From CIA to Changing the Freight World (Ryan Joyce of GenLogs) | Episode 271 - Freight 360

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome back.
We've got another episode ofthe Freight 360 podcast here.
This is going to be a fun one,ben.
I'm looking forward to it.
We're going to have Ryan Joyceon with us from Genlogs.
We'll get to him in just asecond.
If you're brand new, make sureto check out all the other
content.
We're up to episode 271 thisweek, so that means there's 270
others.
Check out the websiteFreight360.net for those

(00:26):
podcasts, as well as all of ourother content downloadable stuff
for you guys some samplecontracts, dispatching checklist
.
All of our videos from YouTubeare embedded in there too, and
you'll also find Freight BrokerBasics that's our educational
course as an option and share uswith your friends.
We know you guys have beendoing that because we've been
growing.
We're getting lots of questionsin People signing up for the
newsletter.
We appreciate that, ben.
What's going on in Floridatoday, man?

Speaker 2 (00:49):
It's funny.
I just realized I'm like we'vebeen doing this for over five
years.
I'm like in my head I alwaysfeels like it's like two and a
half or like between two and ahalf and three and a half, and I
was like, wait a minute.
I'm like, because we do one ofthese every week, because we do
one of these every week, wedon't ever do more than one
podcast a week and I'm like, wow, I'm like we have been doing
this for more than five yearsnow.
Yep, anyway, it's supposed toget cold down here this week.

(01:11):
In fact, I'm super excitedbecause I grew up up north and
the one thing that I miss themost is being able to have a
fire, and in our new house wehave a fireplace.
So they came and cleaned mychimney out this morning, cause
it's supposed to drop into likethe at least that low fifties,
maybe like forties this week,which I know isn't crazy cold
for you up there.
But I'm like super excited tobe able to actually build a fire

(01:34):
.

Speaker 1 (01:34):
Oh, the the special things in life, right?
Small victories, well, gooddeal.
Um, I wanted to give a briefintro to Ryan here.
Ryan, with a genlogs, if youdon't mind.
Just real quick, for any ofthose out there who are maybe
just hearing about Genlogs oryou, or maybe have seen you on
social media, just a quickrundown on who you are and we'll
break down your full history ina little bit here, but just a

(01:57):
quick intro.

Speaker 3 (01:58):
Yeah, sure.
Well, first of all, let me justsay it's great to be on here.
Guys, I really do credit a lotof those 270 episodes.
I think not only I've listenedto all of them, but everyone on
my team has, mostly because myteam does not come out of the
freight industry, so I'm kind ofalways in awe for those who do.
The kind of subtitle on Genlogswere Freight Intelligence, and

(02:18):
freight is really what we'regetting up to speed on.
Intelligence is what we have adeep background on.
We'll get more into that herein terms of my background coming
out of the intelligencecommunity and how we're
leveraging a lot of thoseprinciples, applications and
lessons learned to looking athow freight moves around the US.
So I'm thrilled to join youhere today and, Nate, I expected
you to be beaming a whole lotmore man with the Bills win over

(02:40):
the weekend.

Speaker 1 (02:40):
We're going to talk about that right now.
I try to keep my smiles tameand in check, but yeah, so we'll
get right to sports here.
Uh, big weekend for for ben andmyself was.
Ben's a pittsburgh steelers fan, I'm a bills fan, so, um, in
orchard park at home, the billshad a nice 30 to 21 win over the

(03:01):
chiefs.
It's a regular season game.
The bills have beat them in theregular season before.
And I'm trying to treat it thatway because at the end of the
day, once you get to thepostseason, that's what really
matters.
And we know the Chiefs recordagainst the Bills in the
postseason.
But feeling pretty good that wewere able to go out there and
really just have a strong,strong game.
And Josh Allen with like a26-yard fourth down run into the

(03:23):
end zone man, it just, it waselectric.
And Ben, how about Russ Wilson?
The Steelers just hanging outon top of the division man.

Speaker 2 (03:33):
Thank God for Chris Boswell kicking six field goals.
Still haven't really been ableto do much in execution in the
red zone, but definitely lookedgood.
I mean, was really happy with,obviously, that game and that
win.
You know what I want to ask youtoo.
I heard in the news thismorning they were talking about
the Bills Mafia and Kermit theFrog.
Was that, or did you hear that?

Speaker 1 (03:53):
No, I didn't hear anything about it.
It's probably something withthe tailgates, though.

Speaker 2 (03:57):
Yeah, it was something with the tailgates and
a reference to, I think Patrick, to I think Patrick Mahomes and
Kermit the Frog.

Speaker 1 (04:03):
Oh, yeah, yeah, yeah.
Everyone says that Pat Mahomestalks like Kermit the Frog.
Yeah, yeah.
I didn't bring anythingspecific beyond that, but I mean
he kind of does.
If you listen to him in aninterview he kind of sounds like
Kermit the Frog a little bit,you know.

Speaker 2 (04:15):
Yeah.

Speaker 1 (04:30):
And I don't know what happened, but they were talking
about it on sports radio thismorning did at the tailgates,
but apparently there were somemuppets there and people were
very offended at whatever theydid with them.
Yeah, I saw.
I saw plenty of uh, provocativetailgate videos across social
media today.
So, yeah, ryan, who's your team?
Because you're from you're fromthe dc area.

Speaker 3 (04:36):
Right, I ended up in the dc area.
I was.
I grew up in a navy family, soI was a chargers fan for a
little bit.
I was a dolphins fan.
For a little bit.
I was a patriots fan uhgers fan.
For a little bit.
I was a Dolphins fan.
For a little bit I was aPatriots fan admittedly for a
little bit, but I know I knew.
But now, yeah, a Commanders fanand it's a good season to be a
Commanders fan.
Some stumbles recently, butstill a winning record.
Which an actual Washington fan.

(04:57):
That's like winning the SuperBowl these days if we just sneak
by with a winning record.

Speaker 1 (05:05):
Yeah, that's awesome Mike Tyson fight.
Did you guys watch that onSaturday or on Friday?

Speaker 2 (05:09):
It was travesty.
I don't think they ever shouldhave let it happen.
To be honest, he had nobusiness being in the ring.
He couldn't stand up like.
He had a hard time literallystanding up for the eight rounds
.

Speaker 1 (05:20):
The, I think, my favorite part.
My wife and I were watching itand and it was so choppy
Everyone was talking aboutbuffering and the signal cut out
, Literally.
It was blurry.
And then it comes back on andit's like a picture of Tyson's
ass walking through the lockerroom after his son interviewed
him on something that might havebeen the highlight of the
entire thing.
Honestly, I thought the betterfight that night was the women's

(05:43):
right before it where the girlwas a killer, like destroyed,
like well it was like shedefinitely lost.
Yeah, I didn't think she shouldhave been called the winner
there, but you know what happens, right, that's Serrano girl,
amanda Serrano.
Like her eye was going to fallout, but she fought like hell,
so that was a more entertainingfight in my eyes.

(06:03):
Yeah, the fight before that waspretty good fall out, but she
fought like hell, so that was amore entertaining fight in my
eyes.

