THE ROADS AND THEN A BEEKEEPER VENDOR FOUNDATION, THE COLCOM FOUNDATION IN THE CHARLES A. FRUEAUFF FOUNDATION.

>> Jen Wong: SOMETHING REALLY, REALLY SPECIAL ON REDDIT.

IF YOU THINK ABOUT PEOPLE SPEND THEIR ADDITIONAL TIME, ONE OF THE STRUGGLES IS HOW DO I SPEND QUALITY TIME WHEN I'M ON MY PHONE AND SORT OF IN MY DIGITAL LIFE?

YOU THINK ABOUT REDDIT AS INTENTIONAL TIME FOR PEOPLE COME IN THIS, LIKE, OPEN MINDSET WHERE THEY ARE TRYING TO LEARN AND UNDERSTAND AND WILLING TO GO INTO A TOPIC AND GO IN WITH THE DEPTH.

[MUSIC] >> Bonnie: HELLO.

I AM BONNIE ERBE.

WELCOME TO "TO THE CONTRARY".

THIS WEEK, WE CONTINUE OUR WIN THOUGHT LEADERS SERIES WITH JEN WONG, CEO OF RETTICH, THE FIFTH MOST POPULAR WEBSITE IN AMERICA.

SHE HAS A HISTORY IN THE TECH AND BUSINESS WORLD, HAVING PREVIOUSLY WORKED AT AOL AND POP SUGAR.

WELCOME.

SO ADD TIMING, AND AOL, HAVE YOU BEEN THIS AMAZING WOMAN WHO MADE IT TO THE TOP OF HUGE CORPORATIONS WHERE IT'S STILL A BOYS CLUB?

>> Jen Wong: WELL, THANKS FOR HAVING ME HERE TODAY.

IT'S BEEN AN AMAZING JOURNEY, ACTUALLY, SO FAR.

I FEEL REALLY PRIVILEGED TO HAVE WORKED WITH SO MANY GREAT PEOPLE AND HAD SOME REALLY IMPORTANT ORGANIZATIONS, I THINK.

I'VE ALWAYS HAD A PERSONAL PASSION FOR CONSUMER MEDIA AND THE MISSION BEHIND THOSE COMPANIES, CONSUMER MEDIA AND TECH.

AND I THINK THAT'S WHAT'S REALLY DRIVING ME IN, YOU KNOW, PARTICIPATING IN THESE BUSINESSES AND HELPING THEM GROW, BECAUSE I THINK THEIR MISSIONS HAVE REALLY RESONATED WITH ME.

>> Bonnie: TELL ME ABOUT REDDIT.

FOR THOSE OF US OLD-FASHIONED PEOPLE WHO ARE STUCK ON FACEBOOK AND CANNOT EVEN GETTING TO INSTAGRAM ALL THAT MUCH, WHAT DOES REDDIT DO AND WHY SHOULD I BE, BELONG TO IT AS OPPOSED TO FACEBOOK OR ANY OTHER PLATFORM, TWITTER, BLAH BLAH BLAH.

>> Jen Wong: RIGHT.

REDDIT IS A REALLY SPECIAL PLACE, ACTUALLY.

IT'S IN A PERFUNCTORY SENSE, WE WOULD CALL IT THE WORLD'S LARGEST NETWORK OF COMMUNITIES, BUT THAT REALLY BELIES I THINK WHAT IT IS.

REDDIT IS A PLACE WHERE PEOPLE GO TO HAVE AUTHENTIC CONVERSATION.

IT'S ORGANIZED b ¦¦ >> Bonnie: WHERE THEY CAN HIDE A LITTLE BIT WHILE HAVING THAT CONVERSATION?

>> Jen Wong: WELL, THE WAY REDDIT WORKS IS WE BELIEVE EVERYONE SHOULD HAVE THE RIGHT TO PRIVACY AND CONTROL OVER IDENTITY.

AND THAT ACTUALLY HELPS FACILITATE QUALITY CONVERSATION.

SO, FOR EXAMPLE, REDDIT IS ORGANIZED IN 130,000 COMMUNITIES.

OF TOPICS OF INTEREST, EVERYTHING FROM CAMINO, A MINUTE CAMERA POLOWITZ GROUP, INDIE ROCK GROUP, NEWSGROUP, AND LEARNING HOW TO MAKE BREAD IN A BROAD GROUP.

ALL THOSE CONVERSATIONS ARE ON-TOPIC INCOME TAXES WITH OTHER PEOPLE HAVE THE INTEREST.

THE ANONYMITY AND THE CONTROL OVER YOUR IDENTITY ALLOWS YOU TO ACTUALLY HAVE AUTHENTIC CONVERSATIONS SO THAT WHAT I LOOK LIKE WHO I AM DOESN'T GET IN THE WAY AND A LOT OF OUR GROUPS ARE IN PLACES LIKE SUPPORT GROUPS, IDENTITY GROUPS WHERE PEOPLE ARE JUST WRESTLING WITH GENDER FLUIDITY, IDENTITY, ADDICTION, SUPPORT, SUPPORTING SICK FAMILY MEMBERS.

