Tech
Why The Trucking Industry Is So Fragmented And Chaotic
Trucking is an especially fragmented industry, which makes it susceptible to continuous boom and bust cycles. While the pandemic wreaked havoc on several industries, trucking is no exception: the industry as a whole is experiencing a shortage of drivers, high turnover rates, and order delays, among a slew of other problems. With 40% of the global economy dependent on freight and logistics, the industry’s issues resonate across supply chains and through other dependent industries.
Trucking is an $800 billion dollar industry that has proven too tough for one company to dominate.
Low barriers to entry make it easy for aspirants to start companies, and competition is fierce. There are thousands of trucking companies in the United States, and the fragmentation of the market produces huge boom-and-bust cycles.
Some companies have tried to consolidate or roll up smaller operations, but the industry is resistant to it.
New technological developments, such as self-driving trucks, could spur consolidation by removing one factor that keeps the industry so competitive: drivers. That will not be easy — companies are still perfecting the technology, and the regulatory landscape would need to be changed to accommodate these vehicles.
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Why The Trucking Industry Is So Fragmented And Chaotic
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Tesla And Former Camera Supplier, Mobileye Engage In Public Dispute | Tech Bet | CNBC
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Google Built A Synthesizer That Uses A.I. — And You Can Make Your Own | CNBC
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Why Hyundai’s Investing $26B In The U.S.
The U.S. has become Hyundai’s most important country in its push for global growth. It has a $26 billion investment plan that goes through 2028 to continue building out its domestic manufacturing infrastructure as it aims to produce more vehicles in the U.S. CNBC auto reporter Michael Wayland spoke to the CEO of Hyundai to learn more.
Produced and Edited by: Ryan Baker
Camera by: Jeniece Pettitt
Reporter: Michael Wayland
Animation by: Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional Footage: Hyundai
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Why Hyundai’s Investing $26B In The U.S.
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What Makes Paramount Skydance’s Deal For Warner Bros. Discovery So Unique
Paramount Skydance’s proposed acquisition of Warner Bros. Discovery is in regulatory limbo as state attorneys general seek to block the deal. CNBC’s Julia Boorstin, Lillian Rizzo and Alex Sherman discuss the twists and turns of the megamerger, what it means for media M&A at large, and what happens next.
Chapters:
0:00-0:48 Introduction
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Reporting by Julia Boorstin, Lillian Rizzo, Alex Sherman
Produced and Shot by Devan Burris
Edited by Darren Geeter
Senior Managing Producer Tala Hadavi
Addditional Camera Rowan Buck and Andrew Katchen
Animation by Jason Reginato
Additional Footage Getty Images
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What Makes Paramount Skydance’s Deal For Warner Bros. Discovery So Unique
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Meta Is Facing Its Biggest Trial Yet, And Its Future Hangs In The Balance
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Reporter: Julia Boorstin
Produced and Edited by: Andrew Evers
Senior Field Producer: Stephen Desaulniers
Additional Editing: Erin Black
Senior Director of Video: Jeniece Pettitt
Additional Footage: Getty Images
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@Almighty_cornholio
December 18, 2023 at 11:39 pm
Too many hours and not enough pay
@scottsharkey4204
December 18, 2023 at 11:39 pm
Just bought FRGT to pay for my retirement and new laid back life.
@scottsharkey4204
December 18, 2023 at 11:39 pm
Love driving. Have to retire soon. Going to miss my big trucks.
