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Would you bet your business on the whims of Muammar al-Gaddafi and the Libyan government? did.

The domain was seized and shut down by the Libyan government.

Folks, stop to think before you buy some cute domain name with a .ly extension. That’s the domain registrar run by the Libyan government, and they have control over all .ly domains. (The same goes for all the country-specific domains.)

If you’ve got an online business, your domain is your business. Lose the domain, and you’re done. Even if you could somehow sue to get it back, it’ll be too late to save your company.

To be clear: The domain name registrar for any country has the right to issue and revoke any domains they want. I’m saying it is a stupid move for any entrepreneur to bet your entire business on this well-know risk.

I can’t understand why investors have given $13.5 million. Their only business asset is their domain, and they don’t control it.

Your domain is your brand, is your service, is your entire business. And you decide that Libya is the best place to secure it? Duh.

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