About Alexis Ohanian
Alexis Ohanian, co-founder of Reddit and founder of Seven Seven Six, has been speaking about his investments in women's sports and space technology. He described the SpaceX IPO as "a milestone moment" and said he has been excited about space tech for five to seven years, calling it an investment thesis that was "unthinkable a decade ago." Ohanian also discussed the state of venture capital, noting that 65% of VC money has gone to just 0.05% of companies, and said he believes it is positive for retail investors to gain access to companies that previously stayed private longer.
Ohanian has continued to promote his all-women track and field league, Athlos, which he founded after the Paris Olympics. He said the league is modeled on NCAA track and field with a team-based point system and that athletes are given equity as partners. Ohanian described women's sports as "the only pillar of entertainment that is durable" and an "anti-AI bet," arguing that live sports are fundamentally human and cannot be replaced by AI-generated content. He also said he has been investing in women's sports for five to six years and called it an "institutional great asset."
Source: AI-verified profile updated from Alexis Ohanian's recent appearances.
Browse all interviews →
✨ AI-enhanced transcript with speaker attribution
H
Host0:01
The United States is alone among wealthy countries in its lack of a national paid leave program. Instead, we've got a patchwork of federal, state, and local policies. But our next guest is working to change that. Alexis Ohanian is the founder of 776 and co-founder and former executive chair of Reddit, and he joins us over the phone. Alexis, always good to have you here on Yahoo Finance. So look, you've been a long-time advocate of national paid leave. For those who don't know, when your daughter Alexis Olympia was born, you took four months off. Not a lot of Americans can do that. Before we get into the specifics, just why do you think it's taken so long for the US to get up to speed when it comes to parental paid leave with the rest of the world?
A
Alexis Ohanian0:43
Well, Alexis, great to be on here and chatting with you. It's complicated because the United States is a country that talks about family values as a priority. Both parties do. I think culturally, the country talks a lot about valuing family and it being the bedrock of society. I think the talk is finally running out for more and more Americans who realize that we are owed this opportunity. When a new life comes into our family, that is the most crucial time for both parents to be able to be there and be a part of it. No parent should have to choose between being with their newborn and their partner or saving their career. I was lucky because I ran the company and took full advantage of the policy we had at Reddit. But so many Americans, especially so many men, don't have the opportunity for parental leave or paternity leave, and that needs to change. I think the government now has a chance to step up and give the people what we want.
H
Host1:53
And Alexis, thank you. I'm going to be the Karina that interjects between the two other Alexises. Thank you so much for being here. I wanted to ask you, you partnered with Dove on this initiative for parental leave. Tell me why you decided to do it and describe the partnership if you will.
A
Alexis Ohanian2:11
Sure. I've been working with Government Care to advocate for parental leave since 2019. We first introduced this pledge for paternity leave. We had thousands of parents sign, we brought their stories to Congress. I mean, we literally went to Congress, met with members of the House and the Senate, not just me but also other dads who either had or didn't have the opportunity to get paternity leave themselves, and brought those stories. It made a heck of a difference. In the wake of that, we actually got 12 weeks of paid family leave for all federal employees signed into law. That was the start of some momentum that will hopefully culminate this year as we get this not just for federal employees but for all Americans.
H
Host3:01
But when you think about it, certainly there has to be a legislative effort here, Alexis, but also what needs to happen in terms of the way society views parents taking time off? Because I think there's this unspoken idea that you are super parent if you can come back to the office quicker after having your baby.
A
Alexis Ohanian3:21
Yeah, we need to dispel that myth. Part of that is from type A business leaders like myself showing that actually no, what's most important is to make sure that the home front, the castle, is secure and sound before you can even consider doing your best work. I know for all of my employees, I push them, especially the men, to take this time, because that's what's going to ultimately change the culture. You're right, parents, men and women, must feel empowered to take leave. This needs to get normalized. Certainly women bear the higher brunt of this today in the workplace, but it shouldn't be a liability just to have a uterus in America. It should be something that every new parent sees an opportunity to take, even and especially the men. I think the way this changes is more and more men normalizing it, more and more men talking about it. What excites me is that this new generation of male CEOs in particular that we invest in and back at 776 are more motivated and more aware than ever about not only providing this for their employees but then taking advantage of it and talking about it. Look, how many of us have been on Zoom calls in the last couple of years and had our kids barge in, or maybe not always on live television like that guy on the BBC. But even that normalization makes a difference. No one of us who has a child can really say that there is a gulf or barrier between work and life. It blurs. This is the most crucial moment in welcoming a new member to the family. We need every American to have access to paid leave.
H
Host5:17
I feel like I may be the anomaly here or the crazy person in the room because I had my child 10 weeks early. She was in the ICU for six of those weeks, and I was begging my boss, please let me come back to work because I just wanted some normalcy in my day. But it was great to have that flexibility and obviously be offered the time to take as much time as I needed to be at home with my child. I wanted to ask you, in this sort of worker-driven economy job market right now, how important is it to offer parental leave when employers are looking at recruiting people for jobs?
