Build me a better Facebook

Build me a better Facebook

 Silicon Valley backs Facebook rival

Silicon Valley wants to build a competitive alternative to Facebook. Valley investor Jason Calacanis has launched a competition to develop a ‘billion-user’ network to replace Zuckerberg’s troubled baby while also protecting consumer privacy.

The Open Book Challenge initiative says it wants “to invest in replacements that don’t manipulate people and that protect our democracy from bad actors looking to spread misinformation”.

The project is looking for teams that can actually build a replacement, so Open Book Challenge will judge applicants based primarily on their ability to execute rather than on some Powerpoint-anchored business plan. Initially, 20 teams will be selected as wannabe-Facebook finalists for a three-month period, after which seven teams will join the final stage of the project, snagging $100,000 and a spot in the dedicated 12-week incubator, slated to kick off on 12 October 12.

What is Open Book Challenge looking for in a Facebook rival?

“In order to beat Facebook, we believe the winning team will have to not only build a base functionality that is familiar to users looking to switch, but also provide new experiences that will make users passionate about the new product,” it says.

Image: Open Book Challenge

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