Ed Stockman equates his tech company Newtrul as a sort of Expedia or Stubhub for the trucking industry—a one-stop online shop matching shippers and truckers instead of each end exchanging multiple calls or emails.
“We are a technology platform that allows anybody looking for a truck with anybody that has a truck to easily and quickly find each other and transact,” Newtrul co-founder and CEO Stockman told Forbes.com.
In this environment of vastly increased deliveries and shipments, sparked in large part, by the Covid-19 pandemic, Newtrul’s system has caught the attention of investors with the Chicago-based company announcing Sunday, a new $5.3 million capital infusion.
Lead investors include SignalFire and Flex Capital as well as previously unannounced investors that include Bessemer Venture Partners, Crowley, Oren Zaslansky, CEO of Flock Freight, John Larkin, and Brad Hollister.
Stockman is pleased with the mix of investors, especially SignalFire and Flex Capital which he described as “large new institutional investors that will have tremendous amount of experience with marketplaces and building unicorns and all of the ideal characteristics one would wish for when taking in new money. They both share the same vision as us in terms of developing software, and potentially even giving away software, to both parties.”
“Brokers pay astronomical premiums to arrange truckload capacity manually over the phone, often wasting over half their margin,” said Chris Farmer, SignalFire founder & CEO in a statement. “Newtrul modernizes this outdated practice with its integrated aggregation platform that lets them save both money and time on matching freight with quality carriers.”
Indeed, Stockman says the challenge for shippers trying to find the right trucks to move their goods has become more acute as demand for shipping has spiked but efficience hasn’t followed.
“We’ve gone, in the last three years, from 19,000 freight brokerages to 22,000 freight brokerages so the industry is not consolidating it’s just getting further fragmented which means truckers just need to call more places now or log into more websites,” said Stockman.
While so much has been made of a long-standing truck driver shortage, Stockman disputes that assesment asserting, “There’s not a driver shortage, they’re just driving all over the place empty. That’s because they have to make 100 different calls a day to find the best shipment for their trucks.”
One of the other issues Newtrul’s platform addresses is what Stockman terms “transparency” via its ratings system. Users can rate their experiences with shippers, carriers and receivers for all to see.
Stockman says Newtrul’s “sweet spot” is what he terms mid-market trucking companies that operate 50-500 trucks rather than owner-operators or individual drivers. Over the past year, Newtrul has added more than 10,000 active carrier users of all sizes to its platform and is currently working with nearly 75 customers, according to a company release.
It costs shippers and trucking companies zero to register for access to Newtrul’s platform. The registration process takes under 20 seconds. Stockman says using Newtrul’s system can save trucker’s 70% of the cost of finding a shipment and customers are available immediately upon registration
Freight brokers pay a transactional fee to place shipments saving them 90% of the cost to find trucks, Stockman said.
This latest round of funding follows a Seed Series raise of $2.25 million in January 2021 led by Autotech Ventures with participation from I2BF, Fission Ventures, and Plug and Play Ventures.
Stockman says the company will put its new cash infusion to use to build Newtrul’s platform to force the kinds of change he believes will benefit the shipping industry by breaking some bad old practices.
“What we typically see from a lot of our brokerage clients is they may have 15,000 trucking companies set up and have used 300 in the past year, so just within their own network it’s like finding a needle in a haystack finding the right truck,” said Stockman. “They need better technology to manage their relationships and we plan to not only build this but give it away for free as it all supports the greater grandiose vision of digitizing a transaction.”
My Favorite Investment Writing of 2022 – Of Dollars And Data
With 2022 coming to a close, it’s time for my annual tradition of gathering my favorite investment writing of the year. I started this tradition in 2017, and have continued it ever since (2018, 2019, 2020, 2021).
