SPEED' The term FAST PLACE can be broken down into two words, with the first word being 'SPEED', a four letter word. SPEED is defined as the rate at which something moves or operates, and is often used to describe how quickly something is done. It is also used to refer to the rate at which something travels, such as the SPEED of light or the SPEED of sound. The second word in the term FAST PLACE is 'PLACE', which refers to a particular point, area, or location. PLACE can also refer to a particular position or rank in a hierarchy or organization. Together, the term FAST PLACE can be interpreted to mean a PLACE that is characterized by SPEED, or a PLACE that is done quickly.