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Reddit: 'We Are in the Early Stages of Monetizing Our User Base' (www.404media.co)

submitted 8 months ago by [email protected] to c/[email protected]

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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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[–] [email protected] 296 points 8 months ago* (last edited 8 months ago) (33 children)

Remember when Reddit had a daily donation goal to cover "site maintenance costs?"

They already monetized their fucking users, they've had users straight handing them money for fucking years now (sometimes for basically nothing in return!), but that's never enough for these god damned vampires.

[–] [email protected] 193 points 8 months ago (17 children)

You know how spez was bitching about how reddit never made a profit? Yeah, now we know why. You know what his compensation was last year? $193,000,000. Fuck that arrogant prick.

[–] [email protected] 60 points 8 months ago (6 children)

Excuse me, WHAT THE FUCK? 193 MIL?

[–] [email protected] 86 points 8 months ago

Yeah, and they gave the COO like another 93 million. Yet somehow we're the "landed gentry".

https://www.thedailybeast.com/reddit-files-to-go-public-reveals-that-it-paid-ceo-dollar193-million-last-year

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