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Paul Graham's Investment in reddit

Paul Graham, the founder of Y Combinator, announced his personal investment in reddit, emphasizing the platform's remarkable journey from a time-wasting toy to a significant online community. His investment signifies his belief in reddit's future potential and its role in fostering online communities.

A Long-Time reddit User

Graham has been a dedicated user of reddit for nine years, making it one of the most enduring online services he utilizes. He highlights the platform's importance in connecting like-minded individuals and forming communities.

• Graham's early association with reddit dates back to its early days, having been one of the first users of the platform.
• He acknowledges the significant amount of time he has spent on reddit over the years, emphasizing its engaging nature.

reddit's Evolution and Future Potential

Graham points out that reddit's evolution from a seemingly frivolous platform to a meaningful community platform is noteworthy. He believes that reddit can become a vital hub for online communities, with a potential user base reaching close to a billion.

• He highlights the platform's ability to connect individuals in real-world communities and coordinate real-world action, emphasizing its social impact.
• Graham sees a bright future for reddit, highlighting the team's vision and potential for growth.

Community Ownership and User Value

Graham expresses his concern about the discrepancy between users creating significant value for platforms like reddit and not owning any part of them. To address this, the Series B investors are allocating 10% of their shares to the reddit community, with plans to further enhance community ownership in the future.

• Graham acknowledges the importance of empowering users by giving them a stake in the platform's success.
• He hopes that this initiative will set a precedent for community ownership in online platforms, creating a new model for user engagement.

Protection Against Acquisition and Future Growth

Graham's investment strategy also emphasizes the importance of safeguarding reddit's independence. He grants a proxy on his Series B shares to reddit, granting them voting control and protection from external forces that could potentially disrupt the platform's growth.

• This move aims to prevent undesirable outcomes like forced acquisitions or limitations on future fundraising.
• Graham's investment strategy prioritizes reddit's long-term vision and independence.

Yishan Wong's Vision for reddit

Graham expresses his support for Yishan Wong, the CEO of reddit, and his ambitious vision for the platform's future. He acknowledges the significance of online communities and believes that reddit has the potential to become a major force in this domain.

• Graham emphasizes the platform's role in fostering online communities and its potential to become a leading platform in this space.
• He believes that the early stages of online communities are still unfolding, and reddit will play a key role in shaping this evolving landscape.