This fireside chat recap is from Day 1 of FreightWaves’ F3: Future of Freight Festival live event in Chattanooga, Tennessee. For more information on the event, click here.
FIRESIDE CHAT TOPIC: How carriers can navigate a volatile freight market
DETAILS: FreightWaves’ Kaylee Nix spoke with Bill Driegert, co-founder of Uber Freight, at the F3: Future of Freight Festival about changes in the freight market. He also discussed Uber Freight’s acquisition of Transplace.
SPEAKER: Bill Driegert, co-founder and head of operations at Uber Freight
BIO: Prior to joining Uber, Driegert served as COO of Pillow Homes. He also spent time at Amazon as director of planning and innovation with oversight over new initiatives in final-mile delivery and truckload. Driegert was a founding team member of Coyote Logistics, which was acquired by UPS.
KEY QUOTES FROM DRIEGERT:
“It’s been an incredibly volatile market over the last two and a half years and very difficult for carriers to predict what’s going to happen in the next six months.”
“This year, we’ve seen rates collapse; they’ve dropped over 30% since January. We’ve seen spot volume just disappear and acceptance rates are now 95%, plus no freight is rolling on the spot market. If you’re a carrier, it’s very hard to stabilize your earnings to get consistent cash flow in a market like that.”
On Uber Freight’s acquisition of Transplace: “Ultimately, it’s two exceptional companies that come from very different sides of the market. Transplace is operating on behalf of the shipper and that’s their center of gravity. We will continue to invest in building those capabilities. But now we can add in all of the execution capability of Uber Freight.”
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now