Business idea · Physical-Services
Third Place Development
Third Place Development: Developing community spaces that serve as social hubs for young men, such as bars, sports leagues, and experiential venues like Top Golf or trampoline parks. It was pitched on My First Million, hosted by Sam Parr and Shaan Puri, in the episode "Asking Scott Galloway 10 Questions We’re Not Allowed To Ask (unfiltered)" (aired February 16, 2026).
At a glance
| Podcast | My First Million |
|---|---|
| Hosted by | Sam Parr and Shaan Puri |
| Episode | Asking Scott Galloway 10 Questions We’re Not Allowed To Ask (unfiltered) |
| Aired | February 16, 2026 |
| Category | Physical-Services |
| Real companies on the episode | HubSpot, Amazon, Simon Property Group, L2, Plum Jack, Uber |
The problem it solves
Addresses the loneliness epidemic among young males by providing them with spaces to socialize and connect with peers.
How it makes money
Revenue can be generated through entry fees, memberships, food and beverage sales, and hosting events.
Skills you need
Skills in real estate development, community engagement, marketing, and event planning.
The market, and why this works now
The rise of co-working spaces has created a model for Third Place Development, allowing community hubs to thrive under flexible leasing agreements. Initiating revenue can begin by promoting events on platforms like Meetup, where local interest in social gatherings can be tapped. A significant risk involves the capital required for real estate acquisition and renovation, which can lead to prolonged payback periods before profitability is achieved.
Our analysis, written after the episode. Not a quote from the show.
Real companies discussed on this episode
- HubSpot
A customer platform that provides businesses with access to data and insights necessary for growth.
- Amazon
An e-commerce platform that offers a wide range of products and services, including subscriptions like Amazon Prime.
- Simon Property Group
A real estate investment trust that owns and operates shopping malls and outlet centers.
- L2
A digital benchmarking firm that provides analytics on brand performance.
- Plum Jack
A winery owned by Governor Gavin Newsom.
- Uber
A ride-hailing service that allows users to book rides through a mobile app and offers food delivery via Uber Eats.
Where this idea came from
Podcast: My First Million, hosted by Sam Parr and Shaan Puri
Episode: Asking Scott Galloway 10 Questions We’re Not Allowed To Ask (unfiltered)
Aired:
Summarized from the episode transcript. The show does not say which speaker raised each idea, so we credit the show, not a person.