I've stopped using mine, removed all apps, unfollowed (er, unliked?) all pages. I'd guess the market is ripe for a fb-type site that, for lack of a better phrase, isn't evil. And doesn't have a horrible ux.
What features should it have? (Or not have?)
Should: - Be able to export all friend/contact information anytime. CSV is fine.
- Be able to _easily_ block/remove applications & notifications. It's fine people can create "which star trek appliance are you?" quizzes, but let's make it _easy_ for these to be removed from my feed if I don't want to see them.
- Maybe have a more twitter style follow where it does not need to be a mutual follow. Obviously less information is shared if I don't follow back; etc. Just pondering this, it might or might not be better.
I actually don't think there's _that_ many things. There are a few key things that, if done right, would make it a better facebook. I'm just stabbing in the dark though.
Can this post be considered a YC application? ;-)