AND YOU REALLY WANT THEM TO HAVE CONTROL OVER THEIR PRIVACY IN ORDER TO BE VULNERABLE AND GET THE HELP THAT THEY NEED AND SUPPORT FROM COMMUNITIES.

>> Bonnie: THE OPRAH WINFREY OF WEB PLATFORMS IN A WAY?

>> Jen Wong: UM, I THINK WE HAVE THAT ASPECT TO IT.

I THINK WE ARE KIND OF b DESCRIBE IT AS YOU CAN HAVE A GROUP OF PEOPLE, AND THAT'S ONE THING AND YOU CAN HAVE A COMMUNITY.

AND ADD DIFFERENCES BETWEEN LIKE HOUSE AND HOME, RIGHT?

THE HOUSE IS AN EDIFICE, IT'S A SPACE.

BUT HOME IS WHERE YOU BELONG.

IT'S WHERE YOU HAVE A SENSE OF THIS IS MY SPACE, YOU FEEL SAFE, AND THERE IS A SENSE OF CAMINO, COMMUNITY AND WARMTH TO IT.

AND THAT IS WHAT PEOPLE FEEL WHEN THEY COME TO COMMUNITY IS ON REDDIT.

OUR MISSION IS TO BRING IN COMMUNITY AND BELONGING TO THE WORLD.

IT'S A BIG AMBITION, AND I THINK IT'S VERY DIFFERENT THAN MAYBE SOME OF OUR PEERS.

>> Bonnie: YOU'VE ALSO HAD PROBLEMS WITH RIGHT WING GROUPS, LIKE YOU'RE OUT OF 800,000 MEMBER FROM SUPPORT GROUP THAT YOU HAD TO SOMEHOW b ÃÃTELL ME ABOUT THAT.

>> Jen Wong: YEAH.

SO WE b ÃÃREDDIT HAS A RANGE OF DIFFERENT GROUPS.

AND ONE OF OUR FUNDAMENTAL VALUES IS, REMEMBER YOUR HUMAN, SECOND IS TO KEEP REDDIT REAL, WHICH MEANS WE ARE A PLACE FOR GLOBAL CONVERSATION.

THAT'S IMPORTANT TO US.

AND AS b ¦¦ >> Bonnie: SO PEOPLE CAN TRULY SAY WHATEVER IT IS THEY TRULY BELIEVE.

>> Jen Wong: THEY CAN'T b ÃÃ WHAT I WOULD SAY IS OUR VIEW IS THAT WE POLICE BEHAVIORS, NOT SPEECH.

SO BEHAVIORS ARE A BRIGHTLINE, AND OFTEN SPEECH, POOR SPEECH CAN LEAD TO POOR BEHAVIORS.

BUT WE POLICE BEHAVIORS AND WE HAVE A LAYER POLICY AGAINST HARASSMENT AND INCITING VIOLENCE IN THESE KINDS OF THINGS THAT WE PROACTIVELY MONITOR AGAINST AND MAKE SURE THAT WE ARE POLICING AGAINST.

NOW, WHAT'S REALLY UNIQUE ABOUT REDDIT, THOUGH, IS WE HAVE COMMUNITY MODERATION.

UNLIKE ANY OTHER PLATFORM, THE COMMUNITIES ARE EQUALLY RESPONSIBLE FOR THE SAFETY AND HEALTH OF THE CONVERSATION OF THE COMMUNITY.

SO THEY SET RULES, THEY HAVE MODERATORS WHO ENFORCE THOSE RULES.

THE VAST MAJORITY b ¦¦ >> Bonnie: DO YOU PAY FOR MODERATORS?

>> Jen Wong: WE DO NOT.

THEY ARE VOLUNTEERS WHO ARE PASSIONATE ABOUT THAT TOPIC.

A LOT OF THEM, THE VAST MAJORITY, HAVE POLICIES AGAINST SPEECH, ABOUT HARASSMENT ON TOP OF OUR BASELEVEL POLICY ALL BECAUSE THEY WANT TO KEEP THE CONVERSATION ON-TOPIC.

SO IT'S VERY UNIQUE.

NO ONE ELSE HAS THAT SYSTEM AND KIND OF SHARED RESPONSIBILITY.

AND FOR US, YOU KNOW, WE'VE BEEN AROUND FOR 14 YEARS NOW.

IT'S GROWN WITH US AND IT'S ONE THAT WE THINK SCALES.

>> Bonnie: HOW DO YOU CROSS THE LINE BETWEEN EXPRESSING YOUR DESIRES, EXPRESSING WHO YOU ARE AND BEHAVIOR?

TELL ME WHAT THAT BRIGHTLINE IS.

>> Jen Wong: YEAH> Bonnie: I MEAN, CAN YOU SAY, I AM AN OLDER MAN WHO LIKES TO HAVE SEX WITH UNDERAGE BOYS, ANYBODY ELSE OUT THERE WANT TO CONNECT WITH ME?

