and these are polaroid filters. and that's what they, in a sense, are 'cause they're made up of molecules in here which are crystal-- little crystal-- the crystals or molecules that are all lined up in one direction and will allow the light to pass through one way. i can kinda show you that with a lamp here and using tools. you can still see the light. these things must be lined up. what's coming through one comes through the other, but let me turn it. what happens right in there, gang? right in there. can you see that the light doesn't come through? or i can hold this like this and just turn this. comes through, comes through, comes through, doesn't come through. not so much, no much and now it's blocked up. ain't that nice? now, hc. how come? this is easy to see. it requires a knowledge of vectors, the arrows. let's take a look. let's suppose my lamp, my original polaroid, is like that. light coming through. what kind of light can it come through, gang? light hitting it is like this. like this that hits it-- but t

an app that makes your photographs look like vintage polaroids. they got a billion dollars for that. for making your pictures look like crap. meanwhile poor tom from my space just announced he's selling his mom's polaroid camera on ebay for five dollars. a billion dollars -- i don't know. unless they have some faded washed out photos of mark zuckerberg killing a hooker, it doesn't make sense. if you said facebook acquired instagram, you'd think they were talking about a veneerial disease. so we told some senior citizens about it to get their take on it. >> today facebook acquired instagram. how do you feel about that merger? >> i have no idea. i don't know anything about it. i'm sorry. >> today facebook acquired instagram. how do you feel about that merger? >> about what? >> today facebook acquired instagram, how do you feel about that merger? >> i am 98 years old. >> how do you feel about the merger between facebook and instagram? >> huh. >> i'm not into any of that. >> huh. >> don't know anything about this new stuff. >> i'm not even sure i know

. >> the polaroid needs these voters badly. in 2008 he won the youth vote by 66%. >> but some of that enthusiasm has waned. just 45% say they have a high interest in the fall election. >> i think if obama loses the huge edge he has among youth it's going to be a very, very close election. >> count chocula is right. ( laughter ) ( applause ) good to see him getting work. good to see him getting work. this could be close for obama, and obama is clearly panicking. because on tuesday, in a blatant pander to the youth vote, obama went on the jimmy fallon giggle-time news hour to talk about his student loan policy. it was a pathetically successful ploy to be appealing. and fox news nailed him for it. >> he's on jimmy fallon slow jamming about a policy that is actually not going to help anybody. >> he needs to look presidential. does this make somebody sitting at home without a job, you know, without a home, or a home facing foreclosure saying, "i'm going to vote for him"? >> so lame, so unfunny. >> i just personally do not agree with

like a polaroid picture from 1970s. so here, take a look at this picture of the bay bridge before instagramz then... take a look. here it is after. after the filter is applied abc 7's david louie is going join us live now to tell us more. >> and this is the largest accusation. >> and a sample helps underscore why it's become so popular and why there are 30 million users today. facebook spent $1 billion on it but reasons just beyond esthetics. instagram is more than a photo application. it let's fot yez -- people post photos on different social media sites. saying it provides valuable information about personal interests. >> taking photos of snow boarding i'm taking photos of cars face dook book going to be able to tap into the data. and victoria is the ceo of a marketing software company. photos are searchable and posted to promote popularity this will give it more value. the ceo wrote, quote, we don't plan to do many more of these in fi. but providing best photo sharing experience is why many people love facebook and a

it looks ike a black and white and a polaroid. can also take a new picture, change it up and share wit friends. >> jon: wow, that's really lame. [ laughter ] why is that this news. >> facebook buying the free smart phone mobile sharing app for $1 billion. >> jon: $1 billion of money? [ laughter ] for a thing that kind of ruins your pictures? [ laughter ] the only instagram worth $1 billion would be an app that instantly gets you a gram of uncut clom bean black coffee well. technology stories they make no sense to america i'm joined by the senior youth correspondent jessica williams. [cheers and applause] >> thank you very much. hello, jon. >> jon: ins instagram. how in god's name is that worth $1 billion? >> what? because it's awesome before instagram if i wanted my pictures to look like they were take innocent 60s, i would have to invent a time machine and travel back 50 years. do you know how much a time machine would cost to build? >> jon: i don't know how much. >> probably like $1 billion. not to mention the risks about changi

