Amazon's Revenue Rise, Instagram's Backtrack, and U.S. Semiconductor Support

Even a weak earnings report from Apple can still break records. Instagram’s been in a stare down with the Kardashians, and Adam Mosseri just blinked. Congress just passed a ton of money to jump start domestic chip production. And, of course, the Weekend Longreads Suggestions.

Sponsors:

• KeeperSecurity.com/techmeme
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Links:

• Apple iPhone Sales Remain Resilient as Company Reports 11% Decline in Profit (WSJ)
• Instagram walks back its changes (Platformer)
• CHIPS Act clears Congress, ensuring $52 billion boost to US foundries (The Verge)

Weekend Longreads Suggestions:

• The Buy Now, Pay Later Juggernaut Is About to Be Tested (Bloomberg)
• F.T.C. Chair Upends Antitrust Standards With Meta Lawsuit (NYTimes)
• Who Is Collecting Data from Your Car? (The Markup)
• TikTok and the Fall of the Social-Media Giants (The New Yorker)
• RollerCoaster Tycoon taught me to be a ruthless capitalist (Polygon)

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