The Instagram app is seen in the App Store on an iPhone. Photo: Jaap Arriens/NurPhoto via Getty Images

It’s been a short week thanks to Labor Day, but the tech industry has been busy making tons of news.

Catch up quick: Instagram is reportedly developing a shopping app; Lyft launches scooters in Denver; Snap releases new models of Spectacles; Microsoft (Oct. 2) and Google (Oct. 9) announced hardware events.

Instagram is reportedly developing a shopping app.

Lyft launches scooters in Denver. After months of speculation, preparation and a big letdown in its hometown, San Francisco, Lyft finally rolled out its first scooters this week.

  • Why it matters: Scooters and bikes are the next frontier of smartphone-based transportation, and ride-hailing companies like Uber and Lyft are getting in the fight against specialized companies like Bird and Lime.

Snap releases new models of Spectacles, its connected sunglasses.

  • Why it matters: Snap bills itself as a "camera company," not just the maker of an ephemeral app for teens, but the first version of Spectacles was not nearly the success it hoped. Still, the company seems to persist in its hardware ambitions.

Two major hardware events announced: Microsoft on Oct. 2 and Google on Oct. 9.

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Big Tech's share of the S&P 500 reached record level in August

Expand chart
Reproduced from The Leuthold Group; Chart: Axios Visuals

The gap between the weighting of the five largest companies in the S&P 500 and the 300 smallest rose to the highest ever at the end of August, according to data from the Leuthold Group.

Why it matters: The concentration of wealth in a few massive U.S. tech companies has reached a scale significantly greater than it was before the dot-com bubble burst.

Fortune 100 companies commit $3.3 billion to fight racism and inequality

Data: Fortune 500, Axios analysis of company statements, get the data; Chart: Andrew Witherspoon, Naema Ahmed/Axios

Big businesses continue to push funding toward fighting inequality and racism, with the 100 largest U.S. companies' monetary commitments rising to $3.33 billion since the death of George Floyd at the hands of Minneapolis police earlier this year, according to an Axios analysis.

Why it matters: The continued pace of funding commitments shows that months after Floyd's death there remains pressure for the wealthiest corporations to put their money behind social issues and efforts.