
This most recent revival of live-work startups is powered by young do-it-yourselfers who are taking advantage of better, faster and cheaper technology to bootstrap their young companies rather than take on investors and give up a greater stake in their vision.
Living and working together around the clock certainly accelerates the breakneck pace of innovation, the Meetro entrepreneurs say. They want Meetro to become like MySpace for neighbors, where you can meet and make friends with people on the Internet who live near you.
"The Internet is a cold place. There is no feeling of physical place. This gives a face to the neighborhood. You can see photos of people near you, chat with people," said Vincent "Vinnie" Lauria, 26, who left a job at IBM in New York to take the startup for a spin.
The Meetros are their own most avid users. After they first moved to Palo Alto, the guys used their new service to find their nearest user, who lived four houses away, to borrow a vacuum cleaner after theirs broke.
And they believe their dedication is paying off. Founder Paul Bragiel, 28, says Meetro now has nearly 100,000 users around the world, all of whom have signed up through word of mouth. Their goal: to be able to use their own product anywhere they travel in the world.
"We think we have a big idea," said Bragiel, who bankrolls the startup, including $2,000 a month in rent and frequently stratospheric electricity bills. "Why else would we slave like this? We are here to make this happen. We think in six months that we will increase our value by a great amount."
Meetro.com

I must say... I'm not really sure I get it... how is it different than myspace/friendster? weird.