So the backlash has begun against Summly, and its wonder boy creator, 17-year old Nick D’Aloisio. Of course, who wouldn’t be jealous of a 17-year old multimillionaire? But it seems a majority of this criticism could be justified.
Update: Was Yahoo’s purchase a smart publicity stunt? PRNewser looks into it.
If you haven’t heard by now, Summly–the app which summarizes news stories into a shortened browsing format–has been sold to Yahoo for $30 million. And if you’ve been following Summly news, you probably know this transaction makes the 17-year old creator Nick D’Aloisio one very rich teen.
Putting aside petty jealousy, Summly has the potential to change the way we consume news. The app uses an algorithm which shortens news stories into easy to read summaries, and allows for broader–and more absorbable–news consumption. It’s smart and it makes sense, especially in the digital age of media overload.
Yahoo has been on an app shopping spree as of late, scooping up Jybe (start-up for personalized recommendations), Stamped (allows users to share favorite things), OnTheAir (allows webinars to be watched via live stream), and Snip.It (a pinterest meets news startup). They also have big plans for D’Aloisio, since they didn’t stop at just buying his app–they’re also hiring him.
You may have head about the increasing utilization of algorithms to benefit (or streamline) our daily existence, adding efficiency to just about every task we do. Used heavily on the stock market, they’re proved to be a risky–and unpredictable–tool to increase financial returns, and now they’re being used to tell us today’s news, efficiently of course.