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The Reddit logo is displayed on a smartphone with Reddit visible in the background in this photo illustration. Taken in Brussels, Belgium. On March 17, 2024.

Jonathan Raa / Sipa USA via Reuters

Reddit raising eyebrows

The social media website Reddit is set to go public on March 21 at a valuation of $6.4 billion. But new AI-related troubles are brewing for the company.

The US Federal Trade Commission launched an investigation into Reddit’s practice of licensing its user data to AI companies, according to a regulatory filing by the company. On March 14, Reddit was informed of the FTC probe “focused on our sale, licensing, or sharing of user-generated content with third parties to train AI models.” The company said it’s not surprised by the inquiry due to the “novel nature of these technologies and commercial arrangements.”

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GameStop stock rally gives policymakers opportunity for legislation
GameStop Stock Rally Gives Policymakers Opportunity For Legislation | US Politics :60 | GZERO Media

GameStop stock rally gives policymakers opportunity for legislation

Jon Lieber, who leads Eurasia Group's coverage of political and policy developments in Washington, offers insights on US politics:

First question. Stonks! Will the GameStop stock rally result in new regulation on Wall Street?

The answer is probably, but the interesting thing is, we have no idea what form that regulation might take. The interesting thing about this storyline around GameStop is that the run-up in prices, driven by social media chatter on Reddit, against hedge funds who had shorted the stock, opens up a whole can of worms for how you want to solve the issue, and is most likely going to be an outlet for members of Congress preexisting biases. If you want to regulate hedge funds, well, here's an excuse to do so. If you want to implement a financial transaction tax, this is your opportunity. If you're concerned about consumer protection, data privacy, this could be a hook to get into those issues as well. So, this is a headline grabbing event that's probably going to fade out of the news in a week or so, but it's going to stay relevant to policymakers for several more months, could potentially result in new legislation, or new regulation from the SEC based around investor protection and market structure. So, stay tuned. We're going to be hearing about GameStop for a long time.

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