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

Justine Chew justine.chew at gmail.com
Thu Nov 14 09:33:21 UTC 2019


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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