Wisdom From The Top with Guy Raz Define Success and Define Constraints: Etsy's Josh Silverman
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Dec 18, 2024 In this engaging discussion, Josh Silverman, a turnaround expert and CEO of Etsy, reveals how he revived the company from the brink of collapse in 2017. He shares invaluable insights on transformative leadership during crises, emphasizing the importance of focusing on key metrics and empowering teams. Josh recounts his strategic decision-making from his past roles at Evite and eBay, highlighting the balance between innovation and sustainability. The conversation also delves into Etsy's core values and the importance of aligning personal beliefs with business goals.
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Evite's Dot-Com Journey
- Josh Silverman, at 29, became Evite's CEO during the dot-com boom and bust.
- He advised selling Evite early on, anticipating a burst, but investors disagreed, leading to a much lower sale price later.
eBay's European Turnaround
- At eBay, Silverman discovered a local competitor outperforming eBay in the Netherlands.
- He convinced Meg Whitman to acquire Marktplatz and other classifieds companies, turning around eBay's European fortunes.
Marktplatz vs. Speurders
- After acquiring Marktplatz, eBay faced a new competitor, Speurders, in the Netherlands.
- Silverman led a focused effort, assigning specific metrics to his team, resulting in Speurders' market exit and Marktplatz's success.