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 1 year 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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[–] SnotFlickerman@lemmy.blahaj.zone 295 points 1 year ago* (last edited 1 year 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.

[–] redcalcium@lemmy.institute 23 points 1 year ago (4 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.

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

Huuuh. Are there old repo clones floating around internet?

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