> "We are fully prepared to take any actions we believe are necessary to protect the best interests of all Etsy shareholders."
What exactly are they insinuating?
Etsy has ousted its CEO and is laying off 8 percent of its staff
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Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#12I spend a lot of time with Etsy sellers, all one-person micro-businesses creating fully-handcraft items.
They tell me there are three major problems that are all interconnected: 1) search is poor, 2) cheap knockoffs swamp the search results, 3) there's no obvious way to emphasize truly handcraft items.
All the sellers are experimenting with alternate platforms, such as Shopify, Wordpress, Wix, etc.
Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#13The conversion problem on mobile does seem like an issue, but speaking as a former customer of Etsy what drove me away was the selection. Not that it's too small - rather, Etsy is now flooded with thousands of storefronts selling "artisan" pieces that are actually bought on AliExpress or similar and marked up. If they're trying to apply ML to managing customer recommendations, they should figure out how to identify w…
This hit the nail on the head for me. Etsy was all the parts I loved about Ebay mashed with the parts of an art fair I loved. It's been on a slow slide to another Ebay in my eyes.
Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#14The conversion problem on mobile does seem like an issue, but speaking as a former customer of Etsy what drove me away was the selection. Not that it's too small - rather, Etsy is now flooded with thousands of storefronts selling "artisan" pieces that are actually bought on AliExpress or similar and marked up. If they're trying to apply ML to managing customer recommendations, they should figure out how to identify w…
It sounds like this problem of fake self-made art could be prevented if etsy introduced a clause that prohibits sellers to sell items they haven't made themselves and fine any seller in violation. The fine could be a multiple of the last n months of revenue on etsy.
How would they ever enforce this?
I mean, maybe you can figure it out for the AliExpress case—but what about when it becomes one local "artisan" supplier supplying slightly-customized variants to each of its thousand Etsy-shop customers?
Or, beyond that, what about the case where something is 99% a pre-fab vendor good "base", and then 1% (or less) original work? Would an Etsy seller's signature on a store-bought mug make it "their" work?
Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#15Wow, this has been a bad day for tech stocks.
Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#16It's bizarre to see how Etsy went from producing a significant amount of technical software and community engagement a few years ago and then suddenly stopped. Their GitHub is a testament to this sudden dropoff. Was there anything ever mentioned about why they went from super public about things like dashboarding to nothing?
Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#17Etsy should just die. They've been in a perpetual state of "not quite making it" for more than 10 years.
Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#18No monthly who's firing thread for may?
There was one today, but it seems to have disappeared.
Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#19What's the deal with the "Activist investor" that is forcing these changes? Is this a common thing in the investment world? Does anyone have deeper insight into this?
Re: Etsy has ousted its CEO and is laying off 8 percent of its staff
#20Welcome to the bursting of the second tech bubble. It's been slow so far, but it'll accelerate soon. Hang on!
Why is it that on these threads, nobody seriously considers the possibility of a secular decline? Fundraising, after all, has slowed, real estate in south bay has softened, and interest rates are rising (making tech relatively less attractive). Not to mention the scandals that have erased billions; see Theranos. Look at Yik Yak collapsing. A few isolated incidents is to be expected, but there seems to be an emerging pattern.
There's a real possibility that articles like this reflect a real bubble bursting.