Speaker 2 (06:05):
Yeah, the fight before that was pretty good too.
Barrio the bigger guy.
I think it was a draw right.
Mine went out right at thedecision and I read and I
couldn't but like that was avery good fight.
The other thing too, like thecommentary again like I thought
was terrible, like only thing Iremembered sticking out my mind.
They're like she's Katie Taylor, the undisputed champion in a

(06:29):
disputed decision.
I'm like what I'm like it justI don't the whole thing, I think
was actually pretty pooroutside of that fight.

Speaker 1 (06:38):
Yeah, it didn't look like it was.
Like I feel like Jake Paulcould have went to town on Tyson
and didn't.
Like I feel like Jake Paulcould have went to town on Tyson
and didn't.
I will say the one thing I theending little little glimmer of
hope, or I guess silver lining,is like the last five seconds.
Jake Paul backs up kind of likebows to the champ, like hey,
you're the goat.
Little sign of respect there.

(06:59):
But you know, whatever, itseems like it was more of a
publicity stunt than an actualboxing match, even though it was
legit.
So it's going to go down in thebooks.

Speaker 2 (07:10):
Yeah, I can't believe that's on his record.
I can't believe it wassanctioned anyway.
Yeah.

Speaker 1 (07:17):
All right News.
If you guys aren't subscribedto the newsletter, please do so.
It comes out every Tuesday andThursday.
One of the big things we'lljust hit on this real quick this
Uber freight broker accessthing.
You see that.

Speaker 2 (07:30):
Oh yes.

Speaker 1 (07:31):
Yeah, you could use our capacity as a service now
Like Uber is a broker.

Speaker 2 (07:35):
We have a name for that.

Speaker 1 (07:36):
They have their carrier network and you can
access Uber Freight's carriernetwork.
So it's like, hey, they'reliterally advertising double
brokering without like at leastaddress the elephant in the room
, say like this is aco-brokerage agreement where you
can lean on our capacity, andsomebody in their marketing
department just isn't thinkingto like talk about that, because
now everyone's like beatingthem up on social.

(07:57):
Like these guys are literallyadvertising double brokering.
And, ben, you and I have talkedabout it before.
There are legitimate, smartways to share capacity with
other brokers, as long as you doit legitimately, transparently
and under contract.
And none of that seemed to bepart of their message that went
out.
So, which I'm sure that's theirintention, but you know in an

(08:18):
era of ridiculous amount offraud.
You'd probably want to be top ofmind with that.

Speaker 2 (08:22):
And I also don't think it's really in the best
interest of any freightbrokerages out there to assist
Uber and growing.
I mean like, yeah, yep, that'sjust me though.

Speaker 1 (08:36):
All right.
Well, let's talk gen logs.
Ryan, I'm excited to get you onhere.
Ben and I have known you forquite some time now.
Take us through.
I want to start with yourbackground because that's when
you, when you guys first reachedout to us a couple of years ago
, I was like, did this dude justsay he was in the CIA?
And obviously that kind of likepiques your interest.

(08:58):
But talk, take us through kindof your background and how you
got to the place where you arenow, as far as the company gen
logs, what you guys are doingwith it.
But just give us a quick, quickbackground.

Speaker 3 (09:11):
Yeah, I mean, if we back up all the way and I say
all the way to really TuesdaySeptember 11th 2001,.
I was a senior in high schoolat the time and we were living
in the Washington DC area.
My dad was.
He used to be a fly F-14s, the,you know, top gun fighter jet
yeah.
Tomcats yeah, tomcats.
There's a cool story that goesinto his background there.

(09:32):
I'll tell it another time.
But the bottom line is he wasat the Pentagon.
I was in class and saw theplane hit the World Trade Center
, then the second tower, andthen all of a sudden the camera
panned over to the Pentagon,where there was now just a
gaping hole.
And I had just visited my dad'soffice a few weeks prior.
It had just recently beenre-renovated.

(09:52):
He was in there, he showed usaround, gave a tour of the
family, and now I'm looking at agaping hole where I knew that
my dad was working and thank Godhe narrowly escaped with his
life that day.
But for me, I woke up that dayand I really only cared about
two things, and that was playingbasketball after school and
probably flirting with somegirls.
And I went to bed that nightabsolutely determined to do

(10:14):
everything that I could to learnabout the history, culture,
language, religion of the people.
Would do that and then doeverything I could to make sure
that would never happen again.
It just completely changed thecourse of my life.
For sure, and fast forward.
The next year I'm off atuniversity.
I roll in a night class tolearn the Arabic alphabet, start
studying, study abroad in theMiddle East and Egypt, and then,

(10:36):
a few years later, I ended upgetting recruited by the CIA to
join and start to focus on doingcounterterrorism operations
throughout the globe, and Ispent a lot of my time in the
Middle East worked there.
My job was to recruit foreigners, specifically those that were,
I guess, al-qaeda operatives, toprovide us information about

(10:56):
what the plans and intentions ofthat group was.
And then, really, that's justwhere it started.
At that point we then had tovalidate that information, make
sure it was legitimate, makesure they weren't trying to set
us up for any double agentoperations.
So we would validate thatinformation with a whole lot of
different sources whether it wasdata coming from sensors,
satellites and other disparatesources in order to make sure

(11:17):
that they were telling the truth, and then use that data to look
at what were the trends, whatare some of the anomalies in the
data of what was going on inforeign countries that we could
actually see the terroristactivity and stop it before it
occurred.
And that's the background that Ihad.
I mean, my job, day in and dayout, was to go and recruit these
folks to give us information tokeep America safe.

(11:39):
And I did that all the way upuntil a few years ago, when I
really had this entrepreneurialitch that I knew I wanted to do
something else, and that's whenI started looking.
But yeah, that's the backgroundin terms of, uh, when I reached
out, it was probably soon afterI had left, was really
interested in this freight spaceand but I didn't know a thing
about it.
And the first place I went towas actually reading media

(12:01):
articles and then listening topodcasts, and Freight360 was the
first podcast that I doubleclicked on, downloaded every
episode and just startedlistening, because what I saw
was two trends that were goingon.
I mean, it's always had highfragmentation in the market, but
you guys started talking aboutfraud.
We just talked about doublebrokering a few seconds ago and

(12:21):
was just listening to how muchwas going on there and it almost
like sparked that same, likealmost righteous vengeance that
I had 20 years ago after 9-11,where I was like how dare
someone defraud, someone, stealsomething, and all this for
people that are just trying todo good work out there day in
and day out?

(12:42):
And I knew that I had a specialset of skills and a team that
we could bring to bear to, knewthat I had a special set of
skills and a team that we couldbring to bear to actually start
to take a chunk out of this.
I don't think I truly realizedat the time just how much more
we could do with the approachthat we were about to take.
But yeah, that's the backgroundon me coming out of the CIA.

Speaker 1 (13:00):
That's awesome man, really cool story, and I'm glad
there's folks like you that havethe passion to fix the problems
that exist and at least go downa path that'll help address
them.
And we're going to dig intoGenLogs and how it works and
some exciting news from you guys.
Ben, you got anything else youwant to add in.

