1 00:00:07,720 --> 00:00:10,600 Speaker 1: Hi everyone, this is Lee Claskalwar We're Talking Transports. Welcome 2 00:00:10,640 --> 00:00:14,640 Speaker 1: to Bloomberg Intelligence Talking Transports podcast. I'm your host, Lee Klaskow, 3 00:00:14,800 --> 00:00:19,439 Speaker 1: Senior Freight transportation and Logistics analyst at Bloomberg Intelligence, Bloomberg's 4 00:00:19,440 --> 00:00:21,720 Speaker 1: in house research arm of almost five hundred analysts and 5 00:00:21,760 --> 00:00:25,520 Speaker 1: strategists around the globe. Before diving in a little public 6 00:00:25,560 --> 00:00:28,600 Speaker 1: service announcement, your support is instrumental to keep bring a 7 00:00:28,600 --> 00:00:32,040 Speaker 1: great guest and conversations to You are listeners, and we 8 00:00:32,120 --> 00:00:35,160 Speaker 1: do your support, So please, if you enjoy this podcast, 9 00:00:35,440 --> 00:00:37,360 Speaker 1: share it, like it, and leave a comment. 10 00:00:37,680 --> 00:00:38,880 Speaker 2: Also, if you have any. 11 00:00:38,760 --> 00:00:42,200 Speaker 1: Ideas for future episodes or just want to talk transports, 12 00:00:42,560 --> 00:00:45,280 Speaker 1: please hit me up on the Bloomberg terminal, on LinkedIn 13 00:00:45,440 --> 00:00:47,200 Speaker 1: or on Twitter at Logistics Lee. 14 00:00:47,440 --> 00:00:48,760 Speaker 2: Now on to our episode. 15 00:00:49,040 --> 00:00:51,680 Speaker 1: We're delighted to have Evan Shelley, the co founder and 16 00:00:51,760 --> 00:00:54,360 Speaker 1: CEO of The Truck Parking Club, as our guest on 17 00:00:54,400 --> 00:00:58,080 Speaker 1: today's podcast. The Truck Parking Club was founded in twenty 18 00:00:58,120 --> 00:01:02,600 Speaker 1: twenty two and provides parking for by monetizing vacant properties 19 00:01:02,600 --> 00:01:06,080 Speaker 1: for landowners. Evan is a truck parking expert with a 20 00:01:06,120 --> 00:01:09,440 Speaker 1: deep knowledge of the business. Using his experience in truck 21 00:01:09,480 --> 00:01:12,760 Speaker 1: parking and real estate. He's working to help solve the 22 00:01:12,800 --> 00:01:16,200 Speaker 1: truck parking shortage and bring awareness to the issue. So 23 00:01:16,319 --> 00:01:18,160 Speaker 1: welcome to the Talking Transport podcast. 24 00:01:18,160 --> 00:01:19,840 Speaker 3: Evan, thanks so much for having me. 25 00:01:20,440 --> 00:01:24,880 Speaker 1: So, you know, people might not realize that trucking for 26 00:01:25,040 --> 00:01:28,080 Speaker 1: versus should I say parking for truckers is not an 27 00:01:28,120 --> 00:01:28,600 Speaker 1: easy thing. 28 00:01:28,640 --> 00:01:30,800 Speaker 2: Can you talk about the shortage that's out there? 29 00:01:31,400 --> 00:01:35,240 Speaker 4: Yeah, so there's one space for every eleven trucks. That's 30 00:01:35,280 --> 00:01:39,360 Speaker 4: an ATA American Trucking Association stat And the average driver 31 00:01:39,400 --> 00:01:42,560 Speaker 4: spends fifty six minutes a day driving around looking for parking. 32 00:01:43,000 --> 00:01:45,240 Speaker 4: And when you think about that across you know, three 33 00:01:45,280 --> 00:01:49,480 Speaker 4: or four million drivers, that's billions of dollars of inefficiencies 34 00:01:49,520 --> 00:01:53,080 Speaker 4: that are created and also stressed that's created for drivers. 35 00:01:53,360 --> 00:01:55,320 Speaker 1: Right, And so it's not only it's a it's an 36 00:01:55,320 --> 00:01:58,800 Speaker 1: issue obviously, and it's an issue that Washington's trying to tackle. 37 00:01:58,880 --> 00:02:01,280 Speaker 1: Could you you know you're coming joining us live here 38 00:02:01,280 --> 00:02:05,000 Speaker 1: in New York and you're from a trip based in DC. 39 00:02:05,440 --> 00:02:07,920 Speaker 1: Could you talk about what's going on in Washington and 40 00:02:07,960 --> 00:02:12,520 Speaker 1: what I guess senators and legislators are trying to do 41 00:02:12,600 --> 00:02:13,880 Speaker 1: to tackle the problem. 42 00:02:14,080 --> 00:02:14,679 Speaker 3: Yeah, for sure. 43 00:02:14,720 --> 00:02:17,520 Speaker 4: So we actively participate in Days on the Hill with 44 00:02:17,600 --> 00:02:20,880 Speaker 4: various associations because of the truck parking issue. We're in 45 00:02:20,880 --> 00:02:25,720 Speaker 4: full support of taxpayer funded public parking because we believe 46 00:02:26,000 --> 00:02:29,320 Speaker 4: there's hundreds of thousands of spaces needed and there's a 47 00:02:29,360 --> 00:02:32,079 Speaker 4: billion or so in taxpayer funding, which is about ten 48 00:02:32,120 --> 00:02:35,040 Speaker 4: thousand spaces, and we think every little bit is going 49 00:02:35,120 --> 00:02:36,880 Speaker 4: to help with the issue. And at the end of 50 00:02:36,919 --> 00:02:39,200 Speaker 4: the day, we're in support of the broader issue. But 51 00:02:40,320 --> 00:02:44,200 Speaker 4: was at Capitol Hill yesterday and got to meet with 52 00:02:44,880 --> 00:02:50,600 Speaker 4: Mike Boss, Congressman Mike Boss, representative that sponsors the Truck 53 00:02:50,600 --> 00:02:54,120 Speaker 4: Parking Safety Improvement Act, which is pushing for hundreds of 54 00:02:54,120 --> 00:02:57,640 Speaker 4: millions of dollars in funding across all the states. 55 00:02:58,320 --> 00:03:02,359 Speaker 1: So I guess what kind of what's the genesis of 56 00:03:03,160 --> 00:03:04,760 Speaker 1: the Truck Parking Club? 57 00:03:04,840 --> 00:03:06,360 Speaker 2: Like, how did you come up with the idea? 58 00:03:07,520 --> 00:03:09,840 Speaker 1: I'm assuming you're not a truck driver by trade, but 59 00:03:10,160 --> 00:03:12,519 Speaker 1: I know you were in logistics in your past life, 60 00:03:12,560 --> 00:03:14,359 Speaker 1: So could you talk about, you know, how you came 61 00:03:14,440 --> 00:03:16,640 Speaker 1: up with the idea of the Truck Parking Club. 62 00:03:17,200 --> 00:03:20,160 Speaker 3: Yeah, so I was really focused on real estate. 63 00:03:20,480 --> 00:03:22,840 Speaker 4: I went to school for some engineering, then went out 64 00:03:22,880 --> 00:03:26,600 Speaker 4: and started doing general contracting, then site development, which led 65 00:03:26,639 --> 00:03:30,840 Speaker 4: me into getting into I'd always been interested in houses 66 00:03:30,880 --> 00:03:32,640 Speaker 4: and flipping houses, and I did that, and then I 67 00:03:32,639 --> 00:03:36,200 Speaker 4: started doing large scale land deals, and through doing those deals, 68 00:03:37,000 --> 00:03:39,400 Speaker 4: I came across an industrial a property that was zoned 69 00:03:39,400 --> 00:03:42,080 Speaker 4: industrial that I put under contract that I was interested 70 00:03:42,120 --> 00:03:45,080 Speaker 4: in doing a warehouse on. Ultimately, the site layout would 71 00:03:45,120 --> 00:03:46,960 Speaker 4: and work for a warehouse, so I started looking at 72 00:03:47,040 --> 00:03:49,360 Speaker 4: other ways to use the property because I had a decent. 73 00:03:49,160 --> 00:03:50,440 Speaker 3: Amount of capital invested in it. 74 00:03:51,240 --> 00:03:56,200 Speaker 4: And I started talking with brokers and other investors and 75 00:03:56,680 --> 00:03:58,280 Speaker 4: just trying to figure out what to do with it, 76 00:03:58,360 --> 00:04:01,320 Speaker 4: and everyone I just kept here truck parking over and over. 77 00:04:01,360 --> 00:04:02,440 Speaker 3: This is twenty twenty. 78 00:04:02,160 --> 00:04:06,040 Speaker 4: One, and you know the common what I would hear 79 00:04:06,120 --> 00:04:11,880 Speaker 4: is there needs to be more of it that ultimately 80 00:04:12,480 --> 00:04:13,560 Speaker 4: it's hard to build. 81 00:04:13,360 --> 00:04:13,840 Speaker 3: More of it. 82 00:04:14,160 --> 00:04:16,359 Speaker 4: And I thought, I came across this great parcel and 83 00:04:16,480 --> 00:04:18,880 Speaker 4: I was I was smarter than everyone else, right, So 84 00:04:19,120 --> 00:04:22,200 Speaker 4: I go to the municipality and I say, I want 85 00:04:22,200 --> 00:04:24,400 Speaker 4: to do truck parking here, and they go, well, even 86 00:04:24,440 --> 00:04:26,320 Speaker 4: though it's non industrial, you're not going to get support 87 00:04:26,320 --> 00:04:28,960 Speaker 4: from us, and we don't think you'll get support from 88 00:04:29,000 --> 00:04:30,120 Speaker 4: any of the surrounding parcels. 89 00:04:31,040 --> 00:04:33,719 Speaker 3: And it was then that the light bulb went off 90 00:04:33,720 --> 00:04:35,520 Speaker 3: on what is actually going on here? 91 00:04:35,600 --> 00:04:39,080 Speaker 4: Because I thought, you know, I was pretty good at 92 00:04:39,640 --> 00:04:43,839 Speaker 4: entitlements and getting property zoned properly, and I just got 93 00:04:43,839 --> 00:04:46,360 Speaker 4: I got shut down quite quickly. But then everyone's saying 94 00:04:46,360 --> 00:04:48,440 Speaker 4: it's a good investment. So it's like a classic supply 95 00:04:48,560 --> 00:04:51,279 Speaker 4: demand and balance, right, you don't have enough supply. The 96 00:04:51,320 --> 00:04:54,279 Speaker 4: demand is there continues to grow and it's really hard 97 00:04:54,279 --> 00:04:57,480 Speaker 4: to create more supply. So me being a real estate guy, 98 00:04:58,240 --> 00:05:00,440 Speaker 4: you know, I thought I was just going to be 99 00:05:00,560 --> 00:05:03,039 Speaker 4: smarter and go figure it out and buy and build 100 00:05:03,440 --> 00:05:06,239 Speaker 4: a bunch of truck parking. But ultimately, in twenty twenty 101 00:05:06,279 --> 00:05:09,880 Speaker 4: one into twenty twenty two, the numbers really didn't make sense. 