I suppose it would be pretty easy to start a company that did exactly what I described in my bleg yesterday.
As far as I have found, there are no companies that do what I asked about yesterday. Geocities offers free sites, but if you want to host a domain, then you have to pay. Other companies offer free hosting...but there's a catch: you have to pay a high price to register your domain with them.
I don't think it's really in my area of interest, but I think it's a profitable idea. Go buy a cheap server somewhere, write a contract up for your users, sign up for Google adsense, and then place an Adsense bar on each webpage.
Your marginal costs are extremely low -- electricity for the server? -- and thus should be easily covered by Adsense.
It may be a little difficult to find consumers. Free webpages are easy to find, and it's not expensive to host a domain name. Plus, most people who get a domain name are willing to pay the hosting fees.
Hmm. Except bloggers. Bloggers might be an easy way to find folks to sign up for free domain hosting.