This is the best summary I could come up with:

Reddit, the launchpad for many meme stocks, could now become one: The social media giant makes its debut on Wall Street Thursday in one of the most highly anticipated initial public offerings of the year.

While AI search crawlers have been scraping data from websites including Reddit to develop their models without permission from those sites, lawsuits have recently put that practice under threat, so Google has been eager to secure licensing deals with major publishers.

The subreddit has previously made and ruined fortunes, temporarily driving up the price of stock in down-and-out companies like GameStop, the movie theater chain AMC, and Y2K smartphone maker BlackBerry.

Without doxxing myself, I thought my username was a clever allusion to one of my favorite books, The Hitchhiker’s Guide to the Galaxy; the mods derided it as “one of them high-brow classic lit references about your destructive nature as a journalist.”

Unlike X, where blue checks with verified identities have always driven the conversation, Reddit has a flatter structure where communities form around niche topics, giving way to an unruliness that doesn’t respect anyone because of their title (especially because many people go by pseudonyms.)

Reddit has historically had no shortage of such content, even if it was later banned: take r/thefappening, where photos of naked celebrities stolen from their private iCloud accounts were posted, or r/thedonald, a MAGA subreddit that often violated the social network’s policies on hate speech.

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