Speaker 2 (13:21):
Ben, you got anything else you want to add in?
Not really.
I remember when he firstreached out.
I remember calling Nate andwhere I was staying because I'm
like we have people andcompanies constantly that reach
out and that, like you know,want to talk to us or want to
promote it, and I was like thiswas the thing I was more excited
about than anything I couldeven remember.
I remember telling Nate I'mlike, nate, how they're even

(13:42):
outlining it, and I'm like youalso get kind of a feel, like
you said, like for how peopleare, kind of their abilities to
do things, even if it's in abrief time, and I'm like not
only do I think this is going towork, but like I think they can
actually pull off what theywant to do.
And I remember just being superexcited that day when I was
talking to Nate about it, causeI'm like this could absolutely

(14:02):
fit I hesitate to use the wordfix right, but could absolutely
impact right this giant issuethat nobody seems to be doing
anything about.
It's like plaguing the entireindustry and no one's coming to
save us.
We've talked about this, ryan.
I've worked a lot over the fewyears.
Like no one's coming along.
There is nobody you can call.
You can't call your localpolice like there isn't any

(14:24):
place that is coming to save theindustry or to do anything
about this.

Speaker 1 (14:30):
Totally so.
Let's kind of get into Genlogs.
Ben, you got a nice little haton there.
I didn't think to put isGenlogs?
I mean, obviously, ben, and Iknow and I've been starting to
see way more traffic about youguys on LinkedIn and Twitter and

(14:50):
whatnot, or X lately.
Love to see what's going on,but get everyone up to speed on
what Genlogs is, how you guysare addressing these issues.
I think it's really cool andyou guys have come so far in
such a small amount of time ifyou look at it.
But take us through that.

Speaker 3 (15:08):
Yeah, I'll kind of give you the wave tops then we
can dive a little bit deeper.
So, just from a generalperspective, what Genlogs is
doing is we are actuallydeploying ourselves these
sensors all along majorinterstates and highways.
So we're building a nationwidenetwork of these roadside
sensors that each one of thesehave three cameras that allow us
to collect on the front sideand rear of every passing truck

(15:31):
and equipment pairing.
And then we use AI in real timeto extract everything, every
data and shredded data that youcan about what you're seeing
Like.
I always like to explain it.
If you, as an experienced, youknow someone that's worked in
freight for a while can pull outlittle details.
We can train a computer visionmodel to do so.
So from the get-go we startedtraining on pulling out like

(15:51):
make model, usdot, mc numbers,cab numbers, vins if they're
available.
But then we've started gettinginto a whole lot of niche
equipment types.
So breaking that down, justgoing beyond, just hey, is it a
drive-in reefer?
But getting into like, whattype of RGN is it?
You know, if you're looking fora 13 axle extendable low boy,
whatever it might be, we arethen training models on that.

(16:14):
We're getting the logos, theequipment numbers as well.
We extract all of that out andthen we essentially just build
out a big tapestry for how truckpatterns move around the United
States in a way that is likehundreds and thousands of times
more data than FMCSA is able todeliver with inspections.
In fact, just this morning myteam pulled some updated facts

(16:36):
and figures.
Over the last month we've seen4,000 unique carriers on the
roads and we've seen themmultiple times.
These are 4,000 carriers thathave never had an FMCSA
inspection and so they're outthere day in and day out running
certain lanes, trying to buildbook of business as well as
build credibility of runninglanes, and they've never been

(16:57):
inspected.
And I think I've either heardit in your show and others.
I've certainly talked to ownerand operators that express some
frustration in terms of like,hey, I just got my authority,
I'm now running there andbrokers won't work with me
unless I have X number ofinspections or a year of my
authority in certain inspections.
And we're seeing these carriersa lot of untapped dark capacity

(17:20):
in the roads every single day.
Well, the other thing we'reseeing or maybe it's the lack of
what we're seeing is the doublebrokers that actually don't
have assets on the roads thatyou know maybe bought an MC.
They're bidding on load boardsor reaching out about certain
loads, but when it comes tothey're actually seeing their
assets on the roads, we're notseeing that, and so we're kind

(17:42):
of playing two ways.
We're playing offense anddefense with the sensor network
in order to see who's out there,that no one knows that they're
out there, but then who's notout there that's claiming that
they are, and it's two sides ofthe same coin.
There's a whole lot more thatwe're able to do.
Once we start to track thesetrucks over time and then fuse
together their locations withother data sets, you get a

(18:03):
really rich tapestry of ODpairings and we get to then
extrapolate what shipper lanesare from that.
So for those that are maybeyou're listening to the podcast
here you just got your brokerageauthority just trying to figure
out and build your book ofbusiness.
But you're wondering like,literally, where do I go to make
that first cold call to ashipper and how can I understand

(18:24):
more about them, to understandwhat their needs are?
Well, genlogs on our freightintelligence platform, has also
the lane data for about aquarter of a million shippers
across the United States.
What are their inbound andoutbound lanes, volumes and
needs there, and so it's a greatstarting place.
That primarily 3PLs thesebrokers is who we built this
platform for.
It helps them with customers,carriers and then compliance as

(18:48):
well, because, god forbid,anything ever does go wrong.
Uh, you, you, you.
You got caught with a doublebroker.
And then now that that trailerloaded with valuable uh cargo is
now somewhere in the roads andyou're like desperately looking
for it, trying to figure out whostole it, who took it, well, we
have the ability to go aheadand set a real-time alert and

(19:10):
search historically through allof the trucks and the equipment
that we've ever seen on theroads but then set an alert
going forward that as soon asthat asset is seen, then it
triggers an alert to us.
We can share it with thecustomer or your customer of
Genlogs.
You can do it directly and thenfind who is pulling that
equipment.
So there's just a lot that thisunlocks.

(19:31):
Now, it's not easy.
We've gone through a lot ofiterations of getting this
sensor network out there.
We've also spent millions ofdollars to do it, but it's
really important in order to geta full pulse of what carriers
are out there, what are theydoing, in a way that you've
never been able to have before,and it completely opens up the,

(19:53):
especially as capacity hopefullystarts to constrict here pretty
soon, because that means themarket's starting to shift back
in the right direction.
Well, now you have at yourfingertips hundreds of thousands
of carriers and data on what,the lanes they run, the
equipment.
They have all of that right atyour fingertip thanks to this
nationwide network of sensors.

Speaker 1 (20:13):
Yeah, let me ask you a couple of questions on, like
the stats around this.
So you mentioned the sensors.
How many sensors do you guyshave up around the US?
How many trucks are youactually pulling a day?
Just talk through a little bitof that, because I think it's
pretty fascinating with thereach that you guys truly have
already.

Speaker 3 (20:33):
Sure, on the number of sensors and locations.
I always kind of explain it.
I love my mom to death and Iwould literally take a bullet
for her, but I will never tellher two things the names of my
assets that I was running at theCIA and the locations and the
number of sensors that we haveout there and that's really to
protect our network, is that?
You know, we don't want the badactors to know, hey, we only

(20:55):
have to get this many of them.
And then all of a sudden wetake out the Genlogs network
because we are stopping badactors every single day and keep
letting the good guys flourish.
The other thing about that isyou know, if you don't know
where they are, how many thereare, you have to assume they're
everywhere.
And all of a sudden you nowhave to decide are you going to
take a risk to steal thattrailer that's unattended at the

(21:15):
you know this lot, or out at atruck stop and try to make it
down the road and I will tellyou, like I've told some of our
investors who live by some ofour sensors, exactly the stretch
of highway they're on and theywill drive down looking for them

(21:36):
and they will not see thembecause we've built these to
blend in with the environment,and we built them to, though, to
see what's what is actuallyhappening on the roads.
What I will say is that, uh, weare.
We're infusing a whole lot morecapital before putting more
sensors out there over this nextcalendar year.
By the about this time nextyear, we will have a seat.
We will see on a daily basis90% or more of the trucks on the
road daily, and we'll see themtwo or more times.

