I saw an interesting piece of advice. It said “You should never pay more than $10, the minimum registration fee, for a domain.”
That is very good advice. Most of the one word domains are taken. However, there are plenty of 2 and 3 word domains available. They are just as easy to remember as a one word domain, if you pick them right.
“Realfreemarket.org” is a good domain choice. If I were super-anxious, I might buy the .net or .com version from the people who are squatting it. I’m not going to bother. They’d probably jack up the price to $1k or more, once I expressed interest in buying.
One interesting example is the job interview where they were using node.js. They were claiming to launch by the end of 2011, but they still just have a placeholder site. (I should send the Harvard MBA a sarcastic E-Mail, just because I feel like being rude and found a job with a real business. Also, he was somewhat intelligent and not totally clueless.)
As I already observed (and someone was amused by), “I have a Harvard MBA!” translates into English as “I’m an idiot!” The founder of that website was bragging about how smart he was, getting a short English word as a domain. I saw that as evidence of what a big fool he was. He probably paid a ton of money for that domain. The money he spent on the domain is money he didn’t spend building his product. No matter how cool your domain name is, nobody will use your website if it sucks or doesn’t exist.
The only advantage of a short domain is convincing VCs (other idiots) to invest in your business. If you’re looking for VC, a slick pitch is more important than something that’s useful and actually works and profitable. That idiot’s “MIT PhD” “idea guy” said “It’s more important to make something cool than something profitable!” That’s only true in a corruption hype-based economy. (I wonder if “I have a CS PhD from MIT!” translates into English as “I can’t write code, but excel at promoting myself and bossing around others.”)
A bunch of people are squatting all the short one-word domain names. They are making money, because they can convince other idiots to buy the domain from them. I’m 99% sure that the person who gave up the short English domain to the Harvard MBA=fool got a good deal. He probably got cash, equity, and the option to get the domain name back when the startup fails.
You should never spend more than the minimum registration fee for a domain. You should be able to think of a 2 or 3 word English phrase that’s available. Every dollar you spend on a domain name is a dollar you didn’t spend building your website.