TEXT OF STORY
JEREMY HOBSON: To San Francisco now where a three-day conference kicks off today for investors and entrepreneurs with an interest in internet domains. We’re all familiar with “dot-com” and “dot-org.” But soon you’ll be able to get “dot-consumer-electronics” or “dot-hockey.”
From our Entrepreneurship Desk at Oregon Public Broadcasting, Mitchell Hartmann reports on the race to make money from these new domains.
MITCHELL HARTMAN: The Oklahoma land rush from the movie “Far and Away” is being used to promote today’s conference, which is all about staking a claim to one of these new Internet domains.
KIEREN MCCARTHY: It’ll cost you $185,000.
Kieren McCarthy’s running the conference. He used to work for the agency that’s selling the new top-level domains.
Right now, there are 21 of these — like dot-com, dot-net. But $185,000 could buy you a new one — say, dot-sport or dot-Vegas.
MCCARTHY You would have an ending, and then people would fight over the second-level domains.
And when he says “fight” he means ‘pay’ — for addresses like golf-dot-sport or hotels-dot-Vegas.
Lauren Weinstein of People for Internet Responsibility warns the land rush will bring cybersquatters.
LAUREN WEINSTEIN: Harrah’s, for example, not only do they feel they have to sign up for dot-Vegas, but if someday there’s a dot-gambling, you have to sign up for that one.
Trademarks will be protected, so dot-GE can be purchased only by GE.
I’m Mitchell Hartman for Marketplace.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.