This is proving to be a very popular project. They originally set out to raise $10,000 by the 1st of June. So far they have raised over $115,000 and they still have 19 days to go. I expect some very good stuff to come from this project.
Here are the links to a couple of articles on the Diaspora project I contributed financially to:
Diaspora is an Open Source project which aims to develop a "privacy aware, personally controlled, do-it-all distributed social network". Given my rantings in various places about the lack of privacy associated with Facebook and the way they hide their disregard for you privacy, I thought it was time I put my money where my mouth is.