(21:57):
And when you look at a map ofthe United States from Texas up
to Wisconsin, to the East Coastwe have really heavy coverage
over there, and then, startingnow on the West Coast and kind
of working to meet in the middle, we have some heavy coverage
there as well.
Some of the mountain regions.
We're still filling in some ofthe gaps there, but, for the

(22:17):
most part, it is really rarethat you would search for either
a specific asset or a carrierand not see a whole ton of data
about that in our platform thusfar.

Speaker 1 (22:30):
Hey, I can respect that response.
Right, you got to make surethat your I guess your secrets
are held close to the chest.
Ben, you got anything you wantto add in?

Speaker 2 (22:42):
The two things.
The one is, you know he wasmentioning before about, you
know, basically carriers beingheld at some disadvantage over
something they cannot control,right?
So what used to be the onlymetric for whether or not a
carrier could be a bad actor orlegitimate, as he pointed out,

(23:02):
were like inspections.
It's not because they were agood indicator, it's because
they were the only indicatoravailable, right.
And the thing that I foundcomical we've all talked about
this is like clients that I workwith that have trucking
companies that are like we aretrying to get inspections.
We've literally called theFMCSA and said can you send

(23:23):
someone to inspect us?
And this is what at least threeof my clients have been told
the exact same thing.
Three of my clients have beentold the exact same thing.
If you're calling, we know youdon't need inspected and we have
limited resources so we can'tsend anybody.
And they're like but we can'tget any more business because
everyone holds it against us,because you haven't inspected us
.
And they're like sorry, we justdon't have enough people to do

(23:43):
this.
So the fact that you're askingit is an indicator that you
don't need it and we're notgoing to send anybody.
So they're at this hugedisadvantage.
Everybody's using a metric thatisn't really applicable, because
they're random and based onwhere these trucks run like they
just might not run intoinspections that often over a
given year, Right.
And then, on the other side,right like that's lost capacity

(24:06):
for brokers, Right?
Not only is it that we're notutilizing them, but I want to be
like real specific, becauseit's not just that like you
can't find another truck in thiscurrent market to pick up that
load, but the thing that youdon't get to do that I've been
able to do since the product'sbeen built because I've been
able to work with you guys on itis that like I can go and find

(24:26):
carriers that are running lanesthat are like in very obscure
areas where it's really hard toget a truck, and here's what
that actually means to abrokerage, right.
So, yes, I can still get a truckto pick that load up for my
customer.
But guess what that means If Iuse a traditional source like a
load board or even just acarrier sourcing tool like RMIS
or even Highway, for example,they all just pull off of

(24:49):
inspection data.
Some have a little bit of ELDsand you get some better
information, but most of thetime when you're covering a load
in a very rural area thatdoesn't have a lot of capacity
density, because there's not alot of freight coming out of
there, you're deadheading adriver there as your first
option, so you're paying moremoney to get a guy to go there
first to pick up the load.
So you're already inefficient,both to your shipper and to the

(25:12):
carrier and to the broker,meaning you make less money.
The carrier isn't a good fitfor it anyways, they don't
really want it, but you got topay them to do it.
And then the shipper oftentimeshas to wait for the delay to
get the guy into that town.
The thing that happens when youfind the carriers that are
already there and that's whatwe've seen, like being able to
see the back end of how manycarriers are in these places.
I was shocked at how many ofthem, because like you can't see

(25:35):
them, like you can't see themin any other tool out there.
And then when we're pullingthis stuff out of Genlogs and
looking at them, like there's athousand carriers that have run
this lane and then you starttalking to them like, yeah, I'm
there every week.
I got three guys there OneTuesday, thursday and Friday
every week.
When's your load picking up?
And the reality is, I think inthe face it just seems like oh

(25:55):
well, then they're cheaper andyou make more money.
But it's not just that, andthat is one for sure benefit,
because when you have the rightfit to the right carrier,
they're literally delivering andsometimes picking up their
backhaul across the street ordown the road in the same zip
code, which is better for thecarrier, right, it saves money
for the shipper.
And then, like, the thirdbenefit is they're much more
likely to be like hey, can I runthat load?

(26:17):
Every week Now I'm going backto my customer going, hey, this
really worked very well for ABCtransport.
They're literally delivering inyour backyard these three days
of the week.

Speaker 1 (26:27):
What other?

Speaker 2 (26:27):
days.
Do you need to move this?
Oh, we move it two days a week.
Great, can we get them set upwith us and you guys so that we
can run this every week?
Now that shipper also isn'tsending that load out to get
recovered by a different carrier, which has risk, which costs
more money, which takeseverybody more time, and the
carrier wins because thecarrier's not bouncing out of

(26:47):
the load board, grabbing arandom load 300 miles away just
to not drive empty.
It's like a win across theindustry.
It's creating efficiency lessmiles driven for the carriers.
I mean, we've talked about thistoo.
I mean, eventually, if you keepfinding efficiencies, that's,
less miles driven by trucks,which is less carbon going into

(27:07):
the ozone, like when you'remaking the entire supply chain
more efficient everybody wins.

Speaker 1 (27:13):
So I remember a few years ago I had a conversation
with someone and they're likeyou know what would be the
optimal way to optimize freightbrokerage and tendering of loads
to trucks to reduce empty miles?
And I was like, well, you needto know where every single truck
is on the road at any givenpoint in time.
That'll never happen.
And then I see gen logs and I'mlike, wait a second.

(27:35):
It's pretty damn close to whatI was joking about a few years
ago, but it is very impressivebecause it's it's real-time data
.
And, ryan, you told us a story.
I don't know, it was within thelast year.
I think it was like a, maybe itwas like pe, like Pepsi or Coke
, that was missing a trailer orsomething and you were able to
find it.
Can you tell us a story for ouraudience that just kind of

(27:56):
describes real world example,the power of gen logs and what
it can do in real time to helplocate the location of an asset?

Speaker 3 (28:05):
Sure, yeah, I was attending the Manifest
conference back in February inVegas and we were standing
outside the exhibit hall and Ilook over and I see there's a
Fortune 50 shipper there and Iwas like you know, let me go and
talk.
I was still new to the industryhere and still had enough
humility to be like I certainlydo not know it all, so I'm
learning from everyone at thatpoint in time.
So I go over and start strikingup a conversation and I could

(28:28):
just see their eyes light upwhen I'm telling them what we're
doing.
At that time we really only hada handful of sensors on the
roads, but I'm walking themthrough like, yeah, our
technology does this.
We're able to catalog everysingle truck and equipment
pairing as it comes by forimmediate recall.
Well, we exchange cards, bidfarewell and go into the
conference.
And what you expect at theseconferences, especially if

(28:51):
you're a vendor, is you're nevergoing to hear from a potential
customer at that point in time.
But I got home and lo andbehold, the day after the
conference I get an email intomy inbox from this Fortune 50
shipper saying hey, we're kindof like skeptical that you can
actually do this.
We want to put it to the test.
Here are 10 trailers that aremissing, high priority.

