Social media evolves at the rapid-fire pace of the internet. Here’s a rundown of some of the most recent and relevant social media news and trends, so you can keep up with new possibilities and changing functionality.

Facebook used last weekend’s Lollapalooza to step into the world of live events. Instead of arriving piecemeal from friends and artists in the news feed, festival coverage earned its own separate space. Lollapalooza buzz also included the recently introduced “Place Tips.” This move makes sense in light of the popularity of apps like Snapchat’s Stories, Periscope, and Meerkat.
Besides partying down, Facebook is also running test flights for a huge, solar-powered drone. The drone, named Aquila, is meant to beam down wireless Internet signals to underdeveloped areas of countries like Nigeria and India. And while Facebook may have forced you to update your profile with your real name, Germans will be able to keep their nicknames.

Twitter is experimenting with a “News” tab for live updates and trending reports. This is in line with recent studies showing more and more users turning to social media as a news source. Windows users who updated to Windows 10 will find a newly optimized, built-in Twitter experience. And it turns out Twitter is also a great investment tool.
It’s official – the new Instagram API is up and running. Brands now have the ability to make use of Instagram’s new tools to schedule and launch new ad campaigns.
LinkedIn is joining the content game. The social networking site will be syndicating content for its new network from top LinkedIn influencers. Pinterest unveiled new programs to help increase diversity among its ranks. And finally, last week was not particularly kind to social media stocks. Yelp, in particular, is not looking so hot ever since its chairman stepped down.