Om Malik: "Mike is so on the money with this one. ICANN is wasting time and energy creating top level domains that no one really cares two hoots about. What a zzzzzz!"

Om needs to lighten up and dig a little deeper. In all cases related to new TLDs, ICANN is just reacting to market demand. Companies like Microsoft, Nokia (and occasionally Tucows) have come forward with proposals to create new top-level domain names. Sometimes these proposals are solid enough to get ICANN's blessing. Occassionally, they will gain market traction and make their way into the lexicon.

Since when was letting business do business a waste of time? Its not like there is a central committee over at ICANN HQ dreaming up new TLDs to WOW the internet with.

That would be a task better left for the ITU.