(29:11):
These are leased trailers forthe shipper.
Can you go ahead and see whatyou can track down?
Well, I was on the midst of aZoom call.
As soon as I got off, I tookthat first trailer, dropped it
in our data and, boom, we had ahit right away and I was, like
you know, so giddy.
I went ahead and pulled all theimages, shot it back and it was
about five minutes from whenthat shipper had asked for us to

(29:34):
search these carriers.
So when I shot them back, likehey, it was just seen yesterday
on I-81 southbound inPennsylvania here are the images
associated with it and theywere like shocked, blown away.
This is a especially becausethis is a trailer that they had
been leasing, that had beenmissing for 36 months, three

(29:55):
years, and they'd been paying onit because they couldn't like
track it down and hoping that itwould just surface.
And then we were able to findit.
They were able to then work torecover it and stop paying that
lease.
And that has happened nowweekly.
It's a story every week, infact.
Right now, we're helpingrecover about 25 trailers or
pieces of equipment every singleweek is what we're on an

(30:17):
average now across our customerbase and, by the way, that is
not even the core of what we'redoing, which is why we've been
pretty excited to share the newsthis week with the industry
about what now GemLlogs is goingto offer to everyone.

Speaker 1 (30:33):
Yeah, so let's get right into that then.
So you're going to the F3concert or concert wow
conference this week.
This will be released on Friday.
So this, probably people haveseen the news, but talk us
through.
What's the big, latest andgreatest with Genlogs?
What are you guys doing?

Speaker 3 (30:50):
The big announcement here is that we've decided at
Genlogs that we're going to makea lot of money helping brokers
and others down the road withregards to capacity, shippers
and all that.
What we don't need to makemoney on is helping clean up the
fraud and theft in the industry, and so effective immediately,
genlogs will help investigateand help recover all stolen or

(31:11):
missing equipment or assets forthe entire industry for free.
And when I say that, we mean it, as we have a full-time team
now.
Our investigations team isstanding by that.
The moment you realize that atruck, trailer, anything is
stolen I don't care if you're ashipper, you're a 3PL broker,
you're a carrier is stolen.

(31:31):
I don't care if you're ashipper, you're a 3PL broker,
you're a carrier.
You can reach out to us throughour website, genlogsio, or shoot
us an email at investigationsat genlogsio, g-e-n-l-o-g-s, and
we will immediately start totrack that down for you.
We'll do a search historicallyWhen's the last time we've seen
it?
If we haven't seen it since itwas stolen, then we'll put an

(31:52):
alert on it for you and we'regoing to find it.
We're going to track it down.
We're going to give you thedata on it.
We'll even try to connect youwith law enforcement to then
recover it, and we're not goingto send you a bill is the bottom
line.
We're not going to ask for ared cent from you, especially
because, when we actually thinkabout it, like my heart are with
the owner operators out therethat maybe have put like all of

(32:13):
their life savings into grabbingthat, like one reefer trailer,
one, you know, drive-in, flatbed, whatever it might be and if
that is stolen, that is, they'reat their lowest low and, like
you, don't kick a man whenthey're down.
In fact, you extend a helpinghand and that's what we've
decided at Gemlogs.
We want to be a force for goodfor the industry.
Our mission is to remove thebad actors, that the good guys

(32:34):
can flourish and, at the end ofthe day, this is a really easy
way for us.
We put the millions of dollarsout there to build this
infrastructure.
We have the platform freeintelligence platform that
there's a ton of customers loveit and people will continue to
get on that and we'll be justfine.
What we can do right now is tooffer to anyone if something
goes wrong.
You have free Overwatch comingfrom Genlogs and we're not going

(32:58):
to send you an invoice, we'rejust going to help you.

Speaker 1 (33:00):
Man, that's awesome.
I think about like two real,real world situations that most
brokers, myself included, havedealt with and probably will
continue to owner operator intodelivering a shipment to a
warehouse when it's actuallysupposed to go somewhere else,

(33:32):
and then it gets stolen and soldin a black market or exported.
And then there's the hostageloads where trucks going down
the road and you're debatingwith them on detention or some
kind of accessorial pay andthey're like I'm not going to
deliver this until you pay me anextra, whatever, right.
So this is, this is the kind ofstuff that the bigger the
company, the more often you'regoing to deal with it and you

(33:55):
know there hasn't been acentralized place to go Like
we've.
We've talked with other expertsin the past on their best
practices, how to handle thisstuff, but you know a full
service at no cost to help theindustry for good.
I mean, that's unprecedented.
We've had nothing like that oreven close to that in history.

(34:16):
So we appreciate that.

Speaker 2 (34:18):
Yeah, and what did the FMCSA say in the fall?

Speaker 1 (34:22):
Like call your local police, basically Right, and
it's like it's funny because thethis was at the policy forum in
DC that the TIA held andsomeone asked a question like
hey, if we run into like astolen load or a hostage load,
what's like, what advice do yougive us?
And it was a panel from theFMCSA and their literal response

(34:43):
was you know, we reallyencourage you to have a good
relationship with your local lawenforcement and you know, you
know, when they come to do anannual inspection with the fire
marshal or whatnot, you know,get to know them and be kind of
buddy, but that way, when youneed a, you know you need a hand
.
They know who you are and it'snot the first time that they're
talking with you.
And I'm sorry, but that's, thatis not.
That's you're not giving anyreal guidance there, fmcsa.

(35:06):
But and the thing is like atthe end of the day.

Speaker 3 (35:08):
I know law enforcement wants to do
something about it.
They just don't have theresources nor the evidence like
to to actually pin something onsomeone and track it down.
And now we do.
And I'll give you like a greatanecdote the other day we had a
very large 3PL reach out to uswith another leased trailer that
they suspected had been stolen.

(35:28):
They were just wondering if wecould help them track it down,
so I threw it in our assetlocator tool.
Immediately we saw that it hadbeen in the hands of two
different carriers over the lastfew weeks, and I actually
reached out to Benjamin aboutthis one, because what was
interesting about this?
It was two separate carriers,separated by a few weeks.
When I looked at the carriers,they were both domiciled within

(35:50):
about 20 minutes of each otherin Southern California.
And then, furthermore, I waslooking at the license plates on
these trucks and they were.
They must've been issuedliterally within minutes or days
of each other.
They were almost sequential, uh, and there was really nothing
like it just kind of seemedstrange until we looked back in
time and saw that both of themhad shared a phone number at one

(36:11):
point in time.
So now you have like twodifferent carriers very close to
each other sharing a phonenumber on a presumed stolen
trailer out there on the roads.
And you know, even then weweren't like we were just kind
of watching what was happening.
But literally, as more sensorsare seeing this trailer transit,
we see it with a third carrierout there and and then there was

(36:31):
some also some suspiciousactivity regarding these
carriers.
What it really seemed to be wasa small network of carriers
that were pulling these stolenor misused at least trailers out
there and that 3PL would haveno recourse.
Before.
Who are you going to talk towhen it comes to law enforcement
?
What's law enforcement going todo?

