Reddit

“So the background there is the founder of Reddit, who has a very adorable mascot in Snoo on that you see next to every Reddit logo. He built, he designed us a mascot, and we ended up not using it.”

“Somebody found that way to Robinhood free stock trading. Posted it on Reddit, so it's like a Friday night, and then all of a sudden we're like, man, we're getting a lot of traffic, where is this coming from? So we actually hooked up Google Analytics, which tha…”

“Reddit has this, it's this incredible opportunity represents, has more potential than any company I can think of. And it feels like they're missing it. It feels like that opportunity is slipping through their fingers.”

“I have lots of thoughts and a vision for Reddit, and I am not a social person.”

“Today, this company ranks as the number five most visited website in the US”

“And so what I'm truly excited to do, and hopeful that we can succeed at, is over the next five years, providing that not just for the millions of who use Reddit every day, but for, in the future, billions of people, if not everybody.”

“You know, Alexis then and now has always been a very, like, high charisma person, an easy conversation, kind of a charming, funny person, and so in the early days of Reddit, even in that story I just told you, those skills were really important to us because I…”

“The best hires I've made, like the top one percent, My very favorite people I knew in about the first 20 minutes of our conversation.”

“When we hire somebody, there's a chance that your company gets better if it's a great hire. When you let somebody go, it is guaranteed your company will get better because at the minimum, you're not stressing about that person anymore.”

“The most compassionate thing that we can do for somebody is tell them the truth in a difficult situation.”

“There's a phrase that people in my orbit when they're hiring, which is hard to hire, hard to manage. If somebody is a pain in the ass in the interview process, they're not on time, or it's difficult to schedule, or all of your conversations are about title and…”

“I don't believe in decision through consensus at all. I think that's a great way to actually not make decisions.”

“It's been removing these cyclical, useless thoughts from my head, and I think a lot of stress management is the tactics and the art of removing these thoughts from my head.”

“I was one of the first, if not the first Reddit advertiser back in the day, like click-through rates can be through the roof.”

“On the VC side, Matt has worked with the likes of Peter Fenton at Benchmark, Several Sequoia partners, Hemond at GC, and Mamoon at Kleiner, to name a few. As for founders, Matt's worked with the founders of Brex, Coinbase, Plaid, Reddit, Flexport, and many mor…”

“You know, after the murder of George Floyd and really thinking about sort of the role that I want to play in the world, I realized I needed to step down from the board of Reddit. I did that in June and you know, was very relieved to see that they honored my re…”

“We made more of that, that sale of Reddit than my folks had made their entire lives. And I got it for 16 months worth of work.”

“This was around 2017 when we really started building all of the developer community engagement programs that AWS still has today, including our developer Slack, our Reddit engagement, our Stack Overflow engagement, open sourcing product roadmaps on GitHub.”

“That was part of his success, but I think that that group of individuals actually became pretty trollish, quite honestly, by the end of it, and navigating how to succeed through that was very hard for Digg and for Kevin, and you watched someone like a Reddit c…”

“For Reddit, for example we, our North Star metric is DAUQ, DAU Uniques. Probably the most important metric for the company. Leading indicator of revenue, all of that.”

“One of the rules actually, before I talk about diversification, that we did the push notifications, which is a massive lever for Reddit, is we said you're only allowed to send push notifications if it hits a minimum CTR. And if it doesn't hit that CTR, it's sp…”

“Probably 30 to 40% of my time in those early years should have just been about hiring.”

“What you're seeing now is the broad social networks are becoming all about communities and all about interests, and they just have different take on it. Like that's where tick tock is. That's what Instagram is becoming pretty quickly. That's what Reddit obviou…”

“So when I was at Zynga, we did them weekly because it was just a weekly product cadence. I mean, gaming is Gaming is brutal, right? It is a daily, weekly business. And you only have so much of a shelf life. So for gaming, that was the right cadence. For Reddit…”

“It would be very good to be disciplined around it because you, what you want is you don't want this person to be your head of data and to actually fix whatever's happening with your data. That is not their job. What you want is for them to be able to actually …”

“I think how we fuck up is by not, instead of doubling down where we are strong, we try to cover our weaknesses, or we look at what's happening with other social networks, and we try to follow.”

“As I mentioned in the beginning, you just need a few engineers who can collaborate, who can work with this person. Full-time, much better than contractors or part-time. Again, you want people who have skin in the game, who are in it. This is a high leverage ar…”

“In the first month, the red flags have got to be people who are doing a lot of talking and a lot of listening and not a lot of action. The right candidate just wants to get going. And I mean, get going as in they want to launch something their second week ther…”

“We actually even created a subreddit called Fix the Video Player”

“Yeah, look, I think Adam is right in that that dynamic generally exists with feed oriented products.”

“So, interestingly enough a journalist was able to snuff out that two acquirers were actually coming in and thinking about acquiring the company. And, you know, I denied it. As much as I possibly could. And then really the next day I realized, I really don't ha…”

“Openly we went through sort of almost two to three failed processes until we found a successful process with Reddit.”

“People actually weigh in, and it's become so trusted, because the aggregation of the community and the community actually giving it weight on what is valuable and not, is more trustworthy than necessarily what your friends think about something.”

“You're seeing Reddit, Twitter, et cetera, shut off APIs, put in more strict rate limits, et cetera. And so the whole world is starting to lock down data, which was counter to the trends over the past 20 years, when everything was being pushed more and more ope…”

“We got 50 users that day from that post. And then that 50 turned into a hundred the next day and it sort of started to snowball.”

“Crypto lives and breathes and grows on social. So the people that I will find on Discord or Reddit and Twitter are very different from the people I will find on Meta and Instagram and or Search.”

“With the rest, I believe the current opportunities lie within communities. Building those communities where the users are. Discord, Reddit, YouTube following.”

“It was about nine billion when the lockup ended. That was tough. I think the market cap's about thirty-nine billion now. I think it's pretty public. The fund owned just about seven percent. You can do the math. That's about maybe two billion of gains that coul…”

“It was give money to the best people. You know, we did Reddit at a higher valuation. We did rippling at 25.”

“Rippling and Reddit. We sold a little bit of rippling on the way up, just because, like, our LPs wanted money and, you know.”