Dalton Caldwell is a San Francisco entrepreneur who founded iMeem (a music-centric social network which was bought and then shuttered by MySpace) and Picplz (which lost the iPhone photo-sharing war to Instagram). Back on July 1, he published a blog post titled “What Twitter Could Have Been.” In it, he expressed dismay with multiple things about Twitter: Its advertising-based business model, its pushy attitude towards third-party developers and the poor targeting of its ads and trending topics.

A couple of weeks later, Caldwell decided to do something more ambitious than gripe: He published an “Audacious Proposal” for the creation of a service which would pretty much be Twitter the way Caldwell thought it should be.

Instead of making money from advertising, this service would charge its users. And instead of focusing on creating its own interfaces and apps, its primary purpose would be to provide feeds…

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