A toaster is not a complex thing. It has a few springs, a tray, a body, some heating elements. Some wires. There is absolutely no need to put the internet in there.
/rant
It was some simple bi-metal wire that would bend when it reached a certain temperature and shut off the power to the heating coil.
I guess the whole aspect of these IoT is that it violates the simplicity of these devices. Kind of like the weapons in Judge Dredd vs a simple modern mechanical handgun.
Right now he's investigating what it is like to be a goat: http://www.thomasthwaites.com/a-holiday-from-being-human-goa...
Don't knock it until you try it I guess?
It goes poorly.
The economist article links to the original paper, which is quite readable too.