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Jack Dorsey. Photo: Chesnot/Getty Images

Twitter CEO Jack Dorsey tweeted on Wednesday that his company is funding an effort to build an open source, decentralized social network that Twitter would ultimately become one of many services users could interact with.

Why it matters: It's a bold move that could broaden the reach of Twitter's network, but it could also open the door for direct competitors. Plus, similar efforts in the past have struggled to take off.

Details: In a pair of tweets, Dorsey offered a few details on the effort, which it is calling BlueSky.

"Twitter is funding a small independent team of up to five open source architects, engineers, and designers to develop an open and decentralized standard for social media," Dorsey said. "The goal is for Twitter to ultimately be a client of this standard."

Asked to elaborate, Twitter offered a short statement:

"We’ve long demonstrated our commitment to doing critical work in the open and empowering people to build off of the fundamentals of our service. Apart from the technical elements outlined by Jack today, this is about exploring the fullest and most participatory vision of our service. In 2020, we will be raising our voice more prominently to support and foster these values. We’re excited to share more."
— Twitter statement to Axios

Go deeper

Democrat Mark Kelly sworn in to U.S. Senate

Photo: Courtney Pedroza/Getty Images

Astronaut Mark Kelly (D) was sworn in to the U.S. Senate on Wednesday after defeating incumbent Sen. Martha McSally (R-Ariz.) last month for the seat once held by the late Sen. John McCain.

Why it matters: Kelly's swearing-in by Vice President Mike Pence narrows the Republican majority and moves the Senate balance to 52-48.

Senate Armed Services chair dismisses Trump threat to veto defense bill

Sen. Jim Inhofe. Photo: Anna Moneymaker/Pool/AFP via Getty Images

Sen. Jim Inhofe (R-Okla.), chair of the Senate Armed Services Committee, told reporters Wednesday that he plans to move ahead with a crucial defense-spending bill without provisions that would eliminate tech industry protections, defying a veto threat from President Trump.

Why it matters: Inhofe's public rebuke signals that the Senate could have enough Republican backing to override a potential veto from Trump, who has demanded that the $740 billion National Defense Authorization Act repeal Section 230 of the Communications Decency Act.

Scoop: Uber in talks to sell air taxi business to Joby

Illustration: Sarah Grillo/Axios

Uber is in advanced talks to sell its Uber Elevate unit to Joby Aviation, Axios has learned from multiple sources. A deal could be announced later this month.

Between the lines: Uber Elevate was formed to develop a network of self-driving air taxis, but to date has been most notable for its annual conference devoted to the nascent industry.