AI's Game-Changer: Why Alexis Ohanian Sees $1 Billion Potential in Live Entertainment—Are You Missing Out?

At the BRIDGE Summit in Abu Dhabi on Monday, Alexis Ohanian, the co-founder and former executive chairman of Reddit, introduced himself by reflecting on the complexities of the online landscape. “You’d be hard pressed to find someone who has spent more time building or obsessing over the online zeitgeist, for better or for worse,” he stated, setting the stage for a discussion that delved into the implications of artificial intelligence (AI) on social media platforms.

Ohanian, now a founding partner at the venture capital firm Seven Seven Six, emphasized that being “chronically online” was once an integral part of his job. During a conversation with TIME executive editor Nikhil Kumar, he underscored how AI has transformed platforms like Reddit, which historically acted as vibrant centers for community interaction. “Conservatively, I’d say 20% of all the content we see on social media is fake in some form or another,” he remarked, echoing concerns related to the so-called “dead internet theory.” This theory suggests that a significant portion of online content is fabricated, raising questions about the authenticity of social media interactions.

Ohanian elaborated on the pervasive nature of this issue, noting that “no one really is immune.” He explained that AI models, which often train on social media data, have inadvertently fueled the rapid creation of content designed to manipulate these platforms. This shift has rendered online spaces less human and more automated, prompting a need for solutions to restore authenticity. “Someone is going to have to crack what the next wave of social media looks like that verifies humanity or somehow allows us to understand who is real, without scanning everyone’s retina,” he commented, reflecting on the challenges ahead.

Despite these concerns, Ohanian maintains an optimistic outlook on the future of technology. He noted that as screens become even more addictive and immersive, there may also be a heightened yearning for real-world experiences. “When our screens get 100 times more addictive and better, I think a part of our humanity suffers,” he said. However, he believes this will also lead to an increase in demand for live events, which could emerge as invaluable experiences in a world dominated by AI. “Live events are going to be one of the, I think, best parts to come out of this AI wave that folks don’t, maybe, intuitively consider.”

Ohanian's insights extend beyond social platforms to the realm of sports and entertainment. As the lead investor in the professional women’s soccer team Angel City FC, he remarked on the “undeniable” humanity inherent in sports. He expressed a positive outlook for theater, predicting its resurgence in the next decade as people increasingly value in-person interactions. The COVID-19 pandemic highlighted the significance of community connection, and Ohanian believes that in a post-AI world, “coming together in person, live events is the last place left in entertainment.”

Ohanian's remarks at the BRIDGE Summit not only reflect the ongoing discourse around AI and social media but also emphasize the importance of maintaining human connection in an increasingly digital world. As technology advances, the challenge will be to foster environments where genuine interactions can thrive, ensuring that the essence of community is preserved amid the noise of misinformation and automation.