Like any company, Reddit reports quarterly earnings, and its CEO, Steve Huffman, addresses investors during those reports. It\u2019s not always about just sharing numbers, though: This quarter, Huffman took the opportunity to voice concerns and criticisms about Google\u2019s AI Overviews feature, which automatically summarizes search results on most user queries.<\/p>\n
First, there was a letter to investors<\/a>, wherein Huffman spun his narrative about Reddit\u2019s value proposition and general strategic direction amid the proliferation of AI tools.<\/p>\n He wrote:<\/p>\n As the internet becomes flooded with synthetic content, people are craving real human perspective. We are the antidote to an automated web. AI compresses the internet into summaries. Reddit delivers the opposite: deep discussions, passionate debates, and lived experiences. People don\u2019t want a summary of Reddit; they want Reddit.<\/p>\n The letter also said:<\/p>\n As AI makes information more abundant, the challenge is no longer finding content\u2014it\u2019s finding context, personal opinion, and first-hand accounts. Everything online feels flat, polished, generated, or sponsored, so consumers are overwhelmed and increasingly skeptical. We\u2019ve never had more information, but we\u2019ve never trusted it less.<\/p>\n And then, in comments around the earnings report, he added<\/a>:<\/p>\n What we see is, 10 blue links has driven tremendous value and growth to the broader ecosystem\u2026 from where we sit, AI Overviews has yet to make a similar level of positive impact, and I think that\u2019s consistent across the broader landscape, right? As businesses, publishers, retailers, we\u2019re still looking for that win-win.<\/p>\n To add context to these statements, Reddit has long had a relatively lucrative ($60 million) licensing deal with Google, but Reddit is considering ending that deal, according to a Wall Street Journal report<\/a> from earlier this month. The report also said that several prominent publishers are considering similarly cutting ties with Google, including The Economist, Reuters, Politico, and USA Today. (Reddit also has a deal<\/a> with OpenAI.)<\/p>\n