1 00:00:07,600 --> 00:00:10,240 Speaker 1: Hi everyone, this is Lee Clasgow when We're Talking Transports. 2 00:00:10,280 --> 00:00:13,400 Speaker 1: Welcome to Bloomberg Intelligence Talking Transport podcast. I'm your host, 3 00:00:13,560 --> 00:00:18,240 Speaker 1: Lee Clasgow, senior freight, transportation and logistics analysts at Bloomberg Intelligence, 4 00:00:18,520 --> 00:00:21,360 Speaker 1: Bloomberg's in house research arm of almost five hundred analysts 5 00:00:21,360 --> 00:00:25,000 Speaker 1: and strategists around the world. A quick public service announcement 6 00:00:25,079 --> 00:00:27,960 Speaker 1: before we dive in. Your support is instrumental to keep 7 00:00:27,960 --> 00:00:31,000 Speaker 1: bringing great guests and conversations to you, our listeners, and 8 00:00:31,040 --> 00:00:34,160 Speaker 1: we need your support. So please, if you enjoy this podcast, 9 00:00:34,479 --> 00:00:35,360 Speaker 1: share it, like. 10 00:00:35,320 --> 00:00:36,240 Speaker 2: It and leave a comment. 11 00:00:36,760 --> 00:00:39,760 Speaker 1: Also, if you have any ideas, feedbacks, or just want 12 00:00:39,760 --> 00:00:42,520 Speaker 1: to talk transports, I'm happy to connect. You can find 13 00:00:42,560 --> 00:00:45,640 Speaker 1: me on the Bloomberg terminal, on LinkedIn, or on x 14 00:00:45,800 --> 00:00:48,880 Speaker 1: at Logistics. Lee, I'm very excited to have with us today. 15 00:00:49,000 --> 00:00:53,400 Speaker 1: Robert Bain, Director of Partnerships and Senior Consultant at GLCs. 16 00:00:53,720 --> 00:00:57,320 Speaker 1: Robert has nearly twenty years of experience in the transportation industry, 17 00:00:57,520 --> 00:01:01,960 Speaker 1: from leadership and employee management to business processes and technology. 18 00:01:02,040 --> 00:01:07,119 Speaker 1: As GLCs is senior consultant, Bain is responsible for developing 19 00:01:07,440 --> 00:01:12,720 Speaker 1: the organization's three pl and intermediary clients Welcome to the podcast, Robert, 20 00:01:12,760 --> 00:01:13,800 Speaker 1: thanks so much for joining us. 21 00:01:13,800 --> 00:01:15,000 Speaker 2: Thanks for having me on. It's an honor. 22 00:01:15,280 --> 00:01:19,000 Speaker 1: And you know, we met sometime this year at tmsa's 23 00:01:19,080 --> 00:01:21,640 Speaker 1: June conference. I heard you speak and I thought you'd 24 00:01:21,720 --> 00:01:24,120 Speaker 1: have You would be a great guest to have on 25 00:01:24,400 --> 00:01:27,200 Speaker 1: the Talking Transports podcast because not only do you have 26 00:01:27,200 --> 00:01:29,880 Speaker 1: insights about the industry, but you're also an interesting person. 27 00:01:30,080 --> 00:01:31,959 Speaker 2: Thanks. I appreciate that. I try to be all right, 28 00:01:32,000 --> 00:01:32,760 Speaker 2: So why don't. 29 00:01:32,600 --> 00:01:35,240 Speaker 1: You tell us a little bit about GLCs before we 30 00:01:35,280 --> 00:01:35,600 Speaker 1: move on. 31 00:01:35,880 --> 00:01:39,440 Speaker 2: Sure, JLCS we're nine years old as of June, so 32 00:01:39,480 --> 00:01:43,080 Speaker 2: we've been around for that time. We've also had our CEO, Nate, 33 00:01:43,160 --> 00:01:46,039 Speaker 2: has been in the space for almost thirty years. Our 34 00:01:46,200 --> 00:01:49,440 Speaker 2: entire organization is all transflation professional, so our focus is 35 00:01:49,600 --> 00:01:53,960 Speaker 2: technology around the space, specifically for trucking and logistics companies, 36 00:01:53,960 --> 00:01:57,760 Speaker 2: so everything for your operating systems integrations, and so we 37 00:01:57,800 --> 00:01:59,240 Speaker 2: do with that as we do managed IT, so that 38 00:01:59,280 --> 00:02:02,080 Speaker 2: we kind of come in and support IT firms or 39 00:02:02,120 --> 00:02:04,720 Speaker 2: IT T arms of the organizations as well as the 40 00:02:04,760 --> 00:02:08,040 Speaker 2: operations teams. So my role specifically is focused on not 41 00:02:08,120 --> 00:02:11,400 Speaker 2: like recommending IT solutions, but also on process assessment and 42 00:02:11,520 --> 00:02:13,440 Speaker 2: organizational design and organizational upkeeping. 43 00:02:13,639 --> 00:02:15,840 Speaker 1: All right, Well, you have an interesting perspective because you know, 44 00:02:16,040 --> 00:02:18,360 Speaker 1: you see what's going on in the freight markets and 45 00:02:18,440 --> 00:02:23,160 Speaker 1: also specifically you see what's going on with technology in 46 00:02:23,200 --> 00:02:28,160 Speaker 1: those markets. What are your customers and clients telling you about, 47 00:02:28,400 --> 00:02:30,519 Speaker 1: you know, the current state of the trucking market and 48 00:02:30,800 --> 00:02:32,519 Speaker 1: where they see it going from here. 49 00:02:32,680 --> 00:02:34,639 Speaker 2: No surprises, It's tough. It's hard up there right now. 50 00:02:34,800 --> 00:02:38,800 Speaker 2: Rates are down definitely, Freight volumes, frey volumes are actually 51 00:02:38,800 --> 00:02:41,120 Speaker 2: at a pretty decent level. The downside's capacity is still 52 00:02:41,280 --> 00:02:43,400 Speaker 2: very very high. You see what a lot of things 53 00:02:43,440 --> 00:02:47,640 Speaker 2: going on with carriers that started in the industry very recently, 54 00:02:47,680 --> 00:02:49,919 Speaker 2: so you know, twenty twenty and on. You know, they've 55 00:02:49,960 --> 00:02:52,560 Speaker 2: taken out loans, they are working to get their trucks running, 56 00:02:52,600 --> 00:02:54,360 Speaker 2: and so there's a lot of capacity. It's out there, 57 00:02:54,440 --> 00:02:56,239 Speaker 2: and there's just not a lot of new opportunities that 58 00:02:56,280 --> 00:02:57,799 Speaker 2: are coming through. So a lot of folks are trying 59 00:02:57,840 --> 00:03:00,560 Speaker 2: to do more with less and trying to keep business 60 00:03:00,840 --> 00:03:03,440 Speaker 2: as people continue to undercut and kind of drive prices down. 61 00:03:03,560 --> 00:03:05,959 Speaker 2: This ultimately works great for the shippers. Hopefully it passes 62 00:03:06,000 --> 00:03:08,320 Speaker 2: on to consumers one of these days. Inflation is telling 63 00:03:08,360 --> 00:03:11,160 Speaker 2: us u's not. But ultimately that is the challenge right 64 00:03:11,200 --> 00:03:14,400 Speaker 2: now is where's the freight and how can we ultimately 65 00:03:14,400 --> 00:03:16,560 Speaker 2: do more with less with both our employees and also 66 00:03:16,600 --> 00:03:18,400 Speaker 2: with the customers that we're getting right. 67 00:03:19,440 --> 00:03:22,200 Speaker 1: And you know, you also work with the brokerage industry. 68 00:03:22,200 --> 00:03:25,840 Speaker 1: Technology is extremely important to them, so you know they 69 00:03:25,880 --> 00:03:29,079 Speaker 1: can be more productive. Can you talk about the solutions 70 00:03:29,200 --> 00:03:32,040 Speaker 1: that a lot of brokerage firms, because I'm assuming do 71 00:03:32,080 --> 00:03:34,000 Speaker 1: you deal with like the h Robinson's of the world. 72 00:03:34,040 --> 00:03:36,360 Speaker 1: Are you dealing with the mom and pop freight broker 73 00:03:37,000 --> 00:03:37,800 Speaker 1: you know, down on main. 74 00:03:37,720 --> 00:03:39,960 Speaker 2: Street all the buff So we work with quite a 75 00:03:40,000 --> 00:03:42,640 Speaker 2: few folks. We certainly have a lot of large enterprise clients. 76 00:03:42,880 --> 00:03:45,120 Speaker 2: Our sweet spot is usually going to be that fifty 77 00:03:45,160 --> 00:03:48,200 Speaker 2: million to two and fifty million dollar top line brokerage. 78 00:03:48,200 --> 00:03:50,760 Speaker 2: Typically they've got a lot of great talented people. Their 79 00:03:50,800 --> 00:03:54,040 Speaker 2: focus is moving freight and technology is not always their focus, 80 00:03:54,080 --> 00:03:55,520 Speaker 2: and so there's a lot of times when things fall 81 00:03:55,560 --> 00:03:57,880 Speaker 2: through the cracks. You look at like a ch and Echo, 82 00:03:58,680 --> 00:04:03,680 Speaker 2: a Redwood now not XPO, but formerly XBO, they typically 83 00:04:03,720 --> 00:04:06,240 Speaker 2: have very large staff of IT and technical professionals, and 84 00:04:06,280 --> 00:04:08,720 Speaker 2: we still come in and we help them not as much. 85 00:04:08,840 --> 00:04:11,360 Speaker 2: We may come into some of these you know, small 86 00:04:11,480 --> 00:04:14,960 Speaker 2: enterprise and mid market organizations. So with them, what we 87 00:04:15,040 --> 00:04:17,039 Speaker 2: typically look at is we look at their operating systems 88 00:04:17,120 --> 00:04:19,880 Speaker 2: or TMSs, and what we typically find is that a 89 00:04:19,880 --> 00:04:22,760 Speaker 2: lot of things that worked as the business grew does 90 00:04:22,800 --> 00:04:24,680 Speaker 2: not work as the state they are in now. And 91 00:04:24,720 --> 00:04:26,560 Speaker 2: so there's a lot of that reassessment of is it 92 00:04:26,600 --> 00:04:29,279 Speaker 2: the technology, is the process, and then how can we 93 00:04:29,320 --> 00:04:31,480 Speaker 2: make sure that these people are able to go from 94 00:04:31,760 --> 00:04:33,599 Speaker 2: moving ten loads a day to twenty to fifty to 95 00:04:33,600 --> 00:04:36,080 Speaker 2: one hundred and so that's where the technology comes in, 96 00:04:36,080 --> 00:04:38,120 Speaker 2: where it's going to be automated quoting whether it's going 97 00:04:38,160 --> 00:04:40,839 Speaker 2: to be automation on the back end or get integrations 98 00:04:40,839 --> 00:04:42,800 Speaker 2: and streamlining the entire process right. 99 00:04:43,240 --> 00:04:46,880 Speaker 1: And the vendors that provide those services are their names 100 00:04:46,880 --> 00:04:49,360 Speaker 1: that you know folks would know, or are they big 101 00:04:49,400 --> 00:04:52,400 Speaker 1: technology firms or these really niche players that are you 102 00:04:52,440 --> 00:04:56,520 Speaker 1: know that created I guess the niche service for themselves. 