Why LA tech is moving inland (hint: sea breezes = $$$)
Snapchat, Google, Amazon and Apple have all announced plans to open offices outside of Silicon Beach in 2018. Where are they going? Inland. Why? Unsurprisingly, land inside of the sprawling metropolis’ core represents a rent break. But there’s more to the story of LA’s interior appeal — public transit options and proximity to the entertainment industry are key factors, to name a few. We used data from CBRE’s Tech-30 to understand what’s happening. [Built In LA]
Initial song offerings are now a thing
You can thank Blockchain-based music rights marketplace Vezt for putting the idea on your radar. Here’s how an ISO works: First, an artist puts the rights to their songs on the Vezt marketplace. Using the app, users are able to acquire the rights to those songs. Vezt then tracks royalties using blockchain technology and disburses payments to rights holders. Last month, producer Chuck Inglish pioneered the process by putting two songs onto the marketplace. Less than 30 days later, he walked away with a sold-out ISO and $8,272 in the bank. Not bad. [Built In LA]
What’s that rumble underfoot? It’s just Elon Musk digging a tunnel
In 2017, Elon Musk sent out a stream of tweets bemoaning the state of traffic in LA. Around a year later, he is getting to the bottom of the problem — literally. On Monday Musk’s Boring Company announced that what started as a small test beneath SpaceX’s Hawthorne headquarters is now a two-mile underground tunnel. Waiting inside that tunnel is a high-speed subway capable of transporting 10 to 15 passengers at a time. The system, which runs on electric skates, is set to move at a speed of 155 miles per hour. That’s a swift 130 miles per hour faster than the LA metro. Test rides begin December 11 for die-hard Musk followers — or people who need to get exactly two miles away, really fast. [Gizmodo]
This preccelerator program is upping the ante for its new class
Business law firm Stubbs Alderton & Markiles announced this week that the next class of early-stage startups in its preccelerator program will be cashing in. Starting in January 2019, participants will receive an unrestricted $25,000 investment from the Santa Monica-based law firm, on top of a $25,000 perks package that includes legal services from SA&M. The new class starts January 7 — and the application window has been extended. Founders have through December 4 to submit their companies for review. [Press release]
FabFitFun reaches 1M customers
Though you might be familiar with the company from their online videos — between Facebook Live and FabFitFun TV they have hundreds — the core of FabFitFun’s business is a subscription lifestyle box service. As of November 1, more than 1 million customers have subscribed. That milestone says a lot about the company, and about self-love generally, according to co-founder and co-CEO Daniel Broukhim. “I think the notion of getting a surprise package with all this value — and really, a present for yourself — really excites people,” he said. [Built In LA]
Facebook jumps on the pop-up trend this holiday season
This year, rather than settling for bringing holiday spirit from the real world to your screen, Facebook is bringing your screen into the real world. More specifically, they’re partnering with a handful of small online brands to set up pop-up shops inside Macy’s stores around the country, including one in LA. The social media titan is angling to bring digital-native brands known from Facebook and Instagram into brick-and-mortar storefronts. [Facebook announcement]
