Reddit CEO blames Google AI Mode for $7B stock plunge; critic notes Reddit sold data for just $60M/year
CtrlAltDwayne · x · 2026-10-31
Reddit CEO Steve Huffman claims Google's AI Mode is the main reason Reddit lost roughly $7 billion in market cap in two days, saying "AI Mode does not drive traffic, not for us and not for anybody — it's a fundamental shift in how Google works." Critics push back: Reddit sold its data to Google in 2024 for just $60M a year, a bargain for Google in hindsight. "No crying in the casino."
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