> The "product" is now selling data to LLM companies
Incorrect; 94% of Reddit's 2025 revenue came from advertising, it's right here on page 81 https://d18rn0p25nwr6d.cloudfront.net/CIK-0001713445/42e4fe7...
This is why Reddit is supposedly ending its licensing agreement with Google: when the latter shows AI snippets in its search results, Reddit misses out on advertising revenue, and Reddit has judged the Google juice to not be worth the squeeze.