I started a post about App.net today but Rob at gridwriter beat me to it (and said it better than I could anyway).
I have been increasingly worried about Twitter's halting attempts at monetization and threats to remove third-party app API access. As much as I love what the service has become, it's hard to deny that it was something special a few years ago, which I still consider its heyday. I understand what they're going through -- trying to turn a project into a business -- but Dalton Caldwell seems to be starting things up with app.net the right way.
He's asking for the upfront capital to fund a new social "service" that will be similar to Twitter but without all of the stuff that I hate about Twitter. And the funding acts as a bozo filter in a lot of very handy ways (banning, casual account creation, accountable commentary, etc.)
Read Write Web posted a nice article about app.net today and I'm hoping that it gains steam and hits the goal. Of course, once the goal is hit, getting the traction in the market is another thing altogether. Luckily, it already has the buy-in of some of the best known technorati and I'm hoping that their support helps it take off.
Dalton's twitter account has been posting interesting tidbits and he has been allowing a few people in for alpha access here and there.
Check it out. I'm a backer for the same reasons as Rob -- I think it's a great idea and I don't want a great idea to fail when I can play a small part in making it a reality.