One company that I think could and should exist is a social network for residents in large apartment buildings. You could think of this as "Nextdoor for Gen Z."
The motivation here is both practical and idealistic. For the visionary: this could be a meaningful way to combat the loneliness epidemic and help people build community, especially in relatively transient environments. For the operator: this a large population with distinct needs and strong potential network effects. Plus, there’s optionality with monetization down the line.
Opportunity
In 2022, more than 20 million U.S. households lived in apartment buildings with at least five units. About one third of that total lived in buildings with at least 50 units – and that population grew 8% from the previous year.
There is no platform that is designed specifically for the social needs of the urban tenant. The current "competitors" in this space – to the extent that they are used at all – are general purpose tools like WhatsApp or Facebook groups, or clunky forums run by building management.
A successful platform would make it easy and fun to connect with neighbors, focusing on use cases that provide value. Make it easy to host a shared Halloween party on the roof or organize a Super Bowl watch party. Empower residents to share resources like printers and vacuums or split bulk orders from Costco. Help neighbors find someone to walk their dog or even watch their kids for an evening.
How I’d do it
I think the go-to-market would be relatively straightforward, especially compared to other "consumer social" ideas. Just as Tinder and Bumble targeted fraternities and sororities on college campuses, founders of a "Gen Z Nextdoor" would benefit from network effects and a repeatable playbook.
Target one building at a time, learn what works, and move quickly to the next building. Find natural community leaders, listen to their feedback, and build for them. Figure out what types of buildings make the most sense.
Eventually, once you have traction across multiple buildings, you can start working with the building management companies. Integrate the network with building infrastructure to create a more tenant-friendly living experience. When the network becomes popular and valuable enough, it becomes its own amenity – one that management companies will purchase to attract new tenants.
