Uhh, four guys and an idea for a website. You know they'll definitely succeed because they're totally willing to sacrifice their summer internships to build it in three months and release it, scouts-honor!
Sorry for the sarcasm & general negativity - but they have nothing. As someone else said, just build it. The concept of replacing Facebook with something open, private and distributed is not at all new - many have tried and failed before them. "We have the chops" and $10k isn't some kind of magic potion. And their biggest challenge isn't building it, it's getting people to leave Facebook for it.
Sorry for the sarcasm & general negativity - but they have nothing. As someone else said, just build it. The concept of replacing Facebook with something open, private and distributed is not at all new - many have tried and failed before them. "We have the chops" and $10k isn't some kind of magic potion. And their biggest challenge isn't building it, it's getting people to leave Facebook for it.