Brew Markets Podcast Episode Summary

Episode Title: Alexis Ohanian: Revisiting the Return of Trust and Fun to the Web
Podcast: Brew Markets
Host: Ann Berry
Guest: Alexis Ohanian (Co-founder of Reddit, Founder of Seven Seven Six)
Release Date: December 31, 2025

Episode Overview

This episode features investor, tech entrepreneur, and Reddit co-founder Alexis Ohanian. Host Ann Berry revisits her in-depth conversation with Ohanian on how he’s pushing boundaries at the intersection of principle and business. The discussion centers around major inflection points in his career: investing in women’s sports, the social impact of his principled resignation from Reddit’s board, the challenges and promise of social media in the AI era, and his latest ventures—resurrecting Digg and reshaping live sports with technology.

Key Discussion Points & Insights

1. The Business of Women’s Sports — From "Rage Tweet" to Market Disruption

[02:42 – 09:56]

• Genesis: Ohanian describes how a viral tweet in March 2019 about the undervaluation of women’s soccer teams prompted him to invest and ultimately co-found Angel City FC in the National Women’s Soccer League (NWSL).
  • He identified that well-known players like Megan Rapinoe and Alex Morgan already had market appeal and influence far outpacing their teams' valuations.
  • Quote:
    “The math didn’t math, because I knew she [Megan Rapinoe] alone should be worth at least $3 million in brand deals a year. And so the fact that the whole team was worth that much was assigned to me that there was an opportunity...” — Alexis Ohanian [03:33]
• Spotting Heat and Opportunity:
  • Ohanian saw online backlash as a positive signal, emblematic of potential cultural impact—"irrational hate" meant the space mattered.
• Fundraising and Growth:
  • Angel City recently hit a $280 million valuation at its latest fundraise.
  • Ohanian reflects on expanding to new verticals like track and field, noting the similarity to women’s soccer as a globally popular sport with dormant value between Olympics.
  • On creating Athlos:
    “It was an opportunity to really build this...very high energy with the very, very, very best. Like, just the very best.” [06:14]
  • The business rationale for prioritizing women's leagues is laid out, including bigger social followings, greater CMO (chief marketing officer) interest, and the ability to secure tier-1 sponsors quickly.
  • Plans to expand Athlos into a "Formula One league of track and field"—a team-based, global competition—are previewed.

2. Virtue Signaling vs. Real Business – Transparency on Motives

[10:27 – 15:06]

• Ohanian addresses early accusations that his advocacy for women’s sports (and resignation from Reddit) was virtue signaling because of his marriage to Serena Williams and being a "girl dad."
• He insists the numbers now speak for themselves—women’s sports is objectively a booming business, and skeptics haven’t been paying attention.
  • Quote:
    “Ball don’t lie, like the revenue numbers don’t lie. Sellout crowds don’t lie. Viewership growth doesn’t lie.” [13:40]
• He shares pride in aligning values and business and views his public investment as a catalyst for broader industry investment.
• Reflecting on his resignation from Reddit’s board in 2020:
  • “I did so very intentionally to push for change…so replace me with a director of color. Replace me with a Black director.” [12:06]
• Ohanian relishes the vindication of being proven right by the success metrics, likening his current stage to a “told you so” tour.

3. Reddit, OpenAI, and the Fate of Human-First Social Platforms

[15:46 – 21:20]

• Ohanian recounts the early days of Reddit and debates over sharing their data with Sam Altman’s then-nonprofit OpenAI.
  • Quote:
    “I really felt in my bones...we shouldn’t be giving this away to him.” [16:47]
  • On hindsight, Ohanian recognizes OpenAI’s strategic foresight in valuing Reddit’s human-structured data, but expresses regret over losing that debate.
• He laments how today’s internet is inundated with bots, AI-generated content, and “dead Internet theory.”
  • “It definitely feels as though most of the social media we consume now is fake.” [18:57]
• He predicts a new wave of platforms and tools will rise around proof-of-humanity as trust becomes scarce and deepfakes/manipulation proliferate.
• Human-driven content, especially live sports, will become even more valuable.

