Daily Archives: 2024-10-29

Reddit is profitable for the first time ever, with nearly 100 million daily users

Posted on 2024-10-29 by pappp

Source: The Verge - All Posts

Article note: Aw crap, they succeeded in entering the "value extraction" phase.
Pink text reading “reddit” with also pink portions of the Reddit alien’s head occupying the bottom right and top left corners of the image, the top one upside down, all on a black background.
Image: The Verge

Reddit just turned a profit for the first time. As part of its third-quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 million in revenue — a 68 percent increase year over year.

The company hasn’t been profitable at any point in its nearly 20-year history. Since going public, Reddit lost $575 million during its first quarter on the market, but it decreased that loss to $10 million last quarter, and is now finally in the green.

Reddit also grew to 97.2 million daily users over the past few months, marking a 47 percent increase from the same time last year. That number exceeded 100 million users on some days during the quarter, Reddit says.

Reddit’s advertising revenue grew to...

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Strava was used to locate the most powerful people

Posted on 2024-10-29 by pappp

Source: Hacker News

Article note: The same kind of stunt made the news in 2018, and it's pretty obvious that automatically posting your location data somewhere public means anyone who wants to can track you, not just nation-states squeezing it out of your cell phone provider. And, the Ukrainians just used the same trick to assassinate a Russian general. But, as ever, most people aren't going to think about electronic privacy.
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Linus Torvalds: AI is 90% marketing, 10% reality

Posted on 2024-10-29 by pappp

Source: Boing Boing

Article note: That seems about right, there are a handful of nifty and potentially useful things coming out of this AI Hype cycle. But most of it is useless gimmicks and executive FOMO.
Torvalds giving hardware vendor NVidia the finger at a 2012 talk.

The creator and lead maintaner of Linux says AI is 90% marketing, 10% reality. Linus speaks for a lot of us, I think! That it's marketed as "AI" in the first place is a good example of what he's talking about. — Read the rest

The post Linus Torvalds: AI is 90% marketing, 10% reality appeared first on Boing Boing.

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