@user-to5fe8jc5b
December 18, 2023 at 11:39 pm
Carb emissions ELD crap low wages killed the usa Truckers.😂😂😂😂
@tylerbuckley4661
December 18, 2023 at 11:39 pm
Try looking at the traitor in chief Joe Biden he is the con artist who created this mess i am a true truck driver who will not follow the commie inchief Pedo Joe Biden 2016 him and china stopped cargo shios off the coast we truck drivers see the economy first hand when there are loads you will definitely see more truckers and mega companies bidding for those loads on that board the best bid wins since freight is atba all time low its harder on owner operators they say we are low on drivers that is a lie we are short on experienced drivers in mega carriers bring out more inexperienced drivers for each new student carriers gets 25,000 dollars per student myself i make 2.00 to 5.00 a mile for my truck and trailer since i am a independent driver majority of what these non experts are lues to con American people we do get incentives called perdiem, then there is when we are at a dock we get layover pay when swift took over a refrigerated company in west saltlake utah they lost customers with their rumored crashes and unsafe drivers which is the rumor caused by dusgruntled drivers fired by said company all mega carriers face this werner swift knight crst etc as for that srlf driving trucks i would not trust them as far as i can throw it is a technology tried in cars once emimented they will fire truck drivers there will be mire accidents those trucks will be operated by a non experienced driver behind the wheel we are the ones who can tell how dangerous the road is by being there in the cab we feel and can pick up how slippery that road is we are the ones who put snow chains on the tires we know how to deal with severe weather like tornadoes hurricanes blizzards etc. Lets see thise driverless trucks escape those situations
@SchoolOfEconomics-gy5ty
December 18, 2023 at 11:39 pm
How big in Rxo logistics in Usa can anyone answer?
@TimQuinm-hm4uu
December 18, 2023 at 11:39 pm
I HOPE ALL DRIVERS STOP WORKING SHOW THIS INDUSTRY WERE ALL DONE WITH THERE MORE HRS AND LESS PAY WELFARE NO LIFE SHUT DOWN THIS COUNTRY CANADA UNTIL WE ARE PAYED RITE WE'VE BEEN OVER WORKED AN UNDERPAYED FOR YEEAARRS STOP WORKING TODAY
@healthfitness9055
December 18, 2023 at 11:39 pm
They pay cheap asf it’s 2023 with 2010 wages
@robertrockwell7581
December 18, 2023 at 11:39 pm
this women is also part of the problem. her and other drivers drive a truck for 2 to 3 years and want to start their own company and go out and tempt to buy 3 or 4 trucks. she and the others will go under to.
@CALILIFE-zq3ki
December 18, 2023 at 11:39 pm
The problem is the brokers they don’t want to pay drivers that’s why there’s a driver shortage
@dennismaloney7241
December 18, 2023 at 11:39 pm
In the 70's, truckers left unionism behind to become independents, competition can be brutal when you haven't any protections: fare-thee-well?
@karenatha7890
December 18, 2023 at 11:39 pm
The comments are the most educational part here.
@josephcraig2663
December 18, 2023 at 11:39 pm
A truck can be bought a lot cheaper than that buddy
@rudyavila327
December 18, 2023 at 11:39 pm
So is there too much drivers in the industry bringing rates down, all i hear is how much driver are needed. 😔
@davidwalling3499
December 18, 2023 at 11:39 pm
Concentration on road way doesn't allow you to see much.
@davidwalling3499
December 18, 2023 at 11:39 pm
Regulation is killing the ability for drivers to make real money.
@MrJodyh54
December 18, 2023 at 11:39 pm
I want to see an automated/autonomous truck stop and chain-up.
@MargoMitchell
December 18, 2023 at 11:39 pm
Ol Peanut butter head Carter DEREGULATED trucking in 1980 an wages have been going down.
@danielakili6705
December 18, 2023 at 11:39 pm
I’m quitting my job and getting my Cdl just to leave my dead end job in a demoncrat led city. fk u Ny!
@mmtravel9052
December 18, 2023 at 11:39 pm
Because of the company’s that fixing rate confs and scamming it’s drivers, I personally know the company Genius trucking LLC from Louisiana that stole 1.7mil in ppp and keep scamming its drivers doing well, not in jail… next time I’ll do the same….
@THRILLBILLY
December 18, 2023 at 11:39 pm
Bidenomics killing American jobs death by a thousand cuts
@AMTruckin
December 18, 2023 at 11:39 pm
Nothing new , its a Democrat Administration , trucking will struggle every single Democrat in the WH . 😅
@brucewales5965
December 18, 2023 at 11:39 pm
I left two companies last year because they kept me on the road 19 days instead of the 10 to 14 days agreed upon.
@user-sq7lg4gv5u
December 18, 2023 at 11:39 pm
In the near autonomous truck that drive from point A to point B by autopilot should be a reality.