103 00:04:56,600 --> 00:04:58,800 Speaker 2: So there was a time where there was a big 104 00:04:58,880 --> 00:05:00,600 Speaker 2: push for a lot of the big names. So you 105 00:05:00,640 --> 00:05:03,839 Speaker 2: look like your trimbles, your Mcloud's really to kind of 106 00:05:03,880 --> 00:05:05,839 Speaker 2: be the one stop shot. We want everything in one 107 00:05:06,160 --> 00:05:07,840 Speaker 2: on one bill. We want everything like that. What we 108 00:05:07,920 --> 00:05:09,719 Speaker 2: have found and what they have found, is that it 109 00:05:09,760 --> 00:05:11,360 Speaker 2: is really hard to be all things to all people. 110 00:05:11,880 --> 00:05:14,520 Speaker 2: Every brokerage comes in or every trucking company comes in, 111 00:05:14,560 --> 00:05:18,400 Speaker 2: they've all got different needs. And so what folks have 112 00:05:18,440 --> 00:05:20,200 Speaker 2: found it's a lot easier to go out and build 113 00:05:20,360 --> 00:05:23,320 Speaker 2: small niche products like you're talking about. A great example 114 00:05:23,400 --> 00:05:26,200 Speaker 2: like everest Ai who has built an amazing product with 115 00:05:26,240 --> 00:05:30,120 Speaker 2: agenta AI that comes in. It can do automated tracking calls, 116 00:05:30,279 --> 00:05:32,920 Speaker 2: it can do bill collection. Another great one is like 117 00:05:33,000 --> 00:05:35,440 Speaker 2: upwell everything on the back end, so once a load 118 00:05:35,520 --> 00:05:38,600 Speaker 2: is delivered, all the way up until basically payment acceptance, 119 00:05:38,880 --> 00:05:41,359 Speaker 2: everything can be automated throughout Bulls platform. And so we 120 00:05:41,400 --> 00:05:43,440 Speaker 2: see these very niche players that come in and they 121 00:05:43,480 --> 00:05:45,920 Speaker 2: do very very well. Another great example was green Screens, 122 00:05:45,920 --> 00:05:48,960 Speaker 2: who recently was acquired by Triump Financial, where all the 123 00:05:49,000 --> 00:05:53,000 Speaker 2: automated process they dealt with was around pricing. So when 124 00:05:53,040 --> 00:05:55,839 Speaker 2: a rep would potentially get you one hundred quote requests 125 00:05:55,839 --> 00:05:58,680 Speaker 2: from a customer from a series of customers, green Screens 126 00:05:58,720 --> 00:05:59,960 Speaker 2: can come in and they can provide all the data 127 00:06:00,040 --> 00:06:02,200 Speaker 2: you need it and you could actually automate that whole process. 128 00:06:02,200 --> 00:06:04,520 Speaker 2: So you could have rates already in, you could already 129 00:06:04,560 --> 00:06:06,920 Speaker 2: have profit margins built in, and that person can be 130 00:06:07,000 --> 00:06:08,839 Speaker 2: much more effective. And all they're really doing at that 131 00:06:08,880 --> 00:06:11,360 Speaker 2: point is send everything comes back and they're able to 132 00:06:11,400 --> 00:06:13,119 Speaker 2: start building and executing on the freight of self. 133 00:06:13,720 --> 00:06:16,000 Speaker 1: And from a technology standpoint, when you're looking at the 134 00:06:16,000 --> 00:06:20,280 Speaker 1: brokerage industry, what's the bare bones that a brokerage has 135 00:06:20,360 --> 00:06:22,800 Speaker 1: to have, you know, as opposed to, oh, we're going 136 00:06:22,839 --> 00:06:25,320 Speaker 1: to automate you know, ninety eight percent of our transactions. 137 00:06:25,720 --> 00:06:28,720 Speaker 1: You know, what do they need to have just to 138 00:06:28,720 --> 00:06:29,960 Speaker 1: be competitive out there? 139 00:06:30,400 --> 00:06:31,680 Speaker 2: So I'm going to tell you this right now. If 140 00:06:31,720 --> 00:06:33,960 Speaker 2: you are under twenty million dollars in revenue, all these 141 00:06:33,960 --> 00:06:36,360 Speaker 2: different companies I'm talking about, don't worry about them. Just 142 00:06:36,360 --> 00:06:40,719 Speaker 2: don't because they are great. They're awesome. Because your margins 143 00:06:40,760 --> 00:06:42,160 Speaker 2: are going to be so thin. That's not some need 144 00:06:42,200 --> 00:06:43,479 Speaker 2: to think about. You need to look at you needed 145 00:06:43,520 --> 00:06:46,839 Speaker 2: operating system, you ATMs. You're already something on the accounting side, typical, 146 00:06:46,880 --> 00:06:48,640 Speaker 2: it's going to be quick books, and then you need 147 00:06:48,680 --> 00:06:52,240 Speaker 2: some way to track things and a repository that you're 148 00:06:52,240 --> 00:06:54,080 Speaker 2: gonna have access to at all times. The best thing 149 00:06:54,120 --> 00:06:56,279 Speaker 2: I can tell people is look at Microsoft or the 150 00:06:56,279 --> 00:06:58,760 Speaker 2: Google Suite because you'll have access to this. And then 151 00:06:58,839 --> 00:07:01,400 Speaker 2: as you grow and expand, now you start looking at 152 00:07:01,400 --> 00:07:02,800 Speaker 2: do I need a data lake, Do I need to 153 00:07:02,839 --> 00:07:05,520 Speaker 2: have some type of streamlined integration of data? All those 154 00:07:05,520 --> 00:07:07,360 Speaker 2: things will be as you grow, but up until about 155 00:07:07,360 --> 00:07:10,440 Speaker 2: twenty million that you basically need a TMS, a finance system, 156 00:07:10,760 --> 00:07:13,600 Speaker 2: and an extension, not a Gmail address, So the t 157 00:07:13,680 --> 00:07:15,200 Speaker 2: suite that you can just buy the spend the extra 158 00:07:15,200 --> 00:07:17,880 Speaker 2: four dollars a month and get your own extension. 159 00:07:18,160 --> 00:07:20,320 Speaker 1: And can you just tell our listeners, because you know 160 00:07:20,400 --> 00:07:22,440 Speaker 1: not everyone is as hip as you and I are. 161 00:07:23,320 --> 00:07:25,320 Speaker 1: What a TMS is and what does it do? 162 00:07:25,600 --> 00:07:28,840 Speaker 2: Certainly a transportation management system. Now all of my TMS 163 00:07:28,880 --> 00:07:30,120 Speaker 2: friends are going to get mad when I say this. 164 00:07:30,200 --> 00:07:32,440 Speaker 2: It's a very spread fancy spreadsheet, is what it is. 165 00:07:32,880 --> 00:07:35,560 Speaker 2: But it does have some extra bells and whistles to 166 00:07:35,600 --> 00:07:37,520 Speaker 2: it that allow you to operate your freight. So it 167 00:07:37,560 --> 00:07:41,520 Speaker 2: will track what is open, what is covered, what is delivered, 168 00:07:41,560 --> 00:07:43,800 Speaker 2: what has not been collected on. It will then hopefully 169 00:07:43,800 --> 00:07:47,200 Speaker 2: connect to your finance system so that you can create invoices. 170 00:07:47,240 --> 00:07:50,040 Speaker 2: You can also then create agent reports all the things 171 00:07:50,080 --> 00:07:52,120 Speaker 2: you would need to actually run your business. But the 172 00:07:52,160 --> 00:07:54,280 Speaker 2: execution of the freight that you win from your customers 173 00:07:54,280 --> 00:07:55,720 Speaker 2: is all going to be done through your TMS, your 174 00:07:55,720 --> 00:07:57,200 Speaker 2: transportation management system. 175 00:07:57,760 --> 00:07:59,640 Speaker 1: You know, I know you talk about the three pillars 176 00:07:59,640 --> 00:08:02,120 Speaker 1: of six tests and the freight brokeer. Can you tell 177 00:08:02,160 --> 00:08:03,320 Speaker 1: me what your three pillars are? 178 00:08:03,520 --> 00:08:05,480 Speaker 2: So these are very simple, and this is to be fair. 179 00:08:05,560 --> 00:08:07,640 Speaker 2: This can work in almost any operation, but I focus 180 00:08:07,680 --> 00:08:09,800 Speaker 2: them on obviously my industry, because this is in our industry. 181 00:08:09,960 --> 00:08:12,920 Speaker 2: Is this what I do first things versus extreme ownership. 182 00:08:13,840 --> 00:08:15,560 Speaker 2: The second is going to be customer experience, and the 183 00:08:15,640 --> 00:08:18,760 Speaker 2: third is free cash flow. Extreme Ownership is exactly what 184 00:08:18,800 --> 00:08:21,480 Speaker 2: it says, you own everything. If anyone wants to truly 185 00:08:21,520 --> 00:08:23,520 Speaker 2: understand that, read the book by Jocko Willink. By the way, 186 00:08:23,560 --> 00:08:25,160 Speaker 2: I'm not endorsed pain of these people that I'm talking 187 00:08:25,200 --> 00:08:26,920 Speaker 2: about right now. I just have either free friends of them, 188 00:08:26,960 --> 00:08:28,760 Speaker 2: or I really like the products I put out. Jocko's 189 00:08:28,800 --> 00:08:31,200 Speaker 2: one of them. The book Extreme Ownership is one of 190 00:08:31,240 --> 00:08:33,160 Speaker 2: the best books on business in life I've ever read 191 00:08:33,920 --> 00:08:35,679 Speaker 2: any person that I mentor that I talk to, any 192 00:08:35,679 --> 00:08:38,000 Speaker 2: person I've ever managed, all for my children that eventually 193 00:08:38,040 --> 00:08:40,160 Speaker 2: my granddaughter. All have been given a copy of this 194 00:08:40,160 --> 00:08:41,319 Speaker 2: book and I expect them to read it and I 195 00:08:41,400 --> 00:08:44,920 Speaker 2: typically will quizzle on it. So the concept behind extreme 196 00:08:44,960 --> 00:08:47,120 Speaker 2: ownership is every piece of your life you own. If 197 00:08:47,120 --> 00:08:49,400 Speaker 2: something happens, if I'm in a car accident and somebody 198 00:08:49,400 --> 00:08:51,199 Speaker 2: who ends me, what could I have done different to 199 00:08:51,200 --> 00:08:53,240 Speaker 2: make sure that didn't happen. It's a very different way 200 00:08:53,240 --> 00:08:57,680 Speaker 2: of thinking about things. So again it's not a nothing's 201 00:08:57,720 --> 00:08:59,480 Speaker 2: ever good enough? Is that I can always be better, 202 00:09:00,120 --> 00:09:04,440 Speaker 2: slight shift customer experience. This all stems from these last 203 00:09:04,440 --> 00:09:07,040 Speaker 2: two stem from the book The Amazon Way. So if 204 00:09:07,040 --> 00:09:09,120 Speaker 2: you ever listened to Jeff Bezols talk about the early 205 00:09:09,200 --> 00:09:11,719 Speaker 2: days of Amazon, and obviously the success there was incredible. 