102 00:05:10,600 --> 00:05:12,280 Speaker 4: Real estate was high. You know, we were in a 103 00:05:12,440 --> 00:05:15,960 Speaker 4: low interest rate time at the time, so real estate 104 00:05:15,960 --> 00:05:19,200 Speaker 4: was quite expensive. So ROI didn't make sense. So I 105 00:05:19,400 --> 00:05:23,200 Speaker 4: actually I raised some capital but never deployed any of it, fortunately, 106 00:05:23,960 --> 00:05:26,719 Speaker 4: and then started looking at other ways to be a 107 00:05:26,720 --> 00:05:28,720 Speaker 4: part of the solution to the issue. And I came 108 00:05:28,760 --> 00:05:31,960 Speaker 4: across marketplaces, and when I came across marketplaces, I'm like, 109 00:05:32,040 --> 00:05:34,640 Speaker 4: I think this could make a lot of sense for 110 00:05:34,839 --> 00:05:37,120 Speaker 4: being a part of the solution to this issue by 111 00:05:37,200 --> 00:05:41,880 Speaker 4: leveraging existing space. So we go into trucking companies, tow 112 00:05:41,920 --> 00:05:45,520 Speaker 4: truck companies, truck repair shops, warehouses, truck stops, any space 113 00:05:45,560 --> 00:05:47,920 Speaker 4: that's suitable for parking that they have extra parking, we 114 00:05:47,960 --> 00:05:51,000 Speaker 4: monetize it for them, and ultimately we've been able to 115 00:05:51,040 --> 00:05:53,679 Speaker 4: create tens of thousands of spaces through that model. 116 00:05:53,800 --> 00:05:55,839 Speaker 1: And can you talk a little bit about the economics 117 00:05:55,880 --> 00:05:59,840 Speaker 1: for the landowner, like how does it work, because it's 118 00:06:00,200 --> 00:06:02,080 Speaker 1: like an Airbnb for truck parking, right? 119 00:06:02,120 --> 00:06:02,920 Speaker 2: Is that fair to say? 120 00:06:03,040 --> 00:06:06,960 Speaker 4: Yeah, it's very similar, So very similar to an Airbnb 121 00:06:07,040 --> 00:06:09,520 Speaker 4: for truck parking. We take a cut of every booking. 122 00:06:09,680 --> 00:06:13,520 Speaker 4: The property owner gets the majority of every booking. Typically 123 00:06:13,560 --> 00:06:17,440 Speaker 4: you're going to see a seventy thirty split something around. 124 00:06:17,200 --> 00:06:20,240 Speaker 1: There, gotcha, and not many you know people listening to this, 125 00:06:20,360 --> 00:06:23,400 Speaker 1: why not realize? So when you when you're providing the 126 00:06:23,480 --> 00:06:25,280 Speaker 1: trucking parking. 127 00:06:24,960 --> 00:06:28,360 Speaker 2: Space, what is it? Is it just asphalt? Is there 128 00:06:28,360 --> 00:06:30,919 Speaker 2: a hook up? Like? What what is available? 129 00:06:31,040 --> 00:06:33,440 Speaker 1: Are there facilities or is there a bathroom or a shower? 130 00:06:33,560 --> 00:06:35,400 Speaker 1: Like what's available to the truck driver? 131 00:06:35,920 --> 00:06:40,480 Speaker 4: So we have one ninety two locations as of today, 132 00:06:41,040 --> 00:06:43,880 Speaker 4: and I can tell you every single location is unique, 133 00:06:44,120 --> 00:06:48,040 Speaker 4: right between the access points, between the pavement that's at 134 00:06:48,080 --> 00:06:51,720 Speaker 4: the property, between the level of security at the property, amenities. 135 00:06:51,800 --> 00:06:52,360 Speaker 3: Does it have. 136 00:06:52,320 --> 00:06:55,000 Speaker 4: Restrooms, does it have showers? We have some locations that 137 00:06:55,040 --> 00:06:57,920 Speaker 4: have free showers, some locations that have paid showers, some 138 00:06:57,960 --> 00:07:00,760 Speaker 4: locations that have no showers. You see a little bit 139 00:07:00,800 --> 00:07:05,760 Speaker 4: of everything. It's very AIRBNBESQ where every location is unique. 140 00:07:06,040 --> 00:07:08,080 Speaker 4: I think what we do is make sure that the 141 00:07:08,160 --> 00:07:11,880 Speaker 4: driver can can access to property easily, get safely parked 142 00:07:11,880 --> 00:07:14,240 Speaker 4: at the property, and exit the property. And that's the 143 00:07:14,280 --> 00:07:17,080 Speaker 4: minimum standard. And then from there, you know, the more 144 00:07:17,080 --> 00:07:21,120 Speaker 4: amenities you provide, the more you could make on the property. 145 00:07:21,200 --> 00:07:23,000 Speaker 1: And if a property owner wants to sign up, do 146 00:07:23,080 --> 00:07:25,280 Speaker 1: you guys go on site to check it out or like, 147 00:07:25,480 --> 00:07:26,960 Speaker 1: how do you vet the properties? 148 00:07:27,240 --> 00:07:29,640 Speaker 4: Yeah, so we have a very extensive vetting process that 149 00:07:29,680 --> 00:07:33,480 Speaker 4: we've created over vetting thousands, maybe tens of thousands of properties. 150 00:07:33,520 --> 00:07:34,280 Speaker 3: At this point. 151 00:07:34,720 --> 00:07:37,760 Speaker 4: It's proprietary, of course, but we know what we need 152 00:07:37,800 --> 00:07:39,920 Speaker 4: to look for at every single property and technology these 153 00:07:39,960 --> 00:07:42,120 Speaker 4: days you don't actually have to go on site. But 154 00:07:42,400 --> 00:07:45,600 Speaker 4: with that being said, we do have crews that are 155 00:07:45,760 --> 00:07:48,760 Speaker 4: all the time on the road going to each and 156 00:07:48,800 --> 00:07:53,160 Speaker 4: every site, vetting them, putting up free signage, doing drone 157 00:07:53,160 --> 00:07:57,440 Speaker 4: photos and aerials, making content at the sites, meeting with 158 00:07:57,520 --> 00:08:01,360 Speaker 4: the property. We call them property members, doing all the things. 159 00:08:01,120 --> 00:08:01,720 Speaker 3: We need to do. 160 00:08:01,800 --> 00:08:05,040 Speaker 4: Although we are a tech company, we still are boots 161 00:08:05,080 --> 00:08:06,200 Speaker 4: on the ground, right. 162 00:08:06,680 --> 00:08:09,320 Speaker 1: So are you guys talk a little bit about it. 163 00:08:09,320 --> 00:08:12,160 Speaker 1: I guess your ownership are you like VC funded or 164 00:08:12,160 --> 00:08:15,320 Speaker 1: are you self funded or private equity owned? What's what's 165 00:08:15,360 --> 00:08:16,640 Speaker 1: the ownership of the company. 166 00:08:16,760 --> 00:08:20,160 Speaker 4: Yeah, so at this point, I'm the majority owner of 167 00:08:20,200 --> 00:08:23,680 Speaker 4: the company. We have raised around eight million dollars to date, 168 00:08:24,160 --> 00:08:28,080 Speaker 4: all through private capital. We have not went out and 169 00:08:28,320 --> 00:08:31,000 Speaker 4: raised anything from vcs at this point. Although we've talked 170 00:08:31,040 --> 00:08:34,200 Speaker 4: with vcs, we have not raised anything from vcs at 171 00:08:34,200 --> 00:08:37,480 Speaker 4: this point. We just go to very successful founders and 172 00:08:38,000 --> 00:08:40,400 Speaker 4: raised capital from them and that's that's been the right 173 00:08:40,480 --> 00:08:41,360 Speaker 4: route for us so far. 174 00:08:41,480 --> 00:08:43,320 Speaker 1: And can you talk about the scaling because you know, 175 00:08:43,360 --> 00:08:46,400 Speaker 1: as I mentioned earlier, you were founded in twenty twenty 176 00:08:46,400 --> 00:08:49,800 Speaker 1: two and I think you said you have just under 177 00:08:49,840 --> 00:08:54,760 Speaker 1: two thousand properties, So how fast are you growing? What's 178 00:08:54,840 --> 00:08:58,079 Speaker 1: the right growth rate? Where how many properties. 179 00:08:57,720 --> 00:08:58,920 Speaker 2: Is like scale. 180 00:08:59,760 --> 00:09:00,520 Speaker 3: Yeah, so. 181 00:09:02,000 --> 00:09:05,560 Speaker 4: We add eight to ten properties per day right now. 182 00:09:06,400 --> 00:09:08,440 Speaker 4: We believe we can get much much higher than that. 183 00:09:08,480 --> 00:09:10,760 Speaker 4: We have an amazing chief sales officer that's built out 184 00:09:11,080 --> 00:09:13,560 Speaker 4: our property team. We call them on boarding specialists, and 185 00:09:13,920 --> 00:09:16,240 Speaker 4: there's a lot of things that goes into this, actually 186 00:09:16,280 --> 00:09:19,280 Speaker 4: vetting the properties and making sure that trucker members that 187 00:09:19,280 --> 00:09:22,080 Speaker 4: book there have a great experience. But have an amazing 188 00:09:22,160 --> 00:09:26,400 Speaker 4: chief sales officer, Chris that is growing out that team, 189 00:09:26,480 --> 00:09:28,839 Speaker 4: and we expect to be at ten thousand locations in 190 00:09:28,840 --> 00:09:29,800 Speaker 4: the next twenty months. 