[registration-issues-wg] [CPWG] Fwd: ISOC sells PIR

Seun Ojedeji seun.ojedeji at gmail.com
Thu Nov 14 09:47:26 UTC 2019


Hello Justine,

Yes you are right i misunderstood something in your mail, but it wasn't the
role, it was the word "proceeds" I had thought you meant the proceeds made
by the new org. I guess we are both in sync then. Nevertheless it still
opens the question of the fact that the major funding source of ISOC(which
includes ISOC chapters)/IETF is now gone. It may look like they have x
amount they've received form the sale afterall.....well that to me is a
static cash which can either diminish rapidly or increase a little (if
invested properly), which i don't think is better than a continuous steady
source of funds that ISOC enjoy from earlier ISOC/PIR relationship. I still
wonder, what the ref was thinking by making this move!

Regards

On Thu, Nov 14, 2019 at 4:34 AM Justine Chew <justine.chew at gmail.com> wrote:

> Seun,
>
> You are mixing up the roles of the parties. The new owner ie Ethos Capital
> has no role to play in and does not fund the endowment for ISOC
> projects/activities. Ethos Capital is buying PIR (the operating entity
> which is an asset of ISOC) from ISOC - i.e. an outright sale and purchase
> of an asset - for X sum. It is ISOC which will arrange to fund the
> endowment vide the X sum (or more accurately, the returns on the investment
> of X sum) it receives from Ethos Capital.
>
> After the transaction is completed, Ethos Capital will own and operate PIR
> outright. So no revenue sharing is involved.
>
> The announcement indicated that Ethos Capital intends for "*PIR to
> continue to meet the highest standards of public transparency,
> accountability, and social performance in line with its longstanding
> purpose-driven mission*" and to maintain "*all of **PIR’s domain
> operations and educational initiatives*" as is - these are PIR's domain
> operations and educational initiatives not ISOC projects/activities.
>
> Justine
> -----
>
>
> On Thu, 14 Nov 2019 at 16:58, Seun Ojedeji <seun.ojedeji at gmail.com> wrote:
>
>> Sent from my mobile
>> Kindly excuse brevity and typos
>>
>> On Thu, 14 Nov 2019, 03:33 Justine Chew, <justine.chew at gmail.com> wrote:
>>
>>> It is an outright sale of an asset, the proceeds of which go toward "an
>>> endowment fund" for ISOC projects/activities.
>>>
>> No revenue sharing is involved.
>>>
>>
>> SO: This actually is quite fuzzy, and I am not sure how this will be
>> practically feasible. I am not sure what obligation will compel the new
>> owner to adequately fund the endowment/ISOC since there is no revenue
>> sharing agreements involved.
>>
>> Regards
>>
>>>
>>> The announcement indicated that all projects and operations will
>>> continue as is under new ownership. With its policy on public/community
>>> benefit presumably driven and overseen by Ethos Capital's Stewardship
>>> Council - I wonder who they will put on this Council.
>>>
>>> PIR under Ethos Capital will lose its non-for-profit status, so there
>>> might be financial implication not to ISOC but possibly PIR's existing .org
>>> customers/registrants.
>>>
>>> We shall see.
>>>
>>> Justine
>>> -----
>>>
>>>
>>> On Thu, 14 Nov 2019 at 10:21, Maureen Hilyard <maureen.hilyard at gmail.com>
>>> wrote:
>>>
>>>> As Eduardo said there are lots of unknowns at present. Who knows?
>>>>
>>>> On Wed, 13 Nov 2019, 3:02 PM Alan Greenberg, <alan.greenberg at mcgill.ca>
>>>> wrote:
>>>>
>>>>> Why will it have major implications on ISOC Chapters?
>>>>>
>>>>> Alan
>>>>>
>>>>> At 13/11/2019 02:52 PM, Maureen Hilyard wrote:
>>>>>
>>>>> I know for sure that this was not even hinted at during the last PIR
>>>>> Advisory Council meeting.. but it will have major implications for the ISOC
>>>>> chapters. What are they/ISOC thinking?
>>>>>
>>>>> Maureen
>>>>>
>>>>> On Wed, Nov 13, 2019 at 7:59 AM Marita Moll <mmoll at ca.inter.net>
>>>>> wrote:
>>>>>
>>>>> Had we known this was lurking in the background -- which it most
>>>>> certainly was at the time -- it might have been a different discussion. How
>>>>> much did ISOC know and when did they know it -- a question ISOC chapters
>>>>> might want to ask.
>>>>>
>>>>> Marita
>>>>> -------- Forwarded Message --------
>>>>> Subject: ISOC sells PIR
>>>>> Date: Wed, 13 Nov 2019 17:38:29 +0000
>>>>> From: Stephanie Perrin <stephanie.perrin at MAIL.UTORONTO.CA>
>>>>> <stephanie.perrin at MAIL.UTORONTO.CA>
>>>>> Reply-To: Stephanie Perrin <stephanie.perrin at MAIL.UTORONTO.CA>
>>>>> <stephanie.perrin at MAIL.UTORONTO.CA>
>>>>> To: NCSG-DISCUSS at LISTSERV.SYR.EDU
>>>>>
>>>>>
>>>>>  I must say, this casts the decision to drop price caps for .org in a
>>>>> slightly different light.  I will keep you posted as I learn more.
>>>>>
>>>>>
>>>>>
>>>>> https://www.businesswire.com/news/home/20191113005661/en/Ethos-Capital-Acquire-Public-Interest-Registry-Internet
>>>>>
>>>>>
>>>>> Stephanie Perrin
>>>>>
>>>>> NCSG Chair
>>>>>
>>>>>
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-- 
------------------------------------------------------------------------





*Seun Ojedeji,Federal University Oye-Ekitiweb:      http://www.fuoye.edu.ng
<http://www.fuoye.edu.ng> Mobile: +2348035233535**alt email:
<http://goog_1872880453>seun.ojedeji at fuoye.edu.ng
<seun.ojedeji at fuoye.edu.ng>*

Bringing another down does not take you up - think about your action!
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