fuckyourself.com. And then I'm going to create an autoresponder. And so all of these idiots emailing me, I'm going to literally just email them back from goyourself.com.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“This is remarkably timely. As I alluded to earlier in this conversation, I get literally thousands of emails a day. Okay. So I am like, I don't know, maybe there's somebody out there that gets more, but I'm kind of like one of the world's power users of email. I get roughly 2,500 to 3,000 emails a day. I don't use a spam filter because really in my business”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“And that digital place where you meet your customer is a domain name. Now, some people have argued and they've for many years, I've heard everything. Originally it was like, oh, I don't, I remember when absolute vodka launched the first billboard campaign where they didn't advertise their own domain name. They advertised their Facebook page. And I remember seeing that billboard and thinking to myself how stupid. You are literally at least, I don't know, 20 cents. I'm pulling a number out of my head, but like it's got to be 20, 30% of the equity that you're buying with that billboard is going to Facebook. And then when the customer goes to Facebook, you don't even own that relationship. You don't own the data. You don't own the relationship. You can be shut off at will. Nothing you can do about it, right? And that was before cancel culture. Now it's like a serious problem.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“It's a lot more interesting than a domain sale. It's like, oh, I get to come along for the ride. So this comes back to another thing, which is that I actually fundamentally believe that we are still in the early stages of domain names and domain name value, early stages of digital commerce and the internet. Most people in the world have been online for less than 25 years. It's a pretty short period of time as we see commercial real estate sort of dying and all the distress in the commercial real estate. We're seeing the digital real estate boom. And there's a direct correlation there. I wouldn't say a causation. So again, what is a domain name? It's the place where you meet your customer. It's the only place that you own that you meet your customer, where it used to be the retail store or the office or the whatever. Something brick and mortar, now it's digital.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“So it doesn't always work. I mean, it depends on who the company is, who the founders are, what are the chances it's a negotiation like anything else, but generally speaking, we've got a clawback clause. Otherwise, we need to, you know, mark up the domain to account for risk. But we started doing that. And so now, you know, I don't know, we've got quite a number of startups that we have a piece of equity in that we've literally invested in, but we didn't invest. Cash reinvested a domain name. In some of them, I invested cash on top. Because I was excited about the opportunity.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Your one, your payment schedule. Yeah. Yeah. And like the leasing idea triggered in my mind that, wow, I can actually act like a venture capitalist. But instead of putting capital money into these companies, I can treat these domain names as capital. And interestingly, I get the best position on the cap table because in my contracts, if you fail, I just call the domain back because the equity goes to zero.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“We were working through ideas on how could this work. And I'm, if anything, I'm extremely open-minded. And so I was just throwing spaghetti against the wall to see what would stick. And I was like, look, give me a piece of equity in lieu of cash. And she was like, oh, that's an idea. And so she went back to her board and came back and we did a deal. There was some cash. There was, you know, I think there were some milestone cash payments and there was a small piece of equity, you know, valued at precisely that delta. There was no funny business. I didn't increase the price. It was just, you know, we're going to make up for that delta between what we're going to pay you in cash and what you wanted in cash with equity.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“She was building this health tech business. And she wanted to buy Vita.com. And she understood. I mean, she had worked for and worked with a lot of Silicon Valley's most famous founders and VCs. She was committed to owning Vita.com. And she didn't want to pay the price. I won't get into the numbers, but she didn't want to pay my price. I love that was one of my favorite domain names.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“I mentioned that just because Stephanie Telenius, who was early employees at Yahoo, at PayPal at, I think, 2012, Woman of the Year in Technology, phenomenal founder, she approached me to buy Vita.com. She didn't want to pay. VIDA The Spanish word for life”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“To raise your next round of funding, and your VC says, Look, if you don't have your dot com at this stage, it's a huge risk. We're looking for 100x here, right? Like we want you to be a $10 billion company or a hundred billion dollar company. And you can't do that without your dot com. And so if you don't get it at this stage, then we don't know what it's going to cost later or you might not be able to get it later.