191 00:09:30,000 --> 00:09:34,200 Speaker 1: Twenty months and thousand. Wow, and how many? I guess 192 00:09:34,200 --> 00:09:35,560 Speaker 1: how many truckers do you have? 193 00:09:35,679 --> 00:09:37,480 Speaker 2: Like on your app? 194 00:09:37,920 --> 00:09:39,760 Speaker 1: Do you track it by the number of I guess 195 00:09:39,800 --> 00:09:40,720 Speaker 1: log in and IDs? 196 00:09:40,760 --> 00:09:42,040 Speaker 2: And I guess with that? 197 00:09:42,679 --> 00:09:44,840 Speaker 1: What is your who is your typical customer? Is it 198 00:09:44,840 --> 00:09:47,640 Speaker 1: the owner operator? Or is it the super large fleet 199 00:09:47,960 --> 00:09:51,040 Speaker 1: or everything in between? Where do you Is there a 200 00:09:51,040 --> 00:09:52,559 Speaker 1: sweet spot for you guys? 201 00:09:53,080 --> 00:09:55,520 Speaker 4: Yeah, So we don't give away exact numbers, but I 202 00:09:55,520 --> 00:09:58,400 Speaker 4: can say we have tens of thousands of drivers actively 203 00:09:58,400 --> 00:10:00,760 Speaker 4: finding and reserving parking on our app. We're not to 204 00:10:00,840 --> 00:10:03,400 Speaker 4: hundreds of thousands of yet, but we have hundreds of 205 00:10:03,400 --> 00:10:06,240 Speaker 4: thousands of pieces of equipment that have been booked on 206 00:10:06,280 --> 00:10:06,760 Speaker 4: our app. 207 00:10:07,120 --> 00:10:10,640 Speaker 3: At this point, it's made up. 208 00:10:10,520 --> 00:10:12,480 Speaker 4: Of Actually it stays at about a fifty to fifty 209 00:10:12,520 --> 00:10:16,360 Speaker 4: split between owner operators and company drivers. It's been consistently 210 00:10:16,440 --> 00:10:21,320 Speaker 4: that where owner operators love using US to be more 211 00:10:21,360 --> 00:10:25,480 Speaker 4: productive with their lanes and running new lanes because we 212 00:10:25,520 --> 00:10:29,200 Speaker 4: have capacity parking capacity in places that they normally wouldn't go. 213 00:10:29,720 --> 00:10:32,000 Speaker 4: So we see that a lot, and we also see 214 00:10:32,000 --> 00:10:36,320 Speaker 4: that carriers are adopting paying for parking for their drivers. 215 00:10:36,320 --> 00:10:38,480 Speaker 4: More that, we have a very easy to use app 216 00:10:38,720 --> 00:10:44,160 Speaker 4: accounting reporting structure, user sub user structure that makes it 217 00:10:44,280 --> 00:10:47,280 Speaker 4: very easy for carriers to use US now and make 218 00:10:47,320 --> 00:10:53,400 Speaker 4: their drivers raise retention, make them more productive, lower stress. 219 00:10:53,559 --> 00:10:54,520 Speaker 3: On a daily basis. 220 00:10:54,520 --> 00:10:56,480 Speaker 4: So we see about a fifty to fifty split. 221 00:10:56,720 --> 00:11:00,319 Speaker 1: So the large publicly traded companies are users of of the. 222 00:11:00,240 --> 00:11:04,280 Speaker 4: Platform sixty the top one hundred carriers have used US 223 00:11:04,320 --> 00:11:08,720 Speaker 4: to date, but their drivers have used US and typically 224 00:11:08,840 --> 00:11:11,040 Speaker 4: hundreds of their drivers have used US at each of 225 00:11:11,080 --> 00:11:12,720 Speaker 4: the each of the companies. 226 00:11:12,800 --> 00:11:14,920 Speaker 1: Besides scale, what else can you guys do to make 227 00:11:14,960 --> 00:11:19,400 Speaker 1: the platform more inviting to whether it's property owners or 228 00:11:20,040 --> 00:11:21,680 Speaker 1: the drivers out there. 229 00:11:22,000 --> 00:11:23,320 Speaker 3: Yeah, I think scale really leads. 230 00:11:23,360 --> 00:11:27,080 Speaker 4: It is the biggest driving factor because the more locations 231 00:11:27,120 --> 00:11:28,960 Speaker 4: you have, the more options you have, the more productive 232 00:11:29,000 --> 00:11:32,680 Speaker 4: you can be, the less stress a driver has, the 233 00:11:32,720 --> 00:11:34,360 Speaker 4: easier it is for them to find parking on a 234 00:11:34,440 --> 00:11:38,280 Speaker 4: daily basis. But also I think, you know, we're kind 235 00:11:38,320 --> 00:11:41,080 Speaker 4: of naturally going into building out a bunch of enterprise 236 00:11:41,120 --> 00:11:45,440 Speaker 4: tools that these large carriers want, and I think that 237 00:11:45,480 --> 00:11:46,280 Speaker 4: will be part. 238 00:11:46,040 --> 00:11:50,040 Speaker 3: Of it as well. But and just continuing to make the. 239 00:11:49,960 --> 00:11:53,000 Speaker 4: Product easier to use, which we fortunately get a lot 240 00:11:53,040 --> 00:11:57,760 Speaker 4: of compliments on how easy the app is. But I 241 00:11:57,960 --> 00:12:00,640 Speaker 4: would say scale, I know you didn't on that answer, 242 00:12:00,679 --> 00:12:04,320 Speaker 4: but that is internally, that is what we talk about 243 00:12:04,360 --> 00:12:08,640 Speaker 4: a lot, because it really is, you know, having open 244 00:12:08,679 --> 00:12:12,120 Speaker 4: capacity for a driver. Our goal is to have to 245 00:12:12,200 --> 00:12:14,960 Speaker 4: always have a location within ten minutes of a driver. 246 00:12:15,800 --> 00:12:17,960 Speaker 4: Right now, they spend fifty six minutes driving around looking 247 00:12:17,960 --> 00:12:22,920 Speaker 4: for parking. Staff in office staff spend hours a day 248 00:12:22,960 --> 00:12:25,920 Speaker 4: looking for parking for their drivers, you know, fleet managers, dispatchers. 249 00:12:26,200 --> 00:12:28,000 Speaker 4: We're trying to get all them down to ten minutes 250 00:12:28,080 --> 00:12:31,160 Speaker 4: or less. And we're seeing results like that now with 251 00:12:31,600 --> 00:12:32,480 Speaker 4: carriers and drivers. 252 00:12:32,480 --> 00:12:35,079 Speaker 1: And when you're adding these these eight to ten new 253 00:12:35,120 --> 00:12:39,480 Speaker 1: properties a day. Is most of the editions property owners 254 00:12:39,520 --> 00:12:42,360 Speaker 1: coming to you. Are you guys going out and trying 255 00:12:42,400 --> 00:12:43,680 Speaker 1: to find these properties? 256 00:12:44,200 --> 00:12:47,640 Speaker 4: It's all inbound. Yeah, we have no outbound sales motion 257 00:12:48,080 --> 00:12:48,720 Speaker 4: at the moment. 258 00:12:50,040 --> 00:12:50,199 Speaker 3: Now. 259 00:12:50,240 --> 00:12:52,520 Speaker 4: We do go to truck shows, we go to events 260 00:12:52,920 --> 00:12:55,439 Speaker 4: and things of that nature, but we have no salesperson 261 00:12:55,480 --> 00:12:59,000 Speaker 4: that's sitting on a phone outbound calling. We're just very 262 00:12:59,000 --> 00:13:01,160 Speaker 4: active on social media, where it kind of. 263 00:13:01,080 --> 00:13:01,840 Speaker 2: Where certainly are. 264 00:13:02,840 --> 00:13:05,480 Speaker 4: Yeah, we're very active in the industry in general and 265 00:13:06,120 --> 00:13:08,000 Speaker 4: just getting our brand out there and making sure that 266 00:13:08,040 --> 00:13:10,960 Speaker 4: we deliver great experiences and word of mouth growing that way, 267 00:13:11,040 --> 00:13:12,680 Speaker 4: and that's served us quite well. 268 00:13:12,840 --> 00:13:13,720 Speaker 2: Yeah. Yeah. 269 00:13:13,760 --> 00:13:15,719 Speaker 1: I think I came across you guys about a year 270 00:13:15,720 --> 00:13:18,000 Speaker 1: ago at some sort of trade show and I was like, oh, 271 00:13:18,000 --> 00:13:20,959 Speaker 1: this is a pretty cool, pretty cool idea. I'm glad 272 00:13:21,000 --> 00:13:23,520 Speaker 1: to have you on the podcast. Could you talk a 273 00:13:23,559 --> 00:13:26,160 Speaker 1: little bit about you know, I know what a hotel 274 00:13:26,200 --> 00:13:29,360 Speaker 1: costs in New York, but like what is a parking 275 00:13:29,400 --> 00:13:32,080 Speaker 1: spot cost. I'm sure it depends on the amenities and 276 00:13:32,120 --> 00:13:35,880 Speaker 1: the location, but like just generally speaking, yeah, it varies 277 00:13:35,960 --> 00:13:39,400 Speaker 1: very widely by market, but across the entire platform. 278 00:13:39,400 --> 00:13:42,800 Speaker 4: If we're speaking on daily it's about twenty dollars. Across 279 00:13:42,840 --> 00:13:45,400 Speaker 4: all the bookings we've ever had, it sits at about twenty. 280 00:13:45,920 --> 00:13:51,520 Speaker 4: But you can get into you know, Newark or southern California, 281 00:13:51,720 --> 00:13:54,920 Speaker 4: Long Beach, and you're looking at anywhere fifty. 282 00:13:54,720 --> 00:13:56,439 Speaker 1: To one hundred dollars a day. 283 00:13:57,080 --> 00:14:00,960 Speaker 4: But when you consider maybe that driver had to drive 284 00:14:01,000 --> 00:14:03,040 Speaker 4: an hour out of his way if he didn't want 285 00:14:03,080 --> 00:14:06,280 Speaker 4: to park, you know, in New York or in Long Beach, 286 00:14:06,400 --> 00:14:09,040 Speaker 4: he had to drive out to Ontario or city of Industry. 287 00:14:10,120 --> 00:14:12,800 Speaker 4: That costs a lot of money to do that, and 288 00:14:12,840 --> 00:14:15,319 Speaker 4: it's actually makes sense to pay, you know, fifty hundred 289 00:14:15,360 --> 00:14:16,360 Speaker 4: dollars for that spot. 290 00:14:17,160 --> 00:14:19,400 Speaker 1: You know, in the beginning of the conversation, you talked about, 291 00:14:19,480 --> 00:14:21,840 Speaker 1: you know, the the the the amount of time that 292 00:14:21,840 --> 00:14:25,880 Speaker 1: truckers spend the shortage, and so a lot of truckers 293 00:14:25,920 --> 00:14:27,680 Speaker 1: are kind of forced to, you know, park on the 294 00:14:27,720 --> 00:14:30,040 Speaker 1: side of the road, sometimes illegally. 