There have been countless attempts to 'own email', and before that, 'own Gopher' and 'own Archie' and so on. There was, once, Hotmail. Then came GMail, and then .. Facebook.
It's quite possible to maintain your own social network with email alone. You can achieve the same results with a mailing list as you can with the Facebook timeline.
The only difference is that you must educate the people in your network to understand how the technology works, and how to operate it in order to function in as effective a manner as is required to maintain a high standard of communication. The fact that this is nearly impossible in the modern context - that you cannot get a group of 200+ people to operate email in the same, standardized manner, is what Facebook - and other mass-communication media - depend upon in order to gain their market share.
I would abandon Facebook in 5 minutes if I could be guaranteed that the people I care about - the links in my social network - were as competent at handling the solution as would be required in order to maintain the quality of communication that Facebook currently delivers. Alas, this is not possible - and those who are attempting to monetize and profit from this mass stupidity will do little to address the issue - for after all, it matters that people don't know how to write a proper email. This is the only reason Facebook has survived as long as it has.
If you want to truly revolutionize communications in this day and age, do something that allows people to use the existing, free, technologies of communication to increase the quality of communication among the masses. Alas, this is a very difficult problem - and like all social ills, the solution is education. The absolute hardest problem there is to solve, out there, today: teaching someone how to use an existing technology to effectively communicate.