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‘Reddit can survive without search’: company reportedly threatens to block Google
(www.theverge.com)
this post was submitted on 20 Oct 2023
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He was probably offered a ticket to a higher financial level. Whether he's stupid or just corrupt will depend on whether that offer is followed through on.
My guess is he was told if he did x, y, and z to Reddit, the IPO would allow him to sell his shares at some number that he really liked.
But I don't think he can just undo the damage he did if they change their mind about buying it at that price when the IPO comes. I don't know if he'd even be able to talk about that without implicating himself in crimes, so it might happen.
That's assuming he's corrupted by the carrot and not the stick.