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.