Despite having been founded in 2005, the S-1 notes that Reddit is “in the early stages of monetizing our business and there is no assurance we will be able to scale our business for future growth.”
Did they seriously just say “although our company start 19 years ago, we only able to start figure out how to make money, and if you buy our stock, we can’t guarantee our company will grow further and give you more profits.”
These are very common things for CEOs to say because if they give assurances and it doesn’t happen they get in trouble with the FTC.
If you see how often Reddit comes up in search results, you will understand the value of the data. Potentially the most valuable single source of information on the internet.
Of course, all of that means nothing as long as AI companies are allowed to suck up and regurgitate any publicly available info on the web for profit.
Having data means nothing if you can’t monetize it.
As you say, AI can already access it all completely for free with nothing more complicated than a web crawler. Long term, charging AI firms for access is not a viable strategy unless the law changes.
And they’ve been trying for years to monetize visitors through advertising and other schemes, and so far come up consistently short.
Did they seriously just say “although our company start 19 years ago, we only able to start figure out how to make money, and if you buy our stock, we can’t guarantee our company will grow further and give you more profits.”
Where’s the plan, Stevie?
Then why IPO? Lol.
Yes, we can’t make money and can’t grow. Invest pls?
To cash out
These are very common things for CEOs to say because if they give assurances and it doesn’t happen they get in trouble with the FTC.
If you see how often Reddit comes up in search results, you will understand the value of the data. Potentially the most valuable single source of information on the internet.
Of course, all of that means nothing as long as AI companies are allowed to suck up and regurgitate any publicly available info on the web for profit.
I beg to differ, there’s Wikipedia
I did say “potentially”. Wikipedia has a lot of factual information but no opinions or experiences or troubleshooting.
Having data means nothing if you can’t monetize it.
As you say, AI can already access it all completely for free with nothing more complicated than a web crawler. Long term, charging AI firms for access is not a viable strategy unless the law changes.
And they’ve been trying for years to monetize visitors through advertising and other schemes, and so far come up consistently short.
They’ve already monetized it.
Lying on an S-1 isn’t an FTC problem; it’s an SEC one.
Yeah that one thanks
Spez is trying to outfit his doomsday bunker and wants the cash.
AI.
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