Now if he were smart, he would also buy the numeric domain 6977223.com and develop it as the mobile portal for MySpace. That way, his customers could access the "fifth most-viewed internet domain in the US..." from their cell phones, from anywhere in the world.
Great, powerful exposure. But it's the ultimate house of cards. If users find a better service tomorrow, they will be gone. But I suppose the same could be said about Google's service. While it can happen, it's unlikely that these companies are going anywhere in the near term anyway.
That's what everybody was saying about yahoo and ebay 6-7 years ago. The amount seems crazy until you consider the whole package such as the existing customer base.