Etsy has ousted its CEO and is laying off 8 percent of its staff

Re:Etsy has ousted its CEO and is laying off 8 percent of it... by pembrook on Wednesday May 03, 2017 @12:50AM (#14253124)

I agree, re-selling mass produced Chinese crap goes directly against the entire concept of Etsy and everything they supposedly stand for.

However they've sold a classic Silicon Valley "high growth" story to investors that they're now beholden to as a publicly traded company. That growth story can't be delivered on grandma's handicrafts.

Hence the site being slowly transformed into yet another generic online marketplace for drop-shipped junk.

It's ultimately a giant recipe for failure. The company DNA and core brand are at odds with the investor expectations around tech companies.

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Re:Etsy has ousted its CEO and is laying off 8 percent of it... by lmm on Wednesday May 03, 2017 @04:44AM (#14254010)

> they've sold a classic Silicon Valley "high growth" story to investors that they're now beholden to as a publicly traded company.

Less so than most - they're a B corp (is that the term?) with higher priorities than shareholder value.

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Re:Etsy has ousted its CEO and is laying off 8 percent of it... by anigbrowl on Wednesday May 03, 2017 @04:03PM (#14259497)

Interesting detail, thanks for that.

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