IS THAT BEHAVIOR.

>> RIGHT.

THE WAY WE THINK ABOUT BEHAVIORS IS IF YOU LOOK AT OUR POLICIES, IT'S ABOUT HARASSMENT, INCITING VIOLENCE, THINGS THAT CAN ACTUALLY HURT SOMEONE ELSE.

IT'S NOT SPEECH.

NOW, WE ALSO POLICE AGAINST OBVIOUSLY SEXUALIZATION OF MINORSHAT'S VERY IMPORTANT.

WE HAVE PROACTIVELY SPENT A LOT OF TECHNOLOGY AND HAVE A TEAM THAT IS WORKING TO MONITOR EVERYTHING HAPPENING ON REDDIT.

A PART OF THE BASE LEVEL OF POLICY.

BUT THERE ARE BRIGHT LINES IN TERMS OF BEHAVIORS.

IF YOU REVEAL SONY'S PERSONAL INFORMATION, WHAT'S KNOWN AS DOXXING, THAT'S A BRIGHTLINE BEHAVIORS.

>> Bonnie: WHAT DOES THAT STAND FOR?

>> Jen Wong: PUTTING SOMEONE'S PRIVATE PERSONAL ADDRESS ONLINE, FOR EXAMPLE.

>> Bonnie: BUT WHAT IS IT?

HOW DID YOU GET THAT NAME?

HOW, WHAT b ÃÃWHAT WORD IS THAT b ¦¦ >> Jen Wong: I CAN'T SAY I KNOW THE ORIGINAL DEFINITION OF DOXXING.

>> Bonnie: ANYWAY, PUTTING PERSONAL DOCUMENTS OR SAYING, YOU KNOW, LET'S SAY YOU ARE b ¦¦ >> Jen Wong: INCITING VIOLENCE.

>> Bonnie: RIGHT.

>> Jen Wong: SAYING, HEY, WERE GOING HERE TO COMMIT A CRIME, FOR EXAMPLE.

THOSE ARE BRIGHT LINES.

>> Bonnie: HAS REDDIT BEEN THE SOURCE OF DEMONSTRATIONS IN PARTICULAR b ÃÃLIKE, IN OTHER WORDS, DO TEENS GO THERE AND POST, LET'S GO OUT AND PROTEST THIS HORRIBLE THING THAT THE GOVERNMENT IS DOING TO US AND WE ARE ALL GOING TO MEET TOMORROW AT UNION SQUARE AT 10:00 TOMORROW IN THE MORNING?

> Jen Wong: IT HAPPENED WITH THE MARCH FOR SCIENCE IN SOME WAYS.

WE HAVE A GROUP INSIDE REDDIT CALLED R/SCIENCE OR COMMUNITY AROUND SCIENCE.

THERE IS ACTUALLY STRICT RULES THAT THAT GROUP HAS ABOUT HOW THEY DEFINE SCIENCE AND THE COMMUNICATION WITHIN THE GROUP.

BUT THEY ACTUALLY STARTED THE MARCH SCIENCE.

IT WAS IN THAT GROUP THAT THEY SAID, YOU KNOW, WE SHOULD MARCH AND GOT ORGANIZED AND LOTS OF OTHER SOCIAL MEDIA PLATFORMS , BUT IT STARTED ON REDDIT.

IT DOES HAPPEN THAT THINGS TURN IR L OR GO TO REAL LIFE, AND THAT JUST b ÃÃHONESTLY WHAT WE CALL PASSION TO ACTION WHICH HAPPENS ON REDDIT.

>> Bonnie: DO YOU, WE SEE THE STRUGGLES THAT ZUCKERBERG IS HAVING AT FACEBOOK WITH ALL OF THE b ÃÃWITH VERY SIMILAR ISSUES LIKE WITH TRAPPED b ÃÃWHAT'S FACT, WAS FICTION AND WHERE IS THE PROPER LINE FOR A CEO OR MANAGEMENT OF THE MAJOR SOCIAL PLATFORM TO STEP IN.

FIRST OF ALL, WHAT YOU THINK?

SECOND, DO THEY COPY YOU?

>> Jen Wong: I THINK WE ARE, I WOULD SAY WE ARE QUITE DIFFERENT IN OUR APPROACH.

OBVIOUSLY, I CAN TALK BETTER TO HOW REDDIT APPROACHES IT.

THINK OF US AS A LOOSE FEDERAL GOVERNMENT, RIGHT?

WE HAVE A SET OF RULES LIKE ALMOST LIKE A BILL OF RIGHTS, FUNDAMENTAL BEDROCK FOR THE PLATFORM, THE COMMUNITY, AGAINST THOSE THINGS LIKE HARASSMENT INCITING VIOLENCE THAT WE POLICE.

ON TOP OF IT, THINK OF THE COMMUNITIES AS STATES' RIGHTS.

RIGHT?

