Reddit Co-Founder Alexis Ohanian; A Pitch for Restaurant Rescue

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 13 November 2020

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Social media entrepreneur and venture capitalist Alexis Ohanian urges Americans to consider the role social platforms should play in society. He examines where the Internet started, where it’s going, and how the “levers of power should be wielded.” He and Aylon Steinhart, founder of plant-based ice cream company Eclipse, outline a positive outlook for the startups and entrepreneurs who’ll emerge from the collective trauma and chaos of 2020. Restaurateur Cameron Mitchell operates over 30 establishments across the country, but he needs additional government stimulus to keep his business afloat. Plus, CNBC’s Robert Frank reports that the wealthy are hoping to pay for early access to Covid vaccines, and Elon Musk reports that his own Covid tests are testing his patience.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today on our podcast.
0:07.0	Reddit co-founder Alexis Ohanian goes on the record about social media platforms,
0:11.8	activism, and the internet's role in democracy.
0:14.8	There is a legitimacy that comes with seeing a hate group or conspiracy theory in a feed
0:21.0	right alongside, you know, your uncle celebrating his promotion.
0:25.0	We need to understand what role we want these systems to play.
0:29.0	2020's been hard on all of us, but O'Hanean says because of it all it's been an inspiring time for venture capital.
0:36.2	As painful as this year has been, I can't help but feel like the companies that are getting founded right now
0:41.6	are going to be more purposeful, more
0:43.2	intentional, and have a bigger impact than any of the ones that I've seen.
0:47.8	But for established business owners like restaurateur Cameron Mitchell, the pandemic
0:51.6	outlook is less optimistic.
0:53.4	Restaurants can actually lose more money
0:55.9	than they could being shut down at 25% sales.
0:59.2	I know for a fact we're starting to lose money now.
1:03.0	Those stories, plus Elon Musk is getting tested, a lot, and wealthy Americans are expecting
1:08.2	a leg up in the race for a coronavirus vaccine.
1:11.0	To them, to the wealthy right now, there is nothing more important to
1:14.0	spend your money on than trying to get this vaccine.
1:17.7	It's Friday.
1:18.7	It is Friday the 13th. This is the second Friday to 13th of 2020.
1:24.0	Squawk Pot begins right now.
	...

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