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Good question, I would ban all hate speech and stalking/harassment. Reddit's infamous "witch hunts" would be stopped. I would change the position and functions of admins to be more in line with traditional forum admins and they would be different from reddit's employees. The hands off policy would altered to a degree, the admins would be more available to help moderators when they are overwhelmed with an issue while still allowing the mods to run their community as they see fit.