I haven't looked deeply into this initiative but Movement for a Better Internet strikes me on the surface as a good idea and worth following. It's looking at web3, federated social media, and all the rest of it with an eye to what it is we want out of an internet "guided by a public interest vision and agenda we build together, reflecting shared values like openness, diversity, privacy, and equity." Easier said than done, as those with power tend to gravitate toward initiatives like this and steer them toward more self-serving objectives. Related: Mozilla's setting up shop on Mastodon and trying to reinvent content moderation.
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