I took a long look at Facebook's instant articles, which seem to excite and terrify publishers in equal measure:
Here’s a scenario that may play out over the next year or so. Instant articles prove popular, driving significant new traffic and revenue to Facebook’s launch partners. More publishers join the platform, even modifying their publishing tools to let writers incorporate instant-article features into their stories. Meanwhile, traditional links shared on Facebook become less effective as readers migrate toward instant articles. Having hooked readers on instant articles — and publishers on the revenue they generate — Facebook starts taking an increasing percentage of ad revenue. What appeared to the media as a friendly tweak to the user interface was really a trap.