206 00:09:13,120 --> 00:09:16,319 Speaker 2: They were never worried about profits, which drove their investors insane. 207 00:09:16,760 --> 00:09:18,120 Speaker 2: I believe you guys actually had some fun with them 208 00:09:18,160 --> 00:09:20,520 Speaker 2: a Bloomberg early on when people were really unsure are 209 00:09:20,520 --> 00:09:23,560 Speaker 2: they going to make it or not? And what they 210 00:09:23,600 --> 00:09:26,160 Speaker 2: did with is everything is focused on customer experience because 211 00:09:26,200 --> 00:09:29,400 Speaker 2: if customers keep coming back, everything fixes itself. So make 212 00:09:29,440 --> 00:09:31,439 Speaker 2: sure the customer experience is paramount. They didn't say the 213 00:09:31,480 --> 00:09:35,800 Speaker 2: customer is always right, but the customer experiences paramount. And 214 00:09:35,800 --> 00:09:39,000 Speaker 2: then from that free cash flow, your top line, your 215 00:09:39,000 --> 00:09:41,959 Speaker 2: bottom line, honestly, your bank balance. None of that matters. 216 00:09:42,040 --> 00:09:43,600 Speaker 2: Is your free cash lial. That matters when it comes 217 00:09:43,640 --> 00:09:45,719 Speaker 2: to business. How much money can you actually spend. I 218 00:09:45,720 --> 00:09:47,360 Speaker 2: don't care if I sold a widget for one thousand 219 00:09:47,400 --> 00:09:49,200 Speaker 2: dollars and I made two hundred bucks on it. Until 220 00:09:49,200 --> 00:09:51,000 Speaker 2: that money's in the bank and I can actually use it, 221 00:09:51,000 --> 00:09:53,840 Speaker 2: It's not real. It's just on paper. And so Besis 222 00:09:53,880 --> 00:09:55,840 Speaker 2: always focused on free cash flow. And you look at 223 00:09:55,880 --> 00:09:58,920 Speaker 2: Amazon's business, and that business is now They're incredible, They 224 00:09:58,920 --> 00:10:02,360 Speaker 2: are very incredibly profit and they are the bill of 225 00:10:02,360 --> 00:10:05,360 Speaker 2: the ball for the most part. And so those three things, 226 00:10:05,400 --> 00:10:07,480 Speaker 2: when you focus on that, they all then become this 227 00:10:07,600 --> 00:10:10,520 Speaker 2: flywheel where if you own everything, you create an incredible 228 00:10:10,520 --> 00:10:13,679 Speaker 2: customer experience. Your customers pay your bills, and that free 229 00:10:13,720 --> 00:10:15,560 Speaker 2: cash flow continues to get. Then invest in your people 230 00:10:15,559 --> 00:10:17,960 Speaker 2: who are now incentivized to own everything they do, and 231 00:10:18,000 --> 00:10:20,480 Speaker 2: that just continues to be gad itself, and that builds 232 00:10:20,480 --> 00:10:22,679 Speaker 2: an incredible business. Everything else that you do, whether it's 233 00:10:22,720 --> 00:10:26,160 Speaker 2: investing in technology, where's customer acquisition, all that comes down 234 00:10:26,200 --> 00:10:28,439 Speaker 2: to these three things. Own the experience, create a great 235 00:10:28,480 --> 00:10:30,760 Speaker 2: customer experience and make sure your money's right. 236 00:10:31,160 --> 00:10:34,079 Speaker 1: And so you know when you go into these brokers, 237 00:10:34,280 --> 00:10:37,280 Speaker 1: is there something that you see that is a common 238 00:10:37,400 --> 00:10:38,960 Speaker 1: mistake that a lot of brokers make. 239 00:10:40,080 --> 00:10:43,000 Speaker 2: Believing you're the magic. The CEO tends to believe they're 240 00:10:43,040 --> 00:10:44,760 Speaker 2: the magic. And it's not that you're not a great person. 241 00:10:44,760 --> 00:10:46,439 Speaker 2: Now that you have done great things, you hustle, you've 242 00:10:46,440 --> 00:10:48,480 Speaker 2: done like you've taken the step that the majority of 243 00:10:48,480 --> 00:10:51,040 Speaker 2: people will never do, and you started the business right awesome. 244 00:10:51,600 --> 00:10:54,200 Speaker 2: To scale it to what the majority of these individuals want, 245 00:10:54,240 --> 00:10:56,000 Speaker 2: you have to pass awful lot of things and that 246 00:10:56,080 --> 00:10:59,280 Speaker 2: is very difficult. And then you have to imbue these 247 00:10:59,400 --> 00:11:01,800 Speaker 2: three pillars to people and really find the ones that 248 00:11:01,880 --> 00:11:03,160 Speaker 2: are going to do it. And it's not always the 249 00:11:03,160 --> 00:11:06,200 Speaker 2: people you think are going to and so believing you're 250 00:11:06,240 --> 00:11:08,200 Speaker 2: the magic and believing you think you know everything is 251 00:11:08,240 --> 00:11:10,480 Speaker 2: really the mistake that we see and the ones that 252 00:11:10,679 --> 00:11:12,960 Speaker 2: humble themselves to that, whether it is listening to us 253 00:11:13,040 --> 00:11:15,120 Speaker 2: or someone else, it's not always a GLCs or Robert 254 00:11:15,160 --> 00:11:18,880 Speaker 2: Bain thing. It is understanding that you are not the secret. 255 00:11:19,240 --> 00:11:21,079 Speaker 2: Those people are the ones that go very very far 256 00:11:21,080 --> 00:11:21,680 Speaker 2: in this industry. 257 00:11:22,160 --> 00:11:25,800 Speaker 1: Got youa so on the brokerage industry. You know, I 258 00:11:25,800 --> 00:11:27,760 Speaker 1: guess it's good for you guys, because there's a highly 259 00:11:27,760 --> 00:11:30,440 Speaker 1: fragmented industry and there's a lot of smaller to mid 260 00:11:30,480 --> 00:11:32,920 Speaker 1: sized players out there, but it seems to be at 261 00:11:32,920 --> 00:11:35,560 Speaker 1: the top that is getting a little more consolidated. Kind 262 00:11:35,559 --> 00:11:38,160 Speaker 1: of what's your view on on consolidation with the industry. 263 00:11:38,200 --> 00:11:40,000 Speaker 1: Do you think it's going to be just the top, 264 00:11:40,080 --> 00:11:43,400 Speaker 1: Do you think that there's room like the market's going 265 00:11:43,400 --> 00:11:45,880 Speaker 1: to be consolidated or to your point, it's a lot 266 00:11:45,920 --> 00:11:48,160 Speaker 1: of it has to do with relationships, so it's kind 267 00:11:48,160 --> 00:11:50,319 Speaker 1: of easy to start a brokerage. So maybe it's always 268 00:11:50,360 --> 00:11:51,920 Speaker 1: going to be fragmented. 269 00:11:51,520 --> 00:11:54,480 Speaker 2: Right, So what I tell people with this is there 270 00:11:54,559 --> 00:11:57,679 Speaker 2: is always going to be a need for very specialty 271 00:11:57,720 --> 00:12:00,000 Speaker 2: type of movements. C. H. Robinson is not going to 272 00:12:00,040 --> 00:12:03,400 Speaker 2: go out and move human corpses as an example. I 273 00:12:03,480 --> 00:12:05,440 Speaker 2: make that joke only because that is actually a piece 274 00:12:05,440 --> 00:12:08,520 Speaker 2: of the business that people do specialize in, because I 275 00:12:08,559 --> 00:12:11,120 Speaker 2: mean move military folks. You have people that maybe they 276 00:12:11,120 --> 00:12:12,760 Speaker 2: passed away in New York, but they're from California and 277 00:12:12,760 --> 00:12:14,600 Speaker 2: there's a whole special process for this, and there are 278 00:12:14,600 --> 00:12:16,640 Speaker 2: folks that specialize in that, whereas Robinson may not do 279 00:12:16,640 --> 00:12:19,000 Speaker 2: that because it's not consistent and it's not something they 280 00:12:19,040 --> 00:12:21,599 Speaker 2: can really automate. So there's always gonna be an opportunity 281 00:12:21,640 --> 00:12:24,400 Speaker 2: for people to do very unique and special things. The 282 00:12:24,440 --> 00:12:27,520 Speaker 2: top will continue to kind of ebb and flow and consolidate. 283 00:12:27,800 --> 00:12:30,200 Speaker 2: We are very much in the age of consolidation, however, 284 00:12:31,160 --> 00:12:32,920 Speaker 2: because it is easier to fight together than it's to 285 00:12:32,920 --> 00:12:36,000 Speaker 2: fight alone, so you'll see consolidation. I also believe over 286 00:12:36,040 --> 00:12:38,160 Speaker 2: the next three to five years you're gonna see a 287 00:12:38,200 --> 00:12:42,400 Speaker 2: lot more strategic partnerships for actual murders acquisitions because people 288 00:12:42,440 --> 00:12:44,920 Speaker 2: do want to maintain the autonomy they built for their business, 289 00:12:45,480 --> 00:12:47,319 Speaker 2: and so you're gonna see a lot of these where 290 00:12:47,679 --> 00:12:51,239 Speaker 2: you'll see a brokerage and maybe a three pl warehousing 291 00:12:51,280 --> 00:12:55,360 Speaker 2: system that will combine their expertises and builds a cheat 292 00:12:55,400 --> 00:12:57,520 Speaker 2: to partnerships to help shippers or help maritime or whatever 293 00:12:57,520 --> 00:13:00,360 Speaker 2: they're going to do. Have you seen that to see 294 00:13:00,360 --> 00:13:02,559 Speaker 2: that a little bit? Yeah, yeah, I unfortun you can't 295 00:13:02,559 --> 00:13:03,960 Speaker 2: speak to too much of it, but yes, we are 296 00:13:04,000 --> 00:13:08,280 Speaker 2: seeing some of that. A good example is in Ryal, Illinois, 297 00:13:08,559 --> 00:13:11,800 Speaker 2: in Romeoville, there is a two huge warehouse districts out there, 298 00:13:11,880 --> 00:13:13,680 Speaker 2: and you're starting to see a couple of three pls 299 00:13:14,920 --> 00:13:17,480 Speaker 2: put up brokerage offices of there, then partnering as an 300 00:13:17,520 --> 00:13:20,199 Speaker 2: agent with some of the larger brokerages some of the 301 00:13:20,280 --> 00:13:20,959 Speaker 2: midsized ones. 302 00:13:21,559 --> 00:13:24,480 Speaker 1: So, you know, fraud's a big issue in the industry, 303 00:13:25,120 --> 00:13:28,640 Speaker 1: in brokerage and trucking. You know, how are you how 304 00:13:28,640 --> 00:13:32,200 Speaker 1: are you advising your clients to protect themselves from fraud 305 00:13:32,240 --> 00:13:36,040 Speaker 1: and fight fraud? What advice are you giving the brokers 306 00:13:36,080 --> 00:13:36,440 Speaker 1: out there? 