Is Reddit co-founder Alexis Ohanian experiencing regrets about his creation? At an event at the University of Virginia, the entrepreneur and founder of the venture fund Seven Seven Six expressed a somewhat pessimistic view of the current social media landscape and the creator economy. He pointed out that people have become excessively focused on seeking likes, retweets, and upvotes, remarking, “I wish I could be more optimistic about it, but we’re seeing it play out before our eyes.” Despite this, Ohanian ultimately described himself as a “techno-optimist,” drawing a parallel to a recent statement by a16z General Partner Marc Andreessen, who asserted that technology could address all our problems.
During his interview with Kara Swisher, Ohanian admitted, “Guilty as charged. I do think that the pendulum will swing back. I think even faster than we realize.” He theorized that the ongoing conflicts in the Middle East could potentially be a turning point, as it has become abundantly clear that we need better tools to understand the world than the existing platforms.
In 2020, Ohanian notably resigned from Reddit’s board due to disagreements over moderation and the need to address communities promoting violence and hate. It was a moment when he seemed to be grappling with the impact of his platform. At that time, he requested that his board seat be filled by a Black board member, a request the company fulfilled by appointing its first Black board member, Y Combinator partner Michael Seibel. Reddit subsequently banned several toxic communities, including r/donaldtrump following the U.S. Capitol violence, leading Ohanian to observe that the site had “improved demonstrably” both as a platform and as a business.
However, Ohanian expressed concerns about social media’s broader impact, highlighting its tendency to bring out the worst aspects of human nature. He also worried about the obsession with being the first to win on platform leaderboards, which often facilitates the spread of misinformation.
He noted that the development of social media platforms was influenced by how they were initially conceived. Ohanian shared that Reddit originated from his management of a forum site in college, where he believed online communities could feel as real as offline ones. He never envisioned the significant influence the site would one day wield, including its impact on elections and democracies.
He also identified a growing issue: the presence of more people online than early tech founders could have imagined. While he appreciates the broadened access to technology, it has brought numerous complications, leading to conflicts and varying versions of truth.
Asking platforms like Facebook, Twitter, or Reddit to be responsible for verifying truth and accuracy is a challenging task, Ohanian argued. He criticized TikTok as being a tool of the Chinese government that caters to users’ desires rather than always providing factual information.
Ohanian credited Twitter (now called X) with having the best moderation system so far, particularly their “Community Notes.” However, he disputed the idea that a platform can truly serve as a town square, pointing out the absence of democratic elections for platform leaders.
Despite the issues with social media and its societal impact, Ohanian maintains some optimism. He believes that the founders his fund 776 invests in are more knowledgeable about these issues than he was at their age, suggesting that the next generation of platforms could be addictive without disrupting democracy. He also anticipates a resurgence of live gatherings and in-person experiences as people seek authenticity in an increasingly curated online world. Ohanian concluded by expressing his hope for a path forward, emphasizing the commonalities among people as a potential source of positive change.