THEY FORM THEIR COMMUNITY, THEY HAVE RULES, THEY GOVERN THOSE ON TOP OF OUR LAYER OF POLICY, AND WE SHARE THE BURDEN OF MAKING SURE THAT THE COMMUNITY IS SAFE AND THAT THE CONVERSATION THAT THEY ARE HAVING REMAINS ON-TOPIC FOR BAKING, POLAROIDS, INDIE ROCK, WHATEVER IT IS.

AND THAT IS A FUNDAMENTALLY VERY UNIQUE APPROACH BECAUSE WE SHARE THAT RESPONSIBILITY.

OUR USERS CRAFT RULES.

OUR MODERATORS HELP ENFORCE RULES.

WE SHARE THAT RESPONSIBILITY.

THAT'S VERY DIFFERENT THAN OTHER PLATFORMS.

IT'S VERY UNIQUE TO US.

>> Bonnie: DO YOU THINK IT WOULD BE POSSIBLE TO DO IF YOU WERE THE COO AND USE THAT ALL THE RULES AS OPPOSED TO, AND YOU HIRED PEOPLE TO POLICE THE COMMUNITIES AS OPPOSED TO ESSENTIALLY HAVING THEM VOLUNTEER TO POLICE THEMSELVES?

>> Jen Wong: THAT'S NOT OUR APPROACH.

THE ONE BUT I MEAN, I KNOW IT'S NOT YOUR PITCH, BUT WOULD BE MORE DIFFICULT, DO YOU THINK?

>> Jen Wong: YEAH.

I THINK IT WOULD BE DIFFICULT, BECAUSE THIS IS WHY PHILOSOPHICALLY WE BELIEVE IN POLICING BEHAVIORS, NOT SPEECH, RIGHT?

BECAUSE THAT'S, THAT'S HARD TO ENFORCE IN A CONSISTENT, CLEAR WAY.

BUT BEHAVIORS ARE BRIGHTER LINES.

AND SO, WE ARE FOCUSED ON THAT, AGAIN, AS THE FEDERAL GOVERNMENT, THE BASE.

COMMUNITIES HAVE DIFFERENT OBJECTIVES, RIGHT?

ONE GOAL IS TO HELP PEOPLE THROUGH INFERTILITY, ANOTHER GOAL MIGHT BE TO HAVE A DEBATE ABOUT SCIENCE.

BASED ON WHAT THE CONTEXT AND THOSE OBJECTIVES ARE, THOSE COMMUNITIES SET OF RULES THAT MAKE SENSE FOR THEM.

AND IT REQUIRES NUANCE, RIGHT?

WHEN YOU ARE TRYING TO TALK ABOUT DATA AND FACTS, IT'S DIFFERENT THAN FIGURING OUT, YOU KNOW, WITH THE BEST BREAD RECIPE IS.

AND THAT NUANCE BECOMES REALLY IMPORTANT, AND YOU CAN'T DO THAT CENTRALLY.

>> Bonnie: YEAH.

SO TELL ME ABOUT THE DOWNLOAD.

>> Jen Wong: SO UNLIKE OTHER PLATFORMS, WE'VE ALWAYS HAD A DOWNLOAD WHERE YOU CAN HAVE b ÃÃ WERE YOU USERS CAN CREATE A NEGATIVE SIGNAL ON THE POST.

YOU CAN BASICALLY SAY THIS POST EITHER VIOLATES VALUES, VIOLATES RULES, IS NOT QUALITY CONTENT, AND THAT SIGNALS REALLY POWERFUL, BECAUSE IF YOU ONLY HAVE A POSITIVE SIGNAL, YOU DON'T ACTUALLY KNOW WHAT THE NEGATIVE SIGNAL WOULD BE.

YOU MIGHT HAVE A MILLION OF THE VOTES WHEN I REALIZE YOU WOULD HAVE 5 MILLION DOWNVOTE'S AND THAT'S IMPORTANT BECAUSE WHEN YOU HAVE THE DOWNVOTE, IT SEEMS THE CONTENT SO THAT IT DOES NOT SPREAD, BECAUSE IT'S JUST NOT QUALITY CONTENT.

IT'S A VERY POWERFUL FEATURE.

>> Bonnie: WELL, WHAT IF SOMEONE IS DOING IT OUT OF PERSONAL SPITE AGAINST A BUSINESS OR SOMETHIG THAT'S RUN BY A PERSON THEY DON'T LIKE?

HOW DO YOU CONTROL FOR THAT?

>> Jen Wong: THEY COULD, BUT REDDIT IS VERY DIFFERENT THAN OTHER SOCIAL PLATFORMS AND THAT EVERYTHING STARTS WITH AN IDEA OR A POST, AND IT HAS TO START IN THE COMMUNITY WHO IS KNOWLEDGEABLE AROUND THE POST.

SO IT'S NOT LIKE IT GOES INTO THE WILD AT THE BEGINNING.

IT STARTS IN THE COMMUNITY TO JUDGE THE MERITS OF THAT POST.

