Saturday Musings – Equal Opportunity vs Equal Outcomes

Choose your equal....

I must admit that this blog post may get some people a little riled up…..but that’s OK as long as it provokes you to do some serious thinking. Over the last decade I’ve found the world has largely gone mad as it increasingly focuses on notion of equality of outcome no matter what. What do I mean by this?

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For a start, I’m absolutely for equality of opportunity. I don’t care what gender you are, the colour of your skin or what ethnic background you hail from. Everyone should have equal opportunity and it is up to the individual to decide whether they will avail themselves of the opportunities before them.

Now let’s look at equal outcome. Equal outcome is driven by saying things such as, “We want 50% of all politicians to be women.” or “If you are from a particular ethnic race then you get a bump in your educational score.” These sound like worthwhile goals until you unpack them.

Let’s imagine you are going to the doctor and find they are of the race that gets a bump in their education score. Does this mean they are qualified, or did they get a passing grade because their race? I would imagine you don’t want any of those thoughts going through your mind as you discuss your upcoming medical condition with them. What you want is the best qualified doctor giving potentially life and death advice.

Likewise, you’re about to jump on a plane and a women’s voice comes over the PA announcing she is the captain. Should we be worried that she is potentially under qualified and was awarded the position because of her gender?

I find these two scenarios unbelievably insulting to all those doctors that happened to be also from “bumped up score race”. It’s also insulting to all those women who work so incredibly hard to achieve a life-time dream. To my way of thinking it’s just wrong.

As soon as you mandate an outcome you’re no longer part of a meritocracy where your individual skills are what allow you to gain your goal. In some circumstances a philosophy of “equal outcome” can be very dangerous and as I said above it’s incredibly insulting to all those hard-working individuals that just happen to belong to a societal group that is “blessed” with a leg up.

We can even push this further. Let’s imagine we have a society where 75% of the health workers are women…..should we then mandate that this should be 50% to reflect the gender properly?  Should we then get rid of a whole lot of female doctors and nurses and replace them with men who either don’t want to do the job or are not qualified to do it?

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vanclute
Well said and watching first hand how the USA is completely imploding because of the PC movement as we speak, I couldn't agree mor... Read More
10 November 2019
Rawgi
I think you are on the right track. Try being on the negative side of that thinking, like I am now 66 and have been told I am t... Read More
10 November 2019
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Why I Struggle with Domain Sales

The problem with domain sales

Let me say right up front that domain sales as a business model is really difficult way to try to make a living. There are some exceptions to this statement, but they are few and far between.

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The problem with most domain sales is they are more a function of luck than of a carefully planned strategic decision. They happen so infrequently that for the majority of investors they don’t know when and what quantum of size the next sale will be. This makes planning in your business next to impossible.

For instance, let’s imagine you have a portfolio of 5,000 domains and during the last 12 months you sold a domain for $5,000 in January, one for $20,000 in June and finally one for $5,000 in September. This brings the total of your sales to $30,000.

This sounds great and everyone trumpets the $20,000 sale when you get together at NamesCon in January. What most people don’t tell you is the fact their renewals are $50,000 and during the last 12 months they went backwards by $20,000. Sure, this is a contrived example but I think you can get my meaning.

The dream is that one day you’ll sell a domain for $1,000,000 and all the waiting and constant reinvestment will be worth it. I hate to rain on your parade but given that only a handful of domains are sold for these sums of money each year then your aspiration will likely remain a pipedream.

The question I want to ask sales investors is actually quite simple, “What domains do you drop to reduce your costs so you're profitable?”

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Wolftalker
..words of wisdom.
06 November 2019
mgilmour
Thanks for that!
06 November 2019
ideafarmer
As I sit on a 1000 domains portfolio dependent on occasional sales and hoping for a big sale... you make me reconsider my strategy... Read More
06 November 2019
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30th Anniversary of the Australian Internet

Celebrating 30 years of the Internet

A few days ago, I had the privilege of being invited to attend a celebration of the 30th anniversary of the Internet in Australia. The event was held in Sydney and was organised by Peter Coroneos, the former CEO of the Internet industry association, and was supported by the “who’s who” of the Australian Internet industry.