@usaf2584
December 18, 2023 at 11:39 pm
Rising diesel costs. Wonder how that happened?
@holgermessner851
December 18, 2023 at 11:39 pm
Hello from Panama. I drove from 2006 to 2014 a truck all over North America. From the border to Alaska to the border to Mexico. Originally coming from Germany, it’s scary how many drivers coming and going in a North American trucking company. If this happens in Europe, we think that the company goes belly up. Why drivers leave? Politics and rules in companies to screw the drivers over. No pay for sitting in companies yards, waiting to get finally loaded. Who who has to earn money in an office is sitting on a chair for a whole day to get the information that he isn’t getting paid that day? Happy about that? I’m sure not. Truckers in North America receive the same pay – since the 1980’s! No increase at all. Then you have your “very nice colleagues” who just take your load and shipping papers. When you get into the office to start your 3 weeks on the road, your load is gone. Seriously? Nobody in the office gives a shxx about it. Why? Well. You don’t drive, the company doesn’t has to pay you. And I have seen myself very good drivers leaving the company because of shxx like this. And the worst of it? The company doesn’t do anything to keep the drivers! If a good worker has a problem with the company in Germany, you had always the managers or owners to sit together with the worker to get fixed what was wrong to keep him in the company. Not in North America! The only thing they say? “Don’t slam the door on your way out….” I had a work really accident. In the beginning, I was very depressed. Who wouldn’t. As the compensation board decided that I would never work again, I thought that’s the end. I worked since I was 15. Looking at it a couple months later, I am glad that I got out of this toxic environment. – For everyone who goes into a supermarket. Think how everything you buy got to your city. Without all the truckers out there, you would have nothing to eat. But everyone is complaining about the truckers! – For your information. I was never thinking about driving a truck. I’m a car mechanic / Supermarket manager / factory worker / IT manager with degree. With the cheap laborers in the EU flooding Germany , I couldn’t find a job anymore. Got a job offer from Canada to drive a truck. I made the license in the army. Good thing I did take the offer!
@melvinhill6726
December 18, 2023 at 11:39 pm
That lady is a complete lie😂 owner operator was out there during covid-19. I made so much money it was ridiculous. I knew in March 2022 I had seen a dramatic downhill load and broker money gouging. I don't know why people hop online just to lie to satisfy other people. Tell the truth shame the devil ✌🏽💯✅🤨 drivers just don't jump around just to jump around. Fleet managers to dispatchers don't run the drivers for 1. Secondly sitting at fuel stations all day. Thirdly need to pay your drivers more on the mileage
@dariusrucker9642
December 18, 2023 at 11:39 pm
The trucking industry held me for 4 months. I figured out quick that it's not worth working in an industry in need of such massive reform.
"Debt peonage" couldn't be more accurate. "Indentured servitude" would be a good term for it as well. You would not believe how many of these companies try to get brand new drivers to lease trucks just to be indebted to the company. It's a predatory system that robs the workers of their livelihoods. Many of these people have little to no education and don't see it coming until they're underwater and out of options and that’s why I had to make research about governmental grants and hired a licensed professional grant writer who helped me in securing a grant and I could start up a real deal for myself.
@jacobkleckner83
December 18, 2023 at 11:39 pm
I left because of the medical regulations
@mban2120
December 18, 2023 at 11:39 pm
This video it a complete lie. I have been a company driver and owned my own trucking company for over 27yrs.
@michaeldaniels6057
December 18, 2023 at 11:39 pm
I say we strike, and this Will stop the greed, but in any event,the west is in trouble because everyone and other countries are tired of the western countries with their greed and stealing resources, which has everyone stress out,brits is going to change the game globally and the western countries will become 3 rd world status, which we're already there, can't keep taking from people, it's just a matter of time before the bubble,bust 💯
@briandaum267
December 18, 2023 at 11:39 pm
not all trucking cumpaneys pay by the mile some pay by the load or by the hour
@terrysmith7229
December 18, 2023 at 11:39 pm
There will never be autonomous semis. People would starve and freeze to death. Travel for cars would be extremely hazardous.
