Maybe more importantly than cash and caché, Convoy seemed keen on making trucking better - more efficient and more just.
With the power of technology, it seemed like the coastal trucking startups were going to fix everything wrong with trucking - double brokering, sexism, truck stops with no restrooms, detention pay, delayed deliveries, lack of capacity, lack of drivers, and so on.
In part because of these low rates, Convoy was only able to achieve breakeven or slightly positive margins during hot times in trucking, a source told Solomon.
These trucking startups also came on the scene when every random company was branded as a tech company - whether you were selling mattresses, office space, or used designer clothing.
As The Information reported, Convoy employees were baffled as to whether the company was a trucking company or a technology company.
The digital freight brokerages seemed to promise that they would revolutionize trucking like other West Coast techy creations.
So too could Convoy, Uber Freight, Transfix, Loadsmart and the like overhaul America's $875 billion trucking industry.
https://www.freightwaves.com/news/convoy-shutdown-trucking-startup
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