LA Tech Updates: Instagram Launches TikTok Competitor

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  • Instagram Launches TikTok Competitor, Reels

          Instagram Launches TikTok Competitor, Reels

          Instagram Reels

          Reels, the Instagram video-sharing product to rival TikTok and Triller, launched Wednesday in 50 countries including the U.S.

          Reels lets users create short-form edited videos with filters, all set to music. Creators can share them with their followers or, on public accounts, make them widely watchable through Instagram's explore page.

          Reels represents Instagram's latest attempt to draw in users loyal to apps like TikTok, the Culver City-headquartered company that's in talks with Microsoft for a potential sale after President Trump threatened to ban it in the U.S.

          In a recent blog post promising more transparency, TikTok's CEO called Reels a "copycat product."

          Before Reels, Facebook — which owns Instagram — tried its hand with Lasso, a similar product that shut down in early July.

          YouTube is planning to release its own TikTok rival, Shorts, by the end of the year. The feature would also let users upload video featuring licensed music from YouTube's catalog.

          Triller is another app that has seen user interest rise as TikTok hits headwinds. The company saw a massive uptick in users after India's prime minister banned a slew of Chinese apps including TikTok in June.

          "Instagram is excited to see how the community gets creative with Reels and for members to discover + break a whole new generation of Instagram talent," the company said in a statement.

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          What's going on with L.A.'s tech and startup community? A lot! dot.LA chief host and correspondent Kelly O'Grady takes you through the key points of the top five headlines from this week. Don't miss out on the essential news you need to know:

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          On this week's episode of L.A. Venture, hear lots of insights on equity crowdfunding from Buck Jordan. He's raising $50-$100K a day, mostly on SeedInvest, for the robotics and food companies coming out of WaveMaker Labs.

          Jordan also addresses the dramatic changes coming to the food industry, and why WaveMaker is so focused on the application of robotics to this industry in particular.

          "The best investments I think come from the really hard problems," he says. "There's not a bigger problem right now or an industry that's more under siege than the food industry is."

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          As the country prepares for mass COVID-19 vaccinations, OnSite Waste Technologies is expecting a spike in demand.

          The Newport Beach-based company's device quickly sterilizes needles and other biomedical waste, a process that can take clinics and nursing homes over a month as they ship off the hazardous materials to one of the country's several dozen incinerators.

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