How This Island Got 10% of Their Money by Chance

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This video was made possible by . skillshare the first 1000 people assign . up can learn with skillshare for their . first two months for only 99 cents this . is tuvalu you're probably gonna need to . zoom in because tuvalu is the fourth . smallest country in the world by area . and second smallest by population only . 10,000 people live there which is less . than kirksville missouri a town whose . main attraction is the museum of . osteopathic medicine tuvalu lies about . halfway between sydney australia and . honolulu hawaii so it is isolated the . main island stretches a mere 2,000 feet . across at its widest and space is so . limited that were not used for flights . the airport's runway is used as a public . park and gathering place tuvalu also has . the lowest gdp of any country worldwide. of course it doesn't help that it's the . second least populous country and the . least populous country the vatican. literally has a bathtub worth 2 billion . dollars but the overall gross domestic . product of this country is a mere 32 . million dollars just for some reference . that's less than the amount that the us . government spends on printing each year . just to be more clear that's 85 times . less than the amount that the us . government spends on printing each year . because the us government spends 2. 7 . billion dollars on printing every year. but that's not the point the point is . that tuvalu is very small very isolated . and very poor when you're situated in . the middle of the pacific it can be . tough to make money a lot of other . pacific island countries rely on income. from tourism but it's particularly tough . to get to tuvalu it's airport only sees . 3 flights a week from nandi fiji and . this 650 mile trip costs about $ . roundtrip in metric that's too damn much . auckland the nearest large city is also. just as close to antarctica as it is to. tuvalu so they make their money by . killing fish studies not only do 42 . percent of tuvalu ins work in fishing . but the country also has an enormous . exclusive economic zone in which they. have exclusive rights to resources so . they sell fishing licenses to foreign . ships which provides a significant. portion of the government income but the . country's most interesting source of. income. came to them entirely by chance if you . remember half as interesting episode . four back before all my jokes became . terrible i talked about the . international organization for . standardization which set standards on. how to make tea among other things one . of them is standard 3 166 which defines . two letter codes for each and every . country so for example japan got jp . romania got auro and guatemala got gt . but then the internet came around in an . internet address there is generally a . third level domain a second-level domain . and the top-level domain which is what . we're interested in the top-level domain . is the last part of a domain name such . as dot-com org. net gov etc starting in. 1985 the internet assigned numbers . authority which assigns top-level . domains and has a surprisingly terrible. website for the organization that. basically runs the internet started . creating top-level domains for specific. countries and rather than just choosing . codes for each country they took the iso . 3166 list and used the preset codes for . each country and here's where to vaalu . got really lucky their code was tv and . their top-level domain was dot tv as it . turned out the internet did not fail . like journalist clifford stoll predicted. when he wrote in 1995 you can't tote a . laptop to the beach yet nikola . negroponte. director of the mit media lab predicts . that we'll soon buy books and newspapers . straight over the internet sure a few . people even started watching video on . the internet and dot tv was the perfect . top-level domain for new streaming sites. and so tuvalu started selling domains. originally a company called dot tv . bought the licensing rights for the dot . tv domain but in 2002 this company was . acquired by verisign which aside from . being a nightmare of a name for . dyslexics is the registrar for a bunch . of different top-level domains including. commnets . and now dot tv it's believed that the . country of tuvalu now receives two to . three million dollars per year from the . registration of different dot tv domains . up until 2002 vaalu was not part of the . united nations but they joined after . this deal went through because they . could finally afford the $100,000 . joining fee the revenues from this . domain . amount to almost 10% of the country's . gdp and have been used to pay for . crucial development in this tiny island . country if you want to learn how to join . the united nations skillshare sort of . has a class for that they don't have a . course about how to get your country . into the un that might be just a bit too . niche but they do have a course about . how to get a job at the un it covers the . application process the skill . assessments the interview stage and much. more but if you want to learn something . a little less practical they also have . courses like how to solve a rubik's cube . by fellow youtuber mike boy what's great . about skillshare is they have over . 18,000 classes so if you want to learn . something there's a good chance they . have a course on that you can get . started learning today with skill share . by being one of the first 1,000 people . to sign up at skl sh / h ai 7 and by . doing so you'll receive two full months . of learning for only 99 cents . .
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