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's filing with the SEC makes clear that training AI with user posts is a core part of Reddit's new business model.
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.
If you are in the EU file a complaint under the GDPR with your supervisory authority. They are processing data of people and especially children here that they have no right to at all. Users were not informed, no opt out, nothing. This is extremely illegal in the EU. Not to mention all that data on special categories like health data, sexual orientation ,ethnicity, etc. Etc.
At each new monetization stage, we should once more advertise Lemmy.
Late stage capitalism
Reddit notes that it’s screwed if moderators decide they no longer want to do this free labor, and notes that last year the company’s decision to change its API policies caused many of them to do exactly that.
A lot of the good mods already walked back in July. Wonder what it'll take for most of the rest to throw in the towel.
404 Media – Bias and Credibility
Bias Rating: Left-Center
Factual Reporting: Mostly Factual
Country: USA
MBFC’s Country Freedom Rank: Mostly Free
Media Type: Website
Traffic/Popularity: Medium Traffic
MBFC Credibility Rating: High Credibility
*milking our userbase
"We are in the late stages of having a user base"
This might be the first stock I ever short.
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