Residents, businesses prepare for Outside Lands Music Festival in SF

Residents, businesses prepare for Outside Lands Music Festival in SF

Organizers of The Outside Lands Music and Arts Festival are getting ready for the biggest concert weekend of the year. This is the 10th year of the festival and not every business embraces it. Festival organizers remind people that the celebration brings more than $60 million to San Francisco’s economy. (ABC 7 News)

San Carlos car sales startup bought by Arizona rival

Online used car retailer Carvana Co. has acquired Bay Area automotive startup Carlypso Inc. Terms of the transaction were not disclosed. San Carlos-based Carlypso offers a similar online platform for buying and selling used cars by giving consumers direct access to wholesale inventory.(San Jose Biz Journal)

Y Combinator chief not keen on high-speed rail

Y Combinator chief Sam Altman suggested in his latest foray into California politics that the state should pull the plug on its plans to spend more than $60 billion on a high-speed rail line. (San Jose Biz Journal)

Tesla wants to test self-driving electric semi-trucks

Tesla Inc.’s ambitions to start testing a fleet of self-driving electric semi-trucks is moving forward with the company having discussed obtaining testing licenses in two states, according to a report published Wednesday.(SiliconANGLE)

How Facebook squashes competition from startups

Tech startups live by the rule that speed is paramount. Houseparty, creator of a hot video app, has an extra reason for urgency. Facebook Inc., a dominant force in Silicon Valley, is stalking the company, part of the social network’s aggressive mimicking of smaller rivals. Facebook is being aided by an internal “early bird” warning system that identifies potential threats, according to people familiar with the technology. (Wall Street Journal)

In tough retail landscape, Payless survives

Payless ShoeSource is set to emerge from bankruptcy as soon as Wednesday, one of the largest retail chains to do so, and is banking on a strategy focused primarily on bricks-and-mortar sales at a time when e-commerce is casting an ever-growing footprint on retail sales. Payless’ emergence essentially gives the company a do-over after disposing of half of $847 million of debt it had built up under its private-equity ownership. (Reuters)

Can Bud Light be the antidote to the craft beer craze?

Bud Light, which has struggled amid the craft beer revolution, says simple beer is good, too. In new ads the nation’s largest brew touts its “four essential ingredients” – water, rice, barley and hops – while poking fun at complex brews with depictions of concoctions like a beer garnished with lobster. The two spots mark a new marketing phase with Bud Light promoting itself as “America’s favorite light lager.” (Ad Age)

Delivery start-up Schlep & Fetch runs out of cash

Schlep & Fetch, which delivered food from Yelp Eat24 orders and documents from movie studios and law offices, ceased operations after running out of money. At its peak last fall, the Los Angeles courier start-up had 140 drivers fulfilling 15,000 orders a month from the Westside to downtown. The company, founded in 2011, had raised nearly $500,000 from wealthy individuals, including those in the investment group Tech Coast Angels.(Los Angeles Times)

Hospitals hope pause of reimbursement cut will be permanent

Long-term care hospitals around the country are hopeful the Trump administration will permanently abolish a proposed policy that would dramatically reduce their Medicare reimbursement. The administration said Aug. 2 that it will freeze the so-called 25% rule that dings Medicare reimbursement rates for hospitals for one year while it assesses whether the policy is needed. (Modern Healthcare)

Facebook reveals its YouTube competitor and TV clone

The video hub is called “Watch,” and will appear as a tab in the mobile app and also be featured on the desktop web. Facebook has dubbed its episodic video creations – wait for it – “shows.” They are being created by partners like A&E Networks, Hearst, National Basketball Association, Business Insider, Mashable, National Geographic, Brit & Co. and other outlets. Shows will be episodic and have ad breaks. (Ad Age)

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MORE NEWS

Study: Small businesses in Detroit lack access to loans (Crain’s Detroit)
Millennials are driving a $9T change in investing (Business Insider)
Mylan stock bounces back from early losses (CNBC)
Birchbox has held acquisition talks with Walmart (Recode)
Hate basic economy fares? More are coming (Wall Street Journal)

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