(36:52):
But I actually did reach out tolaw enforcement in this case
because it was in LA County, andsaid, hey, here's the evidence,
here you have visual evidenceof these carriers hauling this
and now you can get down to thebottom of it.
And the other thing thatBenjamin said earlier that I did
want to circle back on is like,again, my heart is with the

(37:12):
owner operators out there, thosethat are really putting their
life on the line here, like atleast providing for their family
by being out there every day.
A few months ago we had anotherincident where a broker reaches
out to us kind of, hey, we justhad this load stolen.
And it's really odd because itseems to have been stolen by

(37:33):
someone that's been in ourcarrier network, highly vetted,
never had an issue with before.
So I was like, well, let's takea look.
So I threw their DOT MC in ourasset locator tool, pulled up
all of the trucks that we hadseen associated with that DOT MC
over the last few months, and Ithink we had at that point six
of them, and it was like a whiteFreightliner, a blue Peterbilt

(37:55):
or whatever, which kind of wentdown the line.
And so I gave that list to thebroker.
The broker called the carrierand was like, hey, you're
telling me you didn't steal ourload and I tend to believe you,
I've worked with you long enough.
But let's just go over thelatest state of your power unit
center on the road.
They started going down theline.
They got to the sixth one andhe said well, what about a blue

(38:15):
Volvo?
What about your blue Volvo?
And the carrier's like we donot have a blue Volvo.
He's like you sure, becausethere's a blue Volvo with your
DOT MC running around.
That's the one that ended upstealing this load and the
carrier was like that is not us.
And sure enough, some fraudulentthief carrier was out there
that had just put that MCplacard on the side of someone

(38:38):
else and they were stealingloads all around the East Coast.
Well, those freight guard andTIA watchdog reports are being
now filed against a carrier thathas no idea that someone is
fraudulently representing themon the roads and stealing these
loads, and we now had visualevidence to show that a power
unit that was not owned by thiscarrier was now stealing these

(39:02):
loads and helped resolve some ofthose freight guard reports
that really would have tarnishedhis reputation and absolutely
crushed his livelihood.
And so I think that's what I'mmost proud of.
The team and the outcropping ofwhat we built here is an actual
capability to keep the badactors out but actually
exonerate the good actors thatare getting up, like they're

(39:23):
getting mixed up a lot in uh, insome of these tools that are
out there that are, you know,evaluating carriers on the
identity theft thing is hugeLike it literally like it.

Speaker 1 (39:33):
You're punishing someone who doesn't the victim.
Yeah, yeah.

Speaker 2 (39:38):
It's.
It's the thing that, honestly,like, I'm probably more excited
about than anything is like.
Well, we work with lots oftrucking companies too,
obviously, and, just like Natesaid, it's like they're a victim
of identity theft, right,because they got phished.
Somebody in their company madea hit of phishing email, somehow
they get hacked, right.
And then now not only do theyhave to deal with that, but on

(39:59):
top of that, now they got areport which is basically a flag
above their business that saysNow they got a report which is
basically a flag above theirbusiness that says, hey, warning
.
So then every broker then triesto find a different carrier
because they can't necessarilyvet it, right, and it's all just
what you said at the verybeginning.
The whole industry is opaque.
There's a lack of transparencyinto what is actually happening,

(40:19):
and it's not that I think thoseproducts or tools or reports
had any bad intentions, right.
They're just unintendedconsequences of the best thing
that they had.
And they're subjective, right,they're people's opinions of
situations.
Sometimes it might just be adisgruntled broker, sometimes it
is legitimate, sometimes it isa crime, but there's almost no
way to tell what actuallyoccurred.

(40:41):
And again, it's not that lawenforcement doesn't want to do
these things.
They don't have enoughresources to go.
The FBI can't go andinvestigate every $5,000
instance of fraud, or even$20,000, right.
So there's just not enoughinformation or the ability to do
anything about this.
And everybody hurts, right, andI don't care who you are,

(41:01):
everybody's paying this cost,right?
Shippers are paying for it,brokers pay for it and carriers
pay for it.
And the friction in the business.
To me, it reminds me very muchof like when I would see movies
and documentaries of like whythe FBI started in the first
place related to, like, wirefraud and the mob.
They would just literally goacross state line and they
couldn't get chased.
Right, and they realized, oh,the criminals have gotten ahead

(41:24):
of where we're able to actuallychase them to.
And to me, our industry hasbeen like the Wild West in a
sense, where it's like, I mean,there's literally nothing,
nobody's coming after them,nobody can find them and nobody
knew that it happened.
All you have are the victims atthe end of the day going.
Well, there was another 20grand we lost.
Oh, that shipment apparentlygot stolen by maybe this company

(41:45):
.
Oh, it wasn't really thatcompany.
We still don't know whoactually stole it, but it went
through this company, so let'sput a report on them.
And now they're being punishedand it's just a very ineffective
way of addressing what issystemic and hundreds of
millions of dollars a year andlosses.

Speaker 1 (42:03):
Yeah, I want to.
I want to ask a couple morequestions on the, the freight
intelligence platforms.
I know we just talked about youknow how to solve the fraud
problem a little bit here, but Ihave played around.
I got up on my other screenhere too just to kind of refresh
myself, but I played around onthere and it's, it's amazing,
like the user interface youcould, you know, search for
carriers based on a lane, searchfor shippers based off a

(42:25):
certain lane.
Can you talk a little bit,obviously not revealing any of
your, your secrets, like I askedyou how many sensors you had
and I clearly pressed the wrongbutton there but, um, can you
talk a little bit through theprocess of how you guys are able
to take the data you have andanalyze it to recommend a
carrier, uh, based on a lane ora shipper?
Right, if I'm, maybe I'm tryingto find a backhaul for one of

(42:45):
my drivers.
How is this all coming togetherto help give us the, the output
of hey, check out thesecarriers, here's how we're going
to rank them.
And check out these shippers,here's how we rank them.

Speaker 3 (42:57):
Yeah, sure.
So what I?
What I can say, without gettingtoo much into kind of the how
the sausage is made, is we goback to my days at the
intelligence community, wherereally the reason the US
intelligence community justkicked butt more than any other
country in the world is we'vereally figured out how to take
an all-source intelligenceperspective, that we will take

(43:19):
data coming from human sourcesthat's human.
We'll take data coming fromgeospatial sources, satellites,
above that's geo-int.
Then we'll take like signals,intelligence, sigint and bring
all of this together to reallylook at from every single angle
what's happening.
And that's how you kind of geta.
You kind of think about liketwo-factor authentication, like
there is no doubt that thisthing or person was at a time

(43:42):
and place because all of thesignals point to that being the
case.
Well, we take the similarapproach by using our sensor
network solely as thefoundational freight data layer
that we then fuse with a lot ofother data sets that we are
pulling in.
So every week we are findingnew sources of novel data, and a
lot of this data is anonymized.

(44:02):
It's messy, it really like forthe average person to go in and
take a look at it.
It would be like this doesn'tmake sense to me.
And also it's going to havelike your Tesla data in there
and your Volvo data and Toyotasand all of this and it's going
to be really messy anonymizeddata sets and then reattach
those data to the actualphysical trucks or trailers on

(44:27):
the roads and that allows us tothen track from origin to
destination and you do that atscale.
You kind of aggregate that up.
It gets you a really, reallyrich insight into what's
happening at every shipper andevery lane across the United
States.
And I think some of my favoritetimes at Genlogs showcasing the
freight intelligence platformwill be when I am talking to a

(44:48):
shipper about it and they willsay like, well, let's pull up
this specific location.
And I'll pull up the location,you double click on it and boom,
it shows them their lanes, bothlike where their suppliers are
coming from and also where theiroutbound lanes are to their
customers and to a T.
Every time we've shown that, ashipper will look at it and
he'll nod and be like, yeah, younailed it, and that's just like

(45:09):
a really cool experience.
And the interesting thing hasbeen you kind of wonder like are
shippers going to be kind ofriled by this, the fact that we
are now unveiling all of thedata about their lanes there.
It's actually been the exactopposite.
What we've seen is ourcustomers 3PLs and brokers who
are on the freight intelligenceplatform will literally walk

(45:30):
into their prospective customerto the shipper and sit down and
they'll pull up the freightintelligence platform.
We're totally fine if they wantto do that, because what
they're doing is dispelling themyth that all brokers do is post
on load boards.
They're showing how they havethese unique, creative ways to
now prospect carriers and notjust to find a new carrier.