EVERYONE GETS ONE-VOTE, SO THERE IS NOT A FOLLOWERSHIP SYSTEM WHERE, HEY, I'VE BEEN ON THIS PLATFORM FOR 10 YEARS, I HAVE A MILLION FOLLOWERS.

WONDERSHARE AND I JUST MADE SOMETHING GO VIRAL, YOU GET ONE-VOTE.

AND THEN I HAVE TO MAKE IT OUT OF THE COMMUNITY, AND THEN , ONLY THEN, DOES IT GO TO REST OF REDDIT.

IT'S A VERY DIFFERENT SYSTEM THAT DOESN'T b ÃÃTHAT IS JUDGING A INDIVIDUAL PIECE OF CONTENT OR IDEA WITH ONE-VOTE, WHEN USERS.

>> Bonnie: SO LET'S GO BACK TO YOU FOR A SECOND AND WILL GET BACK TO REDDIT.

BUT HOW DID YOU MAKE IT IN WHAT IS ESSENTIALLY A MAN'S WORLD?

I MEAN, SO MANY WOMEN HAVE COME BACK FROM TECH AND SAID, YOU KNOW, TO HECK WITH THIS.

I CAN'T GET ANYWHERE, I CAN'T RAISE MONEY, WHICH IS THE MOST IMPORTANT THING.

I'M SUBJECT TO DIFFERENT STANDARDS.

IT IS A BOYS' CLUB.

THEY DON'T TALK TO ME.

THEY KEEP ME OUT.

HOW DID YOU GET THROUGH ALL THAT?

>> Jen Wong: WELL, I HAVEN'T FOUNDED A COMPANY, SO I HAVEN'T HAD TO GO THROUGH RAISING CAPITAL, THOUGH I HAVE A NUMBER OF FRIENDS WHO HAVE, AND IT IS HARROWING.

IT IS NOT AN EASY EXPERIENCE.

>> Bonnie: HAVE YOU BEEN ABLE TO HELP THEM?

>> Jen Wong: I DO HELP THEM THINK ABOUT HOW INVESTORS THINK.

AND I GIVE ADVICE ON BUSINESS PLANS, AND IT'S INTERESTING HOW, JUST BASED ON MY EXPERIENCE AND OBSERVATION, I THINK WOMEN ARE GREAT PROBLEM SOLVERS.

THEY, YOU KNOW, AND THEY SOLVE PROBLEMS EVERYDAY FOR THEMSELVES AND FOR FRIENDS WHO SHARE COMMON PROBLEMS.

IF YOU LOOK AT THE WAY BUSINESS PLANS ARE WRITTEN FOR PITCHING PER CAPITAL, IT'S SOLVING PROBLEMS, BUT THINKING ABOUT IT AT A TREMENDOUS SCALE THAT'S BEYOND SOLVING IT FOR ME OR PEOPLE LIKE ME, BUT SOLVING IT FOR EVERYONE.

YOU JUST TAKE THIS LEAP OF I'M GOING TO SOLVE IT FOR THE WORLD.

AND THAT'S WHAT GET TO THE BIG CAPITAL, RIGHT, IS WHEN YOU THINK IT'S FOR EVERYBODY.

AND SO, THAT'S OFTEN WHAT I SAY, YOU KNOW, IF YOU TAKE THAT GREAT IDEA AND PROBLEM-SOLVING MINDSET AND TRY TO SCALE IT TO THIS IS GOING TO BE A MASSIVE IDEA, THE KIND OF CHANGES I THINK THE FRAMEWORK, ANYTHING THAT'S A LOT OF THE CONVERSATION THAT HAPPENS WHEN THERE IS PITCHING FOR CAPITAL.

FOR ME, I FEEL b ¦¦ >> Bonnie: DO YOU DO ANY INVESTING AT REDDIT?

DOES REDDIT INVEST IN STARTUPS OR BUY STARTUPS?

>> Jen Wong: IT COULD IF IT MADE SENSE FOR THE BUSINESS.

>> Bonnie: BUT IT HASN'T?

>> Jen Wong: NOT RECENTLY.

I PERSONALLY INVEST A LITTLE BIT AND I ADVISE A LITTLE BIT.

>> Bonnie: NOW, WITH REDDIT HAVING ALL THESE COMMUNITIES, TELL ME WHAT HAPPENED WHEN YOU HAD TO SET ASIDE OR SHUT DOWN OR WHATEVER IT IS WHAT THEY DID WITH THE TRUMP COMMUNITY?

TELL ME WHAT HAPPENED.

>> Jen Wong: YEAH.

SO WE QUARANTINED A GROUP CALLED THE DONALD WHICH IS COMMUNAL, A LARGE TRUMP SUPPORTER COMMUNITY.

AND THE REASON WHY WAS FOR BEHAVIOR, JUST BREAKING SOME OF OUR RULES AND POLICIES.

FOR US, LIKE I SAID, IT'S ABOUT POLICIES, NOT ABOUT BELIEFS.

