Etsy: Hipster Bambi vs. VC Villains
Corporate Gossip
Becca Platsky
4.9 • 655 Ratings
🗓️ 21 March 2025
⏱️ 81 minutes
🧾️ Download transcript
Summary
In 2007, the mecca of hipster paradise was the Etsy headquarters in Brooklyn. Etsy epitomized elder-millennial quirk with a sprinkle of digital delusion, and no one personified the vibes quite like their CEO and founder, Rob Kalin.
But while Kalin and his friends were building a crafters utopia, a ruthless venture capitalist had another plan for the company: destroy it from the inside out and get SUPER rich doing it.
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Links:
Etsy Wants to Crochet Its Cake, and Eat It Too
Etsy Was a Twee Culture Punchline. Now It's a Wall Street Darling.
Etsy CEO says company is escaping 'race to the bottom' and getting back to its artisan roots
Transcript
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| 0:00.0 | In 2007, the Mecca of Hipster Paradise was the Etsy headquarters in Brooklyn. |
| 0:18.9 | Outside the warehouse, a collection of fixed speed bikes were locked to the bike racks as 20-somethings in fedoras and belted dresses poured into the front doors. |
| 0:28.6 | Etsy epitomized elder millennial quirk with a sprinkle of digital delusion, and no one personified the vibes quite like their CEO and founder, Rob Callan. |
| 0:40.1 | Callan built Etsy to recreate the artist's colony that he grew up in. He put his cooperative |
| 0:45.9 | artisanal marketplace on the internet so everyone could have an opportunity to make money |
| 0:51.2 | from their handicrafts. Etsy was a LaDOT's utopia, |
| 0:56.0 | Tweed girls and Fohemians and Shutter Shades, |
| 0:59.0 | casually trying to elevate the world's consciousness |
| 1:03.0 | by creating their version of the online Athenian Agora. |
| 1:07.0 | Hey, pass the matcha. |
| 1:10.0 | But what these Williamsburg idealists don't know at the time, and Agora. Hey, pass the macha. |
| 1:16.7 | But what these Williamsburg idealists don't know at the time was that across the river in an underground lair, venture capitalist Fred Wilson was watching their every move. |
| 1:25.7 | Oh, they're so perfect, so unspoiled and naive. Everyone loves Etsy. It's eccentric, |
| 1:36.4 | humanitarian, and trendy. Etsy is just the vessel I need, and they'll never see it coming. |
| 1:45.0 | Ryder? |
| 1:47.0 | Bring me my Blackberry. |
| 1:49.0 | And get me a macha? |
| 1:56.0 | Hey Rob, sorry. |
| 1:59.0 | Hey Rob, this is Fred Wilson over at Union Square Capital. |
| 2:04.3 | Hey, listen, I know there's a lot of other firms offering to invest in Etsy right now, |
| 2:09.4 | but they're offering what? |
| 2:10.8 | $5 million for 20%. |
... |
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