Reddit CEO Steve Huffman tells NBC News that he plans to institute rules changes that would allow Reddit users to vote out moderators who have overseen the protest. https://www.nbcnews.com/tech/tech-news/reddit-protest-blackout-ceo-steve-huffman-moderators-rcna89544
Reddit CEO slams protesters, says he'll change moderator rules

Steve Huffman, the Reddit CEO, said in an interview that a user protest on the site this week does not have wide support and is led by a minority of moderators.

NBC News
@nbcnews I'm sure that'll go over great. Who exactly is going to take over the free labor the moderators have provided once you vote them out?

@Cutterpillow @nbcnews bots, but it obviously won't work as well. If #reddit is not going to pay their workers then they can't really make any demands of them, and they're certainly not going to pay them.

I agree totally with you, this will not go great. Either the mods will stop working for free and Reddit will become flooded with spam or they'll be replaced with bots who will upset the users that submit content, resulting in less content and a different group of p'd off users.

If they upset the mods and the people that submit content, all that will be left is people genuinely addicted to the service and lurkers who will just leave.

Perhaps free labor isn't a sustainable business model. If your whole company hinges on people working for you for nothing, that will surely fall apart eventually.

@nbcnews That guy really has a way of winning over the hearts of his users. 🤦‍♂️
@nbcnews This isn't going to end well for Reddit.
@nbcnews “volunteer Reddit moderators spent at least 466 hours every day on the work. If they were paid at $20 an hour, the expense would equal $3.4 million, or 3% of Reddit’s revenue from 2019”
@Lyle @nbcnews That is such an incredible low ball it's laughable
@halfcocked @Lyle @nbcnews very lowball indeed. Many subreddits are moderated by leaders in their fields, and command very high market rates in their full time jobs for the skills.
@nbcnews somebody should ask him about his time moderating the execrable r/jailbait sub back in the day.
@nbcnews guess my 12 years creating content and 7 years as a mod is going to be deleted tomorrow...
@nbcnews I see they've moved on from "we are getting the moderator tools out ASAP" to "fuck the mods"
@nbcnews what an absolute nutcase. Reddit is gone.
@nbcnews No mention of why the mods and users are protesting??
@nbcnews spez embarrasses himself
@nbcnews Steve provided his insights during his mani-pedi performed by 7 nude crying Greek virgins who were later driven in a 1977 school bus to Sacramento because their work papers were set on fire and were in the US, now, technically illegally.
@nbcnews @andrew He is breaking the cardinal rule. Trust your community. He doesn’t and now he has to go or Reddit is dead.
@nbcnews There's definitely going to be no way to misuse this feature once it releases, definitely not
@nbcnews Lol, “user protest… doesn’t have wide support”. Every single sub I’m an active reader, poster, or commenter in has gone dark with the full support of their users.

@mez
Democratic lol. Maybe users should get to vote in the reddit board 🙄

He has zero qualms in removing mods to strike-break. As if mods aren’t the ones who built their communities. All at zero cost to him.

So much democracy.

@nbcnews The stupid is strong in this one....
@nbcnews 🥥 #Reddit CEO #SteveHuffman's photo deserves to be next to the definition of #TechBro on #Wikipedia. 🥥
@nbcnews @donmelton Steve, just resign, you set your company on fire.
@nbcnews This is letting the animals run the zoo. Well Reddit, it was nice knowing you.

From what I've seen, the accompanying API access for money rule a) isn't enforced strictly yet and b) this gave 3rd party app developers the chance to crowdfund - in some cases very successfully.

So while the CEO entblödes himself there are some good effects, but totally not as intended by him.