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The video platform just made a creator tool available that can turn YouTube videos into Shorts in a matter of moments, Sarah reports. Like YouTube, but shorter: TikTok and Instagram Stories have been eating into YouTube’s numbers, and the Google-owned giant isn’t loving it.On TC+, Haje wonders whether the passage of the CHIPS Act could launch another US startup renaissance. Today, the CHIPS Act staved off last-minute attempts by the GOP House leadership to derail its passage and will be on its way to POTUS’s desk next. You’re looking more chipper already: Brian has been following the CHIPS Act moving through the government process.Have a good one, and see you next week! - Haje The TechCrunch Top 3 Applications close August 5, so get cracking!

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It gives you the chance to exhibit your startup for free at TechCrunch Disrupt in October and win the $100,000 prize. This weekend, earmark a bit of time to apply to our Startup Battlefield 200. (I can only assume that WFH stands for Work From Hammock). Good morning, you wonderful specimens of humanity! It’s Friday, and I’m writing this from the hammock in my sunny North Oakland garden, so life ain’t all that bad. To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m.