My MyWay partner-in-crime, Tom Evslin, has a great post up about the opportunity in local Web 2.0 businesses. For example, he writes:
"You could be the del.icio.us of local by providing a tool used within local sites for sub-communities to find the best of what ever they’re interested in."
To me, the opportunity does not lie in adding YAWN (yet another Web 2.0 network), but rather in enabling metalocal functionality in existing services.
I'm already using del.icio.us--I don't want to start using a new service. What we need is a meta layer on top of del.icio.us that allows me to see the kinds of links of other people in the same locale. Or a meta layer on top of flickr that lets me see the photostream of fellow 650 residents.
Create a single site where I can enter all my different services, my location, and other characteristics, and then connect me to content from other Palo Alto residents, Lakers fans, or whatever else might tickle my fancy. Think of it as Placeblogger on steroids.