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The Value of UGC Data in AI
The companies that are going to succeed are either the ones who have all the data in-house, which is actually a long-term bullish thing for Snap on the visual side. If you're Reddit, it's like, you've got to pay me for this. You can't just take this. And Reddit wants to go public, maybe potentially at the back half of this year. I wouldn't be surprised if this is a huge part of their going public narrative: We're this valuable data source for this new wave of AI companies.