53

Reddit just turned a profit for the first time. As part of its third quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 million in revenue — a 68 percent increase year over year.

The company hasn’t been profitable at any point in its nearly 20-year history. Since going public, Reddit lost $575 million during its first quarter on the market, but it decreased that loss to $10 million last quarter and is now finally in the black.

Reddit’s advertising revenue grew to $315.1 million, while “other” revenue reached $33.2 million on account of “data licensing agreements signed earlier this year.” Both Google and OpenAI have cut deals with Reddit to train their AI models on its posts.

you are viewing a single comment's thread
view the rest of the comments
[-] PKMKII@hexbear.net 47 points 8 hours ago

Both Google and OpenAI have cut deals with Reddit to train their AI models on its posts.

Training AI to be even more racist and misogynistic, cool.

[-] UlyssesT@hexbear.net 20 points 6 hours ago

The planet-burning treat printers of the near future are going to also talk like passive-aggressive smug insufferable assholes. debord-tired

[-] vegeta1@hexbear.net 8 points 5 hours ago

Planet being razed and an obscene water used to produce coomer bots hahaha life is a damn joke

[-] corgiwithalaptop@hexbear.net 2 points 4 hours ago

For science!

I'm sorry, I couldn't resist

[-] MayoPete@hexbear.net 5 points 6 hours ago

As an AI language model you have to vote blue bucko maybe-later-kiddo

[-] SuperNovaCouchGuy2@hexbear.net 24 points 8 hours ago

Everywhere outside of silicon valley will enact a Butlerian Jihad and a full return to analog machinery within a week of OpenAI releasing their new insufferable redditor-trained chatgpt model.

[-] miz@hexbear.net 20 points 8 hours ago

it would be really beautiful to see people smashing waymo cars with crowbars and bats

[-] SuperNovaCouchGuy2@hexbear.net 14 points 7 hours ago

this is unironically a necessary step to take because the fucking US government wants to ramp up "intelligent" car production at the behest of car companies instead of investing in any form of mass public transport

[-] BobDole@hexbear.net 9 points 7 hours ago

Judith Butlerian Jihad against misogynist techbros and their creations

this post was submitted on 01 Nov 2024
53 points (100.0% liked)

technology

23239 readers
310 users here now

On the road to fully automated luxury gay space communism.

Spreading Linux propaganda since 2020

Rules:

founded 4 years ago
MODERATORS