This week, The Drill Down team discusses Facebook‘s one billion dollar purchase of mobile phone startup Instagram, and whether or not that portends another tech bubble; plus, Is the age of cheap, subsidized cellphones over? But first let’s look at this week’s tech headlines…

Commodore founder Jack Tramiel dies, Apple patches a trojan affecting 600K Macs, US DOJ sues Apple & e-book publishers for price fixing, the FCC‘s plan to track your lost cellphone, Microsoft pays $1 BN for AOL patents, Nokia launches the Lumia 900, Netflix forms a PAC, and Google Plus gets a makeover.

This week, TDD regulars Andrew Sorcini, Dwayne DeFreitas, and Lidija Davis join Venturebeat‘s Sean Ludwig as we talk to top contributors to Social news site Reddit.com as we find out what makes them do what they do to make Reddit so popular.

But first, the week’s top tech news…President Obama proposes a Consumer Privacy Bill of Rights, Apple acquires Chomp, iPhone user wins $850 in throttling case against AT&T, Apple announces iPad 3 event, Yahoo seeks to force Facebook into licensing patents, Google+ suffers low turnout, Reddit crafts an Internet privacy law.

This week, Andrew Sorcini, Devindra Hardawar, Dwayne De Freitas, and Christopher Burnor take a look at other companies that are storing your data without your permission, following last week’s coverage of the Path debacle, and later we examine former TechCrunch reporter turned Crunchfund partner MG Siegler‘s claim that tech journalists today are foregoing putting research and expertise into their work in favor of using sensationalism to chase page views. But first, the headlines…

Google develops a home entertainment system, two Kickstarter projects hit the $1 million mark, SNL pokes fun at Verizon marketing, Steve Jobs earns a posthumous Grammy, Twitter beats MSM on news of Whitney Houston‘s death, The Pirate Bay says goodbye to .torrent files, Apple readies the iPad3 (and tests an 8-in. tablet), and Apple invites inspections of its suppliers.