> Tiny daily sales numbers which all employees received was the first such warning sign. Internally, Fast was transparent on sales. Every day, every employee would receive a sales summary email that listed the number of sales completed with Fast checkout, and the total sales amount.
> Fast did less than $300K worth of sales and below $6K in revenue on most days from January 2022 to April 2022. There were days with around $2,000 in revenue for Fast.
I'm actually surprised that everyone was receiving daily updates of company revenue.
If you're surrounded by 100s of people at a company known to give high base pay but you're seeing daily revenue numbers in the range of $1K to $6K (they had $600K total revenue in 2021, supposedly) then you have to know that your time is very limited.
I assume they were led to believe that more investment money was just around the corner to keep the business going? With a $10 million monthly burn rate they would have needed a staggering amount of capital to just continue to exist, let alone execute any plans to turn the ship around.
> Fast did less than $300K worth of sales and below $6K in revenue on most days from January 2022 to April 2022. There were days with around $2,000 in revenue for Fast.
I'm actually surprised that everyone was receiving daily updates of company revenue.
If you're surrounded by 100s of people at a company known to give high base pay but you're seeing daily revenue numbers in the range of $1K to $6K (they had $600K total revenue in 2021, supposedly) then you have to know that your time is very limited.
I assume they were led to believe that more investment money was just around the corner to keep the business going? With a $10 million monthly burn rate they would have needed a staggering amount of capital to just continue to exist, let alone execute any plans to turn the ship around.