Creating a Better Facebook
Fed up with Facebook's insatiable need to continue to expose your personal information to ever widening circles, four NYU students have decided to build an open source, distributed competitor to the social networking behemoth. They've raised a few grand, but I imagine it will be harder to convince your mom to log in.
From the Diaspora website:
"Our current implementations include GPG encryption, scraping Twitter and Flickr, [...]"