Street Fight Daily: 09.02.11

A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.

While Yelp’s daily deal segment got off to a strong start, things have been getting worse ever since. So, what happened? Over the last 6 months, Yelp has been generating less and less revenue per deal as competition in the space heated up. (Yipit Blog)

The Washington Post has decided to let the leases lapse on all but two of its local bureaus. Beginning next year, the Post has decided to end the leases on four offices in Virginia and three offices in Maryland. (Politico)

In a special multi-article report on the future of group buying, BI looks at Groupon alternatives, the economics behind group buying sites, and a bull case for the industry. (Business Insider)

LivingSocial has published a top 10 list of tips for getting the most from group buying sites. (Daily Deal Media)

What’s going on in the deals industry? Mainly a serious case of bubble thinking, as entrepreneurs and venture capitalists pile onto the latest hot trend and then discover the market isn’t as boundless as they hoped. More specifically, the deals business is suffering from five key challenges. (Forbes)

It’s a tumultuous time in the young daily deals market, but the volatility is just proving to be more opportunity for New York start-up Yipit, a deals aggregator and recommendation service that is growing fast and leveraging its wide knowledge of the industry. (GigaOm)

Sarah Lacy thinks Groupon’s Andrew Mason has a Silicon Valley problem — essentially, the problem is that he’s not there: “Mason simply hasn’t benefitted from the raft of mentoring, gut-checks, constant scrutiny, in part because Groupon is based in Chicago. “(TechCrunch)

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