During the 2002 Louis Vuitton and 2003 America’s Cup regattas, the author ran Schnack-Net - an email list-serve supporting Team New Zealand. The purpose of this paper is to reflect on what it meant for building diaspora networks that are part of New Zealand’s strategy for dealing with the brain drain. The study purposes are achieved by analysing America’s Cup broadcasting traditions and examining the Year 2000 defection crisis, learning and leadership inside Team New Zealand. Schnack-Net had a distinguished membership in New Zealand and overseas. Throughout the regatta, 60 missifs were dispatched. Although Alinghi captured the Cup, the Schnack-Net process and task of defending the Cup exposed contradictions concerning the future of New Zealand society. Schnack-Net was a low cost and... effective instrument for fostering learning, dialogue and exploring tensions triggered by the crisis in Team New Zealand and subsequent loss of the America’s Cup.