20VC: Flexport's Ryan Petersen: Reflections on Leadership from 13 Years Leading Flexport, Why Velocity not Speed is Most Important in Company Building, How Money Creates Inefficiencies in Scaling, The Future of Trade with China & Why Remote Work is so Cha
Ryan Petersen, Founder and CEO of Flexport, shares insights from his remarkable journey in global supply chain technology. He emphasizes the importance of velocity over mere speed in scaling businesses and discusses how money can lead to inefficiencies post-fundraising. Ryan reflects on his leadership lessons, the intricacies of resource allocation, and the future of trade dynamics with China. Furthermore, he delves into the impact of AI on Flexport's operations and the balance between career and family life, stressing the importance of personal values over financial success.
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question_answer ANECDOTE
Flexport Origin
Ryan and his brother started a motorcycle business, highlighting the difficulties of freight forwarding.
This experience inspired Flexport, aiming to simplify import/export with technology and customer focus.
insights INSIGHT
Quality Over Efficiency
In logistics, inefficiency stems from poor quality, like incorrect shipments or customs issues.
Focusing on quality lowers costs and increases efficiency, unlike other industries.
volunteer_activism ADVICE
Hiring Freeze After Funding
After raising capital, implement a hiring freeze for 90 days to maintain discipline.
Overhiring is a common mistake fueled by easy capital, leading to layoffs and cultural damage.
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The book tells the story of Alex Rogo, a factory manager who is given three months to improve his underperforming plant or face its closure. With the guidance of his former physics professor, Jonah, Alex learns to apply the Theory of Constraints to identify and manage bottlenecks in the production process. Through this approach, Alex and his team transform the factory, improving efficiency, reducing inventory, and increasing profitability. The novel uses the Socratic method to teach fundamental business concepts and emphasizes the importance of continuous improvement and critical thinking in management[2][4][5].
The story of civilization
Will Durant
Ariel Durant
This series, written over a period of 40 years, is a detailed and engaging narrative of human history from prehistoric times to the late 18th century. It emphasizes the interconnectedness of historical events, cultural developments, and the lives of influential individuals. The Durants' approach is characterized by their attention to art, literature, music, and other aspects of culture, making history more accessible and engaging for a broad audience. Despite some criticisms for being Eurocentric and lacking in primary research, the series is praised for its thorough and personable style, making complex historical topics interesting and transparent[2][3][5].
Curious George
H. A. Rey
Margret Rey
Curious George is the first book in the beloved series by H.A. and Margret Rey. It tells the story of a monkey named George, captured from the jungle by the Man in the Yellow Hat and taken to the city, where his curiosity leads to various amusing mishaps. The book is celebrated for its engaging illustrations and lessons on curiosity and friendship.
Ryan Petersen is Founder & CEO @ Flexport, a leader in global supply chain technology. In 2022, Flexport moved more than $26 billion of merchandise. Over the last 10 years, Ryan has raised close to $2.5BN for the business with the latest valuation pegging the business at $8BN. Prior to starting Flexport, Ryan was the founder and CEO of ImportGenius, a premier provider of transaction data for the global trade industry.
In Today's Episode with Ryan Petersen We Discuss:
1. The Origins of a Generational Defining Leader:
What did Ryan want to be when he was growing up?
How did scooters and motorbikes in China lead to the idea for Flexport?
What does Ryan know now that he wishes he had known when he started Flexport?
2. Speed and Money: The Secrets To Execution:
Does Ryan believe speed is key to execution? What is the difference between speed and velocity?
What advice does Ryan have to founders who raise a lot of money? How should it impact hiring?
What are the most common ways founders become inefficient post-fundraising?
Why does Ryan look to invest in founders with jaded pasts and a chip on their shoulder?
3. The Art of Resource Allocation:
Are the best CEOs the best resource allocators?
What is the single best resource allocation Ryan has made? What did he learn?
What is the worst? What did he learn?
What have been Ryan's biggest hiring mistakes? How did that change his approach?
4. The Wider World:
Is Ryan long or short on China? Why?
Will we see global trade become nationalized? Why?
Will we see interest rates raised further? What impact does that have on trade?
What has been the impact of war on trade and the shipping industry?
5. Ryan Petersen: The Father and Husband:
How has having kids changed how Ryan approaches leadership and management?
How does Ryan juggle 2 young kids and leading a 2,500 person company?
How does Ryan retain romance with his wife while also being a full-on CEO of a large co?
Does money make you happy? What does it help with? What does it not help with?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 
