The hard part will be where to get all the storage from and having said storage still function 20 years from now. But I really like this idea, archive.org is immensely valuable but also very vulnerable to legal issues.

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I'm not so sure. Me storing 3 websites and you storing 5 doesn't require much storage at all, even if we take snapshots once a month. There are, however, other difficulties. Aside from copyright and other legal issues, the main problem is how to store dynamic or user generated content, or not so much how, but what. Take Google Maps for example. I may want to scrape a small area, say my home town, but I'm not going to scrape much else. But if you scrape your home town and others do the same, then we build an incomplete, but constantly improving capture. How does this get indexed by the search interface and what happens to the missing parts? Then we have stuff like our personal stuff, like Facebook (I know I said a swear word on here, but hear me out). There's nothing to stop me capturing my feed on a certain day, but I want to keep that private. That's an option within the capture settings, but what if I don't keep that private? There's all sorts of nuance that my agents are working through right now.