295 00:14:30,520 --> 00:14:32,320 Speaker 2: Can you talk about some of the. 296 00:14:32,200 --> 00:14:36,720 Speaker 1: Maybe guess the dangers of you know, the dangers of 297 00:14:36,920 --> 00:14:39,960 Speaker 1: the shortage of available parking for truckers. 298 00:14:40,680 --> 00:14:44,480 Speaker 4: Yeah, so, I'm sure you know everyone's seen at this 299 00:14:44,600 --> 00:14:47,240 Speaker 4: point a common question I asked people just in generally 300 00:14:47,280 --> 00:14:50,080 Speaker 4: is have you ever seen a semi truck parked on 301 00:14:50,160 --> 00:14:52,640 Speaker 4: the shoulder of an interstay on the on ramp, on 302 00:14:52,680 --> 00:14:54,840 Speaker 4: the off ramp, And the common answers, yes, I've seen that. 303 00:14:54,880 --> 00:14:58,560 Speaker 4: I don't know why they're doing that, but I've seen that. Ultimately, 304 00:14:58,640 --> 00:15:03,960 Speaker 4: that in dangers the driver, that endangers civilians pedestrians that 305 00:15:04,000 --> 00:15:07,320 Speaker 4: are driving past that. It you know, puts the carrier 306 00:15:07,520 --> 00:15:15,720 Speaker 4: at risk for nuclear verdicts. Ultimately, not having a legal, safe, 307 00:15:16,000 --> 00:15:22,360 Speaker 4: suitable place to park leads to a lot of consequences, 308 00:15:22,680 --> 00:15:27,360 Speaker 4: and so ultimately getting them into suitable places I think 309 00:15:27,480 --> 00:15:32,239 Speaker 4: makes a world of difference, and not only legal, safe, suitable, 310 00:15:32,560 --> 00:15:36,840 Speaker 4: but productivity in general because if that driver can you know, 311 00:15:36,920 --> 00:15:40,920 Speaker 4: commonly drivers I hear from carriers that their driver drive 312 00:15:41,000 --> 00:15:43,960 Speaker 4: eight or nine hours out of the eleven available out 313 00:15:43,920 --> 00:15:47,400 Speaker 4: of a fourteen hour period, right, and imagine an hour 314 00:15:47,520 --> 00:15:51,560 Speaker 4: further per day per driver. You know, even if you 315 00:15:51,600 --> 00:15:54,040 Speaker 4: have to pay twenty dollars for that spot, it's going 316 00:15:54,120 --> 00:15:56,360 Speaker 4: to pay you back quite nicely and make your drivers 317 00:15:56,400 --> 00:16:01,280 Speaker 4: more productive and hopefully raise retention amongst the drivers because 318 00:16:01,320 --> 00:16:02,560 Speaker 4: you're going to reduce stress. 319 00:16:02,920 --> 00:16:05,960 Speaker 1: Yeah, absolutely, and you know when you're when you're talking 320 00:16:05,960 --> 00:16:08,480 Speaker 1: about its taking, you know, fifty five minutes to find 321 00:16:08,480 --> 00:16:09,280 Speaker 1: a parking spot. 322 00:16:09,320 --> 00:16:11,640 Speaker 2: I mean that takes away from their hours of service. 323 00:16:11,760 --> 00:16:14,800 Speaker 1: And obviously, you know, truckers, they make their money by 324 00:16:14,840 --> 00:16:18,880 Speaker 1: the mile, So if they're not driving for for pay, 325 00:16:18,920 --> 00:16:19,880 Speaker 1: then they're they're. 326 00:16:19,680 --> 00:16:21,280 Speaker 2: Not making making money. 327 00:16:22,280 --> 00:16:24,840 Speaker 1: So are there regions in the country where you guys 328 00:16:24,840 --> 00:16:27,400 Speaker 1: are more concentrated right now? 329 00:16:27,400 --> 00:16:28,880 Speaker 2: On the platform? 330 00:16:29,000 --> 00:16:33,320 Speaker 4: So we're in forty eight states now, but we're definitely 331 00:16:33,360 --> 00:16:36,360 Speaker 4: less dense in North Dakota than we are in Georgia. 332 00:16:36,920 --> 00:16:41,720 Speaker 4: I would say we're pretty dense in the southeast. We 333 00:16:41,760 --> 00:16:45,560 Speaker 4: are becoming pretty dense in southern California. We are becoming 334 00:16:45,640 --> 00:16:47,840 Speaker 4: more dense in the northeast. But with that being said, 335 00:16:47,840 --> 00:16:49,800 Speaker 4: are you know our golden goal in the next twenty 336 00:16:49,840 --> 00:16:52,640 Speaker 4: months is to get to over ten thousand locations, So 337 00:16:53,720 --> 00:16:56,640 Speaker 4: we want to be we want to have more locations everywhere, 338 00:16:57,320 --> 00:16:59,680 Speaker 4: But I would say the southeast is probably where we're 339 00:16:59,680 --> 00:17:00,680 Speaker 4: most ends today. 340 00:17:00,840 --> 00:17:04,719 Speaker 1: Does that include like Canada or Mexico or that that's 341 00:17:04,760 --> 00:17:08,040 Speaker 1: those are regions you're not looking to go into quite yet. 342 00:17:08,520 --> 00:17:12,080 Speaker 4: So request for Canada is almost on a daily basis 343 00:17:12,119 --> 00:17:15,919 Speaker 4: at this point. Drivers that are up there say it 344 00:17:16,000 --> 00:17:18,920 Speaker 4: is quite a problem, although it maybe is a little 345 00:17:18,920 --> 00:17:22,520 Speaker 4: bit different in the problem that that is there. But 346 00:17:23,520 --> 00:17:26,760 Speaker 4: there are certain areas of Canada where from what I'm hearing, 347 00:17:26,800 --> 00:17:30,760 Speaker 4: I'm not well versed on it. At this point, you 348 00:17:30,840 --> 00:17:36,320 Speaker 4: just can't find any parking. It's just madness. So we 349 00:17:37,080 --> 00:17:40,120 Speaker 4: are looking at Canada. We have a lot of work 350 00:17:40,200 --> 00:17:43,320 Speaker 4: left in the US, right, so we're very focused on 351 00:17:43,359 --> 00:17:45,560 Speaker 4: the US, and then Mexico's coming up more and more, 352 00:17:46,320 --> 00:17:48,640 Speaker 4: which I think, you know, as you can imagine, has 353 00:17:48,680 --> 00:17:51,960 Speaker 4: a lot of complexity to how you even approach that. 354 00:17:52,320 --> 00:17:53,600 Speaker 3: No one's ever done it. 355 00:17:53,560 --> 00:17:57,399 Speaker 4: Really, But there are locals that we meet out and 356 00:17:57,440 --> 00:17:59,920 Speaker 4: about at shows and stuff that that say that they 357 00:18:00,080 --> 00:18:03,639 Speaker 4: they would love to work with us. So I'm not 358 00:18:03,680 --> 00:18:06,600 Speaker 4: saying never. I am saying I think it is going 359 00:18:06,680 --> 00:18:10,479 Speaker 4: to be complex to get into the you know, Central 360 00:18:10,480 --> 00:18:14,920 Speaker 4: America Mexico market, and we're going to be very cautious 361 00:18:14,920 --> 00:18:15,679 Speaker 4: before we do so. 362 00:18:16,240 --> 00:18:18,480 Speaker 1: And when you look at your platform, does it tell 363 00:18:18,480 --> 00:18:21,600 Speaker 1: you anything about like the state of the trucking market? 364 00:18:21,720 --> 00:18:24,280 Speaker 1: I mean, do you do you get any readthroughs by 365 00:18:24,400 --> 00:18:25,600 Speaker 1: the data that you see? 366 00:18:26,560 --> 00:18:30,480 Speaker 4: Yeah, that's a great question. So what is super interesting? 367 00:18:30,720 --> 00:18:34,200 Speaker 4: We do have a ton of data about parking and 368 00:18:34,440 --> 00:18:38,600 Speaker 4: you know where vehicles are, a piece of equipment are 369 00:18:39,040 --> 00:18:43,600 Speaker 4: at certain times, and you can watch the movement of 370 00:18:43,800 --> 00:18:46,840 Speaker 4: parking go across the US like a think of like 371 00:18:46,880 --> 00:18:50,520 Speaker 4: a heat map, and we can watch it move. I 372 00:18:50,520 --> 00:18:53,760 Speaker 4: think it is still to be determined on you know, 373 00:18:54,200 --> 00:18:56,080 Speaker 4: you think, well, maybe that's just where the freate's going, 374 00:18:56,080 --> 00:18:57,840 Speaker 4: but I think it is a little bit more complex 375 00:18:57,880 --> 00:18:59,920 Speaker 4: than that. But we're starting to layer data and really 376 00:19:00,080 --> 00:19:03,159 Speaker 4: look at why is Newark on fire right now? 377 00:19:03,320 --> 00:19:05,160 Speaker 3: Is it the port? Is it something else? 378 00:19:06,320 --> 00:19:09,480 Speaker 4: And then two weeks later Atlanta's Atlanta's on fire and 379 00:19:09,520 --> 00:19:13,879 Speaker 4: we're seeing a lot of demand there and just watching 380 00:19:13,920 --> 00:19:16,399 Speaker 4: the kind of that heat map shift across the US. 381 00:19:17,480 --> 00:19:20,159 Speaker 4: We're constantly setting that data to see what insights we 382 00:19:20,200 --> 00:19:23,800 Speaker 4: can get. I think there's a lot of value in 383 00:19:23,920 --> 00:19:26,280 Speaker 4: that data and we do have a lot of it 384 00:19:26,960 --> 00:19:29,520 Speaker 4: now that we have tens of thousands of drivers. 385 00:19:29,520 --> 00:19:32,000 Speaker 1: Right And do you have any statistics or metrics in 386 00:19:32,080 --> 00:19:35,679 Speaker 1: terms of like repeat business from from the from the 387 00:19:35,760 --> 00:19:37,000 Speaker 1: drivers that are on the system. 