Instacart’s Nasdaq Debut: A Game-Changing Milestone at $30 Per Share

Daily Brief: Instacart’s IPO, Elon Musk and Tesla, Ford’s workers and the four-day work week, and more – Quartz

Good morning, Quartz readers!

Here’s what you need to know:

  1. Instacart priced its IPO at $30 a share, giving the grocery delivery company a market value of approximately $10 billion after its Nasdaq debut.
  2. Ever wondered what inspired Elon Musk’s design for Tesla’s Cybertruck?
  3. Norfolk Southern announced its plan to compensate homeowners in East Palestine affected by a train derailment which caused the release of toxic chemicals earlier this year.
  4. Microsoft’s chief product officer, Panos Panay, is leaving the company after almost two decades to head Amazon’s devices division.
  5. Reports suggest that Tesla is in talks to build an electric vehicle (EV) factory in Saudi Arabia, although CEO Elon Musk has denied it on Twitter.

Now, let’s move on to some intriguing news:

Turkey responded to a Starlink request with a Tesla request

During a meeting at the UN General Assembly, Turkish president Recep Tayyip Erdoğan asked Elon Musk to consider building a Tesla factory in Turkey. The picture above captures Erdoğan, Musk, and another executive discussing this potential collaboration. Interestingly, the meeting involved executives from Starlink and SpaceX, Musk’s satellite network and rocket-making company respectively. It seems that Erdoğan’s request for a Tesla factory was a response to Musk’s request for permission to operate Starlink in Turkey, where the network currently has limited coverage.

Can factory workers change the shape of the work week—again?

As Ford Motor founder Henry Ford once championed the five-day work week, Ford employees are now advocating for a four-day work week. The United Auto Workers (UAW) recently started a historic strike against major US carmakers, including Ford, General Motors, and Stellantis, with a list of demands that includes a shorter work week. While some office workers already enjoy a four-day work week, it has yet to be implemented on the assembly line. The UAW’s demand could potentially bring about a revolution in the work week. Find out more about this story here.

Pop quiz: The future of ABC

Let’s test your knowledge about Nexstar Media, the potential buyer of Disney’s ABC network:

A. It controls 200 local broadcast stations.

B. Its network reaches 68% of US households.

C. It owns or partially owns the CW, the Food Network, and The Hill.

D. It isn’t ABC’s only suitor.

Surprisingly, all of the above options are correct. Disney is reportedly planning to spin off ABC, considering it no longer aligns with its core operations. Nexstar is the likely candidate to take over, although other media outlets and tycoons are also exploring the possibility.

Quartz’s most popular articles:

Surprising discoveries:

  • Song choruses are moving closer to the start. To count as a listen on streaming services, tunes need to play for at least 30 seconds.
  • The US lost a $100 million fighter jet, and authorities are seeking public help to locate it after the pilot ejected from the aircraft.
  • A dinosaur skeleton named “Barry” is going up for auction in Paris, and it is expected to fetch more than $1 million.
  • England and Wales are experiencing a decline in watering holes, with two pubs shutting down every day since the beginning of the year.
  • The Ig Nobel Prizes were recently announced, honoring unusual and comical scientific achievements, including studies on counting cadaver nose hairs and rock-licking scientists.

That’s it for today. Have a productive day! Send any news, comments, 30-second songs, or tickets for a disappearing pub crawl to [email protected]. Don’t forget to join our community of readers by becoming a member to support Quartz’s mission of providing accessible news for all. Today’s Daily Brief was brought to you by Morgan Haefner, Susan Howson, and Julia Malleck.


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