this post was submitted on 23 Feb 2024
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Reddit: 'We Are in the Early Stages of Monetizing Our User Base' (www.404media.co)
submitted 8 months ago by DolphinMath@slrpnk.net to c/technology@lemmy.world
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Reddit said in a filing to the Securities and Exchange Commission that its users’ posts are “a valuable source of conversation data and knowledge” that has been and will continue to be an important mechanism for training AI and large language models. The filing also states that the company believes “we are in the early stages of monetizing our user base,” and proceeds to say that it will continue to sell users’ content to companies that want to train LLMs and that it will also begin “increased use of artificial intelligence in our advertising solutions.”

On Wednesday, Reuters reported that Reddit has entered a contract with Google, which will license its content for $60 million a year in order to train Google’s AI models.

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[–] empireOfLove2@lemmy.dbzer0.com 102 points 8 months ago (2 children)

company exists for 19 years.
is still in the "early stages" of figuring out how to even make money.

Yup, that is DEFINITELY a solid buy for institutional investors during the ipo!

[–] undercrust@lemmy.ca 9 points 8 months ago (2 children)

figuring out how to even make money

Which, to be crystal clear, they have never accomplished

[–] ikidd@lemmy.world 10 points 8 months ago

Paying pigboy 193M wasn't a great first step.

[–] empireOfLove2@lemmy.dbzer0.com 6 points 8 months ago

They do actually make money, they just give it all to Spez. Literally.

[–] altima_neo@lemmy.zip 1 points 8 months ago (1 children)

And then they disclose both their users and Huffman are volatile and pose a risk.

[–] empireOfLove2@lemmy.dbzer0.com 1 points 8 months ago

it's like they want everyone to know they are the worst investment in the history of investments or something lol