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.

  • AlteredStateBlob@kbin.social
    1·
    9 months ago

    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.

  • Snot Flickerman@lemmy.blahaj.zoneEnglish
    1·
    9 months 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.

    • athos77@kbin.social
      1·
      9 months ago

      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.

  • Dariusmiles2123@sh.itjust.worksEnglish
    1·
    9 months ago

    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.worldEnglish
      1·
      9 months 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

  • empireOfLove2@lemmy.dbzer0.comEnglish
    1·
    9 months 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!