Almost five years ago, Saoirse "boats" wrote "Notes on a smaller Rust", and a year after that, revisited the idea.
The basic idea is a language that is highly inspired by Rust but doesn't have the strict constraint of being a "systems" language in the vein of C and C++; in particular, it can have a nontrivial (or "thick") runtime and doesn't need to limit itself to "zero-cost" abstractions.
What languages are being designed that fit this description? I've seen a few scripting languages written in Rust on GitHub, but none of them have been very active. I also recently learned about Hylo, which does have some ideas that I think are promising, but it seems too syntactically alien to really be a "smaller Rust."
Edit to add: I think Graydon Hoare's post about language design choices he would have preferred for Rust also sheds some light on the kind of things a hypothetical "Rust-like but not Rust" language could do differently: https://graydon2.dreamwidth.org/307291.html
You mean a interpretative language with similar role to Python, but more like Rust/C++ style? I actually want that so that I can ditch Python even if I learned it and use this instead.
Not necessarily interpreted, but possibly. I think a more likely path is something like Go that's compiled but still has a garbage collector.
If you use a garbage collector the whole borrow checker would not make any sense.
Do you want to have error handling and functional paradigms in go? I think you should start there and ask go Devs why their language is lacking such basic stuff.
Did you read the original "Notes" post? I thought it did a pretty good job of explaining why Rust-like ownership semantics are not necessarily at odds with having a garbage collector.