 Powell speaks to a House committee this morning, part of his regular Capitol Hill two-day, twice-a-year testimony. E-commerce site Etsy has lost 80% of its value over the past three years. It's now working on a turnaround. The platform tried to offer original crafts and goods made by real people, but was soon flooded with mass-produced merchandise, often made in China, as resellers across the U.S. gamed the website to crowd out the hand-crafted items.