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Motley Fool Hidden Gems Investing

Reddit CEO on Ads, AI, and Search Engines

Motley Fool Hidden Gems Investing

The Motley Fool

Investing, Business

4.33.1K Ratings

🗓️ 21 September 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

“Reddit” was one of the top ten most searched words on Google over the past twelve months in the United States, searched more often than “map” or “calculator”. The social networking site is a central hub for the internet. Dylan Lewis caught up with Reddit CEO Steve Huffman for a conversation about: - What’s driving Reddit’s 50% year-over-year user growth. - How the social network targets ads. - What Reddit is doing with large language models. Companies discussed: RDDT, GOOG, GOOGL Host: Dylan Lewis Guest: Steve Huffman Engineers: Rick Engdahl, Tim Sparks Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

But I will point out far and away the most common user written rule on

0:04.0

Reddit on a community written rule is some form of be nice be nice be civil be

0:10.2

respectful and they and they rate that for themselves they write that for themselves and they enforce it for themselves

0:19.7

I'm Ricky Malvee and that's Reddit CEO Steve Huffman.

0:23.0

Reddit is a social networking site.

0:25.0

If you haven't visited, it's broken up into communities or sub-retits for just about anything you can imagine.

0:30.0

News, sports, local food, hobbies, memes, it's more focused on conversation than other social networks, though.

0:36.0

My colleague Dylan Lewis caught up with Huffman for an interview about the state of

0:40.0

Reddit now that it's a public company. They discuss its ad business, what's driving

0:43.9

Reddit's user growth, and artificial intelligence, what the company can do with one of

0:48.5

the largest corpses of human conversation. We played a part of the interview on

0:52.3

Friday's syndicated radio show

0:54.0

it offers a higher level view of the business

0:56.0

and that's a great place to start if you're unfamiliar with

0:59.0

Reddit.

1:00.0

Today's show is a bit of a deeper dive.

1:01.0

Both pieces work together and neither show is a replay of the other.

1:09.1

I do want to dig in as some of the company numbers a little bit and talk through some of that.

1:14.0

I was impressed as a long time follower of the business to see the growth that you guys put up in

1:20.8

2024 because platforms have been around for a very long time.

1:25.7

The revenue growth of 50%, to me, not crazy surprising for where you guys are at and the

1:31.9

monetization story, the user growth story of 50% was a surprise.

...

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