this post was submitted on 19 Feb 2024
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That’s how little they got‽ Holy shit. That’s the steal of the fucking century for all that content. Reddit clearly puts the same stock in its negotiators as it does its 3rd party ecosystem. Anyone who values them more than maybe 2x this price for their IPO is a fucking idiot. Forget Trump’s Art of the Deal. spez needs to write a book.
Getting access to the massive backlog of user data over the last 15 years for a mere 60 million. I'm glad reddit shot themselves in the foot, I'd go delete my user data from reddit, but im sure they'll be crawling the backups as well.
Any AI company who buys more then a year is dumb.
Unless they're leasing the information every year, which would essentially make their ai dependent on the data, but that data is probably the best source to use on the internet. Also, without continuously using the most current comments and posts, the ai model won't be able to give any info about current events topics and such.
Pay $60m, back it up and scrape new content.
As now countlessly proven by all the lawsuits or potential lawsuits abound, it's still pretty easy to show what ai models were trained on. It's the entire reason a company is paying reddit for the data instead of scraping it in various ways (ways that were easier before reddit closed off their api). Maybe in a few years time they'll have it worked out to where there's no way to pick up on where an ai scraped it's data from, but they aren't there yet.