What they are proposing is significantly more difficult than what Facebook initially wrote. Facebook, at one point, was just another web app with a nice story for bootstrapping new users via the college networks. These guys are trying to build a distributed, secure, encrypted network on which to build social networking functionality. If they do it correctly it could be the basis for a whole lot more. And even if they don't work it out entirely as long as they release the source code it is a step in the right direction and others can continue to work on it or something similar.
Yes, but if they hire say cperciva or someone with credentials and experience like that I can see that part as 'solvable'.
The technology is doable, after all, skype was built by two guys on top of a library created to distribute mp3s.
If you look at the top of the pledge page they write "Decentralize the web", they do not specifically mention facebook, so they seem to be aware of the fact that this could be the basis for a whole lot more.
Well, GPG is fairly mature, and so is the BitTorrent protocol, which Bram Cohen launched at ~25. they're ambitious to be sure, but the basic concept is not that far out.
Anyway, they now have enough money to hire a competent programmer or two if they get stuck :)
