Why the Co-Founder of Reddit Won’t Buy Facebook Stock [Video]


Reddit co-founder Alexis Ohanian appeared on CNN on Wednesday to explain why he would not be buying any Facebook stock in the upcoming IPO.  Specifically, he is critical of their support of bills like CISPA which are not in the best interest of users.  Alexis posted the interview on his own blog and I take a look at his comments below.

He explains how he does see the business value of something like Facebook, but he doesn’t agree with their support of CISPA, which allows a company like Facebook to share personal data without any user protection.  He clearly introduces this sentiment forcefully, as the hosts weren’t necessarily interested in the CISPA issue specifically.

They also discuss the revenue potential for Facebook, and the changes that may come as Facebook goes public, including fewer public statements from Mark Zuckerberg.  Alexis discusses what it was like to sell his own Reddit to Conde Nast.  Alexis has had a closer relationship with his users than Mark did, and because Conde Nast is a private company, it was a different experience for Alexis — he only had to answer to the board.  Check out the video below and let us know what you think.

 

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