388 00:19:37,400 --> 00:19:39,840 Speaker 4: Yeah, So across our what we call P two P 389 00:19:40,160 --> 00:19:44,560 Speaker 4: airbnb style users, we're at around fifty percent today, which 390 00:19:44,600 --> 00:19:47,479 Speaker 4: we're pretty proud of because you know, not so long 391 00:19:47,560 --> 00:19:50,119 Speaker 4: ago it was it was less than that. But it 392 00:19:50,320 --> 00:19:53,560 Speaker 4: just continues up, trend nicely up into the right every 393 00:19:53,560 --> 00:19:57,080 Speaker 4: single month, month over month, which I think goes to 394 00:19:57,160 --> 00:20:00,680 Speaker 4: show the experience that we delivered a driver that they're 395 00:20:00,920 --> 00:20:03,560 Speaker 4: they're willing to come back and keep trying us. And 396 00:20:03,640 --> 00:20:07,399 Speaker 4: we commonly see that, you know, drivers are using us 397 00:20:07,400 --> 00:20:10,240 Speaker 4: five six, seven times in just the last little bit. 398 00:20:10,359 --> 00:20:13,439 Speaker 4: It's them finding out about us than us delivering a 399 00:20:13,440 --> 00:20:15,880 Speaker 4: great experience, and they just continue to come back over 400 00:20:15,920 --> 00:20:16,240 Speaker 4: and over. 401 00:20:16,400 --> 00:20:20,119 Speaker 1: Our drivers asking for any more services on the app. 402 00:20:21,240 --> 00:20:25,000 Speaker 4: You know, repairs is something that's requested constantly. What we 403 00:20:25,119 --> 00:20:28,760 Speaker 4: do today is we allow the property owner, let's say 404 00:20:28,760 --> 00:20:30,440 Speaker 4: it's a truck repair shop, we just allow them to 405 00:20:30,480 --> 00:20:33,879 Speaker 4: advertise it on the on the app. At this point, 406 00:20:34,680 --> 00:20:38,800 Speaker 4: I do think it's it would We're not focused on it, 407 00:20:38,880 --> 00:20:41,080 Speaker 4: but I do think at some point we will either 408 00:20:41,160 --> 00:20:44,560 Speaker 4: partner or do it ourselves in the sense of, hey, 409 00:20:44,560 --> 00:20:47,280 Speaker 4: for another one hundred dollars, you can get X right, 410 00:20:47,320 --> 00:20:49,760 Speaker 4: and it's just a tack on at the booking, like 411 00:20:49,800 --> 00:20:53,560 Speaker 4: this is a verified repair shop by us. Tack on 412 00:20:53,600 --> 00:20:58,080 Speaker 4: this booking for one hundred dollars and maybe get your 413 00:20:58,080 --> 00:21:01,680 Speaker 4: parking free, or your parking twenty dollars, so your totals 414 00:21:01,680 --> 00:21:03,960 Speaker 4: one hundred and twenty dollars and it'll be done, you know, 415 00:21:04,000 --> 00:21:06,480 Speaker 4: in twenty four hours or whatever. I think there's a 416 00:21:06,480 --> 00:21:09,080 Speaker 4: pretty natural approach to that. And we get asked by 417 00:21:09,200 --> 00:21:12,439 Speaker 4: the truck repair shops and some trucking companies because they 418 00:21:12,600 --> 00:21:16,680 Speaker 4: a lot of them do their own services, and it's 419 00:21:16,680 --> 00:21:19,399 Speaker 4: definitely something on our mind. But I think it's my 420 00:21:19,560 --> 00:21:24,040 Speaker 4: job as the CEO to say, but let's focus on 421 00:21:24,280 --> 00:21:27,960 Speaker 4: the main goal and get to liquidity what you'd call 422 00:21:28,000 --> 00:21:31,000 Speaker 4: liquidity in a marketplace, and then once we're there, I 423 00:21:31,000 --> 00:21:32,600 Speaker 4: think there's a lot of cool things we can do. 424 00:21:33,000 --> 00:21:35,280 Speaker 1: Can you talk about the relationships you have with like 425 00:21:35,320 --> 00:21:37,720 Speaker 1: the large truck stops that are out. 426 00:21:37,600 --> 00:21:41,359 Speaker 4: There, Yeah, so todate, we do work with some of 427 00:21:41,440 --> 00:21:45,760 Speaker 4: the dealer locations. I was actually just talking with DeBie Baffa, 428 00:21:46,600 --> 00:21:49,800 Speaker 4: CEO of TA last night. We do some business with them, 429 00:21:50,320 --> 00:21:57,199 Speaker 4: monetizing some of their extra space. And we've communicated or 430 00:21:57,200 --> 00:21:59,520 Speaker 4: are working on partnerships with a lot of the truck 431 00:21:59,560 --> 00:22:02,920 Speaker 4: stops in various ways, not always the obvious ways that 432 00:22:04,560 --> 00:22:07,600 Speaker 4: maybe you would think. I mean, at the end of 433 00:22:07,640 --> 00:22:09,440 Speaker 4: the day, none of the truck stops have enough parking 434 00:22:09,480 --> 00:22:11,560 Speaker 4: for their customers, right, which is kind of crazy to 435 00:22:11,560 --> 00:22:15,720 Speaker 4: think about. We have more parking, so think about additional 436 00:22:15,720 --> 00:22:19,640 Speaker 4: capacity for the major truck stops to help them satisfy 437 00:22:19,680 --> 00:22:23,959 Speaker 4: their customers better because we have this extra space, you know, 438 00:22:24,080 --> 00:22:29,760 Speaker 4: ideally right next door. So helping them help their customer. 439 00:22:29,920 --> 00:22:32,040 Speaker 4: That's in a place of hey, I just bought seventy 440 00:22:32,040 --> 00:22:34,480 Speaker 4: five gallons of fuel with you. You have no parking spaces. 441 00:22:35,000 --> 00:22:38,159 Speaker 4: Oh okay, we can work with Truck Parking Club on that. 442 00:22:38,280 --> 00:22:41,560 Speaker 4: So that's it at a high level. You know, some 443 00:22:41,640 --> 00:22:44,920 Speaker 4: of the things we're talking about with various truck stops. 444 00:22:45,119 --> 00:22:48,720 Speaker 4: We're also monetizing some of their parking spots, not in 445 00:22:48,720 --> 00:22:51,720 Speaker 4: any huge way at this point, but I think the 446 00:22:51,800 --> 00:22:55,080 Speaker 4: former partnership is what we think is super exciting. 447 00:22:55,320 --> 00:22:57,359 Speaker 1: And I'm assuming most of the drivers that use your 448 00:22:58,400 --> 00:23:01,960 Speaker 1: app and website there they're just staying there for the 449 00:23:02,040 --> 00:23:04,240 Speaker 1: night or for a couple for a certain amount hours 450 00:23:04,240 --> 00:23:05,040 Speaker 1: while they rest. 451 00:23:05,400 --> 00:23:06,520 Speaker 2: Do they do they. 452 00:23:06,440 --> 00:23:09,040 Speaker 1: Like park their truck there for maybe like more than 453 00:23:09,080 --> 00:23:13,240 Speaker 1: a day sometimes like if they're I don't know, they 454 00:23:13,240 --> 00:23:15,440 Speaker 1: need to go do something, or like you know, I 455 00:23:15,480 --> 00:23:17,159 Speaker 1: don't even know what the LI scenario would be. 456 00:23:17,200 --> 00:23:19,080 Speaker 4: It's a great no, it's a great question because we're 457 00:23:19,440 --> 00:23:21,719 Speaker 4: known for the overnight parking, you know, we we do 458 00:23:21,800 --> 00:23:24,159 Speaker 4: talk a lot about helping with the truck parking shortage 459 00:23:24,200 --> 00:23:25,960 Speaker 4: and things of that nature, but there's there's a huge 460 00:23:25,960 --> 00:23:29,399 Speaker 4: shortage in multi day parking, weekly parking, and monthly parking 461 00:23:29,400 --> 00:23:30,920 Speaker 4: as well, and awareness thereof. 462 00:23:31,880 --> 00:23:32,440 Speaker 3: So we do. 463 00:23:32,440 --> 00:23:35,359 Speaker 4: Hourly, daily, weekly, monthly on our platform. I think our 464 00:23:35,359 --> 00:23:38,440 Speaker 4: average rations stay is two or three days actually, which 465 00:23:38,520 --> 00:23:42,320 Speaker 4: is not you know what you would think. I think 466 00:23:42,320 --> 00:23:44,919 Speaker 4: the average person would think we were doing all overnight. 467 00:23:45,280 --> 00:23:48,159 Speaker 4: We do a ton of overnight, but we also do 468 00:23:48,200 --> 00:23:50,160 Speaker 4: a lot of multi day, we do a lot of weekly, 469 00:23:50,480 --> 00:23:53,480 Speaker 4: and we do a lot of monthly as well. You know, 470 00:23:53,560 --> 00:23:56,280 Speaker 4: for local guys. You know, some of these local guys 471 00:23:56,680 --> 00:23:58,120 Speaker 4: like me, I grew up in the middle of nowhere 472 00:23:58,119 --> 00:24:00,240 Speaker 4: in Kentucky. There's a lot of drivers that live around 473 00:24:00,240 --> 00:24:03,240 Speaker 4: there and there aren't a lot of known options for parking. 474 00:24:03,640 --> 00:24:06,240 Speaker 4: Even though it's rule, it doesn't mean you can just 475 00:24:06,280 --> 00:24:12,160 Speaker 4: go park in any lot. You'll get boted, booted, towed, fined. 476 00:24:14,080 --> 00:24:17,159 Speaker 4: But we can go into these local markets as well 477 00:24:17,680 --> 00:24:21,800 Speaker 4: create brand new areas for drivers to be able to 478 00:24:21,800 --> 00:24:23,720 Speaker 4: park when they're at home for the weekend or a 479 00:24:23,760 --> 00:24:27,080 Speaker 4: week or whatever. So we found that that's been an 480 00:24:27,119 --> 00:24:30,160 Speaker 4: interesting part of the business that I never honestly really 481 00:24:30,200 --> 00:24:33,040 Speaker 4: thought of. But drivers are ectatic because maybe they were 482 00:24:33,080 --> 00:24:35,760 Speaker 4: having to drive forty five minutes from where they were 483 00:24:35,760 --> 00:24:41,320 Speaker 4: parking to get home, just three days later, drive back 484 00:24:41,359 --> 00:24:43,680 Speaker 4: forty five minutes and go back out on the road. 485 00:24:44,160 --> 00:24:46,639 Speaker 4: So that's been an interesting part of the business. And 486 00:24:46,680 --> 00:24:48,960 Speaker 4: then just to add on top of that, just trailer 487 00:24:49,040 --> 00:24:54,239 Speaker 4: placement in general, especially for mid sized carriers where they 488 00:24:54,280 --> 00:24:57,000 Speaker 4: may have one hundred, two hundred, three hundred, five hundred trailers, 489 00:24:57,080 --> 00:25:00,639 Speaker 4: maybe a couple of thousand trailers. Placing those trailers across 490 00:25:00,640 --> 00:25:03,080 Speaker 4: the US has been a very interesting business that I 491 00:25:03,240 --> 00:25:04,520 Speaker 4: never really thought. 