Axios

The electric vehicle stakes are high as the United Auto Workers begins its unprecedented strike against General Motors, Ford and Stellantis.

Why it matters: The strike can't be untethered from the EV transition as Detroit automakers invest heavily in electric models.

Pennsylvania Sen. John Fetterman (D) joined United Auto Workers members on the picket line Saturday after the union launched an unprecedented strike against General Motors, Ford and Stellantis.

Driving the news: "Hold that line, @UAW ! On my way to join you now," the Democrat wrote on social media Saturday as union leaders and the Big Three automakers were set to resume contract negotiations.

Arm's return to the public market Thursday was hailed by some as a comeback for technology initial public offerings, but the window's reopening is more cautious than it appears at first glance.

What they're saying: "There are deals coming to market with all different sorts of structures, so people are being thoughtful about how they tap the IPO markets at the moment," New York Stock Exchange president Lynn Martin told Axios' Kia Kokalitcheva on Wednesday at Primary Venture Partners' NYC Summit.

An obscure clause from the insular world of venture capital — the liquidation preference — has spilled over into at least two multibillion-dollar M&A take-private transactions where it really doesn't belong.

Why it matters: The two deals, while both exceptional in many ways, are a window into the kind of risk appetite that can be found among the ranks of the world's richest self-made men.

At the beginning of this month, an unknown clothing collector borrowed $1.1 million for a period of just 60 days, at an astonishing interest rate of 40%.

Why it matters: At least some of us still seem to be living in a YOLO world where risk-taking can be an end in and of itself.

Return-to-office mandates are forcing some Americans to move house. But that doesn't mean they need to sell.

Why it matters: If mortgage rates remain high, that just might be the reminder we need that renting is always an option.

Workers in America's biggest, most competitive cities aren't giving up the flexibility and savings — in both time and gas money — of working from home.

By the numbers: Overall, 15% of the U.S. worked from home last year, according to new Census figures released last week — but the numbers are much higher on both the East and West coasts, and in other large metro areas.

The UAW's novel targeted strike strategy against U.S. automakers is already starting to have ripple effects on other factories, raising the risks for both sides if an agreement is not reached quickly.

Why it matters: Until Friday, the UAW has never gone on strike simultaneously against GM, Ford and Stellantis (Chrysler's parent).

West Virginia University's board voted on Friday to cut the school's world languages department and a third of its education department as part of an effort to keep the school "accessible and affordable and relevant," its chair said.

Why it matters: The university's decision to reduce parts of its liberal arts department may be a glimpse of the future of U.S. humanities studies, and more narrowly, may limit students in the poor, rural state.

AI regulation is within sight but it could have less of a limiting effect on innovation than some have feared.

Why it matters: Regulation can make it hard for all but the biggest companies to grow, confined by industry rules that are shaped at times by incumbents.

Nouns are a top-tier NFT project that looks set to split its $50 million dollar treasury in twain today, in the latest cryptocurrency equivalent of Brexit.

Driving the news: The organization had decided to break up, and the only question remains how many members will join the split (which determines how much of the money will go with them).

Thousands of members of the United Auto Workers (UAW) labor union went on strike against automakers General Motors, Ford and Stellantis on Friday.

Why it matters: The massive strike is unprecedented, as there has never been a strike against all three automakers at once, Axios' Nathan Bomey reports.

Grocery delivery company Instacart plans to price its IPO on Monday night and begin trading on Tuesday, sources tell Axios.

Behind the scenes: The Nasdaq opening bell will be rung from Instacart's San Francisco headquarters, where the company will be hosting a celebratory event for employees.

When inflation is a problem, the central bank raises interest rates. That causes some pain and lowers demand, and price pressures recede. That's what they teach in Central Banking 101.

The big picture: But it may not explain what has happened over the last year; inflation has fallen from over 9% at its peak last year to below 4%, with little economic hardship.

Bittrex US will likely have money left over by the end of its bankruptcy proceeding, because its customers aren't claiming what's theirs.

Why it matters: Distinct for its high number of low-balance accounts, the case serves to highlight that being a claimant in a crypto bankruptcy requires a good amount of effort and personal data — and for many, the reward may not justify the price.

Television shows brought to a halt by the ongoing writers strike are starting to announce returns to production, as the strike approaches its fifth month.

Why it matters: As both the writers and actors strikes drag on, television hosts and producers are feeling pressure from other parts of their staff who have been sidelined as a result.

Nicole Musicco has unexpectedly stepped down as chief investment officer at the California Public Employees' Retirement System (CalPERS).

Why it matters: CalPERS is the country's largest public pension system, serving millions of retirees who rely on investment returns from the $463 billion portfolio Musicco oversees.

Walt Disney Co. reportedly has discussed selling ABC to local broadcaster Nexstar, while media mogul Byron Allen reportedly has offered $10 billion to Disney for an asset package of which ABC would be the crown jewel.

Why it matters: Disney may have saved the cable bundle earlier this week via its last-minute deal with Charter Communications, but it seems intent on unbundling itself from linear television.

The United Auto Workers union launched an unprecedented strike against General Motors, Ford and Stellantis after negotiators failed to reach a last-minute deal on a new contract.

Why it matters: The Detroit Three automakers collectively have about 150,000 UAW-represented employees at dozens of factories in the U.S., making popular vehicles like the Ford F-150, Chevrolet Silverado and Jeep Wrangler.

The quest for a microwavable grilled cheese sandwich may have come to an end: Kraft Heinz has introduced a Lunchables version that you take from the freezer and nuke for 60 seconds (and let sit for another 60).

Why it matters: Food makers are busy trying to add convenience and speed to our kitchen experiences — witness the rise of a new category of products called "thaw and eat" — and kid-friendly instant grilled cheese could be a parental game-changer.

I drove round-trip from Detroit to New York City over Labor Day weekend — a grueling 10 hours each way — but for a good chunk of that time, the car took the wheel for me.

Why it matters: Cars with hands-free driver-assistance features are coming on the market thick and fast, but consumers are still wary of them.

The UAW's strike against General Motors, Ford and Chrysler is starting with three plants that make a range of pickups, SUVs and vans that are crucial to the automakers' bottom line.

Why it matters: The automakers have only recently overcome longstanding vehicle shortages that began during the pandemic — and the strike that UAW President Shawn Fain announced late Thursday could plunge them right back into a similar predicament.

Julie Sweet is the 55-year-old CEO and chair of Accenture — the largest IT consulting company in the world by workforce.

• Why she matters: Sweet leads more than 730,000 people across 49 countries in roles that — because of Accenture's strength in strategy and consulting — ultimately drive how other companies harness change.

President Biden spoke with the head of United Auto Workers and executives from Detroit's three legacy automakers Thursday ahead of a looming strike deadline, the White House said.

The big picture: The union is ready to strike all the Detroit Three automakers at midnight if a deal is not reached – an unprecedented move that could disrupt the economy.