Good morning, Data Sheet readers. This is Fortune writer Aric Jenkins filling in for Adam.
There’s been a lot of coverage of TikTok this week, what with President Trump threatening to ban it in the U.S.—incensing Beijing and opening the door for Microsoft to buy the popular social media app for a reported $30 billion. Lest we forget, Facebook has also been working on a TikTok clone for Instagram that finally arrived on the platform yesterday.
The new feature, Instagram Reels, is no small deal. Remember the last time the photo and video app copied a high-profile rival: Has Snap ever fully recovered from Instagram lifting the temporary 24-hour “Stories” feature that sent Instagram’s monthly active users to over 1 billion? Every time users scroll through a few Stories, they’re served an ad, which makes Instagram money, of course, not to mention a cut of all those e-commerce sales.… Read the rest