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You pay money, Dalton becomes a partner at YC.

Everybody wins!

Oh. Wait.

I pay money and... they don't keep trying to stuff monetizing junk all up in my twitter feed.

Everything you want to know about App.net is here: http://en.wikipedia.org/wiki/Dalton_Caldwell

It's an interesting project!

For an "interesting project", the home-page communicates zero information: https://app.net/

So many words and yet I really have a hard time grasping why I'd ever want to use this thing.

If Wikipedia does a better job explaining the service than the service's own site it's in trouble. If there was no competition maybe, but there is, and everyone knows about it.