4. Resurrecting Digg – A Partnership Born From Rivalry

[21:20 – 26:53]

• Ohanian discusses partnering with former rival Kevin Rose to resurrect Digg as a next-generation, human-first community platform.
  • The irony of former “arch nemesis” now turned ally and friend drives home the cyclical nature of the tech world.
  • Quote:
    “I came to realize this guy who was my CEO rival…actually could be a friend and actually was someone who I really respected.” [22:30]
• New Digg’s key innovations:
  • Human-verification layers (e.g., paid registration for handle)
  • AI-enhanced moderator tools to reduce drudgery and increase fun
  • User-content grading (e.g., “A+ human” vs. “C- unverified”) and customizable content filters
  • Focus on making the platform “fun, delightful, and provably human”
  • Quote:
    “How do we figure out proving humanity from the earliest days in a way that again feels good?” [23:43]

5. Investing at the Edge: Nostalgia vs. The Next Frontier

[26:53 – 31:03]

• Ann Berry asks whether Ohanian is more drawn to optimizing nostalgia or pursuing the unimaginable.
• Highlighted ventures:
  • Stoke Space: Building fully reusable rockets that will compete with SpaceX, drastically lowering the cost to reach orbit.
  • AirBuds: An app for real-time music sharing among friends, a backlash to performative and gamified social media.
    • Quote:
      “This is a generational response to social media culture, especially the most toxic elements.” [28:15]
• Ohanian sees both strands—revitalizing proven ideas with tech and backing transformative frontiers—as necessary to stay ahead in today’s investment landscape.

Notable Quotes & Memorable Moments

• “Even those signs of irrational hate were actually giving me confidence that there was something really interesting and compelling there.”
  — Alexis Ohanian [04:15]

• “It’s really poetic…that literally one of the first things I did after that [Reddit resignation] was Angel City.”
  — Alexis Ohanian [12:15]

• “It basically speaks for itself. If you still think women’s sports are not a real business…you basically just look like an asshole.”
  — Alexis Ohanian [14:10]

• “We buried Digg. Sorry, Kevin. But I never actually had met him…then I came to realize…he could be a friend.”
  — Alexis Ohanian [21:58–22:30]

• “Most of the social media we consume now is fake. Right? It’s either bots or AI generated or AI assisted or in some way just fake.”
  — Alexis Ohanian [18:57]

Segment Timestamps

• [02:42] — Opening: Ohanian on entering women’s sports via a viral tweet
• [05:16] — Reflecting on missed opportunities in the NWSL, pivot to building Athlos
• [07:50] — Business logic for focusing on women’s events first
• [10:27] — Addressing accusations of virtue signaling & market validation
• [11:37] — The story and purpose of his resignation from Reddit
• [15:46] — Reddit’s evolution and the OpenAI data deal
• [18:57] — The rise of fake content, “dead Internet theory,” and the need for proof-of-humanity
• [21:20] — Reviving Digg with former rival Kevin Rose
• [26:53] — Navigating nostalgia versus the true frontier in investing
• [28:01] — Details and philosophy behind AirBuds
• [31:03] — Reflections on tech culture, sports, and the future

Tone & Language

The conversation is energetic, candid, and at times irreverent. Ohanian is blunt and direct, mixing anecdotes, business rationales, and personal values, while Ann Berry provides pointed questions and context.

Summary Takeaway

Alexis Ohanian embodies a rare combination of mission-driven investing and sharp business acumen. Whether scaling new heights in women’s sports, learning from past missteps at Reddit, or fighting for a more human-centered social web, Ohanian’s journey is a master class in seeing opportunities where others overlook them—and having the conviction to act, even against skepticism. His willingness to revisit and revive “old” ideas like Digg while propelling true frontiers demonstrates a nuanced understanding of both tech and cultural cycles. For investors, founders, or anyone interested in the future of the web and live experiences—this conversation is packed with actionable insight and thought-provoking moments.