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The Times Tech Podcast

Flexport's Ryan Petersen: "Plan for the unimaginable"

The Times Tech Podcast

Will Morley

Business, Unknown, Technology

4.9654 Ratings

🗓️ 7 August 2020

⏱️ 41 minutes

🧾️ Download transcript

Summary

The Sunday Times’ tech correspondent Danny Fortson brings on Ryan Petersen, founder of Flexport, to talk about being a canary in the coalmine (3:00), where the economy is recovering (5:00), what happens when planes stop flying (6:30), how he got involved in PPE shipping (9:20), working with the NHS (13:00), starting out in his twenties importing Chinese motorcycles (14:30), learning that it is hard to make money (17:15), starting Flexport (19:15), having entrepreneurial parents (21:45), the Trump factor (24:30), how he makes money (26:05), his worst day of work (27:30), remote work (29:10), raising $1bn (31:50), and getting backed by Softbank (37:10).

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Transcript

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0:00.0

Yo, technology.

0:03.0

What is it all about?

0:04.5

I think too many of us got used to this, like, just in time, everything, just in time

0:08.2

fundraising, just in time supply chains.

0:10.9

And just in time is great.

0:12.4

As long as you have a stockpile to ride out, like, if you're building a model that's

0:15.9

based on a normal distribution curve, it's probably going to turn out ugly for you at some

0:19.9

point.

0:24.3

Hello. distribution curve, it's probably going to turn out ugly for you at some point. Hello and welcome to Danny in the Valley. We are back for another week. How is everyone doing?

0:30.8

I hope well out here in Oakland, we sally fourth. As Bob Marley says, sun is shining, weather is sweet. So I'm not going to

0:40.6

complain. And why would I? Anyhow, I am employed, which is not to be underestimated these days.

0:46.3

And I get to do this podcast every week where I get to meet interesting people doing interesting stuff.

0:52.5

And this week's guest falls firmly in that category.

0:56.8

Ryan Peterson is the founder of Flexport, which is a San Francisco-based freight forwarding

1:02.4

company.

1:03.4

Now, if you don't know what that means freight forwarding, that's all right.

1:07.2

Most people don't.

1:08.3

I know about it from my previous job covering resources and energy and all the

1:14.4

kind of stuff that gets moved around the world but basically freight forward is make sure the

1:18.4

stuff gets from one port to another kind of handling all the nitty gritty of global trade and flex port

1:24.7

is a startup they have put a whole layer of software into it and kind

1:30.2

of try to make it as easy and kind of pain free as possible that's the idea anyway and i want to talk

...

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