O reddit, famous social media site, is entering a new phase. It recently announced that it is starting to charge third parties for access to its application programming interface, or API, which has caused some media backlash.
Reddit API data was used to train some of the most popular chatbots on the market, including google bard, O ChatGPT by OpenAI and the Microsoft's Bing Chat.
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Interestingly, new chatbots based on large language models were trained using data from social media sites; however, Reddit is the first platform of its kind to charge companies for this data.
In an interview with the New York Times, Reddit co-founder and CEO Steve Huffman underscored the importance of data on the social media site, saying, “More than More than anywhere else on the internet, Reddit is a home for authentic conversations... There are loads of things on the site that you would only say in therapy, or A.A., or Never."
This highlights the value Reddit places on its data and its community of authentic and genuine users.
Millions of active users on Reddit
According to Huffman, CEO of Reddit, it is crucial to use new and relevant data. And did you know that the platform has more than 430 million monthly active users, who regularly participate in more than one million special interest communities?
Amazing, isn't it? Recently, the New York Times reported that two major language models, ChatGPT and Bard, were trained on Reddit data.
And the best part is that the developers were able to process this data in a structured and organized way thanks to the Reddit API. The result was impressive!
Reddit and companies like Microsoft and Google have a cooperative relationship to collect data and provide accurate search results to their users.
And Reddit benefits by appearing in search rankings and attracting more visitors to its platform.
Reddit decides to restrict companies' access
The platform decided to restrict the access of large chatbot companies to their data.
According to Reddit CEO Steve Huffman, the platform's corpus of data is too valuable to be given away for free to big companies. But that doesn't mean that developers who create apps that improve the user experience can't use them for free.
The Reddit API will be available to anyone who wants to use it in this regard. For the time being, prices for third-party accesses have not yet been disclosed. What did you think of this decision?
