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Silicon Valley-based Plug and Play is coming to downtown L.A.

The organization, known for its accelerator programs and status as a VC firm, held an event announcing the news on Tuesday at 1010 Wilshire Blvd, where its newest cohort will be based.

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PayPal Inc. has gobbled up another Southern California startup.

After acquiring Honey, a modern twist on coupons, in 2019, PayPal announced Thursday it has purchased Santa Monica-based Happy Returns. Terms of the deal were not disclosed.

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Two months ago, Ken Lian, co-founder and CEO of Cheese, applied for a checking account at a major bank. He was rejected again, despite his sterling 800+ credit score.

Since immigrating from China to the U.S. in 2008 he has been routinely denied from opening bank accounts, had to pay thousands of dollars in fees and been limited to the least desirable no-rewards credit cards.

"This is a common issue," he said.

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