A
Alexis Ohanian5:54
It is vital. Offering paid leave has become table stakes in the tech industry where the talent war is the most fierce. My founding partner here at 776, Scale and Holloway, she was our head of people and culture at Reddit and created that policy that I ended up taking. We know now for anyone trying to attract the best and the brightest and retain them, you need to have this policy. That's great for companies that have millions, hundreds of millions of dollars to invest in their employees. Small businesses, though, are such a crucial part of the economy. They don't have access necessarily to those kinds of dollars. That's why a federal policy is so important because it's going to lead to healthier outcomes for all. I want to say this: I see none of this to your personal story. I want every American to have the option. At the end of the day, it's not to prescribe you have to take the time. More importantly, it's to give the peace of mind and the flexibility. I've had employees who have had their third kid and they say, 'You know what, Alexis, to be honest, we got this. I'll take a few weeks off and then we'll be fine.' But I still push them to say, 'At least consider taking off every Friday after that and work a four-day work week, or whatever works for you and your family, but you can use this time flexibly.' Just that little bit of difference gives your family more freedom, gives your partner a day of support. It gives you optionality. No one's going to miss you if you take that one day out of the week. It's changing the mindset around it being this binary thing. I think this will accomplish that. That's exactly how I thought actually until I got presented with building our paid leave strategy, and I was like, 'Okay, this makes a lot of sense.' At the end of the day, I don't think there's a single one of us in this country who wants an American to have to choose between their kid and their partner and a paycheck. To be put in that place is not something I think any American should want, because families really are the bedrock, and we deserve to make sure everyone has that opportunity.
H
Host8:16
Absolutely. Hey look, Alexis, since we have you here, I got to ask you a couple of tech questions quick. I know there's been a lot of reports out there that Reddit, the company you co-founded, is getting closer to going public. We don't know for sure yet. I know that in 2020 they had revenue of $170 million, still not profitable yet, but they're looking at being valued at upwards of $10 billion. What's your thought on Reddit going public and at that valuation?
A
Alexis Ohanian8:54
I'm going to give you a giant no comment on that one. I will say, in the wake of my resignation last June, I was really heartened to see the company respond by banning 3,000 hate communities, by honoring my request to be replaced by a Black director. Those changes aren't just good for society, they're good for business, they're good for the bottom line. Seeing the company's revenue growth since then as a result makes me so happy. I can't comment on any IPO plans. I do think at the end of the day, we've reached a new era in the last year as more and more people realize the power of community. I just want to see it live up to the best of what community can do. I'm optimistic to see that happen.
H
Host9:50
And would love to get your thoughts on Facebook. It's been a tough few weeks. We had that whistleblower go before Congress to shed some light on problems internally there at Facebook. We also had a worldwide outage of Facebook and a lot of its apps. A lot of people talk about Facebook being like the Teflon company, it keeps bouncing back. What about this time? Does this time feel different? And do you think maybe it's time for CEO Mark Zuckerberg to step aside and allow new management?
A
Alexis Ohanian10:21
There's a lot there. With regard to your observation about the Teflon company, I do think regulators are at an inherent disadvantage when they don't understand the technology that they seek to regulate. We saw it again recently with a senator or congressman asking about Finsta accounts as though they were a product. That makes the rounds in tech. Those are fake Instagram accounts that anyone can create, used as an alternate account not under your real name. There is such a gulf between the folks who understand the technology and the folks who are regulating it in almost all cases, which presents a really big challenge because well-intentioned regulation can have really unintended consequences that don't actually solve the problem. At the risk of sounding cynical, I just don't know what will actually change from a regulatory enforcement standpoint. I do think the greatest leverage is from the market. We're already backing companies that are principally opposed to the sort of culture that Instagram has created, companies like Dispo where the goal is you take a photo and then you go back to living in the moment because you can't see it until the next day. It's not about taking 100 perfect photos to Photoshop and make it look amazing just to impress a bunch of strangers who don't actually care. I do think that momentum is actually going to end up moving a lot faster. With regard to Zuck, I think it comes down to the shareholders voting. I don't know. One thing I would like to see broadly is that it disappoints me when leaders lead by reacting as opposed to making hard decisions and actually leading from the front lines, as opposed to just being reactive to press cycles or outcry. It is hard. We're in territory that I don't think any of us expected. I started Reddit in 2005, things got started in 2003. We were building things that we thought we would like and other college kids like us would like. The reality is it's having much bigger implications on far more people than we ever expected. Part of that comes with responsibility. That's the part that I think every one of us is a bit fed up with, seeing leaders react instead of lead and actually make hard choices, accepting the reality of what an impact these platforms have.
H
Host13:10
Yeah, well, it's certainly going to continue to shake out over the weeks and months ahead. But from one Alexis to another, I thank you for spending time with us and sharing your thoughts. Alexis Ohanian, thank you.
A
Alexis Ohanian13:21
Thank you, Alexis. Appreciate it.
H
Host13:24
Next time we'll have him on camera. Alright, have a good one.