Reddit: 'We Are in the Early Stages of Monetizing Our User Base'
Reddit: 'We Are in the Early Stages of Monetizing Our User Base'
Reddit: 'We Are in the Early Stages of Monetizing Our User Base'
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.
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.
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.
But the mods are landed gentry. The gall
Excuse me, WHAT THE FUCK? 193 MIL?
I can't understand how investors would fall for this. For the sake of humanity and my own mental health I hope they don't. But I have a suspicion they will, and it goes to shows how fucked up the world is.
All I see is these fake fucks with no fangs tryna draw blood from my ice-cold veins.
Hmmm…I smell a massacre. Seems to be the only way to back these bastards up.
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.
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.
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.
Huuuh. Are there old repo clones floating around internet?
Remember those paid rewards too, under which it was written that they are, eh, the monetization.
You mean the paid awards in September they just got rid of because Fuck Users?