It’s the first major social media IPO since 2017. CNN’s Clare Duffy breaks down what is at stake, and New York magazine’s John Herrman explains why Reddit may not survive it. This episode was produced by Amanda Lewellyn, edited by Amina Al-Sadi, fact-checked by Laura Bullard, engineered by David Herman, and guest-hosted by David Pierce. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices