Hi, everyone, and welcome to Etsy's Fourth Quarter and Full-Year 2022 Earnings Conference Call. I'm Deb Wasser, VP of Investor Relations. Joining me today are Josh Silverman, CEO; Rachel Glaser, CFO; ...

Etsy’s lack of physical infrastructure could position it for better outcomes during a bear market than its competitors. Etsy’s funnel onboards new customers during pivotal life milestones, and they ...