AI, Capital Markets, and Transportation - How Did We Get Here? As the @SpaceX IPO captures the headlines, it's worth looking back at how we got here. Did you know that just over a century ago, the public markets expected stock to be backed by hard assets? As The Wall Street Journal asserted in 1901, U.S. Steel stock should “represent…the value of the plant.” Transportation was a part of this debate. As Charles Francis Adams Jr. asserted before becoming president of Union Pacific Railroad, “Transportation cannot add to wealth. It never makes one ton two.” The concept of paying a premium for IP, growth, and future value really only took root during the Gilded Age. Fast forward to today, to trillion-dollar companies like SpaceX. The current markets assign values to future growth only because of this evolution in thinking. Worth a retrospective to understand. wsj.com/finance/gilded-age-e…

Congratulations to autonomous trucking pioneer Einride on its IPO on the NASDAQ this morning. And also great to see Lorne Abony in the wild! linkedin.com/safety/go/?url=…

Kudos to @FedEx on its spinoff of FedEx Freight. $FDXF is now an independent $89 billion public company focused on LTL. As @XPOLogistics demonstrated when it spun off @GXOLogistics and RXO to create three pure-play companies, the public markets like pure-plays, because (a) management teams are focused on the one thing that matters most; (b) investors can see standalone financials; and (c) Occam's Razor tends to produce better outcomes. Will FDXF and FedEx both benefit from this move? investors.fedex.com/news-and…

Today marks the end of an era! Kevin Knight is retiring from Knight-Swift Transportation. 36 years ago, Kevin and three cousins founded Knight. Since then, they built an $8 billion giant in transportation that is widely considered a leader in truckload, along with LTL, intermodal, and logistics. In an era when transportation is experiencing record volatility, it's worth watching our industry legends and learning from their long-term successes. freightwaves.com/news/knight…

Meet @ShipStation Global, a multi-billion-dollar company resulting from the merger and rebranding of @Auctane and @WWEXGroup. And kudos to Tom Madine, the CEO of the combined business. The merger combines two things: WWEX Group’s freight brokerage and Auctane’s AI-powered shipping software. This is a bold move! Rooting for their success. businesswire.com/news/home/2…

AI hype is everywhere. But where is the smart money actually going? LIVE today at noon ET, @ScottwLuton and @Wileycwj sit down with @BenjaminhGordon of @CambCapital to talk supply chain investment, automation, operational resilience, and the future of logistics. Join us live: hubs.ly/Q04j761W0 #SupplyChain #AI #Logistics

Will Amazon's supply chain announcement roil ecommerce fulfillment? I'm hearing two very different things from the markets. On the one hand, many CEOs of ecommerce fulfillment companies are bullish about 2026, and continuing to grow rapidly and profitably. On the other hand, many PE firms are spooked by Amazon's announcement. Some are worried that fulfillment companies dependent on $AMZN could be obsolete. And others are worried that even fulfillment companies totally independent of Amazon could still be materially harmed. Who do you think is right? And if you are an ecommerce fulfillment executive, what are you doing differently to ensure your long-term growth remains strong?

Kudos to @GetSTORD on raising $250M to continue to scale up in ecommerce fulfillment and AI! freightwaves.com/news/stord-…

Is US maritime logistics poised for growth? TMV, @Prologis and the American Bureau of Shipping think so. And they are investing $200M behind this thesis. Wishing Marina Hadjipateras, Soraya Darabi, William O'Donnell and the team success in strengthening American maritime supply chains and creating value! wsj.com/logistics-report/ven…

AI is changing supply chain fast, but where is the real value actually being created? On this episode of Enterprise Unleashed, powered by @DOSS_hq, @ScottwLuton and @wileycwj talk with @BenjaminhGordon of @CambCapital about automation, investment trends, operational resilience, and what future-ready supply chain companies are doing differently. 🎧 Listen now: hubs.ly/Q04gwVHF0

Good news for electric trucks in California! Particularly relevant for companies like Nevoya, @einrideofficial and @Tesla, as well as Fortune 500 companies that want to reduce their carbon footprint. freightwaves.com/news/new-po…

The Logistics Managers' Index is soaring. April reflected the fastest level of expansion since March 2022. Expect a year of supply chain growth and volatility! the-lmi.com/april-2026-logis…

What are investors actually looking for in supply chain right now? In Enterprise Unleashed, powered by @DOSS_hq, @ScottwLuton and @wileycwj sit down with @BenjaminhGordon of @CambCapital to unpack AI, automation, valuation, and the trends shaping the future of supply chain investment. Register now: hubs.ly/Q04gl75B0

