Real estate has an intuitive hold on the financial imagination because the underlying logic is simple: land is finite, demand for it is not, and proximity to desirable things creates value that can be captured without being the desirable thing itself. Domain names operate on an analogous logic that most people either dismiss or don’t take seriously enough. The namespace is finite — there is one .com and the generic words within it are exhausted — demand for legible, memorable, brandable names compounds with every new business formation, and holding the right name at the right time creates value that has nothing to do with what you build on it.