I thought about this a while ago and came to the conclusion that if my goal wad to keep information private that's not the function of a social network. At best you'll find a different company to abuse you or a permanent decentralized network where attackers can scrape everything if they are ever let near your circle of friends.

If your goal is to simply have a better implemented social media network you will likely face a network effect problem where nobody is on that platform - I mean technically MySpace still exists.

Myspace seems to be a ghost town :'(

Diaspora seems to be the choice for this.

I tried it but none of my friends were ready to move on it. :(

If you want the network most people use, it's fb. I wouldn't worry about it. The worst thing that fb does with your data is to customize the ads you see.