Founder’s Field Guide
Episode 22 Where There Is Mystery, There Is Margin
Founder’s Field Guide

Episode 22: Where There Is Mystery, There Is Margin

Where There Is Mystery, There Is Margin

Ryan is the founder and CEO of Flexport, a technology platform for global trade. We cover the past, present, and potential future issues in the global supply chain, the role Flexport plays in the supply chain, and lessons he's learned building a global business.

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[00:03:27] - [First question] - Overview of what Flexport does

[00:04:52] - His introduction into the world of shipping

[00:06:52] - Difference between parcel and freight

[00:08:56] - Market cap of the overall shipping industry

[00:09:27] - Fragmentation of shipping and what Flexport is solving for

[00:12:55] - Worst parts of the shipping world

[00:15:37] - Improving the tech behind the shipping container

[00:19:09] - Why the shipping container changed the world

[00:21:30] - Teams and outsider perspectives in solving problems

[00:22:37] - How their business could make shipping more efficient and reduce costs

[00:25:27] - Where the margins and profits are made in shipping

[00:27:14] - The finance side of shipping

[00:28:59] - Maritime law and the ocean

[00:31:00] - How much is left in the digitization of shipping

[00:33:51] - The perfect state of shipping using Flexport

[00:38:22] - Investing in hard assets to expand the business

[00:41:06] - Lessons about building a business and global coordination

[00:43:18] - Multidisciplinary thinking among their team

[00:44:07] - Global supply chain issues in light of Covid and ocean policing 

[00:48:02] - Testing out demand in the beginning

[00:50:31] - The process of testing out new ideas and killing off losers

[00:52:36] - Important lessons/themes for founders

[00:54:54] - Hardest learned lesson, fundraising

[00:58:09] - Other opportunities in shipping

[00:59:50] - Lessons for creating a new standard

[01:02:25] - Using their standardization to improve global relief work

[01:04:43] - Creating synchronicity in a company

[01:07:12] - What he’s excited about for the future

[01:07:56] - Kindest thing anyone has done for him

Where There Is Mystery, There Is Margin

Introduction

Patrick
My guest today is Ryan Petersen, founder and CEO of Flexport. Flexport is a technology platform for global trade. In this conversation, Ryan takes us through the fragmented world of international freight shipping, and we dive deep into the history and inefficiencies of the system. We also cover how shipping containers were standardized, how new protocols get adopted internationally, and the challenges of doing business in the “no man's land” of international waters. Ryan is the type of entrepreneur I enjoy talking to most: he has incredible domain knowledge, high energy and is tackling an enormous global problem. I hope you enjoy my conversation with Ryan Petersen.

Origins of Flexport

Patrick
Ryan, I think a neat place to begin this conversation just for those unfamiliar with Flexport is to ask you what the business does. And then I'm going to ask you how you encountered the problem that Flexport originally designed. But first, just as a basic overview for the listening audience, what do you do in the world?

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