However, unlike previous years, 2022 was painful for investors of all types. Stocks fell, bonds fell, and crypto really fell in the worst market environment since 2008. And, though this year was difficult for all of us, the silver lining is all the great investment writing that came out of it. With that being said, I present my favorite investment writing of 2022:
The first piece on this list was technically written in February 2021 (and featured on last year’s list). However, given its accuracy and level of foresight, I thought it would be the perfect way to start this year’s list as a reminder of how far we’ve come. If there’s one line that I will never forget it’s:
Eventually, everyone figured out that Galileo was right. Eventually, everyone will figure out that Cathie Wood isn’t. And it won’t take as long either.
Yes Drew. It didn’t take long at all.
Morgan remains my favorite writer in finance because he is one of the few people that can make me re-evaluate my most cherished beliefs. In this piece he challenges our reliance on data and logic by demonstrating why people don’t always behave as rationally as we think they will. Filled with beautiful stories and counter-intuitive insights, this is another Morgan Housel classic that you won’t want to miss.
While I don’t agree with everything that Ben Hunt writes (he can be too bearish for me at times haha), I recognize that he is one of the best thinkers in our industry. In this post, he provides a brief history of financial markets during the era of declining interest rates and how 2022 flipped everything on its head. If you want to have a better understanding of monetary policy and how people respond to interest rates, this is the piece to read.
Sometimes I read a Josh Brown piece and can’t perfectly describe what it’s about, only that you have to read it. This is one of those pieces. In it, Josh walks you through the last few years in markets and explains why everything seems to have taken a sudden 180. Though there are some things that you weren’t suppose to see, thankfully, this piece isn’t one of them.
I love it when a writer provides a simple rule of thumb that makes my financial life easier. In this piece Katie does just that. Using her rule, you’ll be able to quickly calculate out how much you need to save for retirement based on how much you want to spend (each month) in retirement. Not only is this rule practical, but Katie explains it in a fun and relatable way. For anyone who wants great financial tips from one of my favorite people in the industry, look no further than Money With Katie.
With all the bullshit that there’s been in the investment industry over the past few years, this piece from Benn Eiffert is a breath of fresh air. Though Benn is mostly known for being an expert on volatility, he demonstrates his overall investment knowledge wonderfully in this scathing takedown of an industry that has, unfortunately, conned so many. While there’s a lot of bullshit in the financial world, thankfully, you won’t find any in this piece.
While many writers will discuss risk within your portfolio, far fewer think about it with regards to your income and your career. In this piece, Chris Keith teaches a lesson that took me a little too long to learn—diversification shouldn’t stop with your investments. While owning a mixture of income-producing assets can work wonders, having a mixture of different income sources is equally, if not more, important. If you want to learn how to be a little more anti-fragile with your finances in the future, read this.
Jack Raines is the fastest growing financial blogger that I’ve ever seen and this article helps explain why. In it, Jack explains the six types of wealth and why they are all important to your life. Though only in his mid-twenties, Jack writes with the wisdom of someone decades older. Don’t just take my word for it though, read this piece and find out for yourself.
Another young blogger that has taken the financial world by storm, Kyla Scanlon is the go-to person for understanding what’s happening right now in the markets and the economy. In this piece she defines a term that was since co-opted by many others—the vibecession. While she is mostly known for her TikToks, Kyla’s sometimes quirky and always insightful writing is not something to be overlooked.
Ben wrote a lot of great posts on the housing market this year, but this was my favorite because it addressed the elephant in the room—luck. Given that purchasing a home is likely to be the biggest financial decision of your life, luck plays an important role in such transactions. Ben’s piece is useful in this regard because it highlights how this plays out in the real world. If you are in the market for a house (or will be soon), this is the piece to read.
I love when Michael Batnick does posts like this because there are so few writers that can take the 40,000 foot view and summarize it in such a succinct and insightful way. This piece is no exception. In a year where there are many lessons to be learned, Michael drops 20 of them with ease. My favorite is:
Diversification is the only answer to an unpredictable future. If everything is working, you’re not really diversified.
Amen, Michael. Amen.
