I'm hoping he regretted funding 9GAG. It's one of the most unethical companies I've ever come across. This post on /r/4chan details some of their misdeeds:
http://www.reddit.com/r/4chan/comments/zacju/9gag_repost_mac...
http://www.reddit.com/r/4chan/comments/zacju/9gag_repost_mac...
Lots of redditors will repost a picture and claim it as their own, but this is both frowned upon and the doing of users, not admins. 9GAG admins themselves are the ones guilty of plagiarism, and that's where they cross the line.
On the contrary, Reddit (and particularly smaller subreddits) contain some of the most active and intelligent conversation available to vast general audiences on the web. AMAs alone spark a lot of interesting dialogue. Nick Eftiamiades' yesterday was really enlightening (http://www.reddit.com/r/IAmA/comments/zchnb/ive_appeared_on_...). The hivemind can be embarrassing, but there's still a lot to glean from such a userbase.