Which is why /u/jailbaitlover I mean /u/spez is sending the message that they would gladly give total power to whatever mod crosses the picket line so they can boot the rest.
If Reddit had to replace all these mods it would be complete chaos and is not much better than the blackout. They will see the same exact problems Twitter has seen since they fired most of their content moderators.
I doubt that it is just the CEO. With an IPO coming up, all the stakeholders and the board and the senior leadership are poised to make a shit ton of money. This whole thing is designed to make the company more attractive to investors so they are all on board.
Pretty sure spez is making a ton of money at this point. He’s been working on Reddit for like 15 years and ,while I’m sure he’s managed to earn a nice paycheck for some of those years, he’s finally in reach of a big payout
I expect he will (because I’d do the same) sell his shares ASAP and disappear from public life
Executive compensation is often largely in company stock. There’s your incentive to stick around and fuck everyone in their peeholes for increased shareholder value your own personal benefit.
Insiders typically don’t lose money even if a company tanks after ipo. The ipo is a set price and it’s pretty common for insiders/other shareholders to dump their bags at that price while people biying at the ipo get fucked.