Matthew Prince

Those of us who have, you know, a little bit of gray hair, been around around a while, you know, kind of sometimes long for the Internet of old, which was more local, more unique, more creative, more quirky.

And that, you know, you would stumble across things that were that were, you know, super, super interesting.

What gives me hope is it turns out that what AI companies value is more unique, more local, more original, more quirky.

And the best example of this is who is it that has struck the best deal with the AI companies?

And the answer is Reddit.

Reddit and the New York Times, if you add up their total catalogs, have about the same number of tokens in them.

The New York Times has obviously been around a lot longer.

Reddit produces more on a daily basis.

But it's roughly the same.

And yet the publicly available deal that we know that Reddit did versus the publicly available deals that we know that the New York Times has done, Reddit got about seven times more per token than the New York Times.

And the question is why?

And I think the answer is exactly what you said, which is I love the New York Times.

I think they're a great media organization.

I love the Wall Street Journal.

I think they're a great media organization.

And so is the FT and so is the Washington Post.

And so is, you know, a lot of different newspapers that are out there.

But the differences between them are actually relatively de minimis.

And you might say, well, you know, the New York Times is more liberal and the Wall Street Journal is more conservative.

But it turns out that if I take, you know, OpenAI, ChatGPT and train it on the Wall Street Journal and then say, OK, give me these stories.