Emily Chang: This is Bloomberg Technology. I'm Emily Chang. Now, back to our top story, the FCC voting to overturn the Obama era internet protections known as net neutrality.
One of the top sites in defense of net neutrality has been the online community Reddit. Its users have been very vocal in their anger over the FCC's vote. CEO Steve Huffman wrote a post saying, "Today's vote is the beginning, not the end. While the fight to preserve net neutrality is going to be longer than we had hoped, this is far from over. Reddit will continue to be involved in this issue in the way that we know best, seeking out every opportunity to amplify your voices and share them with those who have the power to make a difference."
Joining me now, the author of that post, Reddit's CEO and co-founder, Steve Huffman. So, Steve, Commissioner Brendan Carr was on the show earlier talking about why he thinks today is a great day. You think today is a not so great day. Why?
Steve Huffman: Well, so today was a big setback for people who believe in a free and open and fair internet. The real winners today are ISPs, particularly large ISPs, who are also large media companies who would like nothing better than to pick winners and losers online and to stifle competition.
Emily Chang: Let's take a listen to what Commissioner Carr had to say on that very point. Take a listen.
Brendan Carr: Those are the ones who have been hurt worse by this decision. So I look forward, when we repeal this Title II rule, those providers are going to have an easier time competing, getting money. And consumers are going to benefit as a result of that increased competition from repealing Title II.
Emily Chang: He's saying smaller ISPs will benefit. Do you think he's wrong?
Steve Huffman: I do think he's wrong. I can't remember the last time deregulating monopolies increased competition. I think that's nonsensical, to be honest.
Emily Chang: So how do you see this playing out? I mean, what are the consequences?
Steve Huffman: Well, if net neutrality is absolutely gone-- and to be fair, we have a long ways to go before we get to that point-- we'll be back where we were 10 years ago. And there's plenty of examples of ISPs abusing their power back. For example, AT&T blocking Skype. Right? AT&T charging extra to use FaceTime. Comcast blocking BitTorrent. If they had the opportunity to kill Netflix when it was in the womb, I'm sure they would have done so.
Emily Chang: Do you think those are the kinds of things that are going to happen now if indeed--
Steve Huffman: Absolutely. I think they're only more savvy. There's only more competition online. And the stakes are as high as ever, because the internet is largely replacing a lot of older forms of media.
Emily Chang: So you think the Netflix of the future, for example, won't ever have a chance?
Steve Huffman: Will have a very difficult time, yes.
Emily Chang: So what are Reddit users saying about it?
Steve Huffman: They are saying, and this is a rare opportunity for Reddit users to actually agree on something pretty much across the board, Reddit users are very upset. They're very upset the same way that most Americans are upset.
I think what you see on Reddit, as usual, is a reflection of what's going on in the real world. And 83% of Americans polled are in favor of the net neutrality regulations. And you see this play out on Reddit as well.