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Reddit is profitable for the first time ever, with nearly 100 million daily users (www.theverge.com)

submitted 1 month ago by alyaza@beehaw.org 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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[–] Kichae@lemmy.ca 21 points 1 month 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.

[–] BCsven@lemmy.ca 2 points 1 month 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

[–] SturgiesYrFase@lemmy.ml 2 points 1 month ago

I never was arguing against that. Also I'm pretty sure their moral compass was pushed by the feds until he topped himself, so nothing about their bullshit has surprised me since.