Is Facebook replaceable? Tech investor launches bid to 'start the process'

Jason Calacanis, an early investor in Uber, spearheads a contest to find a service 'that is actually good for society'

Can Facebook be replaced? The prominent Silicon Valley investor Jason Calacanis, who was an early investor in several high-profile tech companies including Uber certainly hopes so. He has launched a competition to find a "social network that is actually good for society".

The Openbook Challenge will offer seven "purpose-driven teams" $100,000 in investment to build a billion-user social network that could replace the technology titan while protecting consumer privacy.