307 00:13:36,679 --> 00:13:38,760 Speaker 2: So if the bad guys want to get your stuff, 308 00:13:38,760 --> 00:13:41,240 Speaker 2: they're kind to get it. We have found that throughout, 309 00:13:41,320 --> 00:13:44,719 Speaker 2: you know, the entirety of human existence. You just want 310 00:13:44,720 --> 00:13:46,319 Speaker 2: to make it more difficult for them to get it, 311 00:13:46,320 --> 00:13:47,720 Speaker 2: because then they'll go out to the person that's not 312 00:13:47,760 --> 00:13:52,040 Speaker 2: taking the precautions. So what do you do? You incorporate 313 00:13:52,120 --> 00:13:53,839 Speaker 2: different vetting systems. I think we're gonna talk about that 314 00:13:53,840 --> 00:13:55,240 Speaker 2: here in a little bit as well, specifically, so I 315 00:13:55,240 --> 00:13:57,280 Speaker 2: won't go two down that path yet. Do you want 316 00:13:57,280 --> 00:13:58,720 Speaker 2: to vet the carriers? You want to continue to vet 317 00:13:58,720 --> 00:14:00,040 Speaker 2: the carriage, You want to continue to monitor them, I 318 00:14:00,200 --> 00:14:02,800 Speaker 2: know them. You want to actually build relationships. It's not 319 00:14:02,840 --> 00:14:04,240 Speaker 2: the worst thing in the world to go to a 320 00:14:04,280 --> 00:14:08,000 Speaker 2: carrier's office and actually meet these people. There is a 321 00:14:08,040 --> 00:14:09,840 Speaker 2: difference in talking to someone on the phone or via 322 00:14:09,880 --> 00:14:12,960 Speaker 2: email versus breaking bread with them, and so that's an 323 00:14:12,960 --> 00:14:14,640 Speaker 2: important piece. The other thing, too is to look at 324 00:14:14,679 --> 00:14:17,360 Speaker 2: what are the high risk areas. You cannot control that 325 00:14:17,400 --> 00:14:20,800 Speaker 2: your shipper has a warehouse in Victorville, California. You also 326 00:14:20,840 --> 00:14:23,040 Speaker 2: cannot control that they're going to be in Fort Worth, Texas. 327 00:14:23,200 --> 00:14:25,160 Speaker 2: So knowing that, knowing where the high risk areas are, 328 00:14:25,200 --> 00:14:27,880 Speaker 2: take the precautions, take the extra time to vet the carriers, 329 00:14:27,960 --> 00:14:30,440 Speaker 2: but also put those precautions in place. For instance, you're 330 00:14:30,480 --> 00:14:34,160 Speaker 2: going into a either high visibility or high risk or 331 00:14:34,200 --> 00:14:37,640 Speaker 2: high value area. Good example, there's a large warehouse around 332 00:14:37,680 --> 00:14:40,840 Speaker 2: the Dallas area that is a lot of electronics. That 333 00:14:40,880 --> 00:14:44,240 Speaker 2: warehouse and all of their shipping partners all have these 334 00:14:44,280 --> 00:14:46,920 Speaker 2: same requirements of you cannot stop two hundred miles in 335 00:14:47,000 --> 00:14:49,520 Speaker 2: or two hundred miles out. They tell you simply what 336 00:14:49,520 --> 00:14:52,160 Speaker 2: fuel stops to not stop at. Because these are ones 337 00:14:52,160 --> 00:14:55,080 Speaker 2: that are already tracked and people are watching. Do I 338 00:14:55,080 --> 00:14:56,840 Speaker 2: see this specific type of seal cool? I know you've 339 00:14:56,880 --> 00:14:58,920 Speaker 2: got these electronics on. We're going to bust you down. 340 00:14:59,480 --> 00:15:02,400 Speaker 2: So knowing that they put these precautions in place, it 341 00:15:02,440 --> 00:15:04,440 Speaker 2: takes a little extra time, and there are carriers that 342 00:15:04,440 --> 00:15:05,680 Speaker 2: will say, well, I just don't want to deal with 343 00:15:05,720 --> 00:15:08,520 Speaker 2: all that extra mess. No problem, because you not wanting 344 00:15:08,560 --> 00:15:11,080 Speaker 2: to take the extra steps puts all of my free 345 00:15:11,120 --> 00:15:14,080 Speaker 2: am I relations with my customer at risk. So slowing 346 00:15:14,120 --> 00:15:16,920 Speaker 2: down to speed up is the overall theme of that 347 00:15:16,960 --> 00:15:20,440 Speaker 2: process of fraud prevention. There are a ton of great 348 00:15:20,440 --> 00:15:23,640 Speaker 2: tools out there, from fate Validate to Highway to care 349 00:15:23,800 --> 00:15:27,160 Speaker 2: for and one carriers. Sure, a lot of great products 350 00:15:27,160 --> 00:15:29,800 Speaker 2: out there, but ultimately it comes down to are your 351 00:15:29,800 --> 00:15:33,000 Speaker 2: people actually doing the process. And what you'll find is 352 00:15:33,040 --> 00:15:34,840 Speaker 2: you kind of peel back the onion is a lot 353 00:15:34,880 --> 00:15:38,000 Speaker 2: of folks do the very surface level where they checked 354 00:15:38,040 --> 00:15:39,720 Speaker 2: out three years ago when we set them up great. 355 00:15:39,800 --> 00:15:41,520 Speaker 2: What is changed in three years a lot and change 356 00:15:41,520 --> 00:15:42,040 Speaker 2: in three years. 357 00:15:42,560 --> 00:15:44,760 Speaker 1: Is there a story that you've heard of or come 358 00:15:44,800 --> 00:15:49,040 Speaker 1: across with about fraud that kind of like you scratched 359 00:15:49,040 --> 00:15:50,480 Speaker 1: your head or you were just like, oh my god, 360 00:15:50,520 --> 00:15:51,600 Speaker 1: I can't believe that happened. 361 00:15:51,880 --> 00:15:55,400 Speaker 2: Yeah, So a carrier, not a very well known carrier, 362 00:15:55,440 --> 00:15:59,280 Speaker 2: but a very reputable carrier, their information got hacked on 363 00:15:59,320 --> 00:16:02,360 Speaker 2: the fmcs website and so through that someone was able 364 00:16:02,360 --> 00:16:04,360 Speaker 2: to go in and change and they changed the email 365 00:16:04,360 --> 00:16:07,520 Speaker 2: to one letter difference, and now it was coming to 366 00:16:08,640 --> 00:16:10,840 Speaker 2: the bad guys, we'll call it that. And so they 367 00:16:10,920 --> 00:16:13,560 Speaker 2: were getting all this information about the freight and they 368 00:16:13,600 --> 00:16:17,040 Speaker 2: would send trucks in for their customers and they would 369 00:16:17,040 --> 00:16:20,480 Speaker 2: just steal stuff. And they were doing consolidation for Amazon, 370 00:16:20,520 --> 00:16:25,680 Speaker 2: for Temu, for some other different large retailers, and within 371 00:16:25,760 --> 00:16:28,480 Speaker 2: about ten days, about twenty million dollars for the product 372 00:16:28,560 --> 00:16:32,240 Speaker 2: was retail value was stolen. Yeah, before folks figured out that, 373 00:16:32,320 --> 00:16:34,200 Speaker 2: oh my gosh, like all this stuff go into this 374 00:16:34,240 --> 00:16:36,560 Speaker 2: email because it got changed on the FMCSA website and 375 00:16:36,600 --> 00:16:39,600 Speaker 2: so that passed through all of the different vetting tools 376 00:16:39,600 --> 00:16:42,520 Speaker 2: are out there, and that then led to the change 377 00:16:42,560 --> 00:16:44,000 Speaker 2: that I believe IOWA was the first one to put 378 00:16:44,040 --> 00:16:46,480 Speaker 2: in place of you get an alert every time your 379 00:16:46,560 --> 00:16:49,840 Speaker 2: main contact email changes through the FMCSA website. So then 380 00:16:49,880 --> 00:16:52,320 Speaker 2: you go and you track, hey, did you change this 381 00:16:52,440 --> 00:16:55,000 Speaker 2: you know bob it Bob's trucking. No, I didn't change anything. 382 00:16:55,040 --> 00:16:56,960 Speaker 2: Well cool, the FMCSA thinks you did, so you need 383 00:16:56,960 --> 00:16:59,400 Speaker 2: to check into that. But again that was a twenty 384 00:16:59,440 --> 00:17:04,160 Speaker 2: million dollar issue. Another that I saw was the bad 385 00:17:04,200 --> 00:17:07,199 Speaker 2: guys were working in conjunction with the shipping warehouse, and 386 00:17:07,240 --> 00:17:10,120 Speaker 2: so what they would do is they would actually split 387 00:17:10,200 --> 00:17:12,399 Speaker 2: an order as it would look like it was one 388 00:17:12,440 --> 00:17:18,160 Speaker 2: hundred TVs on the on the bol However, when the 389 00:17:18,200 --> 00:17:21,000 Speaker 2: truck arrived for delivery, it was only seventy and they 390 00:17:21,040 --> 00:17:22,639 Speaker 2: would just scratch it out and they would change it. 391 00:17:23,359 --> 00:17:25,280 Speaker 2: This went on over two years. And actually heard this 392 00:17:25,320 --> 00:17:27,919 Speaker 2: through a truck and company that we partnered with up 393 00:17:27,920 --> 00:17:31,239 Speaker 2: in Minnesota. And finally when it was found out what 394 00:17:31,280 --> 00:17:34,359 Speaker 2: had gone on, the truck coming done everything right, all 395 00:17:34,400 --> 00:17:37,480 Speaker 2: the b well, everything matched, everything was done perfectly. Unfortunately, 396 00:17:37,480 --> 00:17:38,960 Speaker 2: as it went through the legal system, they were on 397 00:17:39,000 --> 00:17:42,720 Speaker 2: the hook for approximately twenty two million dollars initially and 398 00:17:42,760 --> 00:17:44,680 Speaker 2: then it got whittled down to it was a small 399 00:17:44,680 --> 00:17:48,280 Speaker 2: seven figure settlement they paid out, but ultimately you've got 400 00:17:48,680 --> 00:17:51,119 Speaker 2: hundreds and hundreds of pieces of electronics that got stolen 401 00:17:51,640 --> 00:17:54,440 Speaker 2: and no one had any idea until finally somebody didn't 402 00:17:54,480 --> 00:17:56,200 Speaker 2: scratch off a number all the way right. 