492 00:25:04,280 --> 00:25:06,040 Speaker 1: Of, Right, I was going to ask about the drop 493 00:25:06,040 --> 00:25:09,240 Speaker 1: and hook like trailers. So you're doing you do do 494 00:25:09,280 --> 00:25:11,359 Speaker 1: a lot of business, if not necessarily a truck, you're 495 00:25:11,359 --> 00:25:12,600 Speaker 1: storing trailers as well. 496 00:25:12,920 --> 00:25:15,639 Speaker 4: Yeah, yeah, So it's it's become a big part of 497 00:25:15,640 --> 00:25:18,960 Speaker 4: the business just naturally. You know, we created a fully 498 00:25:18,960 --> 00:25:22,399 Speaker 4: self service app, and our customers have just decided on 499 00:25:22,840 --> 00:25:25,720 Speaker 4: how to use us to better do their business. Right 500 00:25:25,800 --> 00:25:27,679 Speaker 4: at the end of the day, we've got to provide 501 00:25:27,720 --> 00:25:31,040 Speaker 4: value to them, and they really choose on how they 502 00:25:31,040 --> 00:25:33,000 Speaker 4: want to use the app as long as they're using 503 00:25:33,040 --> 00:25:35,200 Speaker 4: it properly, but how they want to use the app, 504 00:25:35,240 --> 00:25:37,360 Speaker 4: And We've seen a lot of different use cases. 505 00:25:37,080 --> 00:25:40,960 Speaker 1: And I'm assuming that the users they have different security needs, 506 00:25:41,000 --> 00:25:44,080 Speaker 1: Like some need a you know, a gated I don't know, 507 00:25:44,080 --> 00:25:49,000 Speaker 1: maybe even video monitored a lot, and others just need 508 00:25:49,040 --> 00:25:52,800 Speaker 1: to patch your ground to sleep. So I'm assuming like 509 00:25:52,840 --> 00:25:55,119 Speaker 1: when you're going on to the site, you list like 510 00:25:55,160 --> 00:25:57,920 Speaker 1: all that sort of stuff with each property. 511 00:25:58,200 --> 00:26:01,240 Speaker 4: Yeah, you can filter by amenities, you know, common ones 512 00:26:01,240 --> 00:26:06,359 Speaker 4: are security at the gate, twenty four to seven access lights, cameras, 513 00:26:06,520 --> 00:26:11,600 Speaker 4: full time secured gate fencing, and they'll filter for those 514 00:26:11,680 --> 00:26:13,560 Speaker 4: and based on what their needs are. 515 00:26:13,600 --> 00:26:15,520 Speaker 3: But you're totally right. 516 00:26:15,600 --> 00:26:18,000 Speaker 4: I mean, sometimes an empty drive in all it needs 517 00:26:18,040 --> 00:26:23,000 Speaker 4: is a graveled lot and that suits them just fine. 518 00:26:23,240 --> 00:26:25,560 Speaker 4: Then at other times they need they need more security 519 00:26:25,600 --> 00:26:27,280 Speaker 4: based on whatever they're hauling. 520 00:26:27,280 --> 00:26:29,760 Speaker 1: All right, So what are the long term plans for 521 00:26:30,240 --> 00:26:31,200 Speaker 1: the Truck Parking Club. 522 00:26:32,280 --> 00:26:35,080 Speaker 4: Our mission is Truck Parking Club helps truckers save time 523 00:26:35,119 --> 00:26:37,919 Speaker 4: and fuel by efficiently finding and reserving truck parking across 524 00:26:37,920 --> 00:26:40,679 Speaker 4: the US. How do we do that? We do that 525 00:26:40,880 --> 00:26:44,280 Speaker 4: by getting tens of thousands of locations, hundreds of thousands, 526 00:26:44,280 --> 00:26:48,720 Speaker 4: if not millions of spaces, and then focusing on providing 527 00:26:48,760 --> 00:26:52,399 Speaker 4: a great experience to our trucker members every single time 528 00:26:52,560 --> 00:26:54,840 Speaker 4: they use us. And that's all we really think about. 529 00:26:54,920 --> 00:26:58,320 Speaker 4: And how do we scale that while delivering a great experience. 530 00:26:59,400 --> 00:27:02,399 Speaker 4: That's all we really think about, because there's there's a 531 00:27:02,480 --> 00:27:03,200 Speaker 4: huge problem. 532 00:27:03,000 --> 00:27:04,919 Speaker 3: To be solved here and. 533 00:27:06,200 --> 00:27:10,159 Speaker 4: I do not want to get distracted with with you know, 534 00:27:10,280 --> 00:27:14,879 Speaker 4: shiny outcomes or ancillary businesses and things of that nature. 535 00:27:14,960 --> 00:27:17,159 Speaker 4: So all we really think about is adding a lot 536 00:27:17,160 --> 00:27:20,439 Speaker 4: of locations, delivering great experiences and and doing that as 537 00:27:20,480 --> 00:27:21,480 Speaker 4: quickly as possible. 538 00:27:22,040 --> 00:27:24,399 Speaker 1: And what's the competition? Like in your space? Are there 539 00:27:24,400 --> 00:27:26,000 Speaker 1: other players doing similar things? 540 00:27:26,640 --> 00:27:28,520 Speaker 3: There are other companies that have tried. 541 00:27:30,680 --> 00:27:32,760 Speaker 4: Recently, spoke with a company that made an acquisition of 542 00:27:32,960 --> 00:27:36,040 Speaker 4: a small truck parking app a few years ago and. 543 00:27:36,280 --> 00:27:37,720 Speaker 3: Trying to sell us the domain. Now. 544 00:27:38,000 --> 00:27:42,040 Speaker 4: Yeah, but you know, you think about proof of concept, 545 00:27:42,200 --> 00:27:44,520 Speaker 4: are building an app? Proof of concept product market fit? 546 00:27:45,160 --> 00:27:49,160 Speaker 4: And I would say there are a handful of companies 547 00:27:49,240 --> 00:27:52,600 Speaker 4: out there that are trying to do truck parking, and 548 00:27:52,640 --> 00:27:54,720 Speaker 4: they're very much doing like build the app proof of 549 00:27:54,760 --> 00:27:58,240 Speaker 4: concept stage. We're not seeing anyone get through kind of 550 00:27:58,240 --> 00:28:01,920 Speaker 4: that death Valley product market fit stage, which I would 551 00:28:01,920 --> 00:28:06,040 Speaker 4: say we got through maybe eighteen months ago. And so 552 00:28:06,280 --> 00:28:08,600 Speaker 4: I would say, you know, think about like Uber and Lyft, 553 00:28:09,119 --> 00:28:11,200 Speaker 4: we don't have a lift today. Not to say that 554 00:28:11,320 --> 00:28:15,959 Speaker 4: it won't emerge, you know, that's that that would be expected, 555 00:28:16,720 --> 00:28:18,919 Speaker 4: but I would say we behave as if there is 556 00:28:18,960 --> 00:28:23,640 Speaker 4: someone right behind us at all times, even though as 557 00:28:23,640 --> 00:28:29,520 Speaker 4: of today there's not. But I would expect that, you know, 558 00:28:29,520 --> 00:28:33,000 Speaker 4: a competitor would emerge, an actual competitor, because these days 559 00:28:33,000 --> 00:28:36,080 Speaker 4: it's so easy to I built our first app. It 560 00:28:36,200 --> 00:28:38,200 Speaker 4: was not great, but I built our first app in 561 00:28:38,400 --> 00:28:42,320 Speaker 4: a few days. So it's it's very easy to kind 562 00:28:42,320 --> 00:28:47,320 Speaker 4: of say you're doing something. It's much harder to execute, operate, 563 00:28:48,320 --> 00:28:54,760 Speaker 4: govern you know, provide all the ancillary things that you 564 00:28:54,800 --> 00:28:57,400 Speaker 4: don't think about on a daily basis. So like we 565 00:28:57,480 --> 00:29:00,480 Speaker 4: have twenty four seven three sixty five customer service made 566 00:29:00,560 --> 00:29:05,080 Speaker 4: up of former drivers, half our team's former drivers. So 567 00:29:05,120 --> 00:29:06,800 Speaker 4: we built that out from the ground up with our 568 00:29:06,800 --> 00:29:10,840 Speaker 4: own processes. We haven't outsourced any of it. Things like 569 00:29:10,880 --> 00:29:14,560 Speaker 4: that that you can't snap your fingers and do that. 570 00:29:14,920 --> 00:29:16,320 Speaker 4: It takes a lot of work, and we have an 571 00:29:16,360 --> 00:29:18,480 Speaker 4: amazing woman that runs that that department. 572 00:29:18,640 --> 00:29:20,800 Speaker 1: Do you have a do you have a physical office 573 00:29:20,880 --> 00:29:23,160 Speaker 1: or you guys all remote. 574 00:29:23,520 --> 00:29:27,160 Speaker 4: So we are in the final final stage of inking 575 00:29:27,280 --> 00:29:32,440 Speaker 4: a contract on a headquarters just south of Chattanooga. It's 576 00:29:32,480 --> 00:29:35,520 Speaker 4: not not final, but good luck with that. 577 00:29:35,800 --> 00:29:36,080 Speaker 2: Yeah. 578 00:29:36,120 --> 00:29:38,479 Speaker 4: So we've been looking for eighteen months and I've been 579 00:29:38,600 --> 00:29:42,680 Speaker 4: very picky about it, and we have found a location 580 00:29:42,800 --> 00:29:44,880 Speaker 4: that has a couple of acres for parking, so we 581 00:29:44,920 --> 00:29:48,560 Speaker 4: can meet our members on a daily basis, get feedback 582 00:29:48,600 --> 00:29:52,000 Speaker 4: from them, make content with them, hopefully, just spend time 583 00:29:52,040 --> 00:29:53,480 Speaker 4: with them in general. 