that allows you to take any picture and make it a memory, so it looks like a black and white or a polaroid from the '70s. you can also take a new picture, change it up and then easily share it with friends. photo sharing is one of the most popular things people do online. instagram's 30 million users include sebls like justin bieber and kim kardashian. as well as ordinary users documenting their lives, and even some news events, like the blizzard of 2010. today they reacted visually to the news that facebook had bought the company. not all of them favorable. >> i think they're worried that their little pet will be ruined in some way. >> reporter: in dollar terms, this is by far facebook's biggest acquisition to date, and it's the silicon valley dream, really. smart people rewarded for good ideas and these days, mobile is king. but a billion dollars for a company that has no revenues? even in this new economy, that's bound to raise some eye braus. >> your daughter looked great, thanks very much. . >>> today the special prosecutor on the case said she'll work without one upon. does that mean

and then the fire trucks came but they waited way down because there was nothing they could do a polaroid from or for. all neurosurgeon yeah so i think they were there basically for our homes and if they caught fire something you know something on our structures. and just real accidents and spills are common in these communities between two thousand and three and two thousand and eight it is estimated that there were one files and four hundred and thirty five spills in colorado. nearly a quarter of these schools are believed to have contaminated either ground or surface water in the state. every time we are that's why that's why we see this right see. i wasn't coming up with you know. a little farther down dry hollow road is the divide creek. ok here we go that's where lisa bracken and her family live. this is that for us first discovered. we got a call one day april first from a neighbor steve thompson and said you know i found some stuff down here on my place it doesn't look right. come look at it and he said this is not normal the all involve over matter water affairs very large little

some of the options make the photos look like they've been shot in the '1970s or on polaroid cameras.> that's a major deal there. >>> smokers in san jose could have a pretty tough time figuring out where they can light up if the city approves a new ordinance. the latest smoking ban up for vote. >> reporter: san jose already bans smoking in restaurants and citibles, but if city council approves a new ordinance, you won't be able to light up in restaurant pat yoes. the proposed ban includes sidewalks and would prevent you from lighting up while waiting in line such as to use an atm. it would ban smoking at outdoor apartment areas, condos and mobile home parks. some residents say it's too restrictive. >> i think it's pretty harsh, just the fact that, i mean, there's a lot of people that smoke. it's very addictive. they have trouble kicking the habit. and i mean, to have them stop, i mean practically anywhere, like you said, in line, atm lines, parks, in front of a restaurant, i mean, where can they go? >> free california is in favor of the ordinance. they submitted a petition with signat

pictures and to take pictures and apply one called what's called filters seeking a cure all look like a polaroidphoto were really cool is fun but it's also a place you can share photos so it's kind of parallel to face up in that respect it's another smaller voting share in sight. >>> it is felt fit there's a lot of power of dna. it is a dream is to grant 12 people is all i have working there 3 million users and have been up and running less than two years 12 wealthy people. >>> so there's a lot of figure with they spoke my question is done no is a much duplication is there are they real buying a lot of their same users because he got to figure some easing in saddam is using facebook measure is the guys realize just because they have been using these book they aren't using as much for photos. >>> on the users? >>> 30 million on this in a course 900 million or so on facebook so it's like this in terms of scale. but again this is a very hip and lentils order that bans the environments the conventional wisdom is this is all of these are digital and saddam lubbers said they love this dna and they spo

remember kodak just filed for bankruptcy this year and they are the ones who invented polaroids.of 30 million people. and it just sold to you facebook. there's a famous internet saying that explains if you're not paying for it, you're not the customer, you're the product being sold. that's why instagram doesn't need revenue or eliberate business model. it has the legal rights to the photos of its users. some are getting upset. there is a big backlash to the sale. avenues was announced, one of the most common tweets was people unstalling the application. instagram users are fretting about facebook's outreach. good. the question is not whether we trust instagram more than facebook or whether this year's management is more responsible than next year's management. it is not about people or brand. i think it is about rules. the contracts that we sign with tech companies. and the fact is that instagram's contract, terms of use policy that you click on to use the service, is already really similar it facebook's. you want it give a couple exam. possess many both claim worldwide right to

instagram let's people put filters on their photos to make them look older or as if they were shot on polaroidthe largest purchase facebook has ever made. if it were to divide among 13 employees they would each get about $77 million in cash and stock. wow. a deal worth nearly a billion dollars today for the yellow pages. at&t reports it's selling majority stake to a private equity firm for $950 million. the business has been shrinking in recent years as consumers choose to go online for the information they need. how would you like the irs to be more involved in your life? dream come true, right? next, the plan to have the agency keep tabs on your health coverage. but, first, television news mourning the death of one of its icons tonight the cbs legend mike wallace. >> i don't have subpoena powers. they know who i am when they come on. >> shepard: all the news makers knew him. some wish they didn't. >> everybody is scattering like cockroaches around here. >> shepard: mike wallace could walk into the office of an alleged con man and point out that the diploma hanging on the wall is a fake. >> t

