this post was submitted on 17 Feb 2024
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$60m doesn't seem like that much in an era where twitter could (have been) sold for $40b.
60 million a year for access to the relatively public data... That seems pretty good to me tbh.
Maybe, but with people are saying reddit's main value proposition is access to AI training data, and that reddit is worth n billion dollars, $60m seems like a pittance.
Its just an API, right?
No, it's really not.
Firstly, while the data may be public, it's not "free". Scraping reddit and using it to train an AI would likely contravene their terms of use, you'd end up facing similar copyright issues that the current generation of bots has.
Secondly, scraped data would be incomplete, you wouldn't get anything edited or "deleted", which would surely be available if you paid them. The edits and deletes would be very valuable for AI training.
Thirdly, you would get the meta that reddit has. Geolocation, user agent, alt accounts, browsing habits, et cetera.
Fourthly, you wouldn't get exclusivity. Locking out a competitor is worth something.
Idk why you are talking about scraping when I said API?
And is all that information in the training contract?
I assumed that when you said "it's just an API" you were saying you're paying $60m for an API as opposed to scraping for free.
Is all what information in the training contract?
$44B was a bad deal, good luck looking for another Elon Musk 😜