"Wikipedia co-founder Larry Sanger is to launch an alternative to the utopian, all-comers, anything-goes web site, and has raised $10m to hire experts to help edit it."

(The article correctly notes that one big question is how Larry's new venture will avoid the problems of the prior Nupedia, which generated very few articles, arguable due to the cumbersome editorial review process. Some additional background on the philosophical split between Larry Sanger and Jimmy Wales about Wikipedia can be found here.)