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Reddit Co-Founder, Alexis Ohanian in February said he would step down from his role at the company to return to investing.
Ohanian is now full-time at Initialized Capital, the early-stage VC firm he co-founded with Garry Tan in 2012. The firm invests in Coinbase, Instacart, Zenefits, Opendoor, Soylent, Cruise Automation, and Standard Cognition and has more than two hundred and fifty million dollars in assets under management.
Ohanian says:
“I still use Reddit to discover burgeoning trends, it’s a big part of why Initialized was the first check-in Coinbase. You could see these trends popping on Bitcoin, for example. The early, organic communities served as really great focus groups.”
Ohanian, who recently had a daughter with wife and tennis champion Serena Williams, took 16 weeks of parental leave before making the decision to leave his operating role at Reddit.
Ohanian discusses the elements he looks for in a founder before investing, his outlook on cryptocurrency, and what would Bitcoin and Ethereum be priced at the end of the year.
As the discussion proceeds, he then lists the key elements he looks for in a company or founder before investing. He states that there has to be a relentlessness to the founder. It’s easy to have an idea. It’s easy to print out some business cards. When you bring forward the idea and actually start testing some version of your idea, getting it in front
Ohanian further discusses the emerging future of cryptocurrency and blockchain where last year, it was all about AI and machine learning, This year, it’s all about blockchain. In the next year or two, for the world to really see the Web 3.0, that it is really hoping for most of the really vital, protocol-level, basic infrastructure around software and blockchain will need to get built. So those are the types of companies he is investing in now.