Etsy
Public Statements Risk
Etsy CEO Josh Silverman is relatively quiet and only posts on LinkedIn and Twitter. His posts avoid political topics. The company has recently been faced with a seller strike over Etsy's payment system, but in general the company does not make any political statements. Their senior executives do lean Democratic, but they do not make it publicly known aside from their donations.

Political Contributions Risk
Etsy contributions are completely Democratic and come solely from the company's senior executives. Their contribution level is minimal, especially when benchmarked to the Consumer Discretionary sector where contributions range widely but tend be relatively high from competitors like Amazon and eBay. Partisanship in this sector tends to be less extreme than Etsy's, but still left-leaning. The company contributes to a number of controversial political actors including Bernie Sanders, Charles Schumer, Hillary Clinton, and Joe Biden. While the dominant partisanship raises Etsy's pH score, its contribution level acts as a counterbalance, mitigating overall risk.

Political Dichotomy Risk
Etsy has a diverse customer base due to the wide range of products that they sell, which are produced and distributed by independent parties. This wide range of goods can supply the needs of customers of any political orientation. But because Etsy relies on independent sellers, they are at risk of sellers moving to competitors or boycotting the platform. An example of this occurred in 2022 when the company hiked transaction fees and was faced with a boycott by more than 17,000 sellers. So, while risk does not stem from executive donations being completely Democratic, their untraditional business model does raise concerns.

Associational Risk
While politically motivated goods are sold on Etsy, the company itself does not associate with risky politicians or people. There is hardly any news covering their political donations and no articles that point to relationships with concerning public figures. Furthermore, their social media shows no alarming associations.

Brand Visibility Risk
The company disconnects itself from the products being sold, so not much actually reflects back on the brand itself. Etsy is pretty exposed, with high brand awareness, and is something of a lifestyle brand due to it's "indie storefront" image.
