Street Fight Daily: 10.03.11

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

Loopt has been allowed its first patent, and it could be a big one. In layman’s terms, the patent describes using your location to display relevant ads and offers on top of a map, as an interstitial, or as a text ad — another claim also discusses displaying where your friends are on the same map. The patent was first filed in 2007, with Loopt founder Sam Altman listed as the primary inventor . (TechCrunch)

A basic contradiction at the heart of the daily deals industry on the Internet has become apparent. Consumers have been told: You will never pay full price again. The merchants were hearing: You are going to get new customers who will stick around and pay full price. Disappointment was inevitable.  (New York Times)

The Huffington Post Media Group has acquired Localocracy, an “online town common” where registered voters weigh in on local issues and come together to solve problems in their communities, using their real names. (TechCrunch)

Gilt City, which focuses on offering daily discounts at high-end spas and restaurants, has acquired fine-dining booking engine The company lets consumers choose from more than 90 private dining rooms in New York City. (AllThingsD)

Can Groupon pull off Groupon Goods? To Peter Krasilovsky, it depends on whether Groupon is (still) seen as a great curator of discounted consumer services and goods – or whether it has watered down its core message (and credibility). Let the consumers decide.  (Local Onliner)

Patch has denied a Business Insider story speculating that the recent dismissal of two calendar editors from San Francisco-area Patch sites could be a sign of impending layoffs. (NetNewsCheck)

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