Wednesday, August 19, 2009
Bill Liao Setting a Philanthropic Example via The Hunger Project
A couple of days ago I was contacted by Bill Liao because he was interested in purchasing a domain name that I owned. After a couple back and forth emails negotiating the price he made an offer I couldn't refuse. He jokingly asked me if I'd be willing to donate the entire purchase price of the domain to The Hunger Project. I told him I'd be more than happy to donate 50% of the purchase price to THP.org and he replied with "Deal!". Not knowing whether or not we actually had a deal, since I had not seen any money in my bank account, I had some doubt that he would follow through with his verbal (email) commitment. Then later this afternoon I received a PayPal notice saying funds were in my account and shortly after that I received an email from him with the confirmation that he had donated the other half of the purchase price to The Hunger Project. Needless to say I was quite excited. Not only was I able to sell a valuable domain to a good home and reduce my domain portfolio by a name, but a well-deserving non-profit got a nice donation. I'm not at liberty, nor do I think it makes much sense, to disclose how much was donated but I can tell you that it was a nice $x,xxx donation. Bill impressed me with his willingness to trust someone he'd never met that lives on the other side of the world and that he wired money to my account without as much as a written contract. I've had my fair share of legal dealings, I've won some suits and lost some suits, but every attorney I've ever met says that the best contracts are the ones that sit in a desk droor collecting dust. However, I think the best contract is the one that exists verbally and is acted on by both parties. I'm sure I have over 100 pounds of contracts in filing cabinets that cost several hundred thousand dollars to put together but none of them has the spirit of the deal between Bill and I. Because of his willingness to risk losing some money to someone he'd never met, I was all the more eager to make sure he got the name as quickly as possible because someone that acts on faith inspires others to do the same. I guess its a little bit of a Pay It Forward mentality but it just makes sense. I wish all of you who have been burned in the past (we've all been on both sides of that regrettably) don't miss an opportunity to act on faith every once in a while, cause like Piper says... "You never know daddy!" And she's right. Don't get me wrong, handshakes can only go so far and are not appropriate in the majority of business deals, but when you can take a risk without it causing permanent damage then I highly recommend taking that chance. It's well worth it.
By Admin at 09:22 PM | Comments (0)