A discussion on one possible outcome: the fight over trademarked domains:

U.S. Loosens Grip On ICANN, Domain Chaos To Follow? http://www.pcworld.com/businesscenter/article/172901/us_loos...

Thanks for the link.

generic top-level domain = gTLD

As mentioned in the article, I do think one of the major issues with ICANN taking control has been the perceived idea that they will allow for a lot more gTLD.

As startups, the question will be do you buy out all the domains for with that name.

Or will an increase in gTLD create a semi "sorted" order. ( Perhaps categorised is a better word )

ie: I sell cars, I will be buy a domain under ".car".

I want wine, so I will do a google search "red wine site:*.wine".

Not speaking chinese / japanese / arabic myself, what happens when they put forward a desire to have "foreign word" top level domain. How do us none readers of the language search/find or even know they exist.

Clearly, for my own knowledge I need to read more, but if ICANN's "only" funding is from tax of domain names. You would believe they will be less influenced by funders etc. Which ultimately is a good thing, I feel.

I don't think it will have that much effect; the Internet works and will keep working as long as ICANN continues to basically do nothing.

ICANN is funded by a tax on domain names. IMO that money is wasted, but at least it's being wasted in a harmless way.