Ep. #6: Special Episode: The Convoy Story + Pending Market Concerns

Oct 24, 2023

Guest

John Marrinson

Guest

Ryan Soskin

Guest

Zach Knobel

Former Convoy employees Ryan Soskin and Zach Knobel share the inside story of Convoy's journey and how it ran out of cash. John Marrinson discusses the challenges ahead for brokers and carriers, including rising interest rates and squeezed margins.

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Introduction

00:00 • 6min

Background, Experiences, and Enterprise Shipper-Facing Sales

05:39 • 3min

Discussion on Financing in the Transportation Industry and Technological Advancements

08:51 • 2min

Introducing the Hosts and Guests

10:59 • 31min

Evolving the Operations Model and the Value of Data Insights

42:28 • 3min

Data, Feedback, and Improving the Transportation Experience

45:24 • 13min

The Evolution of the Freight Brokerage Industry

58:10 • 23min

Challenges and Concerns in the Industry

01:21:02 • 7min

Blurred Lines and Changing Evaluation Process in the Freight Industry

01:27:39 • 2min

Challenges Faced by Companies in the Current Market

01:29:15 • 22min

Last week, Convoy announced it was shutting it's doors. We are joined by 3 guests: Ryan Soskin, who was employee #15 at Convoy, Zach Knobel, who was VP Enterprise Sales at Convoy, and John Marrinson, EVP at Wintrust Bank.

Ryan and Zach take us through Convoy's journey, helping give perspective to how the company innovated and approached the industry. It's clear that Convoy found ways to create more efficiencies than many of it's competitors, but in the end, the organization ran out of cash. The Convoy story is a fascinating one, and we are lucky to have great guests to walk us through it.

We spend time with John Marrinson talking about what is coming for brokers and carriers. The impact of interest rates rising, abundant capacity, and squeezed margins is making life very challenging for brokers, and more trouble is coming. John paints the picture well to understand how all these factors come together.

Tune in for this special episode.

Follow The Freight Pod and host Andrew Silver on LinkedIn.

*** 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. ***

Ep. #6: *Special Episode: The Convoy Story + Pending Market Concerns*

Ep. #6: Special Episode: The Convoy Story + Pending Market Concerns