why do you think they name this site my lot?

I think the first poster got it, it means my money/pay/cash.

I think "My Space" was already taken!

Well the word "lot" has a few meanings depending in the use. in this case i think it could be considered as my earnings, my property, my givings, my place. Ever here the expression "that's just my lot" meaning just whats coming to me or something along those lines. I'm pretty sure it plays around that terminology of the word "lot" and its you "lot" hence mylot

hmmm...I've never really wondered about that until now. Hmmm...I guess its because this is where we hang out? or this is like home...so its like "our lot." hehe