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Toast recently laid off half their workforce...obviously restaurants doing poorly in the covid-economy. [1] https://techcrunch.com/2020/04/07/restaurant-manage

• Melting_Harps 6y ago
  > Toast recently laid off half their workforce...obviously restaurants doing poorly in the covid-economy. Ouch. It says they're affiliated with Grubhub, so hopefully that's their support line in all of this. This is interesting and suggests they're more a fee generation business model than a traditional fintech POS supplier and management/tech support one: > As a result, fintech companies that help restaurants work better and depend on foot traffic are seeing less transaction volume.
  • gbear605 6y ago
    Their model is primarily taking a share of credit card transaction fees plus a monthly fee for physical devices. While they’re doing poorly right now without restaurants open, they have a large war chest (raised their series F in February).