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Matrix is great, but it leaks a ton of data.

To whom? AFAIK if you self-host, no data is leaked.

If you and everyone you talk to are hosted on servers you trust, down to the physical provider, yes.

EDIT: if the person you're talking to is hosted on Google, Google has all the metadata. Even if one person is hosted on Google and is part of a room you're in, Google has all the metadata in that room.

In 2022 e2ee is the standard for messages but not metadata, and unfortunately Matrix doesn't tackle it, so no, you can't expect 100% privacy.

Signal is hosted on Amazon

But the backend of Signal doesn't store who talks to who, so Amazon can't have that information. It also doesn't store what groups exist and who is part of it.

Nobody knows that except amazon and signal.

Would be interesting to know if Amazon could reconstruct that information without Signals knowledge

So does Signal: who when with whom

Matrix does leak more meta data though, e.g. message relationships for instance, but what does that matter?

That's false - Signal has had sealed sender on by default since 2018. (the setting you can turn on is just to see an icon in the ui).

No, see. https://news.ycombinator.com/item?id=33355126

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