The Ledger
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Abbott: Asynchronous communication causes a $300B waste problem in US logistics
“We think there's about at least 10% waste in this industry because of the low bandwidth asynchronous communication nature of trading information. So that's a three hundred billion dollar opportunity in the US, almost a trillion dollar globally, right?”
Abbott: H-1B visas should be fast-tracked for exceptional talent, not routine jobs
“The folks who are coming on H-Bs today, like me, like many other people who came at some point, you know, do end up creating jobs in this country and do end up, you know, helping build businesses in this country. So I'm on the take, which is like, let's not lo…”
Abbott: Broken logistics denies consumers access to 10x more products
“There are probably 10 times more products that you don't have access to because logistics is so broken, right?”
Abbott: Human Drivers Will Always Coexist With Autonomous Trucks
“Like you will always have human drivers and you will have autonomous cars or trucks.”
Abbott: E-Commerce Remains Sub-20% of Total Commerce
“E-commerce at that time, and I think still is, like, sub-twenty percent of all commerce at that time, it was close to 12%.”
Abbott: 1-2 day shipping requires a CDN for physical goods
“And really the only way to get to fast shipping is Almost like building a CDN for the physical world.”
Abbott: Flexport's warehouses are full and adding capacity
“I think the last I heard from Ryan is their warehouses are full. They're adding more capacity. It's a pretty meaningful business now.”
Abbott: Augment deploys AI across $25 billion in managed freight
“It is up and running. It is, you know, doing it at scale you know, collectively today you know, across our businesses getting deployed to about twenty five billion of freight under management. So companies collectively managing that much freight and it's growi…”
Abbott: US Cannot Compete on Labor Costs, Must Compete on Data Efficiency
“We don't, we'll never have the lowest labor cost, right? Like we can't compete on that, but what we can compete on is efficiency through data.”
Abbott: No country matches America's trust in immigrant founders and embrace of failure
“Well, I mean, I don't think there is any country in the world like America, where folks from all backgrounds, from all countries can come and can be trusted to go build businesses,
Endeavors, social endeavors and just embrace of failure in, in order to go buil…”
Abbott: Shopify powers close to 12% of U.S. e-commerce
“Shopify was the fastest growing, you know, e-commerce platform. It's now, I think, close to 12% of U.S. E-commerce. So pretty meaningful, you know, the power, I think close to 250 to three hundred billion of online commerce now.”
Abbott: Logistics fundamentally is trading information to trade goods
“Like, if you take a step back, Joe, like, logistics in its simplicity is about trading information so you can trade goods.”
Abbott: There are 1 million trucking companies in the US
“So there's one million truck driving companies in America, right?”
Abbott: US has 40,000 to 50,000 freight brokerages
“There's 40, 50,000 trucking brokerages in America.”
Abbott: Augment built AI agents solely to red-team and hack Augie
“We built agents that tried to, their only job is to hack Auggie, because, you know, it is out in the wild. It is handling tens of thousands of loads.”
Abbott: Logistics represents $3.2 trillion or almost 10% of US economy
“And in the US, it's 3.2 trillion. Our economy is, I think, 35, 36. It's almost 10% of the economy is logistics.”
Abbott: Logistics industry accounts for roughly $80B in payroll
“There's about eighty billion of payroll in the industry.”
Abbott: Bezos priced Kindle at $9.99 to cannibalize Amazon's book business
“Jeff sort of incubated the Kindle project, which, if you look back, could be like, oh, you're
Sort of cannibalizing the biggest business you have, because now you're going to sell every single book for nine dollar 99 cents.
Yeah.
When the average prices of …”