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1/9 Thread: $AMZN vs $SHOP vs $ETSY
I have listened to my fair share of podcasts related to $ETSY, but I thought @HarryStebbings interview of Josh Silverman, CEO of Etsy, was an exceptional one.
It not only helped me understand Josh better, but also gave a lot to ponder.
I have listened to my fair share of podcasts related to $ETSY, but I thought @HarryStebbings interview of Josh Silverman, CEO of Etsy, was an exceptional one.
It not only helped me understand Josh better, but also gave a lot to ponder.
2/9 Josh categorically denies that Etsy is a niche e-commerce player focusing on handmade stuff.
He thinks Etsy is competing on the "special" segment which is anything but niche.
He thinks Etsy is competing on the "special" segment which is anything but niche.
3/9 At the very end of the episode, he said something interesting. Let me quote him:
“I think there is an implicit notion in the market that there is going to be millions of individual places to buy things online. If you are following the market cap of Shopify, Wix, Stripe etc..
“I think there is an implicit notion in the market that there is going to be millions of individual places to buy things online. If you are following the market cap of Shopify, Wix, Stripe etc..
4/9...the thesis must be there will be millions of individual shops on the internet that are all trying to sell you stuff. I find the thesis exceptionally unlikely. The brain can only remember a couple of brands. I think the world is consolidating around fewer and fewer places...
5/9 ...to buy things online.”
"I think Amazon will continue to be the default for everyone in the western world. And the more the world has a default, the more it yearns for an antidote to that default. I think Etsy is incredibly well-positioned to be the antidote of Amazon"
"I think Amazon will continue to be the default for everyone in the western world. And the more the world has a default, the more it yearns for an antidote to that default. I think Etsy is incredibly well-positioned to be the antidote of Amazon"
6/9 I absolutely agree that there will be a sizable market for whoever that becomes the "default" antidote of Amazon.
But I cannot say I am quite certain about it being Etsy at the expense of Shopify.
$SHOP is 6x $ETSY's mcap, so market clearly sides with SHOP.
But I cannot say I am quite certain about it being Etsy at the expense of Shopify.
$SHOP is 6x $ETSY's mcap, so market clearly sides with SHOP.
7/9 I think it will be fascinating to see how these battles unravel in the next 10 years. I know Toby is widely revered, but I believe Josh can be a worthy competitor too.
Etsy and Shopify could be THE battle to watch in this decade.
Etsy and Shopify could be THE battle to watch in this decade.
8/9 Finally, I want to thank @CaffeinatedInv1 for recommending me this podcast as he rightly thought I would find it interesting.
Fintwit is truly an incredible community.
Fintwit is truly an incredible community.
9/9 Again, highly recommended episode if you are interested in Etsy or e-commerce in general:
Episode link: https://thetwentyminutevc.com/joshsilverman/
Episode link: https://thetwentyminutevc.com/joshsilverman/
