Home > Uncategorized > Minting money with a mission based business | Partial Objects

Minting money with a mission based business | Partial Objects

“At Etsy, our mission is to enable people to make a living making things.”

When I read that, I… asked [an investor in Etsy] what percentage of Etsy users actually made a living at it. Fred fired back,

“Maybe 10pcnt do. But its an aspirational mission. A big hairy audacious goal”…

It takes a long time to knit a pair of gloves, and it’s tough to sell your own wares at a large premium if you don’t have some sort of brand or cachet. The way to make any money off of this situation is as a capitalist, skimming a little vig off of every transaction — like Etsy (or eBay) does — not as a craftswoman/laborer…

Etsy had 7 million registered users as of the end of last year, and according to Etsy, as of today, it has 150 full time users. So, 150 users making a living at Etsy full time / 7,000,000 users x 100% = 0.002% making a living on Etsy…

It seems odd to be holding up Etsy as a warm & fuzzy, mission-based business when its financial rewards are so heavily skewed to so few. Putting knitted covers on the ventilation pipes doesn’t change that…

[From the comments:]

Etsy doesn’t sell crafts. Etsy sells users the dream of being an artist or artisan.

via Minting money with a mission based business | Partial Objects.

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