(45:51):
That's the start of it.
But then the carrier utilizationpiece is.
What we're really excited aboutis when, all of a sudden, you
have your Rolodex of carriers.
You can have them uploaded ingem logs and you can literally
say I have a spot load right nowthat I need to get something
from Harrisburg, pennsylvania,down to Nashville, tennessee.
We will tell you all of thecarriers within your network

(46:13):
that are within two hours ofHarrisburg right now, that have
the right equipment type rightnow that matches whatever load
you need to move and that likelyhave a backhaul need down to
Nashville, based on all of thepast data that we bring in.
So we bring all of that in.
And then this also allows you,when it comes to talking with

(46:34):
prospects on the customer side,with shippers, to show them like
hey, you just told me that youhave these lanes that you need
to cover.
Let me show you the backhaulson those lanes of other shippers
out there that I'm going to beable to now cover freight on
those backhauls for you andultimately drop your overall

(46:55):
costs if you go with me as thebroker.
So it's really like the brokerempowered by Genlogs is really
what is kind of the superpower.
In fact, we had a One I won'tname him, but he's been in this
industry for about 20 years andhe pulled me aside of a
conference just the other weekand he said, ryan, I've been
telling everyone, five yearsfrom now there's going to be two

(47:15):
types of brokers those that areGenlock's customers and those
that went out of business.
And he is that convinced thatit's going to be that much of a
game changer, which is reallyhumbling for someone that came
out from the side of theindustry.
And I've really like we'vegotten to this point only
because we've had the humilityand empathy to just sit down and

(47:36):
ask questions about what's itlike for you guys on an everyday
basis to do your work, and I'veinvited both Nate and Benjamin
in to literally sit with ourproduct teams and go through
like.
This is what life is like and,in fact, a huge plug for the
course that you guys offer.
We now put our employees atGemlogs through the Freight 360

(48:00):
course for brokers to reallyunderstand what the day in the
life of a broker is, because Iknow like your audience kind of
skews towards maybe those thatare just getting started and I
think what the most significanthappenings that occurred over
the last few months is.
When we launched our product inAugust, we chose one of the

(48:21):
largest freight brokerages inthe US top five freight
brokerage to get onto theplatform and then we went and
found a two-person brokeragethat was just hoping to hit $5
million of top-line revenue inthe next year or two and really
the question was did we haveenough data that the fifth or
sixth largest freight brokeragein the US would say this is
something we need?

(48:41):
And the answer to that was yes.
They converted to become acustomer.
We've actually just gotten athousand more of their users on
the last week.
We wanted to make sure we hadenough data to then also that
the now five person or the twoperson freight brokerage now
literally has data parity withthe fifth or sixth largest
freight brokers in the US, ableto find hundreds of thousands of

(49:02):
carriers, hundreds of thousandsof shippers, and now has the
same parity.
That's what we've reallydeveloped as a tool that kind of
levels the playing field.
So even the underdogs, who Ialways root for, they can now
have that parity.

Speaker 1 (49:15):
That's what I love too, and, ben, we've talked
about it before where you havethe ability, as a one or two
person operation, to competewith the biggest companies in
the industry, and absolutelywith a tool like Genlogs, it
does level the playing field,and who's going to come out on
top in that situation?
It's going to come down to theinterpersonal tact.

(49:38):
Who can relate to andcommunicate better All the
non-data related things?

Speaker 2 (49:43):
that we talk about right.

Speaker 1 (49:44):
We're leveling the playing field, so now it's like
go do your thing, and whicheverone of you is going to be better
at building relationships andrapport and trust with this
prospective customer, that'swho's going to get the business,
because all the tools and allthe roadblocks in the way have
now been just snow plowed outbeen able to have both of those

(50:09):
seats right that Brian just said.

Speaker 2 (50:09):
Like I started a company with 6,000 brokers and
had probably as much lanehistory and carrier base as any
other brokerage in the countryreal close like number two maybe
at the time.
And I've done this with oneperson and I've done this with
two or three people, right.
And the biggest disadvantagewhen you have a small team, say
it's just one person, right,when I was at like TQL, if I've

(50:31):
got a new lane from a customerand they go I need help with
this lane, doesn't matter whatit is, especially if because
where do they always need help?
It's always the areas wherethere's not a lot of trucks,
right, so it's a rural town inArkansas to Sparks, nevada or
whatever it's got to pick up inthree hours.
Well, if I'm at TQL or Echo orCH, it's really likely when I
look at our lane history thatsomeone has run that lane, maybe

(50:54):
not recently, but at some point.
So the biggest advantage of thebig company is I can at least
call those carriers and have achance that one of those trucks
might be there.
But it is no guarantee or evenlikelihood they're there that
day or today, right, but that isyour biggest advantage.
And in a small company, right,you don't have the lane history.
You haven't ran that many loadsyet.

(51:14):
Or if you're new, right, likeyou just don't have that history
in your TMS, but in Genlogs Idon't care where you give me a
load at, I can find the carriersthat I know are there and were
just there, right, and I've beenusing it since it's come out.
So, like I can tell you forsure I've got these lanes with
new brokers prospecting newcustomers that are like I have

(51:34):
the hardest time covering thatload.
We'll pull lists, send emailsand make phone calls and we'll
have four carriers that aredelivering there right now and
they're like, yeah, we werethere every week.
Yeah, and also again I talkedabout this earlier you aren't
paying a premium.
It doesn't mean you're beatingthe truck up and paying them
less, it's just you don't paythem deadhead money.
So even though in the one laneI had was, I remember, because

(51:56):
it was like Aurora, californiagoing down to Dallas, and in the
summer all the trucks are inDenver, so you got to pay
deadhead money to get the guyfrom Denver down to Aurora, well
, in this market, that extra$200 to spend on that truck
meant I'm now too expensive formy customer and they don't want
to pay it.
But using Genlogs we found fourcarriers that were running that
every day and they gave us theactual rate per mile to run from

(52:20):
Aurora to Dallas because that'swhere they were actually
delivering.
Not a lot of carriers are thereevery day or every week, but
that's why this tool is such anadvantage.
And then you layer on the nextpiece, which is oh, all these
other lanes we're delivering toin disparate places.
I'm immediately in shipperinsights and looking for the
other side of that lane and thencalling those shippers.

(52:41):
So you know, in the pastbrokers would just make this
stuff up and be like, oh yeah, Igot a backhaul driver there and
the next week they give you aload and you can't cover it.
Right Now we're like actuallyable to execute on that and say,
no, listen, like these are thedays of the weeks we're up there
, we're already delivering forthis other customer.
Would this work for you?
They're like, yeah, we'd loveto be able to work you into our
network.
That is real value, right.

