Larry Sanger, a co-founder of Wikipedia, plans to launch a project called Digital Universe that will take advantage of public input for its content but rely on acknowledged experts to edit the submissions.
Material will be free, with subscription fees for access to copyrighted materials. Sanger has raised $10 million in start-up funding.
This strikes me as a silly idea and a move in the wrong direction. Wikipedia was found to be mostly accurate compared to its closed brethren. Wikipedia in my view is fine as it is. It has its issues and as time goes it will evolve and get better.
BTW: The Register has had a minor axe to grind against Wikipedia in its articles. :)