I was watching This Week in Startups (hat tip to Frank Schilling for the link) and there was a little segment about domain names. While interesting to hear the story it really wasn't the most interesting thing I heard in the talk. What he discovered about domain names was easily encompassed in the quote:
What is effective marketing today will not be effective tomorrow. - Michael Robertson
It's later explained that basically when you find a really effective channel (adwords, new channel, whatever) eventually if it converts well the big guys will come in and an equilibrium price will be established. Look at the domain name industry from this viewpoint... we've reached that point. Sure there is the occasional bargain but basically everyone is in on the game.
All this talk simply reminds me of competitive advantage. We get so focused on tips and tricks and completely forget what it is that gives us a REAL (see sustainable) competitive advantage. So, what's your competitive advantage?