They don't. But the dot-com frenzy where people threw money at anything tech-related is long over, and investment firms aren't going to give lots of money to a barely-profitable business with a long history of bad decisions. Oh, they'll buy some stock but it's not going to be the massive frenzy Huffman desperately wants. He's going to take whatever he gets and work on his doomsday bunker, and reddit will continue to contribute to the enshittification of both the internet, and society in general.