SO b ÃÃIN THE REASON WHY IS BECAUSE NEGATIVE BEHAVIORS CAN HURT THE OVERALL HEALTH OF THE COMMUNITY, AND THAT IS WHAT WE ARE FOCUSED ON, IS SORT OF THE SANCTITY AND SAFETY OF THE OVERALL COMMUNITY.

>> Bonnie: DOES ANYBODY EVER, DOES THE THREAT OF A POP UP, A THREAT OF VIOLENCE, LET'S SAY, POP UP ON REDDIT AND THEN GET SHUT DOWN, OR DOES IT NEVER GET TO THE CHANCE WHERE IT POPS UP?

> Jen Wong: WE ARE PRETTY GOOD AT PROACTIVE MONITORING.

AND, AGAIN, WE HAVE A DOWNVOTE SYSTEM WHICH HELPS, BECAUSE USERS HAVE AN EQUAL VOICE IN SIGNALING TO US.

THE OTHER THING THAT HAPPENS IS WE ARE VERY TRANSPARENT.

ONE OF OUR FUNDAMENTAL VALUES AS A COMPANY IS A DEFAULT OPEN AND JUST TRANSPARENCY.

SO WHEN WE FIND A PATTERN OF SUSPICIOUS ACTIVITY, WE ACTUALLY WRITE A PRETTY DETAILED REPORT AND SHARE IT WITH OUR USERS SO THAT THEY UNDERSTAND WHAT THESE ACTORS DO, AND THEY CAN ACTUALLY HELP US IDENTIFY IT.

SO WE FOUND THAT THAT IS A REALLY GOOD PROCESS OF GETTING JUST BETTER AND BETTER AT IT OVER TIME.

>> Bonnie: YOU MENTIONED EARLIER ABOUT THE SCIENCE COMMUNITY AND, AND BEING SORT OF THE GENESIS OF THE SCIENCE MARCH.

WHAT, IF ANY, IMPACT DO YOU EXPECT REDDIT USERS TO HAVE OR TO GALVANIZE THROUGH REDDIT IN THE 2020 ELECTION?

>> Jen Wong: WELL, POLITICAL DISCOURSE IS REALLY IMPORTANT ON REDDIT.

IT'S SOMETHING OUR USERS ARE VERY ENGAGED WITH.

YOU KNOW, NEWS AND POLITICS EVERY DAY, PEOPLE COME TO REDDIT FOR THE COMMENTARY TO REALLY DEAL WITH THINGS LIKE RAP RHAPSODY OF INFORMATION, DIFFERENT POINTS OF VIEW, YOU WILL SEE IN THE COMMENTS, HEY, THIS IS WANT TO, HERE ARE THREE OTHER LINKS WITH ANOTHER TAKE ON THIS EVENT, FOR XAMPLE.

POLITICAL DISCOURSE IS IMPORTANT.

WE ENCOURAGE CANDIDATES TO COME ON REDDIT AND ENGAGE WITH THEIR AUDIENCES, AND THAT IS, YOU KNOW, PART OF WHAT PEOPLE DO ON REDDIT.

WE EXPECT b E ARE SEEING THAT GROW, AS YOU WOULD EXPECT, DURING AN ELECTION YEAR.

IT'S GREAT.

I MEAN, IT'S ABSOLUTELY IMPORTANT PART OF THE DIALOGUE.

>> Bonnie: TELL ME ABOUT, YOU'VE DOUBLE THE SIZE OF REDDIT OR THE REVENUE OF REDDIT SINCE YOU WERE THERE.

>> Jen Wong: AND BEFORE I WAS THERE.

>> Bonnie: WELL, BUT, WHILE YOU ARE THERE.

>> Jen Wong: YEAH.

>> Bonnie: HOW DID YOU CONTRIBUTE TO THAT?

AND WHAT CHANGES DID YOU MAKE?

>> Jen Wong: SO I JOINED A LITTLE LESS THAN TWO YEARS AGO.

AND IF YOU THINK ABOUT MY BACKGROUND, I'VE SPENT TIME AT LARGE PUBLIC COMPANIES AND THEN SMALLER PRIVATE GROWTH COMPANIES LIKE POP SUGAR, THOSE VENTURE BACKED.

AND SO I HAVE A BLEND OF ABILITY TO b ¦¦ >> Bonnie: SORRY TO INTERRUPT, BUT WITH A POP SUGAR DO?

WHAT IS IT, WHAT KIND OF SITE?

>> Jen Wong: SO POP SUGAR WAS A VENTURE BACKED COMPANY THAT HAD TWO BUSINESSES, ONE WAS A CONSUMER MEDIA BUSINESS AROUND WOMEN'S LIFESTYLE, EDITORIAL AND VIDEO, AND THAT I HAVE A SHOPPING SEARCH ENGINE CALLED SHOP STYLE IT AND THEN I WORKED AT A LARGE PUBLIC COMPANY, FOR EXAMPLE, I WAS LED TO DIGITAL AND WAS CEO TIMING, LARGE PUBLISHING COMPANY WITH BRANDS LIKE PEOPLE IN INSTYLE, AND TIME THAT HAD BOTH PRINT AS WELL AS DIGITAL.

