Diaspora (Personally Controlled Social Web Server) vs. Facebook

Check out Diaspora, "an open-source, privacy-aware, personally controlled do-it-all web server". It seems like you're centralizing all your social data and have ultimate control on your own server. Is this a Facebook killa? Students at NYU are behind this and it looks like they raised $100,000. I'm down. Check out the introduction videos, presentation to ISOC-NY and recent articles.

NYU Students Raise More than $100,000 to Build Facebook Alternative - Mashable

Four Nerds and a Cry to Arms Against Facebook - NY Times