Wal-Mart's start-up incubator Store No 8 wants to find the next big technology that will disrupt the retail industry not in the next few years, but in the next few *decades*.
Co-founder Katie Finnegan joined Cheddar to discuss the business's mission.
"What we're trying to do is incubate new ideas that are generally being driven by emerging technologies," she said. "Things that are may be too nascent for the 160 million or so Americans we, Wal-mart, serve every week, but that we believe, when it becomes a viable operational reality, will have a material step-change impact."
Among those technologies: virtual reality. Store No 8 recently held an "Innovate" event in Los Angeles highlighting those advancements. Finnegan says VR will "really change the game in terms of merchandising".
While the subsidiary aims to create businesses that will eventually be acquired by the retail giant, it also knows there could be third party options.
"We have discussed that some of these things might have revenue streams outside of [Wal-Mart] and we would definitely be open to that."
Finnegan calls Store No 8 a "unicorn opportunity" for entrepreneurs. The company recently acquired Bart Stein and the team over at Wim Yogurt. It's planning at least two more acquisitions by the end of the year.
To watch the full interview, [click here](https://cheddar.com/videos/wal-mart-and-the-future-of-retail).
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
Emily Hosie, CEO of Rebelstork, explains the concept of Returns Recommerce, plus how her company raised $18M to address the industry-wide issue of returns.
