That's not a fundamental flaw with the idea though, it's just that the specific community Yik Yak developed was terrible. You could do the same thing but have it target, say, LinkedIn's demographic instead of old-time MySpace's.

There actually was a startup in DC that was doing something like this, called SocialRadar. They had a lot of funding but failed due to lack of adoption. They had a real name policy and didn't have any of the same problems that Yik Yak did.