Independent of the assumptions made here to estimate valuations, two 
serious questions remain: one to be asked by the ISOC Chapters; and the 
other by the .org stakeholder community (which is greater than just .org 
domain name holders).

     * What sort of due diligence did ISOC carry out in the face of this 
offer? (This impacts the integrity of the sale price and ISOC's 
fiduciary responsibilities )
     * Who knew what and when in the process within this deal and within 
ICANN's decision on relaxing the fee cap? (This impacts on the integrity 
of the process and participants)

It would be nice to have information, if only to "clear the air" around 
this.  There are no doubt other questions buried in the weeds around 
this deal. Those may surface later.

Sam Lanfranco,


On 12/2/2019 3:41 AM, Ayden Férdeline wrote:
> A venture capitalist and ex-Mckinsey consultant offers some thoughts 
> on the ISOC sale of PIR, and concludes that ISOC has undervalued PIR 
> by about US $1 billion. This analysis is not perfect (seems to 
> conflate revenue with earnings) but is interesting nonetheless:
>
> https://lancewiggs.com/2019/12/01/did-isoc-leave-1-billion-on-the-table/
>
> Ayden Férdeline


-- 
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"It is a disgrace to be rich and honoured
in an unjust state" -Confucius
  邦有道，贫且贱焉，耻也。邦无道，富且贵焉，耻也
------------------------------------------------
Visiting Prof, Xi'an Jaiotong-Liverpool Univ, Suzhou, China
Dr Sam Lanfranco (Prof Emeritus), Econ, York U., CANADA
email: [log in to unmask]   Skype: slanfranco
blog:  https://samlanfranco.blogspot.com
Phone: +1 613-476-0429 cell: +1 416-816-2852