403 00:17:56,640 --> 00:17:58,760 Speaker 1: And you know, I asked you the question earlier, like, 404 00:17:58,800 --> 00:18:00,720 Speaker 1: you know, what is what is the minimum that a 405 00:18:01,080 --> 00:18:05,880 Speaker 1: broker needs. So the minimum are one of these platforms 406 00:18:05,920 --> 00:18:09,840 Speaker 1: that kind of you know, prevents fraud. Whether you know 407 00:18:09,880 --> 00:18:12,840 Speaker 1: you mentioned Highway, which we we had someone from their 408 00:18:12,880 --> 00:18:16,160 Speaker 1: executive Mia Michael Chani, Yeah, on the on the podcast. 409 00:18:16,160 --> 00:18:17,720 Speaker 1: So if you're interested to hear more about fraud, you 410 00:18:17,720 --> 00:18:21,919 Speaker 1: should go back and listen. So that's kind of like 411 00:18:21,960 --> 00:18:23,600 Speaker 1: the basics that that people need. 412 00:18:23,720 --> 00:18:26,679 Speaker 2: Yep. Absolutely, But it comes down to that the technology 413 00:18:27,240 --> 00:18:29,359 Speaker 2: is incredibly important because that's going to help you continue 414 00:18:29,359 --> 00:18:31,440 Speaker 2: to monitor. But those initial steps of like do you 415 00:18:31,480 --> 00:18:33,360 Speaker 2: actually know who you're doing business with? That is incredibly 416 00:18:33,400 --> 00:18:34,160 Speaker 2: important and. 417 00:18:34,160 --> 00:18:36,399 Speaker 1: To vet a carrier, So what is that process like? 418 00:18:36,720 --> 00:18:38,640 Speaker 2: So we do with that. We actually have a whole 419 00:18:38,640 --> 00:18:40,280 Speaker 2: process with this. I won't give away all the secret 420 00:18:40,320 --> 00:18:43,320 Speaker 2: sauce with GLCs, but we look at, you know, who 421 00:18:43,320 --> 00:18:45,760 Speaker 2: the carrier is, doesn't match up with the FMCSA information. 422 00:18:45,880 --> 00:18:48,000 Speaker 2: We match it up alongside care for on one carrier 423 00:18:48,080 --> 00:18:51,159 Speaker 2: sure and with Highway UH. And then we actually go 424 00:18:51,160 --> 00:18:54,840 Speaker 2: through and we have different ways to validate this with 425 00:18:53,680 --> 00:18:57,240 Speaker 2: UH with our proker clients. So you do a v email, 426 00:18:57,320 --> 00:19:00,320 Speaker 2: VYF phone number and again we ultimately tell people once 427 00:19:00,359 --> 00:19:02,160 Speaker 2: you start doing business somebody when you hit a certain 428 00:19:02,200 --> 00:19:04,040 Speaker 2: number of loads. Again, that's going to be a threshold 429 00:19:04,040 --> 00:19:06,439 Speaker 2: that every brokerage decides on go meet these people or 430 00:19:06,440 --> 00:19:08,679 Speaker 2: invite them to your office. One of the most important 431 00:19:08,720 --> 00:19:10,160 Speaker 2: things I have found is that if someone's not willing 432 00:19:10,200 --> 00:19:12,080 Speaker 2: to sit down with you and discuss business and how 433 00:19:12,080 --> 00:19:14,800 Speaker 2: to grow together, it's not a deal breaker, but it's 434 00:19:14,800 --> 00:19:17,280 Speaker 2: a red flag, right And especially a lot of these 435 00:19:17,320 --> 00:19:20,080 Speaker 2: cares who are they're all clamoring for business. If someone's 436 00:19:20,080 --> 00:19:21,360 Speaker 2: willing to say, hey, I'll give you more, if you're 437 00:19:21,400 --> 00:19:22,600 Speaker 2: kind of come a meet with me, and they're not 438 00:19:22,640 --> 00:19:24,960 Speaker 2: willing to do that's usually a bad sign. 439 00:19:26,080 --> 00:19:27,680 Speaker 1: And you know, shifting gears a little bit about the 440 00:19:27,720 --> 00:19:29,919 Speaker 1: trucking market. You know, the rates have been pretty depressed 441 00:19:29,960 --> 00:19:31,480 Speaker 1: for a long time. You know they've gone up a 442 00:19:31,520 --> 00:19:35,720 Speaker 1: little bit, but it's mostly sideways for a while. You know, 443 00:19:36,640 --> 00:19:38,600 Speaker 1: what do you what do you think needs to happen 444 00:19:38,720 --> 00:19:41,720 Speaker 1: for rates to move higher? Is it going to be 445 00:19:41,720 --> 00:19:43,800 Speaker 1: on the supply side or the demand side? 446 00:19:43,880 --> 00:19:47,360 Speaker 2: Demand? Right now, we have such a glut of capacity 447 00:19:47,640 --> 00:19:50,000 Speaker 2: that what we need to have, and I've been talking 448 00:19:50,000 --> 00:19:51,439 Speaker 2: about this for a couple of years now, is is 449 00:19:51,560 --> 00:19:54,120 Speaker 2: a calling of capacity. So I don't like to see 450 00:19:54,119 --> 00:19:56,760 Speaker 2: businesses go down and people go out of business. That 451 00:19:56,920 --> 00:19:58,520 Speaker 2: unfortunately what we need to have We need trucks off 452 00:19:58,520 --> 00:20:01,320 Speaker 2: the road. Yeah, I have a shortage truck drivers. We 453 00:20:01,400 --> 00:20:05,359 Speaker 2: have an underutilization of them which is terrible. But also 454 00:20:05,400 --> 00:20:07,120 Speaker 2: we have we have so many trucks that around the road. 455 00:20:07,320 --> 00:20:08,960 Speaker 2: And the reality is this is there are a lot 456 00:20:09,080 --> 00:20:12,760 Speaker 2: of financial institutions that are not calling notes on I 457 00:20:12,800 --> 00:20:15,199 Speaker 2: think we act to talk about this at TMSA that 458 00:20:15,280 --> 00:20:17,119 Speaker 2: are not calling notes on trucks. And so there are 459 00:20:17,119 --> 00:20:19,080 Speaker 2: trucks out there that are not being paid for that 460 00:20:19,480 --> 00:20:21,159 Speaker 2: they would rather just keep them running because at some 461 00:20:21,160 --> 00:20:23,919 Speaker 2: point the industry will turn well, that continues to extend 462 00:20:23,960 --> 00:20:26,200 Speaker 2: out this recession and we keep bouncing along the bottom 463 00:20:26,280 --> 00:20:29,119 Speaker 2: like you talked about. Because if I don't have to 464 00:20:29,160 --> 00:20:31,240 Speaker 2: pay my truck pay I mean that's anywhere from twenty 465 00:20:31,280 --> 00:20:33,120 Speaker 2: five hundred and four thousand dollars a month I don't 466 00:20:33,119 --> 00:20:35,040 Speaker 2: have to pay. I'm not paying it right Why what 467 00:20:35,840 --> 00:20:36,760 Speaker 2: goes right to my bottom line? 468 00:20:37,400 --> 00:20:41,199 Speaker 1: And you know, the Trump administration has been pretty adamant about, 469 00:20:42,119 --> 00:20:46,320 Speaker 1: you know, increasing or improving the enforcement of English proficiency 470 00:20:46,960 --> 00:20:50,920 Speaker 1: amongst truck drivers. We had Derek Leathers on the podcast 471 00:20:51,040 --> 00:20:53,680 Speaker 1: last week, and he's thought that it's going to take 472 00:20:53,720 --> 00:20:57,199 Speaker 1: out five to fifteen percent of capacity. What do you 473 00:20:57,200 --> 00:20:58,679 Speaker 1: think about that? Do you think it's going to make 474 00:20:58,680 --> 00:21:02,159 Speaker 1: a dent or you just don't think Maybe much is 475 00:21:02,200 --> 00:21:03,920 Speaker 1: going to change in the enforcement side. 476 00:21:04,200 --> 00:21:06,080 Speaker 2: I don't know that much will change the enforcement side, 477 00:21:06,080 --> 00:21:08,520 Speaker 2: because ultimately enforcement comes down to the individual unless are 478 00:21:08,560 --> 00:21:12,880 Speaker 2: real We've all seen how different individuals will execute enforcement 479 00:21:13,520 --> 00:21:15,960 Speaker 2: and no pun intended. You know. I'm not trying to 480 00:21:15,960 --> 00:21:19,479 Speaker 2: make light of how law enforcement sometimes interacts with the public, 481 00:21:19,720 --> 00:21:21,680 Speaker 2: but ultimately it does come down to that individual. If 482 00:21:21,720 --> 00:21:24,720 Speaker 2: they believe this person has good intention, they may still 483 00:21:24,800 --> 00:21:27,119 Speaker 2: let them go. Yeah, because who ultimately is going to 484 00:21:27,200 --> 00:21:30,160 Speaker 2: call them out of that? Nobody got and so we'll 485 00:21:30,359 --> 00:21:32,080 Speaker 2: take out some Where I do think we may have 486 00:21:32,119 --> 00:21:35,880 Speaker 2: potential issues with a large drop off in a driver 487 00:21:35,960 --> 00:21:39,840 Speaker 2: capacity is if visas start being rescinded. We've talked about already, 488 00:21:39,840 --> 00:21:43,200 Speaker 2: and this administration has talked about stopping new visas for 489 00:21:43,359 --> 00:21:46,040 Speaker 2: professional drivers. If they start rescinding visas, that's a whole 490 00:21:46,040 --> 00:21:48,920 Speaker 2: different issue where you have depending on the numbers you read, 491 00:21:48,960 --> 00:21:53,520 Speaker 2: thirty to sixty percent of professional drivers or immigrants, and 492 00:21:53,560 --> 00:21:56,960 Speaker 2: whether it's from Eastern Europe, South America, from Asia. So 493 00:21:57,680 --> 00:21:59,680 Speaker 2: knowing that if all of a sudden, even half of 494 00:21:59,720 --> 00:22:02,240 Speaker 2: those suddenly have a visa risc ended, that is a 495 00:22:02,320 --> 00:22:04,080 Speaker 2: large number of people that are some that behind the wheel. 496 00:22:04,600 --> 00:22:11,960 Speaker 1: Wow, that's that is very interesting. So what are your clients, 497 00:22:12,000 --> 00:22:14,520 Speaker 1: whether it's on the brokerage side or even your trucking 498 00:22:14,520 --> 00:22:16,639 Speaker 1: friends telling you about peak season. 