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Spez is now being outwardly hostile toward the community. His plan isn't working and he is afraid. From a strategy perspective, he should negotiate and for moderators, they should continue until he negotiates.
This doubling down by the moderators will work. The doubling down from Spez will only damage Reddit further.
When they IPO (assuming it is more than 50% equity) we could probably buy enough shares to force him and the board to resign.