Alexis Ohanian on investing in women's sports, AI, and the future of Asia

Cannes Lions has long been a crucible for the convergence of technology, social trends, advertising, and marketing, driving discussions that shape the industry's future. This year, the event underscored the accelerating merger of artificial intelligence, digital innovation, and creative strategy, with these intersections not only transforming how brands engage with consumers but also reshaping the fabric of creativity and communication moving forward. With guests like Elon Musk gracing the main stage, how could it not?

It was also no wonder then, that Alexis Ohanian made an appearance at this year's festival, speaking at multiple occasions throughout the week—including at the Bloomberg Media Bistro.

Synonymous with tech innovation, venture capitalism, and entrepreneurship, Ohanian was at Cannes Lions to delve into the convergence of tech, social impact, women's sport, space travel, AI, and much more. Ohanian is best known as the co-founder of Reddit, the platform that revolutionised online communities and discourse. His journey from building one of the internet’s most influential sites to becoming a leading venture capitalist through his new firm, Seven Seven Six (776) is a notable one, with particular weightage given to his personal ethos and motivations behind doing so.

Founded in 2020, 776 draws its name from the year of the first Olympic Games, symbolising the potential for greatness in unexpected places. Ohanian established the firm with a mission to back ambitious founders who aim to create world-changing companies. The firm also focuses on a broad spectrum of industries, including AI, space travel, and women’s sports. Ohanian's deeply personal investment approach in the venture comes as no surprise, considering his marriage to tennis legend Serena Williams with whom he has two daughters. He also credits Williams with reshaping his views on women’s sports—including the championioning of inclusivity and excellence.

Ohanian is married to tennis legend, Serena Williams. Photo: Photo by Axelle/Bauer-Griffin/FilmMagic/Getty Images.

During his session at the Café, Ohanian shared the inspiration behind 776 with Bloomberg Media's Emily Chang, recounting the tale of a chef who won the first Olympic foot race to underline the firm's commitment to discovering and nurturing greatness. "The mindset we wanted to create from day one was this relentlessness of needing to pursue and seek out greatness," he explained, emphasising that building a business that champions these values reflects how his experiences have shaped his approach to investment and entrepreneurship.

Ohanian, alongside 776 founding partner Katelin Holloway, also explored a wide array of other topics during the session—including their investments in space and deep tech, highlighting projects like Interstellar, which aims to mine helium-3 from the moon. “Deep tech, and space tech in particular, is actually properly hyped,” Ohanian noted, pressing these technologies' potential to address long-term challenges on Earth. Holloway shared her initial scepticism turned optimism about such ventures when she saw the possibilities, "I thought there's no way they're going to be able to do this... but the reality is they are going to the moon to bring back resources that will actually prolong life on Earth."

The conversation also delved into the rapid advancements in AI. While acknowledging the challenges and risks, Ohanian expressed measured optimism about AI's potential to enhance user experiences. He highlighted a hardware company 776 has invested in, focused on creating intuitive AI interfaces. “The technologies making hardware are getting cheaper and better, and the importance of taste and design and execution matter more than ever in this age of AI,” he said.

On the topic of open-source AI, Ohanian addressed Meta's decision to open-source their AI models. Despite potential security risks, he argued that open-source AI fosters innovation and democratises access to powerful tools. Drawing on his experience with Reddit, a platform built on open-source software and contributions, he stated, “Open source has had such a big impact... we’d be hypocrites if we were saying no, but this technology is different.” 

Reflecting on his departure from Reddit, Ohanian spoke about the principles that led to his decision to leave. He emphasised his commitment to creating a safe online environment and how fatherhood has influenced his values. “I have very strong opinions about things like violence on the platform, or hate, racism, and anti-Semitism, and really believe that it was our responsibility to not have communities that explicitly fostered this type of content,” he said, stressing the importance of his children growing up proud of his values.

After his session, Campaign caught up with Ohanian to chat further, with an accent on the Asia-Pacific region. Here, he shared deeper insights into his vision for the Asian market, particularly Japan. Ohanian clarified that while 776 is not focused on region-specific startups, they are keen on Japanese companies with global potential. “If there’s a company based in Japan that’s building software that does XYZ, or building hardware that could be sold to Americans, like awesome,” he exclaimed. Ohanian also shared his experience visiting Japan in March 2024, where he was invited  to speak at a startup event by X&KSK, a Japanese fund headed by former national soccer player Keisuke Honda—enabling him to immerse himself in the local ecosystem and assess potential opportunities.

Reflecting on his approach to long-term investments, Ohanian mentioned a strategy inspired by Jeff Bezos. “We look at 10 years and try to think what is not going to change. And so as we're thinking about building a generational firm, I want to make sure we have deep relationships in regions where American alliance and incentives are already aligned,” he said. For Ohanian, Japan stands out due to its long history of alliance with the US since 1945 and the deep, enduring ties between the two nations. “When I look to Asia, Japan is a no-brainer. A long history of alliance since 1945 and deep, deep ties, and I think, a relationship that's only going to be stronger 10 years from now,” he emphasised.

He noted a personal connection to Japan, citing his love for coffee and how he was surprised to find some of the best coffee in the world in a country historically known for tea. “I’m a coffee snob, and I spend way more money than I should on great coffee. I’ve sought out the best coffee in the world. Imagine my surprise, a few years ago, finding it in Japan,” he joked. Ohanian attributed this to the Japanese cultural principle known as kaizen, or continuous improvement. “It’s this relentless pursuit of excellence. At some point, some Japanese [people] were just like, hey, we want to make the best coffee in the world. And they have done it! It's an amazing country, and I plan to be back again before the end of the year,” he shared.

Ohanian also sees significant opportunities in other parts of Asia, including India and Singapore, as well as the Emirates, emphasising the importance of building networks in regions with strong long-term potential. “You spend time in South Asia, India in particular, is another no-brainer in terms of long-term relationships only getting stronger over the next 10 years. The Emirates, despite being small, are like neutral territory for everyone to do business and transact. Singapore’s another one. It’s funny with, you know, the F1 locations, but there’s an interesting correlation. Maybe it’s the summits,” he remarked. “I want to make sure we're building a network of relationships and contacts. We know we're doing it in the places that 10 years from now, we're going to be really excited to have invested."

Finally, addressing the perception that Cannes Lions is becoming too tech-centric, Ohanian argued  that technology is integral to all industries. “This is just one more illustration of the fact that every business needs to be a technology business,” he asserted. He views technology not as a threat to creativity but as an enabler. “I'm a tech optimist, so I'm excited by these tools. I love these [new creative] tools because they help me ideate faster, because I know they're going to give me superpowers. We're going to give people who are much better than me even greater superpowers."