Main points:
He plans to make moderators popularly elected to more easily vote them out.
Hopes the next frontier will be subreddits as businesses.
He does not want Reddit employees to take on the work. Moderator hours were valued at 3.2 million last year, 3% of reddit’s revenue.
Oh you want to have popular elections for mods? Do it, see what happens. Poll crashing is a fucking sport.
Oh yeah, and:
CEO of a company doesn't even understand business ownership. Business owners cannot be fired. They can be bought out. Shareholders are owners. C-level employees are almost universally also owners. Nobody can just "take away" ownership; it has to be bought, and an owner of property is the person who gets to decide whether to sell it or not. What an idiot.