Last, but not least, we have The Crypto Story from none other than Matt Levine. Matt is the best daily writer in finance, which means that he tends to write about things that happened in the last 24 to 72 hours. However, with this piece Matt created an evergreen epic that dives into the history of crypto and how its future might unfold. While this piece clocks in at around 40,000 words, Matt’s simple way of explaining such complex topics make it an easier read than you might expect. Don’t miss out.
I hope you enjoyed this year’s annual review. Happy investing and thank you for reading!
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This is post 324. Any code I have related to this post can be found here with the same numbering: https://github.com/nmaggiulli/of-dollars-and-data
Ontario Teachers' Announces Appointment of Sustainable Investing Leader Anna Murray – Ontario Teachers' Pension Plan
TORONTO, Dec. 6, 2022 – Ontario Teachers’ Pension Plan Board (Ontario Teachers’) announced that Anna Murray has been appointed to the role of Senior Managing Director and Global Head of Sustainable Investing effective December 5.
Working within Total Fund Management, Investment Division, Ms. Murray will play a leadership role in supporting Ontario Teachers’ long-term plan to create a lasting, positive impact while creating value for members. By working closely with senior leaders and investment teams across the organization, she will execute on the fund’s ambitious climate strategy and net-zero targets, advance its approach to impact investing and oversee corporate governance activities including proxy voting and public company engagements. She will also oversee the continued integration and assessment of Environmental, Social and Governance (ESG) opportunities and risks in the investment process.
“Sustainable investing is a key part of Ontario Teachers’ strategy as it generates positive, real-world impacts while supporting long-term value creation for our members. We look forward to Ms. Murray and her team helping us meet our impact-related commitments, as well as continue to evolve our approach and build on our leadership in sustainable investing,” said Ziad Hindo, Chief Investment Officer.
Ms. Murray has extensive experience leading and developing sustainability strategies. Most recently, she was the Global Head of ESG for Sun Life Capital (SLC) Management where she was responsible for integrating ESG risk management and value creation practices into investment decisions and management across the firm’s global investment platform. She also worked as Global Head of ESG with BentallGreenOak, SLC Management’s real estate investment manager and a globally recognized provider of real estate services.
Ms. Murray is Co-Chair of the Principles of Responsible Investment (PRI) Real Estate Advisory Committee and of the Environmental Committee at the Pension Real Estate Association (PREA). She also serves on the Board of Directors for the Responsible Investment Association and the Canada Green Building Council. She has been named one of the Top 100 Women in Canada by the Women’s Executive Network, Top 40 under 40 and one of Canada’s Clean50, which recognizes sustainability leaders who have made exceptional contributions to the clean economy. She holds an international MBA from the University of British Columbia and a law degree from York University with a focus on environmental justice and sustainability.
About Ontario Teachers’
Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is a global investor with net assets of $242.5 billion as at June 30, 2022. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 333,000 working members and pensioners.
With offices in Hong Kong, London, Mumbai, San Francisco, Singapore and Toronto, our more than 400 investment professionals bring deep expertise in industries ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.6% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on Twitter @OtppInfo.
Phone: +1 (416) 419-1437
Record investment in MB highways in store for 2023 – DiscoverWestman.com
MLA for Turtle Mountain, Doyle Piwniuk, says he’s looking forward the New Year as one full of accomplishments.
“I’m very optimistic, we have a very big year going forward provincially,” he explains. “We’re looking at economic development, reconstructing of more highways, like Hwy 23 in the region, and we have more highways to fix. Going forward in 2023 there will be a record investment in our highways.”
“It’s also going to be a good year for the Turtle Mountains area too because of the opportunities at the International Peace Garden and the economic development in the different communities. I believe we are going to have a very bright 2023,” adds Piwniuk.
“On behalf of my family to your family, I want to wish you a very merry Christmas and a happy New Year,” he shares. “And, any time you want to get ahold of me please contact firstname.lastname@example.org or you can call our number at 204-552-0130.”
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