what I thought about kind of became true: everything he does right now is to make more profits, to work towards the IPO.

What he doesn't realize is that's not how this community works. It's in many ways crowdsourcing content and tools from the community, and the community won't be crowdsourcing just for him to make a profit. And the same goes for mods; they wanna moderate communities they are proud of on a platform that gives them freedom. If they get too much pressure from admins or the CEO and don't like the direction the platform is going in anymore, they WILL leave.

he doesn't realize what he's doing.