AND SO, HAVING OPERATED IN BOTH ENVIRONMENTS, I THINK I TRY TO BRING THE BEST OF BOTH WORLDS TO WHATEVER I AM DOING.

SO IN THIS CASE, WHERE PRIVATE COMPANY.

WE ARE IN GROWTH MODE.

THAT'S GREAT.

YOU SORT OF CONTROL YOUR OWN DESTINY, BUT THE THINGS THAT WILL BE NEWER ARE BUILDING OUT INFRASTRUCTURE AND SYSTEMS THAT MAKE THIS REPEATABLE AND ALLOW US TO SCALE.

HOW DO YOU BUDGET?

THAT'S ACTUALLY A NEW DISCIPLINE FOR THE COMPANY.

>> Bonnie: WHERE IS YOUR INCOME STREAM?

>> Jen Wong: ME IN THE ADVERTISING TODAY.

WE HAVE 2:, TWO STREAMS: ONE IN ADVERTISING.

>> Bonnie: SO PEOPLE BUY EXPOSURE ON b ¦¦ >> Jen Wong: BRANDS BY EXPOSURE ON REDDIT.

SECOND IS A CURRENCY CALLED REDDIT GOLD.

>> Bonnie: LIKE BICKLEY?

>> Jen Wong: IS DIFFERENT THAN BITCOIN AND THAT IS NOT CRYPTOCURRENCY.

IT'S JUST A CURRENCY YOU CAN USE ON REDDIT, KIND OF LIKE IF YOU GO IN A GAME AND THERE ARE COINS, YOU BUY INTO THE COIN AND THEN YOU CAN USE THE COIN TO BUY TOWARDS OR TRANSACT WITHIN THE SYSTEM, SIMILAR TO THATUR USERS USE THAT TO JUST BUY A WAYS TO BASICALLY PRAISE OTHERS FOR GOOD COMMENTS AND GOOD POSTS.

>> Bonnie: NICE!

IT'S LIKE A GOOD NEWS SITE ALMOST IN A SENSE.

>> Jen Wong: YEAH.

THERE'S A LOT OF ALTRUISM AND FUN AND AWARDS.

THERE'S A LOT OF APPRECIATION THAT PEOPLE SHOW EACH OTHER, AND IT'S AMAZING BECAUSE THEY SPEND THEIR OWN MONEY TO DO IT.

>> Bonnie: SO HOW DO YOU SEE INCREASING THE REVENUE STREAM IN THE FUTURE?

IF YOU WELL, I THINK YOUR ADVERTISING BUSINESS IS OFF TO A REALLY GOOD START.

IT HAS BEEN DOUBLING, AND WE ARE WORKING WITH LEADING BRANDS AS WELL AS, YOU KNOW, CHALLENGER BRANDS, SORT OF LARGE AND SMALL.

AND I'M EXCITED, BECAUSE WE'VE INVESTED A LOT IN THE PRODUCT.

YOU KNOW, OUR GOAL IS TO ELEVATE THE RELATIONSHIP BETWEEN BRANDS AND THEIR CUSTOMERS IN THE COMMUNITY ENVIRONMENT.

THERE'S SOMETHING REALLY SPECIAL ON REDDIT.

YOU THINK ABOUT HOW PEOPLE SPEND THEIR DIGITAL TIME.

ONE OF THE STRUGGLES IS HOW DO I SPEND QUALITY TIME WITH THEM ON MY PHONE AND SORT OF CAMINO, IN MY DIGITAL LIFE?

BECAUSE I'M SPENDING TIME WITH FRIENDS AND FAMILY, THEY, THEY MAY NOT BE TALKING ABOUT TOPICS THAT I CARE ABOUT, BUT THEY ARE PEOPLE I CARE ABOUT SO THAT'S IMPORTANT.

BUT IN SCHOOL AND THROUGH THAT JUST TO KEEP CURRENT.

I MIGHT HAVE A NEW FAD OR SOMETHING THAT I'M PLAYING WITH.

I MIGHT BE WATCHING A VIDEO.

AND THEN THERE IS AN INTENTIONAL TIME, THERE IS TIME AROUND THE THINGS THAT I CARE ABOUT, TOPICS THEY CARE ABOUT LIKE THE COMMUNITIES IN REDDIT, INTERESTS I MIGHT HAVE, YOU KNOW, THINGS I WANT TO UNDERSTAND BETTER.

SO WE THINK ABOUT REDDIT AS INTENTIONAL TIME WHERE PEOPLE COME IN THIS, LIKE, OPEN MINDSET WHERE THEY ARE TRYING TO LEARN AND UNDERSTAND AND WILLING TO GO INTO A TOPIC AND GO IN WITH DEPTH, NOT JUST SCROLL 100 THINGS IN 10 SECONDS, BUT ACTUALLY SPEND MINUTES.

