DoorDash's autonomous delivery plans will get an assist from the Rivian spinoff Also. On Tuesday, the companies announced a strategic partnership in which the delivery company will invest in Also. They intend to "develop and accelerate deployment of autonomous delivery at scale."

The companies didn't specify which micromobility vehicles will be used. Also, which Rivian spun off as a separate company in 2025, is currently focused on models that combine pedals and motorized assist.

Also's first commercial product is the $3,500 TM-B e-bike with a virtual drivetrain. Seemingly more tailored to DoorDash's needs is the TM-Q. This four-wheeled EV is designed to haul cargo while still fitting in bike lanes. (Have fun with that, cyclists!) The larger (commercial) version, pictured below, looks like it could haul quite a few food orders at once.

Also

In a statement, Also co-founder and president Chris Yu said the partnership will deploy autonomous vehicles in "areas not yet fully solved for." These include "the intersection of roadways, bike lanes, and road adjacent spaces." In October, Amazon agreed to buy thousands of TM-Q vehicles for last-mile deliveries.

As part of the deal, DoorDash co-founder Stanley Tang will join Also as a board observer. TechCrunch reports that the partnership boosts Also's valuation to above $1 billion.

The Trump administration yesterday took a giant step toward allowing alternative assets in 401(k) plans, with the Department of Labor proposing rules that now will be open for two months of public comment.

The big picture: Pay more attention to the actual rule than to the press release.

• The former focuses primarily on process, including the use of benchmarks. The terms "prudent" or "prudently" are mentioned 105 times. It makes no claim that adding private equity or crypto to a 401(k) will improve performance.
• The latter does a lot more cheerleading for "President Trump's promise for a new golden age," although it does cite "prudent process" near the end.

What they're saying: "I'm surprised by how neutral the rule was, when you think about the massive amount of lobbying there's been around it," a senior 401(k) manager tells me. "It doesn't say certain assets are good or bad. Instead, it really focuses on making a rules-based framework instead of a litigation-based one."

Zoom in: Expect a lot of public comment, particularly from those who fear this expansion could expose retirement savings to higher risks.

• The final rule may look different, as DOL does seem to want advice in certain areas, but don't expect any wholesale change of direction.
• This effort springs not only from President Trump's executive order last summer, but also from his broader belief that Americans will benefit from expanded access to, and participation in, capital markets (e.g., Trump accounts).

Look ahead: Private equity's marketing machine is already ramping up, particularly as the DPI drought has caused some longtime institutional backers to cool on the asset class. It wants individuals to demand its product once DOL codifies the final rule.

• The key differentiator on "prudence" may be those 401(k) plan managers who tip-toe into privates, most likely via target-date funds, versus those who dive in headfirst.