[wmf]

"The Internet Society will receive this as a fund that it will invest as an endowment... This funding is sufficient to provide the Internet Society with broadly equivalent annual earnings we currently receive from PIR. And through responsible, well managed investment, we believe this fund will provide a comparable level of funding to the Internet Society in perpetuity."

Translation: "We sold the Internet to vultures (super-nice vultures! you won't believe how nice they are!) so that we could have... basically the same cash flow that we already had. But now we're going to deal with bankers instead of Afilias."

[steve19]

"Our mission is to support and promote the development of the Internet around the world — an Internet that is open, globally connected, secure, and trustworthy."

Prediction: they will achieve nothing, at all, whatsoever.

Everyone who voted for this should be ashamed of themselves.

[FireBeyond]

I wonder how good their investment strategy is that 1.1B will earn them $120M/year in income, that's nearly 11% return...

[wmf]

No, it sounds like they're aiming for $50M/year.

[FireBeyond]

Which then, if so, doesn't really add up... how is $50M "broadly equivalent" to $120M??

[shadowgovt]

The .org TLD isn't "The Internet."

[wmf]

Hey, give it time. Maybe next they'll sell the IETF to Cisco for another billion.