so it looks like an old black and white or even a polaroid from the '70s.an also take a new picture. change it up and then easily share it with friends. photo sharing is one of the most popular things people do online. instagram's 30 million users include celebrities like justin bieber and kim kardashian. as well as ordinary users documenting their lives and even some news events. like the blizzard of 2010. they reacted visually to the news that facebook had bought the company. not all of them favorable. now in dollar terms, this is, by far, facebook's biggest acquisition to date. and it's the silicon valley dream. smart people rewarded for great ideas. and these days, mobile is king. but a billion dollars for a company that has no revenues? even in this new economy, it's bound to raise some eyebrows. david wright, abc news, los angeles. >> i will suppress my jealousy long enough to share one incredible statistic here. on average, 250 million photos uploaded to facebook every day. this seems to be a brilliant partnership. >> every single day. >> every day.

. >> reporter: then one day she picked up a polaroid camera and took a snapshot. >> it made me happy. of physical effort. then i just got hooked. >> reporter: smith refused to dwell in her grief. >> if we listen, the dead will speak to us. they will come to us. they will counsel us. they will fill us with their love. i know. believe me. i got a whole bunch of them. >> reporter: she got help from unexpected places. on the valentine's day after her husband's death, she was sitting alone after putting her two children to bed. >> i answered the phone. this voice said, "hello. you don't know me. but my name is michael." i knew who michael was. i loved his music. he told me that he knew we didn't know each other but he knew that i had lost... i'm sorry sdts that i had lost my love and that it was probably my first valentine's day without him. in a long time. and that he called to ask if he can be my valentine. that was how i met michael over the phone. through a beautiful gesture. and i hung up and i felt really happy. i did. i went to bed happy. ♪ people have the power ♪ people have the po

save on the polaroid. >>> still ahead, 16,000 iphones sold every hour. valuable company in the world gets even bigger.ç staggering numbers in apple's quarterly report. christine romans, true to form, telling us it's true, folks. this company is unbelievable. we're minding your business, next. [ female announcer ] weak, damaged hair needs new aveeno nourish+ strengthen. active naturals wheat formulas restore strength for up to 90% less breakage in three washes. for strong, healthy hair with life, new aveeno nourish+ strengthen. hey, dad, you think i could drive? i'll tell you what -- when we stop to fill it up. ♪ ♪ [ son ] you realize, it's gotta run out sometime. [ male announcer ] jetta tdi clean diesel. the turbo that gets 42 miles per gallon. that's the power of german engineering. ♪ this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announ

then the nifty fifty, the polaroids, and so on.u go into the period in which the tmts -- >> you're suggesting this will not last? >> no, i think it will. i'm looking out five years from now a trillion dollars market cap for a company and you do have a bell shaped curve of evaluations. i heard the same arguments on cisco. apple will be a terrific company five years from now. i don't know how i'll split it up to the degree that it don't own apple. my clients in the first quarter had a 25% rate of return. the market was up 50 because of apple. i look dumb. i didn't take any dumb pills. i just have to stick to my disciplines. >> we'll hear more -- he's got his smart pills. >> i took a dumb pill. >> throughout the next two hours. thank you. this is always fun. >> not really. >> you tell people those little blue pills you take are dumb pills in >> smart pills. >> comments, questions about anything -- >> what pills would those be? >> comments, questions about anything you see. i see all these spots in front of my eyes. e-mail us. follow u

xerox, polaroid, i'm trying to remember some of the others. it's the nifty fifty. that? in a post jobs era, this v they built in some assurance against it? >> i can't imagine. they are working the way they always have, which is real focus in delighting their customer in the spirit of steve jobs but steve jobs is not there anymore and we just don't know what tim cook can do. we don't know what the apple tv will look like if it comes out and what products will emerge. there are still riding projects that have come out under steve jobs. it's a big unknown. >> i would say there's an insurance policy, called $100 billion. >> in cash. >> if they have to, they can go out and buy something, although that's certainly not something in their country. >> like a small country. it just seems inevitable to me that the market will work its magic and apple will lose some of its position. android has its own issues right now. microsoft, blackberry are basically off the playing field, as we speak. but it will be something and that's the cycle of life and the best companies react and