I think that building any product that has a lot of user loyalty is a bit like making a sequel to a great movie or video game - people generally want 'more of the same thing, except better and different.'
Everything ultimately becomes the CEO's problem, no matter where it starts. I can see why some CEOs crack under the pressure.
All of us at reddit work here because we think that reddit is a community like none other. We think it can be a powerful force to change the world for the better.
We stand for free speech. This means we are not going to ban distasteful subreddits. We will not ban legal content even if we find it odious or if we personally condemn it.
With Facebook, you're not really allowed to be unhappy. Think about it: There's only a like button. Yes, you can be angry, but it's only lighthearted rage. On Reddit, perhaps because you can be anonymous, people are willing to be openly sad or angry. They are more honest.