499 00:22:18,200 --> 00:22:21,240 Speaker 2: The last two to three peak seasons have been very muted, 500 00:22:21,400 --> 00:22:23,960 Speaker 2: and they anticipate a very muted one this year. Consumer 501 00:22:24,000 --> 00:22:27,560 Speaker 2: spending is not great, consumer confidence is not great. Let's 502 00:22:27,560 --> 00:22:30,159 Speaker 2: call it what it is. We we all walk through 503 00:22:30,200 --> 00:22:32,760 Speaker 2: the grocery store and we probably pick out less things 504 00:22:32,800 --> 00:22:35,120 Speaker 2: at the checkout aule that we used to. So we're 505 00:22:35,119 --> 00:22:36,720 Speaker 2: worried about money. We talked about Larry, you know, we 506 00:22:36,760 --> 00:22:39,760 Speaker 2: both got older kids. College is not getting be cheaper, 507 00:22:39,800 --> 00:22:44,439 Speaker 2: and so knowing that we are as Americans, we are 508 00:22:44,520 --> 00:22:45,840 Speaker 2: very much kind of holding on to a little bit 509 00:22:45,840 --> 00:22:48,440 Speaker 2: of cash. So that said, we're not going to spend 510 00:22:48,440 --> 00:22:50,400 Speaker 2: as much during the holiday season. And you also see 511 00:22:50,400 --> 00:22:52,120 Speaker 2: a large you know, if you look at social media 512 00:22:52,119 --> 00:22:53,840 Speaker 2: and kind of how some of those trends are people 513 00:22:53,880 --> 00:22:56,240 Speaker 2: are pushing away from things necessarily, it's very much more 514 00:22:56,280 --> 00:22:59,280 Speaker 2: about experiences. Well, experiences don't write on trucks necessarily, though 515 00:22:59,280 --> 00:23:01,480 Speaker 2: I will recommend aybody who ever liss go ride in 516 00:23:01,480 --> 00:23:02,640 Speaker 2: a truck some time. It's pretty cool. 517 00:23:03,720 --> 00:23:07,000 Speaker 1: Absolutely, I've done a couple ride along in the past. 518 00:23:08,560 --> 00:23:10,720 Speaker 1: So I'm gonna gonna shift gears a little bit about 519 00:23:10,800 --> 00:23:14,119 Speaker 1: yeah little now and talk about something else. You know, 520 00:23:14,119 --> 00:23:17,000 Speaker 1: you have an alter ego within the transportation space. You're 521 00:23:17,280 --> 00:23:20,560 Speaker 1: known as the strongest man of logistics. So let's and 522 00:23:21,080 --> 00:23:24,840 Speaker 1: for those listening, you know, I'm the seventh weakest man 523 00:23:24,920 --> 00:23:28,520 Speaker 1: in logistics. So can we Can you talk about you know, 524 00:23:28,760 --> 00:23:31,840 Speaker 1: how you got that name and kind of your passion 525 00:23:32,200 --> 00:23:34,000 Speaker 1: outside of the transportation world. 526 00:23:34,119 --> 00:23:36,960 Speaker 2: Sure, you know, it's always kind of funny to talk 527 00:23:36,960 --> 00:23:39,840 Speaker 2: about it because I don't mind talking about myself. But 528 00:23:40,640 --> 00:23:42,760 Speaker 2: I came up with this whole concept of the strongest 529 00:23:42,760 --> 00:23:45,119 Speaker 2: man logistics because I didn't want to as be an 530 00:23:45,119 --> 00:23:47,960 Speaker 2: operator for the rest of my life. So I looked at, 531 00:23:48,040 --> 00:23:49,800 Speaker 2: you know, kind of where my life was, what I do, 532 00:23:49,920 --> 00:23:51,639 Speaker 2: and you know, what is it unique about me and 533 00:23:51,880 --> 00:23:53,880 Speaker 2: the realities? I am strong. I am very very strong. 534 00:23:53,960 --> 00:23:58,119 Speaker 2: I started powerlifting gosh twelve thirteen years ago. I'd always 535 00:23:58,119 --> 00:24:01,200 Speaker 2: lifted weights. I played college and high school soccer. I 536 00:24:01,200 --> 00:24:03,680 Speaker 2: plt a little professional soccer after that, and I always 537 00:24:03,720 --> 00:24:05,359 Speaker 2: have to wait for sport. And then as I got 538 00:24:05,400 --> 00:24:07,480 Speaker 2: done with that, and it's kind of continued all with 539 00:24:07,480 --> 00:24:09,240 Speaker 2: my life, I continued to be in the gym. I 540 00:24:09,320 --> 00:24:11,119 Speaker 2: liked being strong. The whole concept of it was always 541 00:24:11,160 --> 00:24:14,119 Speaker 2: neat to me. And I got bulleting to do my 542 00:24:14,119 --> 00:24:18,960 Speaker 2: first powerlifting meet in twenty fourteen, and the rest is history. 543 00:24:19,000 --> 00:24:20,639 Speaker 2: I fell in love with the sport. It was a 544 00:24:20,680 --> 00:24:24,760 Speaker 2: phenomenal experience, and I turned out I was pretty good 545 00:24:24,760 --> 00:24:26,119 Speaker 2: at it, and I got around a great team that 546 00:24:27,040 --> 00:24:30,679 Speaker 2: has helped me progress in that. And it comes to 547 00:24:30,720 --> 00:24:34,560 Speaker 2: twenty twenty, where you know, the world shuts down, but 548 00:24:34,640 --> 00:24:36,320 Speaker 2: as I like to joke, that strength didn't. And so 549 00:24:36,920 --> 00:24:39,200 Speaker 2: after the first two weeks to quote unquote flatten the curve, 550 00:24:40,160 --> 00:24:41,720 Speaker 2: we knew we were gonna be home for a lot longer. 551 00:24:41,720 --> 00:24:44,359 Speaker 2: So I went and rented equipment from my friends that 552 00:24:44,440 --> 00:24:46,680 Speaker 2: had gyms so they could keep revenue coming in during 553 00:24:46,680 --> 00:24:48,960 Speaker 2: the pandemic, because all especially in Illinois, all of the 554 00:24:49,920 --> 00:24:52,199 Speaker 2: gyms were shut down. So I could go, So I 555 00:24:52,200 --> 00:24:54,720 Speaker 2: rented a power rack I ran a bar, so rented bleats, 556 00:24:54,720 --> 00:24:56,840 Speaker 2: a bench, all the different things I would need to 557 00:24:56,880 --> 00:25:00,119 Speaker 2: train for as long as we were home right, And 558 00:25:01,440 --> 00:25:04,240 Speaker 2: on April twenty ninth of twenty twenty, I was deadlifting 559 00:25:04,240 --> 00:25:09,760 Speaker 2: to my garage and deadlifting against bands and got to 560 00:25:09,800 --> 00:25:12,040 Speaker 2: the very top of the movement and in my inner 561 00:25:12,080 --> 00:25:15,160 Speaker 2: ear heard a and that was my left distal tendant 562 00:25:15,320 --> 00:25:19,920 Speaker 2: rupturing off my forum. And yeah, that didn't hurt as much. 563 00:25:20,640 --> 00:25:22,320 Speaker 2: It was then when the muscle tried to roll up 564 00:25:22,400 --> 00:25:25,280 Speaker 2: that hurt. That did not feel good. Did not feel good. 565 00:25:25,359 --> 00:25:26,919 Speaker 2: And so that's kind of set me into this bit 566 00:25:26,960 --> 00:25:29,000 Speaker 2: of a depressive cycle because I had not ever been 567 00:25:29,040 --> 00:25:33,119 Speaker 2: injured before, and I knew from an athlete perspective my 568 00:25:33,160 --> 00:25:35,840 Speaker 2: advanced age in my late thirties, this could have spelled 569 00:25:35,840 --> 00:25:38,159 Speaker 2: the end for a highly competitive career because even at 570 00:25:38,160 --> 00:25:39,800 Speaker 2: that time, I was one of the best powerlifters in 571 00:25:39,800 --> 00:25:43,359 Speaker 2: the raw community at the time, and so I was 572 00:25:43,440 --> 00:25:45,359 Speaker 2: very depressed. I was, to be fair, I was drinking 573 00:25:45,359 --> 00:25:47,960 Speaker 2: a lot, I was barely doing my work, and I 574 00:25:48,000 --> 00:25:49,959 Speaker 2: remember sitting in my garage crying one night and I 575 00:25:50,000 --> 00:25:51,200 Speaker 2: got a phone call from a friend of mine. His 576 00:25:51,320 --> 00:25:53,679 Speaker 2: name was Tray Griggs. Another great guy in the space, 577 00:25:53,720 --> 00:25:56,320 Speaker 2: and he was just being a good friend. And Trey 578 00:25:56,320 --> 00:25:58,199 Speaker 2: said to me, he man, you're going to get through this. 579 00:25:58,640 --> 00:26:00,880 Speaker 2: The world's going to open again, and I'll be okay, 580 00:26:01,040 --> 00:26:04,640 Speaker 2: And you're like the strongest guy I know, and you've 581 00:26:04,640 --> 00:26:07,600 Speaker 2: got to be the strongest mand Logistics. And it was 582 00:26:07,600 --> 00:26:09,760 Speaker 2: like a freight train hit me like that, That's what 583 00:26:09,800 --> 00:26:14,679 Speaker 2: it is, that's who I am. And I mold on 584 00:26:14,720 --> 00:26:17,639 Speaker 2: that for about a year and then just changed my 585 00:26:17,960 --> 00:26:21,560 Speaker 2: LinkedIn title, got some flag for it, which is fine. 586 00:26:22,680 --> 00:26:24,600 Speaker 2: But then I started telling people the numbers and I 587 00:26:24,600 --> 00:26:26,480 Speaker 2: started actually posting some of my training, some of my 588 00:26:26,520 --> 00:26:29,239 Speaker 2: competition lifts on LinkedIn. I would did this on other 589 00:26:29,320 --> 00:26:32,080 Speaker 2: social media platforms because that was what I was doing. 590 00:26:32,720 --> 00:26:36,160 Speaker 2: And I told people very openly, if you have anybody else, 591 00:26:36,200 --> 00:26:37,919 Speaker 2: and I'll update the numbers now, if you have anybody 592 00:26:37,920 --> 00:26:40,160 Speaker 2: else that can squad eleven fifty one, bench six eleven 593 00:26:40,280 --> 00:26:42,920 Speaker 2: or deadlift seven to ten, more than happy to have 594 00:26:43,040 --> 00:26:45,320 Speaker 2: my title over. But now for the last four years, 595 00:26:45,359 --> 00:26:46,159 Speaker 2: no one, no one's done it. 596 00:26:46,200 --> 00:26:48,320 Speaker 1: So I don't mean to impress you. The other day 597 00:26:48,400 --> 00:26:49,520 Speaker 1: I benched ninety pounds. 