Wisdom From The Top with Guy Raz
Define Success and Define Constraints: Etsy's Josh Silverman
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.
43:23
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Quick takeaways
- Josh Silverman's focused strategy to streamline Etsy's operations and target gross merchandise sales transformed the company from near collapse to success.
- He balanced financial objectives with Etsy's mission of economic empowerment by promoting diversity and sustainable practices in the marketplace.
Deep dives
Josh Silverman's Leadership Journey
Josh Silverman built a reputation as a turnaround expert in the tech industry, having taken on significant leadership roles at various companies. As the new CEO of Etsy in 2017, he faced a dire situation, with the company's stock at just $10 and financial analysts predicting its imminent demise. Silverman's experience at companies like eBay and Evite provided him with valuable lessons in crisis management and strategic decision-making. Drawing on these past experiences, he approached Etsy with a singular focus on improving gross merchandise sales—the key metric for the company's success.
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