Etsy

“In the very beginning, a lot of the customers of Etsy were actually also the sellers. So they were buying from each other and they were kind of, it was this positive feedback loop.”

“Not only is it that, but it's a movement. It's this sort of rebellion against big box retail and people want their soap to come from a grandmother in Peoria.”

“One of the things that was missed was that it was a principally female marketplace, right? And at the time it was 2005, 2006. There were a few examples of that, but Etsy was also a market that appealed to a certain kind of semi-countercultural group.”

“And so part of the mistake was, you know, when she presented to me, it was before it was venture invested, right? I could have put in money essentially as an angel. And, you know, I don't know what Etsy's valuation is today, two billion dollars, something like…”