598 00:26:49,600 --> 00:26:53,720 Speaker 2: I love it. I love it. Yeah, So that became 599 00:26:53,760 --> 00:26:57,000 Speaker 2: a whole thing. And so then I made a decision 600 00:26:57,040 --> 00:26:59,440 Speaker 2: in twenty twenty three that I was going to post 601 00:26:59,560 --> 00:27:02,359 Speaker 2: something on LinkedIn every single day. I wanted to make 602 00:27:02,440 --> 00:27:04,199 Speaker 2: use of the platform. As I started doing that, and 603 00:27:04,240 --> 00:27:06,960 Speaker 2: I created this whole Fitness Friday thing, and I started 604 00:27:06,960 --> 00:27:09,920 Speaker 2: equating different things in my training, two different business concepts, 605 00:27:10,960 --> 00:27:14,159 Speaker 2: which actually was working on one before we came here today, 606 00:27:14,280 --> 00:27:16,840 Speaker 2: on kind of the overall operation of a brokerage over 607 00:27:16,840 --> 00:27:19,160 Speaker 2: a truck and company, how that relates to the operation 608 00:27:19,359 --> 00:27:22,840 Speaker 2: of a powerlifter so you're training, and how it relates 609 00:27:22,840 --> 00:27:25,159 Speaker 2: to sales and operations, nutrition, and how that relates to 610 00:27:25,200 --> 00:27:28,359 Speaker 2: like technology. And so I had this whole series of 611 00:27:28,400 --> 00:27:32,040 Speaker 2: posts and I'll be doing so about that. But being 612 00:27:32,040 --> 00:27:33,960 Speaker 2: able to pull those things together it helped kind of 613 00:27:34,320 --> 00:27:36,480 Speaker 2: humanize me, but also it connected a lot of business 614 00:27:36,520 --> 00:27:39,400 Speaker 2: leaders to oh, like, these are very simple concepts, and 615 00:27:39,440 --> 00:27:41,399 Speaker 2: I've now got any signific number people to say, hey, like, 616 00:27:41,400 --> 00:27:43,000 Speaker 2: I've actually been motivated to get back in the gym 617 00:27:43,000 --> 00:27:46,280 Speaker 2: because I see you doing it. It's now become a 618 00:27:46,320 --> 00:27:48,399 Speaker 2: whole thing of like a brand and there's a logo 619 00:27:48,520 --> 00:27:51,800 Speaker 2: and there's now some financial, you know, pieces to it. Too, 620 00:27:51,800 --> 00:27:54,080 Speaker 2: which has been really really fun of and as you saw, 621 00:27:54,080 --> 00:27:55,520 Speaker 2: have been called in to speak and talk about the 622 00:27:55,520 --> 00:27:57,399 Speaker 2: brand itself and building a personal brand and how that 623 00:27:57,480 --> 00:28:01,440 Speaker 2: intertwines with a corporate brand and how it has helped augment 624 00:28:01,720 --> 00:28:04,600 Speaker 2: GLCs because again that notoriety that I have and so 625 00:28:05,680 --> 00:28:07,639 Speaker 2: it happens to be a very unique skill that I 626 00:28:07,680 --> 00:28:10,040 Speaker 2: have of being strong, but I've been able to parlay 627 00:28:10,080 --> 00:28:12,119 Speaker 2: that into something that then also augments my career. And 628 00:28:12,160 --> 00:28:15,119 Speaker 2: so it's been an incredible experience so far. And it 629 00:28:15,200 --> 00:28:16,879 Speaker 2: was interesting as we were in the hotel kind of 630 00:28:16,880 --> 00:28:21,040 Speaker 2: prepping for today, the kind of stage two of that 631 00:28:21,119 --> 00:28:23,960 Speaker 2: you know, Strongest Manalytics two point zero is really starting 632 00:28:23,960 --> 00:28:27,320 Speaker 2: to take off right now and it's very very exciting, awesome, awesome. 633 00:28:27,800 --> 00:28:29,399 Speaker 1: So do you have a goal of how much you 634 00:28:29,440 --> 00:28:30,480 Speaker 1: want to be able to lift? 635 00:28:31,480 --> 00:28:35,200 Speaker 2: So the goals always change? Yeah, So right now again 636 00:28:35,240 --> 00:28:36,840 Speaker 2: to give I like to give context where I can. 637 00:28:36,960 --> 00:28:40,040 Speaker 2: So in my weight class, I compete the two seventy 638 00:28:40,040 --> 00:28:42,040 Speaker 2: five pound weight class one hundred and twenty five kilos 639 00:28:42,040 --> 00:28:45,200 Speaker 2: for all of our friends overseas, I am the number 640 00:28:45,280 --> 00:28:49,520 Speaker 2: seven all time squad ever in human history, which is cool. 641 00:28:50,000 --> 00:28:52,400 Speaker 2: All weight classes, I am the number twenty nine all 642 00:28:52,440 --> 00:28:55,600 Speaker 2: time squad and I take great bride in that I 643 00:28:55,600 --> 00:28:58,440 Speaker 2: want to continue moving up that list. Ultimately, it's a 644 00:28:58,560 --> 00:29:01,880 Speaker 2: spreadsheet online, so we joke about like powerlift is not real, 645 00:29:01,920 --> 00:29:03,840 Speaker 2: It's just a bunch of numbers on the internet. 646 00:29:04,480 --> 00:29:05,160 Speaker 1: Take at TMS. 647 00:29:05,240 --> 00:29:08,360 Speaker 2: Basically, yeah, it's a really fancy spreadsheet. Is all openpowerlifting 648 00:29:08,360 --> 00:29:12,320 Speaker 2: dot org is. But yeah, so I want to get 649 00:29:12,360 --> 00:29:14,480 Speaker 2: into some of these very elite clubs. So the thousand 650 00:29:14,480 --> 00:29:16,560 Speaker 2: Pounds Squad Club, which I joined in twenty twenty two, 651 00:29:16,640 --> 00:29:20,320 Speaker 2: I was the three hundred and eighty seventh member. Again, 652 00:29:20,480 --> 00:29:24,200 Speaker 2: context over a million people finish a marathon every single year, 653 00:29:24,840 --> 00:29:26,800 Speaker 2: and less than foreigner people have ever squaded one thousand 654 00:29:26,800 --> 00:29:30,440 Speaker 2: pounds in competition. Last year I joined the eleven hundre 655 00:29:30,440 --> 00:29:33,040 Speaker 2: pound Squad Club. I was the eighty second person to 656 00:29:33,040 --> 00:29:36,000 Speaker 2: ever do it. And right now I am. And I 657 00:29:35,800 --> 00:29:37,360 Speaker 2: took my swing in July. I was hoping I was 658 00:29:37,360 --> 00:29:39,840 Speaker 2: going able to talk about that here today. But I 659 00:29:39,880 --> 00:29:42,720 Speaker 2: am looking to become the twentieth member of the twelve 660 00:29:42,760 --> 00:29:45,120 Speaker 2: hundred pound Squad Club, and very soon I will also 661 00:29:45,160 --> 00:29:48,640 Speaker 2: be the fourth member of the thirteen hundred pound Squad Club. 662 00:29:48,680 --> 00:29:50,320 Speaker 2: So I'm very very focused to on my squad because 663 00:29:50,320 --> 00:29:53,600 Speaker 2: I was pilled for it. Yeah, I'm very very close 664 00:29:53,600 --> 00:29:55,320 Speaker 2: to a seven hundred pound bench and then eventually we 665 00:29:55,320 --> 00:29:57,640 Speaker 2: will take a run at an hundred pound deadlift. So 666 00:29:57,800 --> 00:30:00,160 Speaker 2: when it's all said and done, you know, I will 667 00:30:00,200 --> 00:30:02,240 Speaker 2: have a at least in my weight class, a top 668 00:30:02,280 --> 00:30:04,360 Speaker 2: five all time total, and if I do the things 669 00:30:04,360 --> 00:30:06,600 Speaker 2: I'm supposed to do in all weight classes, I will 670 00:30:06,640 --> 00:30:07,520 Speaker 2: be in the top ten all time. 671 00:30:08,000 --> 00:30:11,760 Speaker 1: Awesome, awesome man. And this is an audio podcast, so uh, 672 00:30:11,960 --> 00:30:15,200 Speaker 1: for the benefit of those Uh, Robert could break me 673 00:30:15,320 --> 00:30:18,560 Speaker 1: in half very easily. It's probably you could probably squat me. 674 00:30:19,360 --> 00:30:20,960 Speaker 2: I could squtch. I can definitely squatch a couple of times. 675 00:30:21,000 --> 00:30:22,600 Speaker 1: Yeah, maybe we'll do that at the time. 676 00:30:22,720 --> 00:30:23,280 Speaker 2: Yeah. 677 00:30:23,440 --> 00:30:25,600 Speaker 1: You know, you talked about the books that you like 678 00:30:25,680 --> 00:30:29,560 Speaker 1: from but you know, are there books specifically about transportation 679 00:30:29,840 --> 00:30:33,760 Speaker 1: that you've read that you think are interesting? Because you know, 680 00:30:33,800 --> 00:30:36,200 Speaker 1: you gave some great examples you know that we're going 681 00:30:36,280 --> 00:30:40,080 Speaker 1: to share, you know, in addition to this podcast. So, 682 00:30:40,080 --> 00:30:42,360 Speaker 1: but are there any ones about the trucking industry that 683 00:30:42,400 --> 00:30:43,320 Speaker 1: are like close to your heart? 684 00:30:43,880 --> 00:30:46,320 Speaker 2: So a couple and feel free to laugh at this 685 00:30:46,360 --> 00:30:50,200 Speaker 2: supply chain for dummies. Okay, phenomenal. What a great overview 686 00:30:50,240 --> 00:30:53,560 Speaker 2: of just everything when it comes to transportation, supply, chain, warehousing. 687 00:30:53,800 --> 00:30:54,320 Speaker 2: It was great. 688 00:30:55,200 --> 00:30:55,480 Speaker 1: Uh. 689 00:30:55,520 --> 00:30:58,280 Speaker 2: And then a Trucker's Tale told from the point of 690 00:30:58,320 --> 00:31:01,040 Speaker 2: view of a professional driver. I've been driving for I 691 00:31:01,080 --> 00:31:05,560 Speaker 2: believe it's almost sixty years. Unbelievable. Obviously some of the 692 00:31:05,600 --> 00:31:07,840 Speaker 2: stories from that, you know, the things you want one 693 00:31:07,840 --> 00:31:12,920 Speaker 2: would see on the road, and but just the thoughts 694 00:31:12,960 --> 00:31:17,840 Speaker 2: and the way that these individuals go about their life, 695 00:31:17,920 --> 00:31:20,200 Speaker 2: it is incredible. Yeah. And then talk about ultimately, and 696 00:31:20,240 --> 00:31:22,640 Speaker 2: it boils down to what does this person want. I 697 00:31:22,680 --> 00:31:24,920 Speaker 2: want to get up in the morning, make a living 698 00:31:24,920 --> 00:31:27,920 Speaker 2: for my family and make sure that I can see 699 00:31:27,920 --> 00:31:30,320 Speaker 2: them when I get home. No different than any of us. Yeah, 700 00:31:30,360 --> 00:31:35,040 Speaker 2: And that was a very important and connecting moment for 701 00:31:35,160 --> 00:31:37,800 Speaker 2: me with professional drivers. I've always been very passionate about 702 00:31:37,800 --> 00:31:42,000 Speaker 2: the American professional driver and it was just really really 703 00:31:42,000 --> 00:31:44,720 Speaker 2: cool to to why listen to it as an audiobook, 704 00:31:44,720 --> 00:31:46,840 Speaker 2: but then went and read it to and it was 705 00:31:46,840 --> 00:31:49,920 Speaker 2: just very very moving stories. 706 00:31:50,080 --> 00:31:52,320 Speaker 1: All right, And thank you for all those professional drivers 707 00:31:52,320 --> 00:31:55,680 Speaker 1: out there, because you know, you ensure that the shelves 708 00:31:55,680 --> 00:31:58,560 Speaker 1: are full, and you know they make our lives the 709 00:31:58,560 --> 00:32:00,680 Speaker 1: heck of a lot easier, absolutely, with a lot of 710 00:32:00,720 --> 00:32:04,520 Speaker 1: sacrifices with not being home every night to their own family. 711 00:32:04,640 --> 00:32:04,800 Speaker 2: Yeah. 712 00:32:06,120 --> 00:32:08,960 Speaker 1: So, is there anything on your radar about the freight, 713 00:32:09,040 --> 00:32:13,360 Speaker 1: transportation and logistics world that we haven't talked about that 714 00:32:13,440 --> 00:32:15,360 Speaker 1: he thinks either interesting or concerning? 