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I've been reading up on GPL because I know little about the nuances, but I think you only need to GPL and provide the source code if you distribute it to others. Web seems tricky for GPL, but I thought that was the purpose of AGPL. Please correct me it I am wrong.

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AGPL closes the "loophole" for server-side code.

Meteor pushes a lot of code to the client. This most probably constitutes distribution.

See Sencha's take on this: http://www.sencha.com/legal/open-source-faq/

They make money by dual-licensing JS code.

You're correct that for a server side web project the GPL doesn't make you distribute source since you never distribute the binary. For client side javascript stuff though you ARE distributing the result (minified JS or whatever) so you do have to distribute the original source.

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