Question 1

How is this different from Artifact, the app that Kevin Systrom and Mike Krieger accounced last week?

Accepted Answer

Hey Oscar, Artifact is still in private beta so I'm going off of partial info here, but from their public announcements it seems like their primary focus is on personalization. Kevin even referred to their product as "TikTok for text", and made it pretty clear that when they say "AI-based" they are specifically referring to the use of AI to personalize people's feeds in the same way TikTok does. Our focus is quite different - we apply AI primarily to content evaluation and filtering. While pe...

Question 2

Your pitch talks about the entire internet, but your product seems to be mostly news-centric. How do you plan to expand this from news to other types of content?

Accepted Answer

Hey Morgan, great question. The work we are doing - whether it's crawling and aggregating content, evaluating, filtering, sorting, presenting etc - is all universally applicable to all the content on the web. However, the news present a unique "case study" for our approach because people have a better intuitive sense of what a good news story looks like compared to a bad news story. There might be quarrels about left vs right, but there's a generally-accepted definition of where "up" is. Ever...

Question 3

If your summaries work so well, people have no reason to click through to the original articles, right? Are you worried about copyright claims?

Accepted Answer

Hey Dmytro, absolutely, we are always worried about copyright concerns and take "fair use" very seriously. This is why our summaries are abstractive, i.e. they do not include large excerpts from the original work; we don't include images or videos from the original work; we add additional elements (like a nutrition label) that transform the work; and we also link to the original, in a way that credits the author and allows the user to patronize the author's website. We believe that going abov...

Question 4

How do I check on the value of my investment, and can I cash out?

Accepted Answer

Hey Jodie, a SAFE note gets converted to equity in the company when we raise a priced round above a certain threshold. Startups like us tend to raise funds in multiple rounds, where ideally in each round our valuation is higher than in the previous one. So, when we raise the first priced round, you could see a certain return on investment right away - for example, if we raise the round at 18M and your valuation cap was 6M, each share you receive will immediately be worth 3X what you paid for ...

Question 5

What's the difference between investing as an early bird and investing after?

Accepted Answer

Hey Phillipp, thank you for your question! Early birds get a discount in the valuation cap that is listed on their SAFE note. If we translate this into simpler terms using an example - suppose we raise the next round at some valuation that is above the cap, and then we sell the company for $1B dollars next year (hypothetically). An investor who put his money in as an early bird, will have a return on investment of: 1B/6M = 167X An investor who put his money in after the early bird period ende...

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