715 00:32:15,480 --> 00:32:19,480 Speaker 2: There are some concerning things the way this administration goes 716 00:32:19,480 --> 00:32:22,400 Speaker 2: about transportation. I do have some concerns. So there's just 717 00:32:22,440 --> 00:32:25,320 Speaker 2: inconsistencies right now. When it comes to the enforcement of 718 00:32:25,320 --> 00:32:28,080 Speaker 2: the English language, it comes to the visas, certainly there 719 00:32:28,120 --> 00:32:30,200 Speaker 2: are some concerns there. But until things actually play out 720 00:32:31,120 --> 00:32:34,200 Speaker 2: me personally, I just continue to monitor it. I'm extremely 721 00:32:34,200 --> 00:32:38,000 Speaker 2: interested to watch how AI continues to imbue itself into 722 00:32:39,360 --> 00:32:44,160 Speaker 2: just overall humanity, but specivilly into transportation. There is so 723 00:32:44,280 --> 00:32:46,800 Speaker 2: much nuance to transportation that I believe AI can actually 724 00:32:46,800 --> 00:32:48,160 Speaker 2: do a lot of things to kind of break that 725 00:32:48,240 --> 00:32:51,760 Speaker 2: up and help people understand that ultimately, what are we 726 00:32:51,760 --> 00:32:53,960 Speaker 2: doing moving things from A to B, and then how 727 00:32:53,960 --> 00:32:55,680 Speaker 2: to do that the most efficiently, because I do believe 728 00:32:55,680 --> 00:32:58,880 Speaker 2: that there is a lot of money lost by inefficiency sure, 729 00:32:58,920 --> 00:33:02,080 Speaker 2: and that AI machine learned. What I love though, is 730 00:33:02,120 --> 00:33:05,120 Speaker 2: that AI actually is It's so much more than just 731 00:33:05,200 --> 00:33:07,320 Speaker 2: a you know, a bot behind the screen. There. There 732 00:33:07,320 --> 00:33:09,560 Speaker 2: are a lot of different verses of AI. I am, 733 00:33:09,560 --> 00:33:11,880 Speaker 2: by no means an expert on that, but I'm learning 734 00:33:11,920 --> 00:33:14,520 Speaker 2: more about it. I'm a very special person that helps 735 00:33:14,640 --> 00:33:16,239 Speaker 2: educate me on that. That has me sitting in that room 736 00:33:16,240 --> 00:33:20,200 Speaker 2: over there, because she works on this constantly for her profession. 737 00:33:21,040 --> 00:33:23,320 Speaker 2: When you have agenta AI, large learning models, if you 738 00:33:23,320 --> 00:33:25,040 Speaker 2: have machine learning in there, and then you got rpas 739 00:33:25,040 --> 00:33:27,640 Speaker 2: as well, all those things are typically thought of in 740 00:33:27,680 --> 00:33:30,160 Speaker 2: the same vein, but they're very much not And so 741 00:33:31,040 --> 00:33:34,440 Speaker 2: how that continues to play out, I'm very interested, and 742 00:33:34,480 --> 00:33:36,880 Speaker 2: then how it continues to augment individuals in the space. Again, 743 00:33:36,920 --> 00:33:39,560 Speaker 2: I'm very interested in watching this. I'm learning more about it. 744 00:33:40,360 --> 00:33:42,400 Speaker 2: I won't say I'm excited, but I'm not scared of it, 745 00:33:42,440 --> 00:33:43,040 Speaker 2: if that makes sense. 746 00:33:43,120 --> 00:33:45,720 Speaker 1: Yeah, you know, I think you know. I've been covering 747 00:33:45,760 --> 00:33:49,080 Speaker 1: freight transportation for about twenty years as an analyst, and 748 00:33:49,360 --> 00:33:52,640 Speaker 1: there's been a lot of technology trends that have come 749 00:33:52,680 --> 00:33:55,000 Speaker 1: and gone with a lot of height. I think AI 750 00:33:55,240 --> 00:33:59,320 Speaker 1: is one of the few that are real. I don't think, 751 00:33:59,400 --> 00:34:00,600 Speaker 1: you know, I don't think we're going to live in 752 00:34:00,680 --> 00:34:03,320 Speaker 1: dystopian society where you know the robots are doing. 753 00:34:03,840 --> 00:34:04,520 Speaker 2: Is not coming anytime. 754 00:34:04,560 --> 00:34:07,360 Speaker 1: So, but that being said, you know a lot of 755 00:34:07,400 --> 00:34:10,040 Speaker 1: people believe that we are going to be a world 756 00:34:10,080 --> 00:34:12,759 Speaker 1: where there's going to be you know, over the road 757 00:34:12,800 --> 00:34:15,160 Speaker 1: heavy duty trucks without any drivers in it. 758 00:34:15,239 --> 00:34:17,880 Speaker 2: And where do you where are your. 759 00:34:17,760 --> 00:34:20,400 Speaker 1: Thoughts on autonomous trucks. 760 00:34:20,640 --> 00:34:23,400 Speaker 2: So autonomous trucks, they are real, they are here, they 761 00:34:23,440 --> 00:34:26,200 Speaker 2: are being tested, they are working. Here's the issue that 762 00:34:27,239 --> 00:34:29,600 Speaker 2: is going to come up. What happens when that truck 763 00:34:29,640 --> 00:34:32,440 Speaker 2: rolls over and kill the family? For we are ready 764 00:34:32,480 --> 00:34:36,840 Speaker 2: technologically for autonomous vehicles, we are not ready societally or 765 00:34:36,920 --> 00:34:39,399 Speaker 2: legislatively for it. Because who's going to go to jail? 766 00:34:39,920 --> 00:34:41,799 Speaker 2: If you're the engineer who built that truck, are you 767 00:34:41,800 --> 00:34:42,359 Speaker 2: going to jail? 768 00:34:42,600 --> 00:34:42,799 Speaker 1: Right? 769 00:34:43,560 --> 00:34:45,239 Speaker 2: If I'm the person who came up with the algorithm 770 00:34:45,360 --> 00:34:48,319 Speaker 2: that maybe it make that decision to change lanes? Am 771 00:34:48,360 --> 00:34:48,640 Speaker 2: I going? 772 00:34:48,760 --> 00:34:48,800 Speaker 1: No? 773 00:34:48,880 --> 00:34:53,120 Speaker 2: Why should I? I'm just doing my job. So there's 774 00:34:54,000 --> 00:34:55,520 Speaker 2: there's a lot of things that have to happen before 775 00:34:55,560 --> 00:35:00,520 Speaker 2: that is fully implemented but also fully accepted. There is 776 00:35:00,560 --> 00:35:03,080 Speaker 2: a significant amount of fear amongst the general public of 777 00:35:03,160 --> 00:35:05,640 Speaker 2: like a tribalist vehicle like I mean, I don't know 778 00:35:05,640 --> 00:35:08,319 Speaker 2: if you've actually been in a driverless taxi yet I have. 779 00:35:08,840 --> 00:35:11,440 Speaker 2: It's a trip, isn't it. Yeah, yeah, it is. And 780 00:35:11,920 --> 00:35:14,040 Speaker 2: the first time you get in, like, there is some 781 00:35:14,080 --> 00:35:17,399 Speaker 2: trepidation there. Now put that into an eighty thousand pound 782 00:35:17,400 --> 00:35:21,520 Speaker 2: missile going down the road. I'm still not fully comfortable 783 00:35:21,560 --> 00:35:23,799 Speaker 2: with that. But knowing that again, as a society, we 784 00:35:23,840 --> 00:35:26,239 Speaker 2: are not ready to accept that. Nors are any of 785 00:35:26,239 --> 00:35:28,759 Speaker 2: our laws ready for that, because this is America. Somebody dies, 786 00:35:28,800 --> 00:35:31,400 Speaker 2: someone's going to jail. Yeah, And so that's that is 787 00:35:31,440 --> 00:35:33,920 Speaker 2: where we're not quite ready. I do believe in our 788 00:35:33,960 --> 00:35:36,040 Speaker 2: lifetime though, we will see that as scale. 789 00:35:36,480 --> 00:35:38,360 Speaker 1: Yeah, yeah, I think that you're going to see it 790 00:35:38,400 --> 00:35:42,120 Speaker 1: in some major trucking lanes, like you know where the 791 00:35:42,120 --> 00:35:43,360 Speaker 1: weathers tends to be better. 792 00:35:43,440 --> 00:35:43,600 Speaker 2: Yep. 793 00:35:43,840 --> 00:35:45,239 Speaker 1: And it's almost going to be set up like an 794 00:35:45,239 --> 00:35:48,120 Speaker 1: intermodal network where you have a human doing the pick 795 00:35:48,200 --> 00:35:51,279 Speaker 1: up and delivery part and the robot does in the 796 00:35:51,320 --> 00:35:52,560 Speaker 1: line hall if you will so. 797 00:35:52,719 --> 00:35:55,160 Speaker 2: And I could very easily see the convoy system as 798 00:35:55,160 --> 00:35:57,400 Speaker 2: well of you know, you have one man vehicle in 799 00:35:57,440 --> 00:35:59,960 Speaker 2: the front end, anywhere from two to ten behind it 800 00:36:00,520 --> 00:36:02,399 Speaker 2: coming through. I could very easily see that as well. 801 00:36:02,480 --> 00:36:04,279 Speaker 1: Yeah, it's very interesting that there's also a lot of 802 00:36:04,280 --> 00:36:09,080 Speaker 1: pushback for you know, one man let alone zero man 803 00:36:09,239 --> 00:36:11,520 Speaker 1: locomotives on the rail industry and those are those are 804 00:36:11,640 --> 00:36:16,799 Speaker 1: fixed ye network. So it's very interesting to see what 805 00:36:16,920 --> 00:36:21,520 Speaker 1: the driving public well willing to accept. Well, Robert, I 806 00:36:21,560 --> 00:36:23,040 Speaker 1: really want to thank you for your time and your 807 00:36:23,040 --> 00:36:25,880 Speaker 1: insights today catching up with you and seeing you again, 808 00:36:26,000 --> 00:36:28,560 Speaker 1: and thanks so much for coming in studio. Yes, definitely 809 00:36:28,600 --> 00:36:30,440 Speaker 1: it was awesome and also want to thank you for 810 00:36:30,480 --> 00:36:32,759 Speaker 1: tuning in. If you liked the episode, please subscribe and 811 00:36:32,840 --> 00:36:34,959 Speaker 1: leave a review. We've lined up a number of great 812 00:36:34,960 --> 00:36:37,680 Speaker 1: guests for the podcast, so check back to hear conversations 813 00:36:37,719 --> 00:36:41,839 Speaker 1: with C suite executives, shippers, regulators, and decision makers within 814 00:36:41,880 --> 00:36:44,680 Speaker 1: the freight markets. Also, if you want to learn more 815 00:36:44,719 --> 00:36:47,480 Speaker 1: about the freight transportation markets, check out our work on 816 00:36:47,680 --> 00:36:51,640 Speaker 1: the Bloomberg Terminal at BI and on social media. This 817 00:36:51,800 --> 00:36:55,040 Speaker 1: is Lee Clasgow signing off. Thanks for talking transports with me. 818 00:36:55,280 --> 00:36:56,160 Speaker 1: Talk to you next week.