Inside Walmart, Marc Lore Runs His Own Start-up Incubator
*By Jacqueline Corba*
The serial entrepreneur Marc Lore has created a start-up refuge for himself and other hustlers inside the sprawling Walmart retail empire that he said can lead the company into the future and successfully challenge the e-commerce rival Amazon.
Lore, the founder of the e-commerce delivery site Jet.com, sold his company to Walmart in 2016 for $3.3 billion. He is now in charge of the company's digital operations, and last year he launched a tech incubator trying to innovate from inside the retail behemoth.
The initiative is called Store 8, a group of Walmart-owned start-ups that operate independently. The goal, Lore said, is for Walmart to leverage discoveries from these start-ups as assets in the long-term.
"Each start-up has a very clear sort of vision, mission, as any start-up would, about what they want to be, how they want to change the world within ten years into the future," said Lore. "I think we'll be really well positioned on that front, as those things start to build and mature."
It's not a small effort, but Lore said his nimble team brings an entrepreneurial sense of urgency to Walmart.
"It definitely feels like a start-up to me," Lore said in an interview with Cheddar's Nora Ali, who used to work for him at Jet.com. "Right now, it's 20,000 people and we're moving and making changes and everything."
At that size, Walmart's digital outfit dwarfs pretty much any start-up out there. But having that corporate muscle to pair with the lessons Lore learned innovating on the outside may be necessary to compete with Amazon.
Walmart owns and operates 4,700 store across the country, which presents another challenge to moving at start-up speed. But Lore has a vision for that too. He said he wants Walmart warehouses of the future to be part store, part fulfillment center. And automated. Fast.
"Things are moving," he said.
For the full interview, [click here](https://cheddar.com/videos/marc-lore-on-bringing-a-start-up-culture-to-walmart).
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Starbucks’ AI barista aims to speed service and improve experience. Nick Lichtenberg, Fortune Business Editor, explains its impact on workers and customers.
As Big Tech reports Q3 earnings, investors await proof that massive AI and cloud investments from Meta, Apple, Microsoft, and Alphabet are driving real growth.
Eric Trump joins us to discuss American Bitcoin’s mission, market strategy, and why he believes the U.S. must lead the next era of digital currency innovation.
Unreal Snacks CEO Kevin McCarthy shares how dye-free candy is leading the sweets revolution—just in time for what could be a record-breaking Halloween 2025.