this post was submitted on 17 Jun 2023
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Breakingviews - Reddit’s golden geese foul up its IPO plans (www.reuters.com)
submitted 1 year ago by greenfish@lemmy.one to c/reddit@lemmy.ml
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[–] Hellsadvocate@kbin.social 0 points 1 year ago (1 children)

Huffman deserves credit for thinking like an investor. Some third-party apps using Reddit content make money, which an owner of the still-unprofitable Reddit would probably prefer to share. A bigger target is artificial intelligence companies such as OpenAI that create value by scraping Reddit’s forums to hone their own products. Huffman’s plan would shut off that free-data spigot.

Seriously? Way to go capitalism.

[–] HopeOfTheGunblade@kbin.social 1 points 1 year ago

It's also just wrong. RIF had a profit sharing agreement. Huffman killed it.