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Location sharing among friends, family, and significant others has quietly become the norm in recent years. Now Instagram is looking for a piece of the action with the launch of a new opt-in map tool that lets users share their whereabouts, similar to Snapchats Snap Map or Apples Find My. The feature is already available to users in the U.S. Tapping the Map circle on the Messages tab reveals an interactive map showing which friends are nearby and any location-based content theyre posting. “People have always come to Instagram to share what theyre up to and where they are,” the company wrote in a blog post. “Now, with reposts, the map, and the Friends tab in Reels, its easier for you and your friends to stay in touch through the content youre enjoying on Instagram.” In addition to being a convenient way to link up with friends, the tool allows users to explore local hot spots that creators have shared or engaged with. If a friend shares a story from a nearby music festival, for example, it will show up on the map. And if an influencer recommends a new coffee shop, youll be able to see exactly where it is. While location sharing has become a common tool for keeping track of loved ones or checking in with friends, Instagram’s map offers robust controls to ensure the feature is not abused. Location sharing is off by default, and users locations update only when they open the app. You choose who you share your location with and can opt not to share your location in specific places or with specific people. Even if you’re not sharing your own location, you can still use the map to explore public posts and tagged spots. Users can also leave notes on the map for friends to see. The update reflects a broader trend of social apps becoming more rooted in real-world connection. After coming for Snapchats Stories back in 2016, Instagram is attempting to steal Snap Maps thunder. Snap Map recently surpassed 400 million monthly active users and remains one of Snapchats core engagement drivers.
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E-Commerce
At least one companys bet on AI appears to be paying offfor now. Language-learning platform Duolingo reported earnings results for the second quarter of 2025 on Wednesday after the market closed, and the numbers were eye-opening. The companys revenue increased 41% year-over-year to more than $252.3 million, and net income tallied $44.8 million, up 84%. Its number of paid subscribers was up to 10.9 million from 8 million a year ago, and its daily active users neared 48 million, up from 34 million last year. Im happy to report another quarter of great results, driven by product-led growth, a delightful learning experience, and fast iteration,” wrote Luis von Ahn, Duolingos co-founder and CEO, in a letter to shareholders. “Our user growth and engagement remain strong, and our subscription performance and profitability exceeded expectations.” Von Ahn also thinks theres plenty of room to grow ahead, too, especially as AI is helping boost user engagement and profitability. We believe were still early in our user growth journey,” he continued. “Weve delivered innovation while growing profitabilitythrough strong performance across all subscription tiers, continued investment in our core product, and new subjects that help us increase engagement. We remain focused on building for long-term engagement and growth. The blowout quarter, notably, comes after Duolingo was among the first large companies to publicly lean into AIspecifically, replacing swaths of its human workforce with AI. For a while, it appeared that the strategy was backfiring, but now, thats not so clear. Investors seem happy, as the price of Duolingo shares shot up significantly after hours. As of the closing bell at 4 p.m. ET, Duolingo stock was trading for less than $344 per sharebut as of 4:10 p.m. ET, shares were trading for $426.60. Thats an increase of more than 24%. Duolingos shares had been on a downward slide, too, in recent weeks. Over the past month, the stock was down more than 13%, although its more than doubled over the past calendar year.
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E-Commerce
The White House was preparing to act against banks for allegedly dropping customers for political reasons, as President Donald Trump said he believes that banks, including JPMorgan and Bank of America, had discriminated against him and his supporters. A draft of the executive order, which was reviewed by Reuters, instructs regulators to review banks for “politicized or unlawful debanking” practices. The order could authorize monetary penalties or other disciplinary measures against violators. It is likely to be announced as early as this week, two industry sources said. The White House had no immediate comment on the reported order. Trump’s criticism adds pressure on America’s largest lenders, but it also shows how the president’s personal slights and business interests are getting reflected in the administration’s policies — something that critics say raises issues of conflicts of interest. The sprawling Trump business empire has been placed into a trust, but it is still ultimately owned by the president. An executive order against the banks would come after Trump said in a CNBC interview on Tuesday that the country’s top two lenders had previously rejected his deposits. Trump said, without providing evidence, that the banks’ refusal to take his deposits indicated that the administration of former President Joe Biden had encouraged regulators to “destroy Trump.” “They did discriminate,” Trump said of actions taken by JPMorgan after his first term in office. “I had hundreds of millions, I had many, many accounts loaded up with cash and they told me, ‘I’m sorry sir, we can’t have you. You have 20 days to get out.” “They totally discriminate against, I think, me maybe even more, but they discriminate against many conservatives,” he said. Trump said he subsequently tried to deposit funds with Bank of America and was also refused, and eventually split the cash. “I ended up going to small banks all over the place,” he said. “I was putting $10 million here, $10 million there, did $5 million, $10 million, $12 million,” he said, without naming the lenders. In a statement, JPMorgan did not address the president’s specific claims about his account. “We dont close accounts for political reasons, and we agree with President Trump that regulatory change is desperately needed,” JPMorgan said. “We commend the White House for addressing this issue and look forward to working with them to get this right. BofA also did not address Trump’s specific claims. ‘Reputational risk’ issue During Biden’s administration, regulators were able to scrutinize banks’ decisions on the basis of reputational risks, a source familiar with the matter said. Lenders were under intense scrutiny and pressure to weigh reputational risks when dealing with Trump because of his legal woes, another source familiar with the situation said. JPMorgan continues to have a banking relationship with members of the Trump family that dates back years, and it also banks a number of campaign accounts linked to Trump, the source said. After Trump took power, the Federal Reserve announced in June it was directing its supervisors to no longer consider reputational risk when examining banks, a metric that had been a focus of industry complaints. “What the White House is doing is telling the banks not to hide behind regulations to deny loans or banking relationships,” said Wells Fargo bank analyst Mike Mayo. “Banks can use their normal underwriting standards and deny services, but not blame regulators or use reputational risk as a justification.” BofA said it welcomed the administration’s efforts to clarify the policies. “Weve provided detailed proposals and will continue to work with the administration and Congress to improve the regulatory framework,” the bank said. Trump in January admonished the CEOs of JPMorgan and BofA for denying services to conservatives. At the time, the two banks denied making banking decisions based on politics. ‘Regulatory overreach’ Banks have consistently argued that any complaints about “debanking” should be aimed at regulators, as they argue onerous rules and overzealous bank supervisors can discourage them from engaging in certain activities. “The heart of the problem is regulatory overreach and supervisory discretion,” the Bank Policy Institute, an industry group, said in a statement. Lenders have held discussions around debanking and weighed scenarios around a potential order, the first source said. Banks are also hopeful the administration may change anti-money laundering laws that they say are outdated and burdensome, the source added. Andrea Shalal and Doina Chiacu; Additional reporting by Pete Schroder, Nupur Anand, Tatiana Bautzer, and Saeed Azhar, Reuters
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E-Commerce
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