As Bloomberg reports, the new tech incubator was named after a shop in Arkansas where Sam Walton used to experiment with store layouts will be based in (where else) Silicon Valley. While Lore didn't reveal how much Walmart would be investing in the project, Walmart SVP of Digital Store operations Seth Beal and VP of Incubation Katie Finnegan (who also came from Jet.com) have taken new roles as Store No. 8's two Principals. The incubator and the companies under its umbrella will be operate independently of Walmart corporate and its research company @WalmartLabs in San Francisco, but the end goal here is to create new tech that will help Walmart's bottom line -- whether that be through new online boutiques like ModCloth or new ways to skip the checkout lines in the store. Plus, when your competition is riding robots and planning a delivery service for the moon, the only smart move is to respond by opening a tech incubator.