Steve Huffman defends his popular social media platform and goes on claiming that Reddit has one of the best advices for investors out there

The CEO of the social media discussion and web rating platform Reddit claims that the investment advices given on the site are among the best out there.

The House Committee on Financial Services looks over all the things going for the nation’s housing and financial services that include banking, insurance, securities, real estate and public and assisted housing. The CEO of Reddit, Steve Huffman said on a reply to a question during this committee. He was asked this question from Josh Gottheimer who is a reporter from New Jersey. He asked Steve Huffman on how Reddit plays the role in these financial advices and discussion to which he replied that people in the United States of America discuss mostly on Reddit about these stocks more than they discuss about it openly in TV and in magazines.

Huffman says that Reddit has the best advices and tips on investments because those advices have been implemented on by thousands of people in the world before and have nothing gotten in result but just success. This was supported by one of the investment traders Keith Gill also known as Roaring Kitty who has given advices on investments on Reddit himself and about his profit gaining investments on GameStop.

Steve Huffman completely defended his platform because of the ongoing news and fire the company is in these days by some lawmakers who say that this social media platform is running an unfair system that gives opportunities to large corporations’ investors and puts them on constant lime light over retail investors, Steve Huffman said that Reddit has polls for either down voting or up voting a post that allows people to either agree or disagree with that type of content; through this way any false information that might have gotten put up on the site is ignored and they don’t even get that much audience coverage. He then even compared those top up voted posts to be much better than the ones on television and magazines, he went on saying that these types of things on the television actually play a huge role into making people do bad investment.

Huffman also said that Reddit has worked extremely hard onto setting up with this voting system on its site and it quite excellent for it to be named unfair.

Photo: Zach Gibson/Getty Images

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