Sam Lessin: Web 3.0 is — at the most abstract level — really about right-sizing communities to a scale people can have a sense of personal purpose and place. It is about giving people ownership in meaningful way in the context of the people they want to be with and impressively extending that experience.

But the challenge with physical space-based businesses is not the size of the overall market, it's capturing enough of it in a scaleable way to build a venture backable business. A massive market with a felt need is necessary but not sufficient for venture scale growth.