(53:03):
Like that is real value againto your customer, to the
brokerage and to the carrier,and it saves time and it saves
everybody money and you do thatlittle by little right.
Economies of scale outside ofthat example are no advantage in
this industry.
That's why you don't see onetrucking company becoming the
Microsoft or Apple.
You don't see one freightbroker becoming the Microsoft or

(53:24):
the Apple.
Even though we all look atthese huge companies, they have
like 2%, 3 percent of the market.
When you add them all up, allof the huge companies, the whole
industry runs basically onsmall businesses.
And to me, like that's thething that I love about the
industry, why I think, like weall enjoy being a part of it is
because you can work with familyowned businesses.
One person, somebody that justwants to work harder Like to me,

(53:45):
like that's the opportunity whypeople came to America for
hundreds of years is to be ableto go and compete and make a
name and create a business foryourself.
This is one of the fewindustries I think left where
anybody can literally do this.
If you're willing to work hardenough and put the time in, it's
literally sky's the limit.

Speaker 1 (54:04):
The one thing I wanted to add in on the sales
side is imagine and Ryan, youdid a great job explaining real
world situations how people areusing it.
But imagine being able to starta conversation with a
prospective shipper, alreadyknowing the answer to the
majority of questions that youtypically have to ask them Like,
oh, what's your frequency ofshipments?
What you know what, where areyou guys shipping to?

(54:24):
You can literally see that inthe free intelligence platform
and, to your point, you know ifa shipper wants to challenge you
on it.
You, the data speaks for itself, right, um, that's a huge.
And same thing with you know,carrier sourcing as well.
Um, just to echo your point, ben, it because I'm paying somebody
less doesn't mean I'm I'mjipping them out.
I might be paying a higherdollar amount per mile in an

(54:48):
overall lesser rate, becausewe're avoiding the inefficiency
of the deadhead, which is goodfor everybody, right, it's wear
and tear on the vehicle that thedriver doesn't otherwise need
to do.
It's empty hauling that couldhave been used in time, used
more efficiently.
So, yeah, this is a win allaround.
So I hope things do go in thatdirection for you guys.

(55:09):
Ryan, we're getting up towardsthe tail end here.
What's the future, both nearand far range, looking like for
you guys?
I know the big announcementtoday was obviously being able
to help for free, at no cost,identify these stolen loads and
stolen equipment.
But what else is on the horizon?

Speaker 3 (55:27):
Yeah, well, one thing is we're adding about a dozen
of these sensors every singleweek now and we're hiring more
teams to do so.
We're actually closing anotherinvestment round that should be
announced this week or next.
That's going to absolutelyallow us to flood more of these
sensors out there.
So part of it is just moresensors equal better data for
our customers, no doubt, but themore data we collect, the more

(55:49):
we can drill down into that.
So some things that I'm lookingforward to I know we have
scheduled for later this year,early next, is doing some more
on the advanced shipper insights.
So imagine being able to seewhat the average dwell time is
for every shipper in the US, aswell as what days of the week
they are shipping, so that youcan know hey, they're shipping

(56:09):
Tuesdays, thursdays.
These other guys on the backcalls Wednesday, fridays, like
whatnot.
So we're getting like days ofthe week, dwell times, getting
different types of volumes andthen starting to associate the
equipment types to the shippersas well.
So you know like, hey, is this?
What type of like Conestoga doI need for this shipper ahead of
time, literally to have allthat your fingertips?

(56:30):
Some of this is going to take alittle time.
That's absolutely where we'regoing.
Uh, on the carrier side, it'sjust literally understanding,
like, how they are operating and, frankly, allowing you to find
them a whole lot moreefficiently than if you guys are
like two ships in the nighttrying to post on load boards
and then both of you like justworried about, like am I going
to be defrauded here?

(56:51):
Uh, you know, ideally we liketo talk about it as, like the
old way is a spray and pray,that you're like I'm just
putting it out there and hopingthat someone that's not going to
steal my freight is responding.
And now we're almost likeputting a sniper rifle in your
hand and saying, like find thethe exact right carrier at the
right time, right place, rightequipment needs right backhaul.
All of that and that's what wewant to put in your hands.

(57:13):
And I think like one of themost flattering comments that
almost everyone that when theyactually touch the system says
is it's like brokering freightin cheat mode, kind of going
back to like the old days whenwe used to grow up playing video
games.
And we've tried to make this UIin a way that, yeah, exactly, up
down, up down, left right.
You know, there you go,b-a-m-b-a.

(57:35):
You got it, but that's what wewant it to ultimately feel like.
We want it to.
You know you still have to like.
The end of the day, we're notremoving humans from this on
either side.
I think that's a critical pieceis we're a human first AI
company.
At the end of the day, we'regoing to help you find who you
need to call, but you still needto call.
You still need to form thoserelationships with shippers.

(57:55):
You still need to form thosedeep personal relationships with
the carriers.
We're just going to help to getthere a whole lot quicker, and
that's really the background.
My time in the intelligencecommunity was to deliver data
and insights to make decisions awhole lot quicker and make
better decisions, and that'swhat we want to put in
everyone's hand.

Speaker 1 (58:17):
Love it.
Well, that's awesome.
We appreciate you being on here, so best way for folks to get a
hold of you if they want tocheck out Genlogs.

Speaker 3 (58:28):
Yeah, go to our website, genlogsio
G-E-N-L-O-G-Sio Literally.
You can book a demo right onthe website.
We will show you a full30-minute in-depth experience
there, and we offer at least forthe foreseeable future a
risk-free trial option so youcan get on the platform.
You can use it for 30 days, youcan see exactly what it can do

(58:50):
for you and then make a decisionabout whether you want to stay
with it long-term.
I will note this and I hate to.
What we want to always make sureis that we're giving very high
caliber of service ourselves asa company.
So we are limiting to only 200customers total on this platform
for the end of 2025.
And those slots are reallyaccelerating in terms of picking

(59:11):
up.
Once we reach 200, that is it.
So there will only be 200brokers out there that have this
superpower, and so it's more sothat we want to make sure we
can scale efficiently and we doa white glove onboarding for
every single customer to makesure they understand the full
capabilities there.
And so once you get on, you areone of 200 that'll have this

(59:34):
and no one else will, which alsogives you an advantage over
everyone else in the market.

Speaker 1 (59:39):
Totally Love it.
I'm super excited to see howyou guys progress in the coming
years and to walk alongside youguys through that.
So we'll definitely have youback on in the future talk about
how things are going and I'mcurious to see the real impact
that we that we'll have from youguys offering that service to
the community with the stolenassets and whatnot.

(01:00:02):
So, but Ryan Joyce from Genlogs, thanks for being with us today
.
Enjoy your.
Enjoy yourself at theconference this week.
I heard it's supposed to be agood one.
But anything else, before wewrap this up, that you want to
share, Go Bills.
I love it.
Ben, what do you got?

Speaker 2 (01:00:19):
Whether you believe you can or believe you can't,
you're right.

Speaker 1 (01:00:23):
And until next time, like Ryan said, go Bills.

All Episodes

From CIA to Changing the Freight World (Ryan Joyce of GenLogs) | Episode 271

Episode Transcript

Popular Podcasts

Stuff You Should Know

Dateline NBC

On Purpose with Jay Shetty

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}From CIA to Changing the Freight World (Ryan Joyce of GenLogs) | Episode 271