(Bloomberg) — Frank McCourt, the billionaire real estate mogul and former owner of the Los Angeles Dodgers, is pouring $100 million into an attempt to rebuild the foundations of social media. The effort, which he has loftily named Project Liberty, centers on the construction of a publicly accessible database of people’s social connections, allowing users to move records of their relationships between social media services instead of being locked into a few dominant apps.
The undercurrent to Project Liberty is a fear of the power that a few huge companies — and specifically Facebook Inc. — have amassed over the last decade. “I never thought I would be questioning the security of our underlying systems, namely democracy and capitalism,” McCourt said.
