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
104 comments fedilink hide all child comments
 

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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[–] redcalcium@lemmy.institute 23 points 8 months ago (3 children)

But back then Reddit still believed in opening up their platform, and their relation with their users was not adversarial. Their source code was even available on GitHub with an open source license! It didn't feel much different to us sending monthly donations to instance admins and Lemmy devs now on Lemmy. People genuinely didn't want Reddit to shut down back then.

[–] SnotFlickerman@lemmy.blahaj.zone 4 points 8 months ago

Oh, I totally agree about the time period, but it also shows why this is such a big slap in the face to the userbase from Huffman. It literally ignores that time period and acts like this is the first time they've tried to wring money out of their userbase.

[–] Ilgaz@lemm.ee 2 points 8 months ago

I keep saying that commercial, money making clients should donate 10% of their profit (or living money) to the server their user chooses. This is how FOSS services will survive.

[–] uis@lemm.ee 1 points 8 months ago (1 children)

Huuuh. Are there old repo clones floating around internet?