What is Etsy’s business model and how does it make money?  Though a few weeks ago we broadly covered this business, today we’re doing a deeper dive to understand some of the financials in order to understand Etsy’s investment thesis.


0:00 - Start

3:15 - What Does Etsy Do?

8:20 - Metcalfe’s Law

13:50 - Fundamentals

17:40 - Return On Equity

22:40 - Return On Invested Capital

29:43 - Risks

31:03 - Final Thoughts On Etsy


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