@kendigjl
December 18, 2023 at 11:39 pm
Able bodied males are a threat to "the establishment", and keeping a few million of them trapped in unstable careers keeps them from banding together and demanding a fair slice of the pie. There's ZERO incentive for the government to help truck drivers improve their lot in life. Look at the Canadian trucker convoy to see what happens when even the smallest portion of truck drivers gets a wild hair up their ass and organizes to any extent at all. So, if you're a truck driver hoping for help from the government – you're a fool.
@edwincontreras1150
December 18, 2023 at 11:39 pm
Love to see the different views you get on the roads 😁💯
@miketyson3176
December 18, 2023 at 11:39 pm
Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento
@miketyson3176
December 18, 2023 at 11:39 pm
Rip off mechanics at the 49er truck stop in Sacramento Rip off mechanics at the 49er truck stop in Sacramento Rip off mechanics at the 49er truck stop in
@miketyson3176
December 18, 2023 at 11:39 pm
Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento Rip off 49er truckstop in Sacramento
@miketyson3176
December 18, 2023 at 11:39 pm
Rip off mechanics at the 49er truck stop in Sacramento Rip off mechanics at the 49er truck stop in Sacramento Rip off mechanics at the 49er truck stop in
@miketyson3176
December 18, 2023 at 11:39 pm
Rip off mechanics at the 49er truck stop in Sacramento
@miketyson3176
December 18, 2023 at 11:39 pm
Rip off mechanics at the 49er truck stop in Sacramento Rip off mechanics at the 49er truck stop in Sacramento Rip off mechanics at the 49er truck stop in
@justinscott508
December 18, 2023 at 11:39 pm
Once again this network is wrong.
@emgiusti88
December 18, 2023 at 11:39 pm
How about more trains
@apjwillips3
December 18, 2023 at 11:39 pm
GOVERTMENT CONTRACTING TRUCKING. CHECK IT OUT.
CROWLEY TRANSPIRATION. INDEPENDENT DRIVERS
@DelaTroseTykoon
December 18, 2023 at 11:39 pm
Self driving trucks will never become a thing Teslas failed every now and then imagine a 80,000 pound vehicle at 79 mph having a Computer malfunction it puts a huge risks on 4 wheel drivers and no company wants to pay millions in life insurance policys
@KbB-kz9qp
December 18, 2023 at 11:39 pm
If non-trucking meddling types in Silicon Valley keep threatening driverless trucks, fewer younger folks will commit to driving a truck.
@CowgirlUpTrucking
December 18, 2023 at 11:39 pm
Where is this idiot getting his information from. A New Truck will cost $200,000+ & the wait is about 18 months. The cost of trucks skyrocketed during Covid. The female trucking company owner must do specialty loads because there was no slow down in most freight in most markets. There is no driver shortage, just a pay shortage and brokers scamming drivers.
@bobbywilliams21
December 18, 2023 at 11:39 pm
I was a truck driver for over 20 years before I actually took the opportunity of applying for a business Grant which I use to start my own trucking company. These are the few tips i will tell all truck drivers and for those who are interested.
1) Protect your license. Companies will ask you to break the law. Almost force you to. Don't do it. Don't get greedy and speed to make more money. Your license is more important than kissing your companies butt or making a few extra bucks.
2) Try and stay local. You may have to work crappy jobs for a year or so, but if you still have a good driving record and you are a good worker you can move on to a really good job easily.
3) Get an hourly paying job. It's just better. I got to a point where I would never work for anything other than hourly.
4) Get a job that pays overtime. Anyone that tells you that you'll just pay more in taxes don't know how taxes work.
Companies will tell employees that most of your overtime will go to taxes to trick dumb employees into working for less. Not a penny more is taxed because it's overtime
5) Always keep your ears open for a better job. Be a good/hard worker but as for loyalty, be loyal to you and your family.
6) Something I always say out loud on a daily basis… safety first. Live your life on the motto of safety first. It should be tattooed on the inside of your eyelids.
7) The number one rule I always advice is that you always keep your ear open for better opportunities. I was able to start my own company because I stayed inform with the available offers around me.
If you are also thinking of starting your own Trucking company, I will advise you look into grants.