In just the last few minutes, much has already been said about the Supreme Court 9-0 ruling against CH Robinson and truck brokers, in the case of Montgomery vs. Caribe Transport II. There is no doubt that this verdict will create massive disruption in the transportation industry. Yet amidst major change, we will see enormous opportunity. Who do you think are the best software providers for providing carrier safety, compliance, and vetting analytics? Options include Fleetworthy, Lytx, Motive, Samsara, SafetyCulture, Highway, Idelic (now Descartes) and many others. And what do you think would make these solutions better? freightwaves.com/news/breaki…

His claim is correct. We have a fertility crisis. > 62% sperm count drop globally 1973 - 2018 > 23% drop in just 16 years > rate of decline accelerating > dropping 2.64% per year since 2000 I explain below how to improve yours. I've been working on improving my fertility markers for the past two years. They are elite for a early 20 something (I'm 48). Total motile count: 411 million Motility: 64% Morphology: 12% Concentration: 212 million Count: 642 million To put these numbers into perspective: the WHO considers a motile count above 42 million as normal, mine is 411 million, nearly 10x. And a normal concentration is 16 million (mL), mine is 212 million (mL). These personal-best fertility markers coincided with my first-in-human test result showing zero microplastics in my semen. Studies have shown 100% of men have microplastics in their semen. Microplastics hurt sperm. Human studies show the impact of various types of plastic, associated chemicals, and other toxins on male fertility: 60% fewer normal shaped sperm (from PFAS) 5x higher odds of low sperm count (from PTFE) 10% lower sperm concentration (from PTFE) 15% lower swimming ability (from PTFE) 41% lower swimming ability (from PET) 12% lower sperm swimming ability (from BPA) 3x higher odds of low sperm count (from Phthalates) 2x higher odds of poor swimming (from Phthalates) How to improve your fertility: > 7 to 9 hours of sleep, consistent bed and wake times > exercise: cardio fitness, strength, and muscle > reducing body fat and build lean mass > avoid alcohol, tobacco, and cannabis; each independently reduces sperm concentration, motility, and morphology, with cannabis also affecting sperm methylation. > cut junk food, added sugars, and excessive saturated fats > eat an anti-inflammatory, anti-oxidant diet (Mediterranean and green-Mediterranean): polyphenols, fiber, olive oil and other MUFAs, omega-3s (algal, fish, walnuts), plant protein, fresh veggies. > get full micronutrient coverage: zinc, selenium, folate, vitamins C, E, and D (blueprint solves this). > manage stress and cortisol load; chronic stress lowers testosterone and impairs spermatogenesis. Things I'm doing: 1. Sauna (dry). My toxin blood panel confirms sauna clears plastic related chemicals: BPA, phthalates, PFAS, flame retardants, pesticides. The plastic particles themselves are too big to sweat out directly. Heat may activate other clearance routes: bile flow through the liver, the cell's internal cleanup system, and the gut barrier. Humans have almost no enzymes that can break plastic apart, so the body has to physically push it out. 2. Reverse osmosis water filter. Drinking water is likely a major source of microplastic getting into your body. A reverse osmosis filter pushes water through a very tight membrane and strains the particles out. I filter everything I drink. 3. Trying to rid my environment of the big plastic items: cutting boards, cups, plates, food storage containers, non-stick pans, cling wrap, tea bags, water bottles, kitchen utensils, kettles, and synthetic clothing. Note, as hard as I try, I'm always finding new plastic things in my life. This can be all-consuming thing so try to just knock out the big ones. The studies: > meta-analysis with total 42,935 men; significant decline in both sperm concentration and total sperm count among men from Western countries, with total sperm count by about 59%, between 1973 and 2011. > A follow-up global meta-analysis, expanded the dataset to 223 studies and 57,168 men found the drop in sperm count was not only a Western phenomenon > total sperm count dropped by 62% globally between 1973 and 2018, including in men from South America and Asia. The rate of decline has also accelerated since 2000, reaching approximately 2.64% per year. > CDC data also showed US fertility rates peaking at the replacement level of 2.12 births per woman in 2007, then taking a sharp downward turn by 23% down to 1.62 in 2023.

Sign of the times! @BMO is divesting 80% of its transportation lending group to @Stonepeak. To my many smart freight friends: how would you interpret this? Shedding volatility, selling at the bottom, transitioning to a partner better suited to the freight cycle, or something else? freightwaves.com/news/bmos-t…