There is clearly nothing wrong with Facebook making money, as all business has to do. What IS clearly wrong is when our privacy, our personal information, our digital lives are being subjugated for the sake of profit, without us having any meaningful capability to opt out, or even know the extent of such activity.

Is there another option? What are our alternatives? If we don’t like what Facebook is doing, what can we do about it?

Well, herein lies the problem. There are NO serious alternatives at this time. For every Coke there is a Pepsi, for every Ford there is a Chevy, for every PC there is a Mac and for every Facebook there is…. a void! Facebook has such overwhelming power that practically no one believes that trying to build an alternative is possible.

DFJ Managing Partner Josh Stein wrote in a tweet: “Incredibly excited to be an investor in Altly, my third adventure with @dmitry.” Some of Shapiro’s previous companies include Veoh and Akonix.

[AllThingsD]

UMG failed to show an appropriate rebuttal of Veoh’s proactive removal of copyrighted material. Universal said that the ruling was “wrong” and that they plan to appeal. “The balance between copyright holders and technology that Congress sought in enacting the DMCA has been upended by this decision,” stated Universal Music. The Veoh vs. Universal Music lawsuit was closely watched by media companies because Viacom has a pending lawsuit against Google over copyright material being uploaded on YouTube.

Dmitry Shapiro, the founder of Veoh said that the lawsuit was costly and dragged on for two years. Veoh has venture funding from Goldman Sachs, Time Warner, Spark Capital, Intel, etc.

Veoh raised about $70 million in total funding and is not profitable as of yet, but they expected to be by the second quarter of 2010. Veoh is exploring the possibilities of either selling themselves or raising additional investment.