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Dave Bascom summarises a presentation from Matt Cutts at domainroundtable where Matt comments on topics such as TLD's, inter-linking related sites and what Google deems as acceptable.

He talked about how there are lots of great reasons to buy domains, but not as many domainers want to actually design and build out sites around the domains.

Here are the highlights of what he discussed:

The primary litmus test for whether something is acceptable, ask yourself, “What is the regular user looking for?”
-Does it add value for the customer?
-Will they be happy to find this site?
-Is it relevant?
-Is the content unique?
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