The Federal Trade Commission is looking into Reddit’s AI licensing deals, the company disclosed in paperwork filed with the Securities and Exchange Commission.
  • General_Effort@lemmy.worldEnglish
    63·
    8 months ago

    The FTC is worried that the big tech firms will further entrench their monopolies. They are doing a lot of good stuff lately; an underappreciated boon of the Biden Presidency. Lina Khan looks to be really set on fixing decades of mistakes.

    I guess they just want to know if these deals lock out potential competitors.

    • nexussapphire@lemm.eeEnglish
      20·
      8 months ago

      Good, it’s about time the ftc grew a few teeth to fight with. They’ve been toothless for way too long.

  • Docus@lemmy.worldEnglish
    515·
    8 months ago

    Poor spez. If it wasn’t for bad luck, he’d have no luck at all.

  • voluble@lemmy.worldEnglish
    25·
    8 months ago

    Just kind of dawned on me while looking at the number, Reddit’s licensing deal with Google is valued at $60 million per year. That’s really not very much money at all, considering the amount of data Reddit has and continues to accumulate. And chump change for Google, no doubt. Reveals how little leverage Reddit actually has at this point. This was their flagship deal, and the best they could get was $60mil per year.

    Also puts the API fiasco in a new light. “Look, we need to charge for API calls, because we need to restrict public access to data as a precondition of selling all your shit in a few months to Google, for the financial equivalent of a cup of coffee.”

    • can@sh.itjust.worksEnglish
      71·
      8 months ago

      What a fuck you to the community that is. So glad I left and never looked back.

    • TheFriar@lemm.eeEnglish
      5·
      8 months ago

      Well Reddit also got boosted search results in google. Their traffic jumped up by like 60%.

    • mosiacmango@lemm.eeEnglish
      54·
      8 months ago

      This FTC is really aggressive, so this is literally true, not just sarcasticly true.

      They aren’t hitting every pitch, but they are swinging a lot, and hard at that.

      • empireOfLove2@lemmy.dbzer0.comEnglish
        42·
        8 months ago

        And more importantly, any indication of impending regulatory action tends to spook away investors who might not want to be on the hook for fines and forced changes to the business model that affect profitability. Yet another staple in the rotting cardboard casket of Huffman’s favorite piggy bank.

        • pivot_root@lemmy.worldEnglish
          181·
          8 months ago

          Yet another staple in the rotting cardboard casket of greedy little pig boy’s favorite piggy bank.

          FTFY.

          He also 110% deserves to have his darling little piggy bank IPO ruined after the bullshit, lack of communication, and steamrolling pulled with the API fiasco.

      • laxe@lemmy.worldEnglish
        7·
        8 months ago

        Lina Khan is taking her role seriously. She needs more time though, let’s hope she’ll have it.

  • db2@lemmy.worldEnglish
    242·
    8 months ago

    Maybe a few years in the clink will teach Steve a little humility.

    • ripcord@lemmy.worldEnglish
      52·
      8 months ago

      Man wouldn’t something like that be nice

      Would never ever ever happen.

      I mean, assuming he actually broke laws. I wouldn’t want the government to be just arbitrarily locking people up

  • Jordan117@lemmy.worldEnglish
    171·
    8 months ago

    Does this have any impact on the IPO? Would they have to delay it (again)?

  • BetaDoggo_@lemmy.worldEnglish
    9·
    8 months ago

    I feel like the whole Reddit AI deal is a trap. If any real judgment comes down about data use Reddit is an easy scapegoat. There was basically nothing stopping them from scraping the site for free.