this post was submitted on 09 Jun 2023
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I feel like this move has nothing to do with investors and everything to do with setting the standard for big corps like Microsoft and Google to be able to scrape their massive amount of data to train next gen AIs. They know they have HUGE amount of data from now and for years and years ago. Content, created by others, then sold for enormous profit.
Interesting. I wonder if they already got an offer that matches their new API pricing, and they decided to up everything to match that cost and avoid being sued later.
Like, there seems to be some urgency between them announcing and upping the price. What was it? Is this the reason? A confirmed, extremely wealthy and extremly naive buyer?
The API pricing likely has something to do with the revenue per user calculations. Reddit is aiming for IPO but their valuation tanked over the past two years. That might be why the admins have decided to strong arm this with such a short notice.