Axios

Russian President Vladimir Putin plans to replace longtime ally Sergei Shoigu as defense minister with an economist, the Kremlin announced Sunday.

Why it matters: In the biggest security overhaul since Putin's forces launched a full-scale invasion of Ukraine in 2022, Shoigu will be appointed head of Russia's Security Council after serving since 2012 as defense minister.

More than one third of 18 to 24 year olds reported no income through wages or a salary in 2022, according to a recent report out of the St. Louis Fed. That figure is up from about 22% in 1990.

Why it matters: A new generation of workers are dropping out of the workforce before they even begin, despite a resilient labor market, while also struggling with mental health.

This week, Axios caught up with Thoma Bravo managing partner Seth Boro, to chat about the cybersecurity sector's opportunities and challenges.

The big picture: Like other areas of software, venture-backed cybersecurity startups that raised funding at inflated valuations during the pandemic are now great acquisition targets, says Boro, who helps run the firm's cybersecurity investment efforts.

Wiz, a New York cybersecurity company that's seemingly become a large player overnight, is not shy about acquiring its way to success.

Why it matters: Few venture-backed companies openly raise merger and acquisition war chests.

Widening geopolitical divides are disrupting global trade flows, creating spillover effects that are dividing the world's economies into competing blocs, a top International Monetary Fund official warned this week.

Driving the news: At a speech at Stanford University on Tuesday, IMF First Deputy Managing Director Gita Gopinath said that global economic ties are shifting in ways that have not been seen since the Cold War's conclusion.

There's a new set of influencers on TikTok and Instagram: the baby-name consultant who helps parents workshop standout names for their kids with an eye toward cultivating their child's future persona.

• Think: in-utero branding or vibe curation.

Homes with electric vehicle chargers could soon hold greater resale value than those without, Realtor.com chief economist Danielle Hale says.

Why it matters: Access to at-home EV charging is a rare and increasingly desirable amenity.