Magic Markets #298: Did Google break Reddit (and the internet)?
Show notes
The internet has changed. A lot.
Those AI citations? They aren't leading to clicks, at least not according to Reddit CEO Steven Huffman. For Reddit, this is a huge problem. The company claims to make 80% of its money from logged in and app users, but it's still a serious risk if the top of the funnel is broken.
Over at Alphabet, the claim is that Google's Search business is doing just fine. The numbers seem to be back it up for now at least.
But are AI overviews breaking the internet?
What does this mean for Reddit?
And frankly, what does it mean for Alphabet's valuation as well?
In this show:
00:00 Intro
00:46 Reddit CEO Steven Huffman on how the internet has changed
02:30 Alphabet’s Search revenue and AI citations
05:19 Does Reddit actually make money?
06:22 Reddit’s shift to logged in and app users
08:46 Reddit drops 30% - but what did the financial results say?
10:36 Alphabet’s valuation and latest financials
15:42 Amazon in Magic Markets Premium
16:04 Closing thoughts
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Music by AtlasAudio from Pixabay
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