The Freight Pod Ep. #72: Andrew Leto, Founder & CEO, Emerge
Andrew Leto shares his journey from Navy veteran to successful freight entrepreneur, revealing how he built Global Tranz from zero dollars into a half-billion-dollar business by spotting opportunities in the eBay shipping market and creating an agent-based model that revolutionized LTL freight.
• Starting with no money but securing prepayment from customers while getting delayed payment terms from carriers created instant working capital
• The agent model allowed rapid growth by recruiting sales reps who brought their book of business for higher commissions
• Building 10-4 Systems as a visibility platform that was later acquired by Trimble in 2017
• Creating Emerge as a procurement platform that offers shippers a free RFP system while generating revenue from carrier participation
• Napoleon Hill's "Think and Grow Rich" provided the mindset foundation for success through belief and visualization
• AI will transform freight by potentially eliminating 70% of current jobs while creating new opportunities
• Investment strategy focuses on knowing the industry deeply and finding undervalued assets like Roadrunner
• Future freight brokers will need to operate on 5-6% margins as AI creates price transparency across the market
If you have an interest in entrepreneurship, Leto recommends reading "Think and Grow Rich" by Napoleon Hill, which he considers more valuable than a college degree for anyone seeking success.
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*** This episode is brought to you by Rapido Solutions Group. I had the pleasure of working with Danny Frisco and Roberto Icaza at Coyote, as well as being a client of theirs more recently at MoLo. Their team does a great job supplying nearshore talent to brokers, carriers, and technology providers to handle any role necessary, be it customer or carrier support, back office, or tech services. Visit gorapido.com to learn more.
A special thanks to our additional sponsors:
- Cargado – Cargado is the first platform that connects logistics companies and trucking companies that move freight into and out of Mexico. Visit cargado.com to learn more.
- Greenscreens.ai – Greenscreens.ai is the AI-powered pricing and market intelligence tool transforming how freight brokers price freight. Visit greenscreens.ai/freightpod today!
- Metafora – Metafora is a technology consulting firm that has delivered value for over a decade to brokers, shippers, carriers, private equity firms, and freight tech companies. Check them out at metafora.net. ***