Link to source code: https://github.com/facebookresearch/fastText

The big result here is the 15,000x speedup compared to a neural network, and which increases as the size of the dataset increases. But this doesn't mean neural networks are worthless. From the paper:

Although deep neural networks have in theory much higher representational power than shallow models, it is not clear if simple text classification problems such as sentiment analysis are the right ones to evaluate them.