Good morning, Quartz readers!
Hereās what you need to know
US autoworkers went on strike... Americaās āBig Threeā carmakersāGM, Ford, and Stellantisāare facing an unprecedented walkout.
...while Hollywood writers and studios are set to restart talks next week. The strike, now entering its 20th week, has ground showbiz to a standstill.
President Joe Bidenās son was indicted on federal gun charges. Hunter Bidenās trial will take place in 2024 amid his fatherās reelection campaign.
Arm stock jumped 25% in its Nasdaq debut. The chip maker is valued at a steep premium, and is attracting the bluest of blue-chip tech companies.
China is a master de-risker
China has fiercely griped about actions that Western nations have taken to address supply chain vulnerabilities across key industries, slamming the so-called āde-riskingā strategy as ādecoupling in disguise.ā And yet, the world would be hard-pressed to find a country thatās as good at de-risking as China.
China, in fact, has been de-risking for decades, with origins that can be traced back to the 1980s when then-Chinese leader Deng Xiaoping supported a ātwo markets, two resourcesā approach: That is, there are markets at home and abroad, and resources domestically and globally, and China needs to strategically use both. Quartzās Mary Hui describes how Chinaās fluency with de-risking guided its evolution into an offensive and defensive player in global supply chains.
Thereās AI in my Cokeāand my beer, and my chocolate?!
The maker of Coca-Colaāand the food industry at large, reallyāis making use of ācobots.ā Before you freak out about what that might be, itās just a mashup of the words ācollaborativeā and ārobotsāāa form of incremental automation that has been billed as a way to address macroeconomic challenges and cut costs in the industry, while still maintaining input from humans.
One of the cobotsā latest creations is Coke Y3000, marketed as having been co-created with AI and fizzing to the brim with notes of the year 3000, whatever those might be (the future, reportedly, is candy sweet).
But the food industry has been working with AI for several years to develop everything from plant-based cheeses to beer to candy. Julia Malleck has a nifty timeline of some recent notable cobot food projects. (Donāt forget a generous pour of Beckās Autonomous or Artificial Intelligence IPA in your Oktoberfest stein this Saturday.)
One big number: More than a third
Share of the 153 major professional menās sports teams in the USā those comprising the MLB, MLS, NBA, NFL, and NHLāpartly owned by private equity groups.
Take the New York Yankees for example. In 2011, the baseball clubāwhich has been owned by the Steinbrenner family since 1971āsold a minority share to Connecticut-based investment firm RLB Holdings and its CEO Ray Bartoszek. Since the sale, the teamās value has increased by 317% to $7 billion.
When did pro sports become such a boon for private equity? Diego Lasarte explains.
Quartzās most popular
šØļø Tesla is experimenting with 3D printing its car bodies
š„¤ The end of McDonaldās self-serve soda signals a drive-thru-only future
š These are the 20 countries identified as āplanet wreckersā for their new oil and gas plans
š¶ Hipgnosis is selling off Shakira songs to pay down its debt
š¼ Why the Gates Foundation is hopeful in the face of a global backslide in maternal mortality
š„ Five questions that investors will have about the Instacart IPO
Surprising discoveries
Crows can statistically reason... Let the great Crowening commence.
ā¦and an endangered nocturnal parrot might bounce back. Scientists have mapped the full genome of the kÄkÄpÅ (pdf), which looks like a bearded walrus bird, and basically kind of is, as itās too heavy to fly.
Back in 1883, Evert Nymanover wanted to make a machine that read books aloud from inside of a hat. But the history of audiobooks goes back much, much farther than that.
A stolen Van Gogh painting was returned in an Ikea bag. It was snatched more than three years ago from a museum in the Netherlands, and honestly, the vessel carrying it home is less weird than why it was stolen.
The driest, hottest National Park in the US is closed because itās too wet. Death Valley is overrun with water from Hurricane Hilary.
Our best wishes for a productive day. Send any news, comments, the reasoning of a crow, and the resilience of a kÄkÄpÅ to talk@qz.com. Reader support makes Quartz available to allābecome a member. Todayās Daily Brief was brought to you by Morgan Haefner, Susan Howson, and Julia Malleck.