We're back from the exhilarating days of Marketwaves18. It would fill a lot of space to discuss everything we've seen and heard—and we've written plenty of stories on it that you can see on FreightWaves—but here are a few quick takeaways. First, there is a tremendous amount of technological development going in to shake up old ways of doing business. What's notable is how many companies that presented during Demo Day had some sort of load-matching technology. It will be interesting to see who breaks out of the pack to perform a task that on the surface seems pretty basic: find buyer, find seller, buyer meets seller, they do a deal. Second, J B Hunt Transport Services Inc (NASDAQ: JBHT) is an old-line company that was one of the four Best in Show presenters, up there with VC-funded companies staffed by young tech geeks; that sort of transformation for a legacy company is astounding. A presumed target of disruption becomes a disruptor itself. Third, the tremendous turnout is a micro-fraction of the total size of the industry and it can be easy to forget at an event that even if everybody in a 1,000-plus meeting agrees on the need for change, there are hundreds of thousands of skeptics out there who will need to be convinced. But they also risk getting left behind, so it is possible the Fear of Missing Out will become a key factor as the industry moves to adopt new systems.
Did You Know?
The Port of Los Angeles processed more than 952,500 twenty-foot equivalent units (TEU) last month, a 27.2 percent surge over October 2017 totals. The prior monthly record was set last November with 924,225 TEUs.
"By executing a futures position, you are not doing it to gamble. You are managing risk and trying to control it." — J. Scott Susich of DTN.
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