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Centralized opaque moderation ruins every large subreddit. It's too bad because reddit could be 10x more interesting if it were more open. Network effects can only take you so far -- without real user-centric leadership, reddit will go the way of tumblr/digg in the next five years.

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I find the opposite to be true, with the large subreddits not moderated enough. Compare HN to reddit and you'll see there's a massive difference.

The incentives of the site are not aligned with high quality moderation at the moment so mods spend minimal effort and find shady ways to monetize such as partnering with marketing agencies. I'm pretty sure HN mods get paid for what they do which is why they are good.

Without a doubt the worst subreddits are the unmoderated ones.

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