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

MARKETS CLOSE MIXED AS MEMORY CHIPS TUMBLE AND OIL HOLDS NEAR THREE-YEAR HIGHS Today's tape: - Dow: +0.32% - S&P 500: -0.07% - Nasdaq: -0.51% The damage was concentrated in chips after Seagate $STX CEO told a JPMorgan conference new factories would "take too long" to meet AI demand, per CNBC. The sector wipeout: - Seagate $STX: -7% - Micron $MU: -5% - Western Digital $WDC: -5% - Sandisk $SNDK: -5% - Nvidia $NVDA: -1% - Broadcom $AVGO: -1% Meanwhile, oil stayed bid: - WTI: +3% at $108.66 - Brent: +2% at $112.10 The 30-year Treasury yield is still hovering near its highest level in a year. The S&P 500 and Nasdaq both hit fresh record highs just last week.

🔴 The vehicle’s mangled tank tumbled onto the road before crushing a tree and leaking a pool of sewage. The driver of the truck was left critically injured. 🔗