AND SPECIFICALLY 37 MINUTES A DAY ON REDDIT GOING THROUGH A HANDFUL OF TOPICS THAT THEY REALLY CARE ABOUT.

IF YOU ARE A BRAND AND YOU WANT TO SPEND TIME WITH THEIR CUSTOMERS, THAT'S AN AMAZING MOMENT TO SPEND TIME WITH THEM.

AND WHAT'S GREAT IS THAT REDDIT USERS, THEY ACTUALLY LOVE BRANDS.

A LOT OF PEOPLE LOVE BRANDS.

AND THEY WANT BRANDS TO BE A PART OF THE CONVERSATION AND AN EQUAL MEMBER IN THE COMMUNITY.

AND OUR JOB IS TO HELP BRANDS DO THAT WELL.

>> Bonnie: DO YOU EVER HAVE TO SCREEN BRANDS, THOUGH?

BECAUSE THEY ARE BRANDS THAT GET INTO TROUBLE.

OBVIOUSLY NOT ALL b VEN VERY BIG, WELL-KNOWN BRANDS GET SOME EVIL ACTORS INTO THEIR MANAGEMENT AND NASTY STUFF HAPPENS.

>> Jen Wong: YEAH.

WHAT I SAY WITH BRANDS, SO WE HAVE A COUPLE THINGS: ONE IS WE HAVE OUT POLICY.

IT'S IMPORTANT THAT EVERY AD MAKES SURE THAT IT'S ACCURATE INFORMATION, NOT MISLEADING AND WE HAVE OUT POLICY FOR THAT.

WE HAVE HUMAN REVIEW OF THE ADS, AND THAT'S REALLY IMPORTANT FOR MAKING SURE THE ADS ARE OF INTEGRITY OF WHAT RUNS ON REDDIT.

BUT, YOU KNOW, AS A BRAND, WHAT WE DO IS TALK TO THEM ABOUT IT.

OKAY, THIS IS KNOWING YOUR BRAND, THIS IS THE COMMUNITY YOU PROBABLY HAVE AN AFFINITY WITH, THIS IS A COMMUNITY WILL HAVE THIS THOUGHT ABOUT YOU, LIKE HOW WOULD YOU OPEN A CONVERSATION WITH THEM?

SO I THINK THERE IS A RANGE OF WAYS TO INTERACT.

BRANDS HAVE LONG HISTORIES.

YOU'RE ALWAYS GOING TO HAVE LOVERS, YOU KNOW, YOU'RE NOT ALWAYS UNIVERSALLY LOVED, AND THAT'S OKAY.

>> Bonnie: YEAH.

I MEAN, LOOK AT VICTORIA'S SECRET, WHICH FOR SO LONG WAS THE, YOU KNOW, THE BIGGEST IN ITS FIELD AND NOW IS FALLING APART.

YOU KNOW, THAT SORT OF STUFF.

ONE FINAL QUESTION I WANT TO ASK YOU: YOU TALKED ABOUT BEING PRIVATE.

ARE YOU EVER GOING TO GET SO BIG THAT YOU'RE JUST GOING TO HAVE TO GO PUBLIC?

IS THERE ANY TALK ABOUT THAT?

>> Jen Wong: IT COULD HAPPEN, BUT I b ÃÃTHE WAY I THINK ABOUT THAT AS WE WILL JOAQUIN THIS YEAR, AND WHEN I THINK ABOUT THAT, WHICH IS AN INCREDIBLE MILESTONE, ESPECIALLY IN DIGITAL LIFE, I KNOW WE ARE GOING TO BE AROUND FOR ANOTHER 15 YEARS.

IN GOING PUBLIC IS, YOU KNOW, IT'S POTENTIALLY A MILESTONE ALONG THE WAY TO ACCESS CAPITAL SHOULD YOU BE A GREAT SELF-SUSTAINING COMPANY.

THAT'S WHAT HAPPENS WITH GREAT SELF-SUSTAINING COMPANIES.

BUT I THINK A VERY LONG VIEW, AND WHAT WE ARE FOCUSED ON IS OUR MISSION.

AND WHEN I THINK ABOUT FROM THE BUSINESS STANDPOINT IS THE TALL FEEL FOR THE MISSION.

AND IF YOU TAKE A LONG VIEW, YOU KNOW, THAT MAY BE A MILESTONE ALONG THE WAY, BUT IT'S NOT THE END GOAL.

>> Bonnie: WELL, BEST OF LUCK TO YOU.

CONGRATULATIONS ON YOUR TRACK RECORD SO FAR, WHICH IS NOTHING SHORT OF AMAZING.

AND THANK YOU SO MUCH FOR YOUR TIME.

>> Jen Wong: THANK YOU SO MUCH, BONNIE.

>> Bonnie: THAT'S IT FOR THIS EDITION OF "TO THE CONTRARY".

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