The quaint economy just went public - and Goldman Sachs is leading the way
Etsy/SEC
Etsy is the quaint economy (TQE) in action.
What is TQE? Let me remind you:
The quaint economy is a derivative of a derivative of The Way We Live Now. It's about the way that upscale brands perceive the aspirations of their target audience, filter it through their corporate marketing department, and reflect it back at us, revealing a nostalgia for a stylized past that never actually existed.
Many people think of as a place to buy and sell cute, artisanal clothing, crafts, and artwork. But sometime in 2012, it started accepting products by businesses with more than one employee. The decision was controversial, and some on the site claim that the mass-produced shops are killing small shops.
But it's been successful for the company.
On Twitter, Bloomberg's Matt Levine pointed out this gem of a TQE slide from the filing:
We hope they toast their forthcoming IPO with a hearty mug of bone broth.
- I spent 2 weeks in India. A highlight was visiting a small mountain town so beautiful it didn't seem real.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- 8 Lesser-known places to visit near Nainital
- World Liver Day 2024: 10 Foods that are necessary for a healthy liver
- Essential tips for effortlessly renewing your bike insurance policy in 2024
- Indian Railways to break record with 9,111 trips to meet travel demand this summer, nearly 3,000 more than in 2023
- India's exports to China, UAE, Russia, Singapore rose in 2023-24