Hi HODLers and Hiveans,
As you most likely I have been quite a big Reddit fanboy. I have become an avid user and investor. I believe they are the only social media platform that will be able able to compete with the Meta galaxy of apps!
If TikTok wasn't banned/restricted, it would be the main competitor.
I also bleieve that Reddit data is essential for AI models to stay relevant and up to date on consumer tastes and opinions.
They have done some deals with Google to let them use their data. I believe Google got a great deal for cheap!
The reality is that many other AI companies are still using their datas without disclosing it. And here we are, Reddit is suing Anthropic (Amazon backed AI).
Reddit said that bots deployed by Anthropic had obtained access to Reddit data more than 100,000 times in the past year, the company said in a lawsuit filed in the Superior Court of California in San Francisco County. Anthropic has benefited by using conversations from Reddit to train its AI algorithms, in violation of Reddit policies, the lawsuit alleges.
Good, they need to sue every AI bots taking advantage of the platform. Also, they need to renegotiate deals with Google and others ASAP as I believe they sold their data for too little $$$.
Reddit stock has been under pressure as most of its views are coming from non-logged in users who were doing Google Searches. With the rollout of the Google AI searches, less links are opened.
Nevertheless, the answer that Google AI is spitting out is often referring to Reddit posts which shows how relevant the platform is!
Reddit Stock