584 00:29:54,040 --> 00:29:56,840 Speaker 1: And I'm assuming the amenities will be really nice for drivers. 585 00:29:57,040 --> 00:29:57,280 Speaker 3: Yeah. 586 00:29:57,600 --> 00:30:00,640 Speaker 4: Yeah, we're gonna work to create a g experience for 587 00:30:00,680 --> 00:30:03,040 Speaker 4: them and then set the standard for other property members 588 00:30:03,280 --> 00:30:05,160 Speaker 4: and then have our property members in and say here's 589 00:30:05,200 --> 00:30:07,680 Speaker 4: what we're doing, here's what you guys could do to 590 00:30:07,720 --> 00:30:11,120 Speaker 4: improve or or vice versa. We could learn from them. 591 00:30:11,320 --> 00:30:14,040 Speaker 4: But we're in the final final stages of that. But 592 00:30:14,080 --> 00:30:17,440 Speaker 4: a couple acres, a lot of office space to have 593 00:30:17,480 --> 00:30:21,160 Speaker 4: a lounge and stuff for our truck members. So we're 594 00:30:21,240 --> 00:30:25,560 Speaker 4: very excited about it. I can't can't until it's final, final, 595 00:30:25,600 --> 00:30:27,040 Speaker 4: I really can't say too much. 596 00:30:27,080 --> 00:30:30,520 Speaker 1: Sure, sure, So what other challenges have you had, you know, 597 00:30:31,120 --> 00:30:33,920 Speaker 1: when your journey as an entrepreneur, you know, building this business. 598 00:30:35,040 --> 00:30:36,360 Speaker 3: Yeah, it's it's you. 599 00:30:36,320 --> 00:30:38,560 Speaker 4: Know, like I was saying, from that proof of concept 600 00:30:38,560 --> 00:30:41,280 Speaker 4: to product market fit stage is just gruesome. 601 00:30:41,680 --> 00:30:45,040 Speaker 3: It's just greaty it's so bad. Like you're building tech. 602 00:30:45,600 --> 00:30:47,280 Speaker 4: I mean it's that common saying, what is it build 603 00:30:47,280 --> 00:30:48,520 Speaker 4: the airplane as you're flying or. 604 00:30:48,440 --> 00:30:49,520 Speaker 3: Whatever you are. 605 00:30:49,560 --> 00:30:51,840 Speaker 4: You're building the tech, you're building the operations, and the 606 00:30:51,880 --> 00:30:54,280 Speaker 4: tech's not working for a little bit. The operations just 607 00:30:54,280 --> 00:30:56,280 Speaker 4: trying to cover up the fact that you've got some 608 00:30:56,360 --> 00:30:59,719 Speaker 4: bugs in the tech. And then you have, you know, 609 00:31:00,080 --> 00:31:02,640 Speaker 4: at that point, dozens or hundreds of drivers that are 610 00:31:02,720 --> 00:31:05,680 Speaker 4: using you, and you're trying to make sure they have 611 00:31:05,680 --> 00:31:07,320 Speaker 4: a great experience because if they have a bad one 612 00:31:07,520 --> 00:31:11,160 Speaker 4: and then they go tell everyone, that could ruin you. 613 00:31:11,160 --> 00:31:14,240 Speaker 3: You know, one one bad review that's real. 614 00:31:14,400 --> 00:31:16,520 Speaker 4: I mean we get fake, like kind of fake bad 615 00:31:16,560 --> 00:31:20,600 Speaker 4: reviews sometimes, but the real bad reviews that you just 616 00:31:20,800 --> 00:31:23,720 Speaker 4: neglected the customer because you're doing all these other things 617 00:31:23,760 --> 00:31:26,440 Speaker 4: at the same time could sink you. You're at a 618 00:31:26,520 --> 00:31:29,680 Speaker 4: very vulnerable stage in the company. So I would say 619 00:31:29,800 --> 00:31:34,000 Speaker 4: just getting through that part, which is why market places 620 00:31:34,040 --> 00:31:34,760 Speaker 4: are hard, right. 621 00:31:34,960 --> 00:31:36,320 Speaker 3: It's like it's a beautiful. 622 00:31:35,920 --> 00:31:37,720 Speaker 4: Thing when you're on the other side of it, it's 623 00:31:38,040 --> 00:31:40,840 Speaker 4: a really tough thing in the beginning to get any momentum. 624 00:31:40,960 --> 00:31:45,600 Speaker 4: So I think I think getting through that has been 625 00:31:45,640 --> 00:31:47,880 Speaker 4: the has been the main thing. And you know, you're 626 00:31:47,960 --> 00:31:49,560 Speaker 4: hiring staff at the same time, and you're trying to 627 00:31:49,560 --> 00:31:53,200 Speaker 4: stay ahead of the growth and just being able to 628 00:31:53,280 --> 00:31:56,040 Speaker 4: manage that I think as a whole at a high 629 00:31:56,120 --> 00:31:57,240 Speaker 4: level has been tough. 630 00:31:57,360 --> 00:31:59,720 Speaker 1: And your drivers, I'm assuming they raid each proper they 631 00:31:59,800 --> 00:32:02,280 Speaker 1: were they have the ability to raid each property for sure. 632 00:32:02,520 --> 00:32:08,520 Speaker 1: What's the biggest disappointment. That's an amenity that they're looking for. 633 00:32:08,600 --> 00:32:12,240 Speaker 1: That's that a property might not have, like the biggest 634 00:32:12,280 --> 00:32:14,840 Speaker 1: I guess constructive criticism if you will have a property. 635 00:32:15,200 --> 00:32:17,800 Speaker 4: Yeah, And you know, so it's our job to make 636 00:32:17,800 --> 00:32:21,040 Speaker 4: sure they know before a book what a minute is 637 00:32:21,040 --> 00:32:22,920 Speaker 4: they're going to get and if they don't know that, 638 00:32:23,000 --> 00:32:26,280 Speaker 4: then that's our fault, okay, and we take responsibility for that. 639 00:32:26,520 --> 00:32:29,280 Speaker 4: But let's say, for example, they want restrooms out of property. 640 00:32:29,640 --> 00:32:31,640 Speaker 4: If it doesn't show that it has restrooms, you kind 641 00:32:31,640 --> 00:32:33,960 Speaker 4: of know that going in. Now we do see people 642 00:32:34,000 --> 00:32:37,920 Speaker 4: make suggestions like, hey, lack the location, but I want 643 00:32:37,960 --> 00:32:40,520 Speaker 4: restrooms here, and then you kind of see that. You 644 00:32:40,560 --> 00:32:42,800 Speaker 4: see the review happen over and over, and then eventually 645 00:32:42,840 --> 00:32:45,160 Speaker 4: the property member goes and does that because the revenue 646 00:32:45,200 --> 00:32:48,880 Speaker 4: is able to support restrooms or whatever the request is. 647 00:32:48,920 --> 00:32:52,520 Speaker 4: But I would say commonly restrooms is the biggest one 648 00:32:53,800 --> 00:32:56,240 Speaker 4: just in general, because if you have this open lot 649 00:32:56,560 --> 00:32:58,800 Speaker 4: and you know, theft or whatever is not a concern, 650 00:32:59,560 --> 00:33:02,000 Speaker 4: it's just having a restroom there that you don't have 651 00:33:02,040 --> 00:33:05,040 Speaker 4: to go off off site uh to use it. So 652 00:33:05,080 --> 00:33:08,520 Speaker 4: that that's a common one. Uh. Lighted areas are, you know, 653 00:33:08,680 --> 00:33:12,320 Speaker 4: very common one. But like I said, it's our job 654 00:33:12,360 --> 00:33:14,720 Speaker 4: to let them know beforehand. We don't want them to 655 00:33:14,720 --> 00:33:19,320 Speaker 4: have any surprises at the property, and so we focus 656 00:33:19,360 --> 00:33:23,200 Speaker 4: on delivering a great experience. It's similar to like what 657 00:33:23,520 --> 00:33:27,800 Speaker 4: you know Airbnb leans into is they're they're an experienced company. 658 00:33:27,920 --> 00:33:28,040 Speaker 2: Right. 659 00:33:28,320 --> 00:33:31,000 Speaker 4: If you have a bad experience on Airbnb, there's a 660 00:33:31,080 --> 00:33:32,440 Speaker 4: there's a chance they're not going back. 661 00:33:32,560 --> 00:33:33,760 Speaker 3: So you've really got to focus on. 662 00:33:33,760 --> 00:33:36,960 Speaker 4: The entire experience, and one of those is just making 663 00:33:37,000 --> 00:33:39,520 Speaker 4: sure our truck members know exactly what they're getting. 664 00:33:39,960 --> 00:33:42,640 Speaker 1: So besides, like the truck stops out there that are 665 00:33:42,680 --> 00:33:46,280 Speaker 1: that are on the platform and using you uh to 666 00:33:46,560 --> 00:33:50,400 Speaker 1: monetize their space, are there any other like institutional large 667 00:33:50,480 --> 00:33:54,720 Speaker 1: property owners that you're either are working with or trying 668 00:33:54,760 --> 00:33:58,080 Speaker 1: to work with to try to you know, increase that density. 669 00:33:58,720 --> 00:34:00,840 Speaker 4: Yeah, and truck stops, I think think they're about three 670 00:34:00,920 --> 00:34:03,120 Speaker 4: percent of our locations right now, so not a huge 671 00:34:03,120 --> 00:34:06,560 Speaker 4: part of our business at the moment, but we love 672 00:34:06,600 --> 00:34:07,320 Speaker 4: working with them. 673 00:34:08,040 --> 00:34:09,000 Speaker 3: They're great partners. 