For 11-year-old Guangzhou boy Huang Zixuan, summer holiday is a good time to earn money — ¥18 (US$2.6) per Polaroid shot, ¥30 for two. Armed with his dad's old Instax camera, he sets up daily on Shamian Island, earning over ¥1,200 in a month.

insta co-founder @mikeyk on how snapchat and ig made each other better: "My most interesting times at instagram were when we had a snap, for example. An interesting competitor, with a different approach. In a fast-moving market, you borrow ideas from each other." "We each had our own strengths, and we each saw the future in directionally similar ways. For ig, we were known as that precious once-a-week photo, and we wanted to get into to more free sharing, and that's where stories made a difference for us" "For snap, they wanted more of the influencer/celeb piece, [and there they looked to us]." more in the latest

insta cofounder @mikeyk on his secret to consumer app hits: 1. there needs to be a new form factor (for ig, the cameraphone)... 2. + a breakout distro mechanism (sharing ig photos to tumblr, fb, twitter -- creating a cycle) then again, he says, not so easy competing with 1