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Reddit is profitable for the first time ever, with nearly 100 million daily users (www.theverge.com)
submitted 2 years ago by [M] to c/technology@beehaw.org
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Reddit’s advertising revenue grew to $315.1 million, while “other” revenue reached $33.2 million on account of “data licensing agreements signed earlier this year.” Both Google and OpenAI have cut deals with Reddit to train their AI models on its posts.

In a letter to shareholders, Reddit CEO Steve Huffman attributed the recent increase in users to the platform’s AI-powered translation feature. Reddit started letting users translate posts into French last year before expanding to Spanish, Portuguese, Italian, and German. Now, Huffman says Reddit plans to expand translation to over 30 countries through 2025.

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[–] 77 points 2 years ago* (last edited 2 years ago) (5 children)

Well and behind it is stealing other peoples' work (posts and comments, moderation and administration) and selling them as yours. The oldest capitalist criminal trick in the book: privatization AKA primitive accumulation AKA enclosure of the commons.

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  • [–] 15 points 2 years ago (4 children)

    I mean, to be fair, I'm nearly positive that the Reddit T&Cs will have said they retain rights to anything posted there for ages. And the AI bubble is already showing signs of deflation or bursting coming not too far down the line. Let them enjoy their first and hopefully only profitable year.

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  • [–] 22 points 2 years ago (2 children)

    No one is arguing that they don't have the legal right.

    But they believe they have the moral right, and they do not.

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  • [–] 2 points 2 years ago

    It doesn't really matter because there is not much content to train AI on in a worthwhile manner. The huge amount of content is mostly hostile retorts, and sarcastic meme banter. AI will be a mess after training on that

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  • [–] 3 points 2 years ago

    A few years ago I started a blog where I can post lengthy stuff instead on Reddit. To have more control over my own posts and without the mercy of Reddit or any moderator. Little I did knew this was the best decision I could make, after I saw what happened after Ai hype. (I'm not much active, but still, the principle counts.)

    Anyone deleting their content there thinking this will avoid selling to Ai is probably a mistake. Because now Reddit can sell those deleted content from their backup (I assume they have backups...) and no normal user can access the information anymore, which hurts the normal users even more than any Ai or Reddit.

    I encourage everyone to start a blog and at least post the deleted stuff there for future access. At least you have more control this way.

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