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“At some point, you're going to have to upgrade because there's a ceiling. You'd be hard pressed. There are a few exceptions, but I think you'd be hard pressed to tell me a company valued over a billion dollars that isn't on a dot-com. You'd be pretty hard pressed. And I think there's only one Fortune 1000 company that is not on a dot com. So at some point for a variety of reasons, you're going to hit a ceiling if you do not have your exact brandmatch.com. Maybe it's because you want to go public and your investment bank, which was the case with Facebook when they wanted to go public. The investment bank, whoever it was, the auditors, whatever, whoever was, came in and said, look, you guys need to own all your IP before we're going to take you public. And so last minute, they had to go out and buy fb.com from the American Farm Bureau and they paid $8.5 million for it because literally a banker told them they can't go public until they wrap up this IP. Or maybe you're”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Even if you know you want to buy it and you have the money to buy it, you probably have a better use case for the cash flow. It literally is going to cost you, in most cases, less than you pay to keep your floor clean in your office to have this domain name. The lowest paid person in your company costs more than your company's branded domain name per month. So it's a no-brander, in my opinion, for almost everybody. When you go to raise funds and you go to your VC being I am vita.com. I'm an investor in a company called Vita. I sold them the vita.com domain name, which is a good segue into another element of this that you sort of reference. But it's a lot easier to raise capital going and saying, we are Vita and we have Vita.com rather than we're trya or we're vita.io or we're vita.xyz. You're not a serious company. It's like you're on training wheels. And so at some point, and most of the smart VCs know this.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Concept evolved in my head to the point where it's a no brainer. Even if you have the money, why lay out the cash if you can lease it?”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, you got to deal with broken pipes and electricians, and you got to, you know, you got local and state real estate taxes and you got, right? What you get gross is very different than what you get net. And not to mention the time investment. So I laugh when I hear people in the real estate business talking about passive income, but it truly is passive income. It's literally set it and forget it. I literally hand the domain off to escrow.com. The servers get pointed to the person leasing it. And I get a notification once a month that the payment was received. End of story. That's it. So that's a pretty good gig. When I did that math and I was like, wow, I like those numbers. It got me pretty excited and I started to pursue this and I talked to GoDaddy and I talked to some other players in the industry saying, why don't we promote this as the way that companies should sell domains or acquire a domain? And from there.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“Okay, so this is literally one of my favorite topics. This was part of the whole revelation of creating this I was I was sitting back and I was thinking to myself all right now I've got about 5,000 really good domain names let's just take the top 500 these would all be domain names that at an absolute minimum you're talking about $100,000 and that would be cheap so a hundred thousand dollars and up some of these are eight figures some of these are seven figures some of these are mid six figures blah blah blah right but $100,000 to many millions of dollars in value The price I would expect to sell them for If I just took the top 500 domain names and I, let's just say I'm giving them away, I'm gonna give away all of them for 500 bucks a month. That's $250,000 a month in totally passive income. And when I say passive income, like you'd be hard pressed to find more passive income, right? Because not like a real estate portfolio where like you gotta once in a while.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT
“And so that's the first element of de risking is that number one, you're never going to have to rebrand, which is a very because of SEO, because of technical challenges, because of word of mouth and a whole bunch of different things. A rebrand while you're at stride is very difficult to pull off. And it leads to all sorts of messiness. Generally speaking, it's going to cost you somewhere between depending on the complexity of your organization, between $10,000 and $40,000 per employee to do a domain name rebrand, to move from one domain to another one, particularly gets higher and higher and higher. The layer stage you are in your organization, the more complexity you have. So you are leasing the demand. You look like you're a serious business right from the get-go. You're not try this or get that.”
2023-12-20 · The Tim Ferriss Show · #711: Andrew Rosener — Becoming The Hokkaido Scallop King, Leasing Blue Chip URLs, Life Tenets from Charlie Tuna, Selling 8-Figure Domains, and More · IDENTIFIED FROM THE TRANSCRIPT