A few days ago, Square announced a partnership with Starbucks.
As a longtime fan of Square, my first thought was “hooray for them!” But then I remembered that they lose money on every transaction. This deal is only going to accelerate the process.
I want Square to achieve its goals, but I keep getting that Underpants Gnomes vibe: relentlessly pursue your goals, then figure out that whole “income” thing. Of course, Silicon Valley startups have known for years that Step 2 is “get acquired.” It worked for Instagram to the tune of a billion dollars.
I just hope Square figures out its plan in time. Also, that it isn’t a terrible plan.