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Software Heritage (basically internet archive, but for software code)
(www.softwareheritage.org)
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My point is that you don't need a separate website for this; you can use existing software forge software and websites.
I can't archive the entirety of Github, Gitlab and many more services with all source code in all versions and metadata. And make it available to everyone at all times. This is not an effort to archive a few of my personal project, this is an attempt to archive every piece of software that can be archived. Otherwise do you not agree that the Internet Archive has a value archiving all the websites? This is similar, but for software code.
So it mirrors repos before they go down? I think I get it if that's the case; I thought it was just a host for "lost" software/source code in which case if you have a copy you can upload it to any software forge (if permitted by the licence). But if it's meant to contain all software that currently exists, even if it shows no sign of disappearing, that makes more sense.
Yes, that's basically it. It's a backup, with the intent of being the most comprehensive and secure backup, not controlled by a single company (other than this organization off course). As long as it gets funded by various sources, this should be available in the future. Hopefully.
Some additional personal thoughts: This should have better chances to archive than Internet Archive does, as they only archive content that is Open Source (as far as I know). And a reason why big companies fund this is probably they want to use it for Ai... just my speculation on my part...