Dan Lewis, co-founder and CEO of digital freight network Convoy, describes the fragmented structure of the US trucking industry.
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“The average one has two, three trucks.”
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More from Dan Lewis
Insight
Trucking platforms face lower supply acquisition costs than Uber and Lyft
“They said, let's take people that don't do this as their full-time job and get them to come become drivers and build up a new supply of drivers. So if you're trying to get someone to leave their old job or whatever they were doing to make money before and star…”
Dan LewisSep 27, 2018▶ 11:391160 Convoy, The Uber for Trucking, Charges Avg $4/mile on 100 mile trip, Takes Less Than 20% Per Unit Shipped
AssertionNot checkable as stated
Convoy lowers prices by reducing broker costs and using matching technology
“It does. And over time it allows us to drive the price down even more. We can take out some of the operating costs of running a brokerage, which makes it so we can run a little bit more efficiently. We can also find more convenient trucks because we can see al…”
Dan LewisSep 27, 2018▶ 5:371160 Convoy, The Uber for Trucking, Charges Avg $4/mile on 100 mile trip, Takes Less Than 20% Per Unit Shipped
AssertionNot checkable as stated
Convoy operates healthily below the industry standard 18% to 20% take rate
“Our business model can be healthy at a lower percentage.”
Dan LewisSep 27, 2018▶ 13:501160 Convoy, The Uber for Trucking, Charges Avg $4/mile on 100 mile trip, Takes Less Than 20% Per Unit Shipped
AssertionNot checkable as stated
Amazon receives no data or operational learnings from Convoy
“Yeah, I can't comment on Amazon's plans, but it's certainly not the case where they're learning or getting data from Convoy. There's no relationship like that.”
Dan LewisSep 27, 2018▶ 15:211160 Convoy, The Uber for Trucking, Charges Avg $4/mile on 100 mile trip, Takes Less Than 20% Per Unit Shipped
Disclosure
Convoy generates millions of dollars in revenue every week
“And we're doing, you know, millions of dollars in revenue every week.”
Dan LewisSep 27, 2018▶ 18:331160 Convoy, The Uber for Trucking, Charges Avg $4/mile on 100 mile trip, Takes Less Than 20% Per Unit Shipped
Disclosure
Convoy's key operational metrics: volume, market density, and automation percentage
“The key metrics for us are thinking about how much freight we're moving how much for removing in each of our markets, because we want to build healthy, you know, dense networks as we build this business out. And what percentage of the time is the work is the f…”
Dan LewisSep 27, 2018▶ 3:551160 Convoy, The Uber for Trucking, Charges Avg $4/mile on 100 mile trip, Takes Less Than 20% Per Unit Shipped
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