The Fort - An Entrepreneurship Podcast

#325 - Craig Fuller - CEO @ FreightWaves - State of Global Freight, China's Impact, Onshoring, Strategy for Buying Media Companies

Dec 19, 2023

Craig Fuller, CEO of FreightWaves, discusses the current state of the freight industry, the economic situation in China, the reshoring renaissance, his media strategy, and the acquisition of Flying Magazine. He also shares insights on doubling the size of an established niche media company.

01:22:05

Episode guests

Craig Fuller

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Episode notes

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Quick takeaways

Leveraging a media business can effectively shape audience behavior and influence buying decisions.

Valuation of media businesses can vary depending on brand quality, audience loyalty, and financial performance.

Deep dives

The Power of Media in Driving Commerce

The strategy employed by the speaker is to leverage a media business to influence audience behavior and drive commerce. The key tactic is to own the audience rather than renting it from platforms like Facebook and Google. By owning the audience, the speaker can effectively shape the way people think about topics and influence their buying decisions. This strategy has been successfully applied in the freight and supply chain industry, resulting in the growth of their media business. The speaker expanded this approach by acquiring other media companies in aviation, marine, and recreational categories, using the media properties to sell various products and services to the audiences. The speaker emphasizes the importance of not just publishing content, but also leveraging the media platform to generate revenue and drive outcomes.

Introduction

2min

Understanding the Freight Recession

18min

The Reshoring Renaissance: China's Challenges and America's Opportunities

20min

Marketing in the Oil Industry and Government's Role in Innovation

2min

The Bankruptcy of Yellow - A Tale of Consolidation, Bailouts, and Surplus

4min

Investment Strategies and Media Business

25min

Opportunities in Acquiring Media Companies in the Golf Industry

3min

Nostalgic Brands and Business Opportunities

6min

Craig Fuller is the founder and CEO of FreightWaves, the leading provider of global supply chain market intelligence and news. Before FreightWaves, Craig was the founder of TransCard, a major provider of fleet fuel and debit cards. He is also the CEO of FLYING Magazine, the world’s most widely read aviation magazine. Previously, Fuller founded the Xpress Direct division of US Xpress, the leading provider of on-demand expedited truckload services.

On this episode, Chris and Craig discuss: