Are you a coder or startuper who thinks you can come up with a better social network than Facebook? If you do and you are successful, you can win $100,000.
Jason Calacanis, an angel investor and entrepreneur who is a leader in the startup world, has come up with a great offer, the "Openbook Challenge".
Calacanis's organization, LAUNCH, will be funding seven teams that want to build a billion-user social network which will replace Facebook with a social network that is good for society.
Out of an estimated 100 teams that are expected to apply, 20 will be chosen as finalists, then seven teams will be chosen to receive $100,000 (for six percent, from the LAUNCH Incubator Fund) and join the LAUNCH incubator.
If you want to know more details about how the competition works, how the finalists and winners will be chosen, and the timeline, check out the Calacanis web site.