Other than MySQL and XAMPP, what would I need to use Elgg to create my own Social Media Network?

What hardware, how much storage? Do I download and install Elgg to a desktop PC or directly to a server?

I would like my Social Network to make posts with like, share, comment and send functions, photo sharing, video streaming and sharing, free or premium art gallery (or online art museum with a paid ticket and royalty system), easy content monetization, no ads or customer tracking, no selling the customer, their data or meta data.

I am pretty dissatisfied with Facebook and similar sites cause of Big Tech and the Silicon Valley and their practices, and I would like to start my own platform that isn't controlling, biased or anti competitive or anti consumer.