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As a former director of the association it was great catching up with past colleagues and journeying down memory lane together as we recounted how the Internet has transformed our lives. For the first time in Australia’s history we were no longer isolated by our geography as the Internet brought us within one hundred milliseconds of everywhere in the world.

I chatted with a director of the association who is now running a university business incubator program. He asked me what he should say to the budding entrepreneurs under his charge. I said to him, “Get them overseas as fast as possible and open their eyes to the fact that Australia is no longer geographically isolated.”

Amongst many other things, the speech made by Paul Fletcher, who is the Minister of Communications, Cyber Safety and the Arts, picked up on the point that Australians had embraced the global marketplace. They had done this not only as consumers but also from businesses investing in reaching overseas markets via the Internet. So watch out world, here us Aussies come!

Honourable Paul Flecter

Paul Fletcher - Ministry for Communications, CyberSafety and the Arts

During the evening, many industry luminaries were highlighted for their efforts, either as entrepreneurs, technical experts or from a policy perspective. It was also sad to hear of the passing of others who had contributed so much to not just the Australian Internet industry but played valuable roles on the global stage.

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Saturday Musings - America IS Great

We the people...

When President Trump unveiled his presidential campaign slogan of “Make America Great Again” I was a little confused. Being from Australia and a frequent traveller to the USA I can unequivocally say that America has always been great and is still great.

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After flying for fourteen hours from Melbourne in an A380 it’s a welcome relief to step off the plane in Los Angeles. You know what the first thing I notice is? No, it’s not the security guards, the chaos of immigration or the queue for the taxis. It’s opportunity.

Sadly, some Americans have become so used to the opportunities around them that they can’t see them anymore. As a foreigner let me tell you right now that America was not just a land of opportunity for the early settlers, but it is very much still a land of opportunity right now.

Don’t get me wrong, I love Australia but in terms of opportunities when I’m at a conference in the USA I feel like I’ve come from the desert and entered a tropical paradise. Every conversation has bigger numbers in it, people are willing to give something a go and even failure is seen as just one of life’s many lessons.

Just over ten years ago I took my family to the USA for a six-month road trip. It was an amazing experience where we travelled the length and breadth of the nation in a Dodge Grand Caravan. During our trip the thing that impacted us the most was the openness and hospitality of the American people.

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vanclute
The funny thing is that's not even an original slogan. Trump appropriated it from Reagan (https://en.wikipedia.org/wiki/Make_Amer... Read More
27 October 2019
Rawgi
I won't even go into what I think of Trump. Thanks for thinking America is a great place, its nice to know someone does. There ... Read More
29 October 2019
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Part 5 - Traffic Test - The Results Three Months Later

The revenue trend continues to rise.

This is the fifth in the series on running a traffic test. I thought that I would return to the traffic test series and update readers on the results since the last article in July. The question that I wanted to know was whether the positive numbers previously reported were sustainable or whether they crashed back to reality.

The first four articles in the series can be viewed at:
Part 1 – Baseline Data

Part 2 – Focusing on Performance
Part 3 – Improving the Revenue
Part 4 – Show Me the Money!

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I would remind you that the data is being pulled from the ParkLogic client interface and this wasn’t a “special” customer that just so happened to be doing well. In fact, I didn’t know what the results would be prior to writing the first article.

The great news is that both the revenue and RPM trends have continued to increase. The revenue has increased above the baseline from 46% back in July to 55% as of now. I would have thought the trend would have levelled off by now but it’s continuing to increase.

Revenue chart

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mgilmour
Thank you for your comment. Just to let you know, we have a mixture of direct advertisers, affiliate, PPC and CPM based advertisin... Read More
22 October 2019
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