Reddit cofounder Alexis Ohanian has declared that creating traditional social media applications is no longer appealing, pointing to a shift in how digital spaces operate. Speaking with WIRED senior correspondent Lauren Goode at the inaugural WIRED World Fair, Ohanian explained his view that the future of user-generated content will likely resemble an improved version of the group chat.
Reflecting on Reddit and Venture Capital
Ohanian maintains a complex history with the internet. He stepped down from Reddit in 2020 following the killing of George Floyd, intending to create a vacancy for a Black board member and push the platform to tighten its content moderation. The website had faced heavy criticism for hosting violent and harmful discourse. Recalling a recent encounter with a fan who had covered up their Reddit tattoo—a symbol Ohanian once viewed as a pinnacle of success—he told WIRED, “I don’t blame him.”
He currently manages venture capital firm Seven Seven Six, which oversees more than $1.3 billion in assets. His investment strategy centers heavily on sports, where he believes genuine physical communities still thrive during a period defined by artificial intelligence content and a compromised web.
The Rise of the Dead Internet Theory and AI Impact
Ohanian supports the concept known as the “Dead Internet Theory,” which suggests that a massive portion of online traffic and material is produced by automated bots. He noted that large language models have accelerated this phenomenon, with AI agents outpacing human participants. “The internet that I grew up on … that was really built for humans first; user interfaces and experiences are going to go away,” Ohanian stated, adding that an increasing portion of the internet will be built for these agents rather than for people.
Simultaneously, the boom in generative artificial intelligence has proven financially advantageous for platforms like Reddit, which licensed its massive repository of human dialogue to firms such as Google and OpenAI to train machine learning systems. “Platforms like ours became very, very valuable to LLMs,” Ohanian said.
However, the same technology poses risks to the industry. Reddit shares dropped 29 percent following a company warning that search engines powered by artificial intelligence were reducing referral traffic. Ohanian also expressed concern that monetizing these discussions leaves them filled with false material. “The internet has gotten so manipulated because it is so incredibly valuable to do so,” he explained.
Regarding Reddit’s recent policy requiring visitors to sign in to combat third-party data scraping and maintain user interaction, Ohanian chose not to comment on whether he supports the decision. He noted, however, that “there has to be provable humanity on the internet without being creepy.”
As an early investor in AI startup Anthropic, Ohanian remains hopeful about the technology’s positive applications, particularly regarding medical discoveries. “There is still a very real chance that this technology can cause a lot of harm for sure,” he said. “I think we have to be sober about how we’re building and what we’re doing, but I still can’t help but see all of the things that can get so demonstrably better.”
