Twitter got popped left and right by journos and this was despite the platform being a huge source of revenue for the media, and the owner's politics.
The week they go public, the stories will start getting published about the content on there, the weak moderation (community moderation...lol), journos sending emails to companies asking whether they like their ads appearing along X or Y figure, etc.
The line that Huffman has taken before on this stuff (basically live and let live) works if you are private. It will go down extremely badly after the IPO.
Sorry. Reddit is already dead.
(Btw, I have no idea why this is...it makes no logical sense because being a public company changes nothing. But the media seems to understand that they can print something, that thing can potentially move the stock, and then they can bounce management into doing something).