Speculation, with a ring of truth about it.

“Calacanis, we hear, has already hired about 20 engineers to work on the project. Roelof Botha, Calacanis’ patron at Sequoia, has already committed the funds. Former associates of Calacanis, such as Mark Cuban and Jonathan Miller, his former boss at AOL, are also backing the venture. So what’s the idea? It’s a cross between Wikipedia and Google. Calacanis’ new site will create more digestible search results for popular queries such as the names of Hollywood stars, and tech products. The pages will be seeded, initially, with content gathered automatically from the web and other sources. But they will be open to contributions by readers. Sounds like Wikipedia? Yes: except Calacanis will employ paid editors to oversee the pages“.

As commentators point out, that’s very Web 1.0.

Calacanis denies it…

  “I deny it 100%… it’s absurd. I do have a pool house however. “

…which will only serve to make the story more credible.