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 2 years ago by DolphinMath@slrpnk.net to c/technology@lemmy.world
8 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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[–] empireOfLove2@lemmy.dbzer0.com 1 points 2 years ago

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!

[–] SlopppyEngineer@lemmy.world 1 points 2 years ago (2 children)

If selling all the data is early stages, I want to know what late stage monetization looks like. Pay a fee to get unbanned? Fines if the post gets down voted?

[–] Annoyed_Crabby@monyet.cc 1 points 2 years ago

Battle Pass maybe, since they already have subscription.

[–] uzay@infosec.pub 1 points 2 years ago (1 children)

Karma microtransactions

[–] skillissuer@discuss.tchncs.de 1 points 2 years ago

already done and with crypto at that

[–] SnotFlickerman@lemmy.blahaj.zone 1 points 2 years ago* (last edited 2 years ago)

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.

[–] Dariusmiles2123@sh.itjust.works 0 points 2 years ago (1 children)

I wasn’t really against Reddit when I left to go on Lemmy. It was mostly to try something which is luving because of its users.

Now I’m glad I did.

[–] finalarbiter@lemmy.world 1 points 2 years ago

Ditto. I left during the api stuff, but left my account in case they calmed down and realized it was stupid. The whole 'selling data for ai training' and actually filing for an ipo is what actually drove me to delete my 15 year old account today