674 00:34:11,040 --> 00:34:11,239 Speaker 4: You know. 675 00:34:11,320 --> 00:34:12,799 Speaker 3: We've started working with. 676 00:34:13,680 --> 00:34:19,040 Speaker 4: Some three PLS companies like Logistics Plus that have a 677 00:34:19,040 --> 00:34:21,680 Speaker 4: lot of warehouses across the US, and they have all 678 00:34:21,719 --> 00:34:24,000 Speaker 4: this yard space that's just sitting there, and we're able 679 00:34:24,000 --> 00:34:26,200 Speaker 4: to get them in the business and help that run 680 00:34:26,239 --> 00:34:29,839 Speaker 4: smoothly and then continue doing their own business. And then 681 00:34:29,880 --> 00:34:33,760 Speaker 4: this is all bottom line for them, which I think 682 00:34:34,360 --> 00:34:38,000 Speaker 4: what we've found is they're very appreciative of because we 683 00:34:38,040 --> 00:34:40,560 Speaker 4: can make them ten grand that may be one hundred 684 00:34:40,600 --> 00:34:44,200 Speaker 4: grand in revenue for their core business, right and this 685 00:34:44,239 --> 00:34:46,040 Speaker 4: is all bottom line. They're not paying any more for 686 00:34:46,080 --> 00:34:49,560 Speaker 4: that property and all the amenities that they have at 687 00:34:49,600 --> 00:34:53,279 Speaker 4: the site are already there for their own for their 688 00:34:53,320 --> 00:35:01,120 Speaker 4: own operations and self storage companies. So there's a lot 689 00:35:01,120 --> 00:35:03,080 Speaker 4: of self storage companies out there that have yard space. 690 00:35:03,640 --> 00:35:06,280 Speaker 4: Now the hard party is getting in with them because 691 00:35:06,400 --> 00:35:09,840 Speaker 4: you were very dialed in with our processes at this point, 692 00:35:10,640 --> 00:35:13,279 Speaker 4: and we were able to develop a partnership with the 693 00:35:13,320 --> 00:35:16,239 Speaker 4: third largest self storage company in the US, which has 694 00:35:16,280 --> 00:35:18,800 Speaker 4: been very exciting and we see them as a great partner. 695 00:35:18,920 --> 00:35:25,440 Speaker 4: Prime is the company's name, and there we're working toward 696 00:35:25,600 --> 00:35:29,600 Speaker 4: one hundred locations with them now because they have a 697 00:35:29,600 --> 00:35:32,239 Speaker 4: lot of locations with yard space, and we've been able 698 00:35:32,280 --> 00:35:35,799 Speaker 4: to make them a very good amount of money in 699 00:35:35,840 --> 00:35:39,759 Speaker 4: just the last few weeks and deliver a lot more 700 00:35:39,880 --> 00:35:42,200 Speaker 4: brand new parking to drivers that was never available. 701 00:35:42,360 --> 00:35:45,400 Speaker 1: Yeah, and what's been the biggest surprise, I guess getting 702 00:35:45,440 --> 00:35:48,000 Speaker 1: deeper into the trucking market over the last couple of years. 703 00:35:48,000 --> 00:35:49,800 Speaker 1: To you about the industry. 704 00:35:49,600 --> 00:35:53,920 Speaker 4: I think you would agree we've been in a downmarket 705 00:35:53,920 --> 00:35:57,320 Speaker 4: the whole time. Right, Certainly, I've been naive. I was 706 00:35:57,440 --> 00:35:59,960 Speaker 4: naive to that getting it getting in. I had heard 707 00:36:00,040 --> 00:36:02,000 Speaker 4: it was bad or whatever, but I was just so naive. 708 00:36:02,000 --> 00:36:04,200 Speaker 4: I didn't really consider it, so we've been kind of 709 00:36:04,280 --> 00:36:07,680 Speaker 4: We've been growing quite quickly in a in a down market, 710 00:36:08,200 --> 00:36:10,239 Speaker 4: which I think goes to show the general need and 711 00:36:10,320 --> 00:36:14,880 Speaker 4: the and the value we're providing. But I think on 712 00:36:14,960 --> 00:36:17,960 Speaker 4: top of that, I think it's just the industry as 713 00:36:17,960 --> 00:36:23,560 Speaker 4: a whole is amazingly fragmented between owner operators and drivers, 714 00:36:23,640 --> 00:36:29,239 Speaker 4: and I think I'm continually amazed with like how fragmented 715 00:36:29,239 --> 00:36:32,120 Speaker 4: it is, which for us is just a bigger moat 716 00:36:32,600 --> 00:36:35,239 Speaker 4: within the business because you know you're clawing away at 717 00:36:35,400 --> 00:36:37,439 Speaker 4: one driver at a time on the owner operator side, 718 00:36:37,440 --> 00:36:41,879 Speaker 4: and they're this massive part of the market. I would 719 00:36:41,920 --> 00:36:44,799 Speaker 4: say I'm continued continue to be amazed by that. And 720 00:36:45,080 --> 00:36:49,480 Speaker 4: I think probably lastly, I come from real estate, relationships 721 00:36:49,480 --> 00:36:52,480 Speaker 4: are very important. We're in New York City. Relationships for 722 00:36:52,520 --> 00:36:56,600 Speaker 4: real estate is probably everything in a lot of situations. 723 00:36:56,840 --> 00:37:00,480 Speaker 4: I think logistics is quite similar. I've found that That's 724 00:37:00,480 --> 00:37:02,400 Speaker 4: why I go to all these events, That's why I 725 00:37:02,480 --> 00:37:07,120 Speaker 4: meet with everyone such as yourself and talk with as 726 00:37:07,120 --> 00:37:09,840 Speaker 4: many people as I can, because I think relationships and 727 00:37:09,880 --> 00:37:12,040 Speaker 4: showing people that you're in the industry for the best 728 00:37:12,040 --> 00:37:14,719 Speaker 4: interest and you're willing to listen and get feedback on 729 00:37:15,120 --> 00:37:18,840 Speaker 4: a business, especially ours and newer business model I think 730 00:37:19,800 --> 00:37:25,080 Speaker 4: is everything to really developing a staying power long term. 731 00:37:25,440 --> 00:37:25,720 Speaker 2: Great. 732 00:37:26,120 --> 00:37:28,880 Speaker 1: And I usually like to end the podcast with this question, 733 00:37:29,120 --> 00:37:31,240 Speaker 1: is is there like a book that you've read recently 734 00:37:31,520 --> 00:37:34,680 Speaker 1: on whether it's transportation or leadership that's kind of close 735 00:37:34,719 --> 00:37:38,760 Speaker 1: to your heart, you know, our entrepreneurialship again in your case. 736 00:37:39,000 --> 00:37:41,520 Speaker 4: Yeah, I got asked this on a podcast the other 737 00:37:41,600 --> 00:37:44,239 Speaker 4: day that you know. What I would say is, I've 738 00:37:44,320 --> 00:37:47,920 Speaker 4: been really onto a podcast called Founders. 739 00:37:48,000 --> 00:37:48,680 Speaker 3: Have you heard of that? 740 00:37:48,840 --> 00:37:52,160 Speaker 4: Yep? Yeah, so I think Michael Bloomberg. He did one 741 00:37:52,160 --> 00:37:53,080 Speaker 4: on Michael Bloomberg. 742 00:37:53,440 --> 00:37:54,200 Speaker 2: I've heard of him. 743 00:37:54,320 --> 00:37:57,280 Speaker 3: Yeah, so he's Bloomberg. 744 00:37:57,960 --> 00:38:00,840 Speaker 4: You're talking about David Center, the the guy that started 745 00:38:00,840 --> 00:38:04,560 Speaker 4: the podcast, but he did one on Michael Bloomberg I 746 00:38:04,560 --> 00:38:06,520 Speaker 4: think a year or two ago. But it's an hour 747 00:38:06,640 --> 00:38:11,520 Speaker 4: or so podcast about a biography on a successful entrepreneur, 748 00:38:11,600 --> 00:38:15,799 Speaker 4: business business person. He has hundreds of them on there, 749 00:38:16,239 --> 00:38:18,319 Speaker 4: and pretty much any of the biographies I've ever read 750 00:38:18,440 --> 00:38:18,960 Speaker 4: he's done. 751 00:38:19,520 --> 00:38:21,440 Speaker 3: He's done a. 752 00:38:21,400 --> 00:38:24,600 Speaker 4: Podcast on them. And I've been really into that that 753 00:38:24,600 --> 00:38:25,320 Speaker 4: that's been. 754 00:38:25,680 --> 00:38:28,200 Speaker 1: I'm assuming it's your second favorite podcast after talking. 755 00:38:28,040 --> 00:38:31,120 Speaker 3: To course, of course, of course, of course. Yeah, I 756 00:38:31,560 --> 00:38:32,400 Speaker 3: think I would say that. 757 00:38:32,520 --> 00:38:34,240 Speaker 4: And if I had to choose a book, it would 758 00:38:34,280 --> 00:38:38,439 Speaker 4: be Sam Walton Made in America. Just such a good 759 00:38:38,440 --> 00:38:43,440 Speaker 4: example of just head down, working hard for decades and creating, 760 00:38:43,600 --> 00:38:47,680 Speaker 4: you know, a really amazing business that's stood the stood 761 00:38:47,719 --> 00:38:48,399 Speaker 4: the test of time. 762 00:38:48,680 --> 00:38:51,239 Speaker 1: All right, great, thank you having for your time and 763 00:38:51,560 --> 00:38:53,360 Speaker 1: your insights. Really appreciate it today. 764 00:38:53,480 --> 00:38:54,440 Speaker 3: Yeah, thanks for having me. 765 00:38:54,680 --> 00:38:56,239 Speaker 2: I also want to thank you for tuning in. 766 00:38:56,280 --> 00:38:58,920 Speaker 1: If you liked the episode, please subscribe and leave a review. 767 00:38:59,280 --> 00:39:01,760 Speaker 1: We've lined up a number of great guests for the podcast, 768 00:39:01,840 --> 00:39:07,400 Speaker 1: so please check back to hear conversations with C suite executives, shippers, regulators, 769 00:39:07,440 --> 00:39:10,560 Speaker 1: and decision makers within the freight markets. Also, if you 770 00:39:10,560 --> 00:39:13,640 Speaker 1: want to learn more about freight transportation markets, please check 771 00:39:13,680 --> 00:39:16,400 Speaker 1: out our work on the Bloomberg Terminal at Bigo and 772 00:39:16,480 --> 00:39:19,840 Speaker 1: on social media. This is Lee Clasgal signing off and 773 00:39:19,920 --> 00:39:21,480 Speaker 1: thanks for talking transports with me. 774 00:39:21,719 --> 00:39:28,879 Speaker 2: Bye.