Kevin Systrom and Mike Krieger, co-founders of Instagram, have announced the winding down of their AI-powered news aggregator app, Artifact, after a year of operation. The main reason behind this decision is the realisation that the market opportunity for the app wasn't significant enough to justify further investment.
In a blog post, Systrom, who is also the CEO of Artifact, stated the importance of recognising when a startup should make tough decisions. He highlighted that it's crucial to acknowledge when an opportunity isn't as large as expected, allowing the team to focus on newer and more impactful ventures that can reach a broader audience.
Changes in Artifact's Features
Artifact, recently honoured as the "everyday essential app of the year" by the Google Play Store, will undergo some changes. The ability to add new comments and posts will be removed, citing the need for moderation and oversight, which the team won't be able to support going forward. However, existing posts will remain visible on user profiles.
Continuing News Reading Capability Temporarily
Artifact plans to maintain its core news reading capability until the end of February. Despite the app's closure, Systrom expressed concerns about the current state of news publications, with many shutting down or facing challenges. He hopes that technology can play a role in preserving, supporting, and growing these institutions, particularly using advancements like AI for scalability.
Shutdown Amid News Aggregator Slowdown
The decision to discontinue Artifact reflects a wider trend, as other news aggregators experience a decrease in usage.
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