Global Trade This Week – November 15th, 2022
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Keenan Brugh 0:00
You're watching Global Trade This Week with Pete Mento and Doug Draper.
Doug Draper 0:08
Hello, everyone, and welcome to Global Trade this week. I am your host, co host, Doug Draper. And on the other side of the country is Pete mento. And can't thank you guys enough for chiming in today. This one's gonna be hot. We were just talking. Before the conversations that we have before we go live are just comical. I wish there should be an outtake blooper reel of the dialogue we had before the show. And the funny or the great thing is, is Keenan is with us with CAP logistics. They're the ones that make all this happen. So I just want to say thanks, Cap logistics, please visit them at cap logistics.com. I think I've said that word enough. Pete. So it's time to jump into this thing. Before we do that, any anything you want to talk about? You want to take some Alka Seltzer or anything to calm yourself down before we jump into this thing?
Pete Mento 1:05
No, if we if we were not professional men, like if we did not work for if we did not work for companies, and did not have mortgages and children and colleges, we could we could you know, we could have like a podcast, where the two of his talk about what we talked about beforehand with Kenan Superboy, producer extraordinaire, we just melt down in the beginning of this, but we can't do that kind of stuff. So no,
Doug Draper 1:33
unfortunately, anyway. Well, let's just, you know, 321, let's kick this thing off, buddy. All right. Yeah. So
Pete Mento 1:42
what have I said about Bitcoin people? What do they say about it? So you know, over the past four or five days, I suppose we've had a meltdown on one of the big I don't even know what to call it at this point. call it an exchange, we can call it a we can call it a fund. Let's just call it what it is, which is a scam. What we call it a scale. A big giant lie. FTX has collapsed upon itself because of the evil that men do. And the reason that we have financial regulations, the reason that we have central banks, the reason that we have federal legislators, and the reason that we have oversight, is because money and purchasing, and greed makes people do awful things, Doug, so as FTX was, was falling all about itself this weekend, all I could think about was Kenan was probably in some mountain retreat someplace, you know, he's probably off. And, you know, some weekend thing that he that he was doing with his girl, where they were, like, learn to commune with squirrels, you know, or something like that. He was just in one hand, he's got like, his Hydroflask, full of rainwater. And he's Yeah, he's like, he's, he's covered in some, you know, zero. cruelty free sunscreen. And he's, he's just got like a garbage bag full of Gorp. And the other hand, and he's just his hairs all down, like a wookie. These screens here. Live as you can, right, just just screaming crypto into the sky, because the pain is almost too much for him to overcome. The the fact of the matter is that we have somebody who apparently was doing one of about 1000 things. So let's just break that down from it. It's been four days at this point. And all we can tell you for sure is there are as many rumors about what exactly was happening, as there are possibilities for grift and felonious deeds at this point. Because since there wasn't enough oversight on the kinds of transactions that we're having on this non Fiat shit currency, we can't tell you precisely what was happening. So let's run down some of those rumors, shall we? One of them was it was just a Ponzi scheme. That money was going from this particular fund into another fund. That was a research partners fund, where he was actually going taking the money from the Bitcoin and putting it into actual, regular normal, boring stock trades. And when that all fell apart, he couldn't steal from one to support the other. Well, that's a problem too, that it was just a gigantic money laundering scheme, which I, you know, I always thought it was to begin with three, that he was taking the money all along, and just swirling it away in bits and places and that he was giving it to other partners and it was just a gigantic theft. Stepped moto from the very beginning like there was there was never he had a plan the entire time. And that as he saw people coming towards it, he started chemo Get off offshore into the Bahamas where apparently he is to. This is what happens people. This is what happens when you don't have a legitimate use of force with regulations in the rule of law watching after. I will say again, as much as I love the idea of a non regulated market for how we barter goods and services. I don't trust this one. I'm not there yet. Because I think that people generally are going to do what's best for them, and not what's best for the market. Last thing I'll say about this dog, someone's going to find this guy, somebody who lost a lot of money is going to find this guy. And I don't think that there's a jail cell on planet Earth, that's going to keep him safe from the wrath of the person that he has done dirty to go and clean. And I'm very sorry, I know, every day this, this fantasy of yours collapses harder and harder on itself. But I think it might be over with the book. But Doug, one thing I will say and this, this sticks with the continued hilarity, you can't write this kind of comedy. Bitcoin still hasn't collapsed. If you look at it today, like I'm sure we'll get off here, I'll look at the price of Bitcoin. I mean, it's gone down. But it hasn't collapsed. It hasn't collapsed.
Doug Draper 6:30
My only comment to all of that Pete is, is there going to be Netflix, Hulu, Apple TV, or prime that's going to run the the made for TV movie about this whole scenario that that will come out. They turn them out pretty quick, the so that'll come out, probably spring of 2023. But that's it. I don't know what else to say.
Pete Mento 6:54
My bet is going to be amazon.com Because Bezos has a real problem with these types of people. So I think that he would probably put some some real money into depicting this. I don't know who would play this wackadoodle I just put some thought of this. Maybe maybe the kid who who did Zuckerberg, they could give him some goofy hair. And he could do that. Oh, what was his name? The Facebook movie that remembers that?
Doug Draper 7:19
Eisenberg.
Pete Mento 7:21
Jesse Eisenberg. Is that it? Yeah, I
Doug Draper 7:23
think I don't know. The other guy is. Yeah, he is an excellent actor. And then God, I can't think of this guy's name by the end of the day he was in. Wolf of Wall Street and
Unknown Speaker 7:34
the Fiona. Jonah Hill. All right. What's up guys? I'm here with my boy Sam from FTX. We're at crypto Bahamas conference. We're going to start the day we're going to be amazing day we'll get started. We'll do a get ready with me. Sam, where are you going, bro?
Pete Mento 7:57
Well, let's keep our stroke fest going today. Well, we're looking at the aneurysms before the this this thing is over with.
Doug Draper 8:04
Yeah, yeah, this one's a little more tame. But it goes back to the transportation side of our global trade and logistics and supply chain. And this is an interesting take. So there's been a lot of news and information about FedEx, and kind of how 2022 has been a little bit of a unique year for those guys with some of their earnings. And you're seeing a lot of press and things even just this past weekend about fixing their network. I think they're furloughing a bunch of the LTL drivers and things of that nature. So my take on this Pete, is the whole reason that they're having all these challenges is the concept of the subcontractors that they have with their ground delivery service. Now this is going to test folks knowledge but 9097 ish. FedEx needed to get into the ground market and they bought a company called RPS. There's a parent company, I can't remember the name of it, but RPS was an entire contract model. They had to take over those contracts. And so much like people are familiar with Amazon right now. And they outsource their final mile delivery. FedEx has been that way. Basically for 20 plus years. And I think with the explosion of E commerce, and the disgruntled nature of final mile people, I think that's been been a big problem. So 100% of the ground network is subcontract some sub contract and out and their whole network has been siloed. Right. If there's any FedEx folks out there, I may be getting some of this incorrect. But 30,000 foot view, I think it's spot on. So they came out with this thing called Network 2.0, which is about a $2 billion dollar investment to consolidate all these silos, right? Because you got ground operating, as I just mentioned, you got the LTL network, you got the traditional Express and all of those have not really collaboratively work together as much as they could. And so The network 2.0, which was rolled out or talked about earlier this year, so I think that they'll be able to turn the page. FedEx I think is a great company, I got a lot of respect for those guys. But the forward lean on this one, Pete is that they got to focus on the book ends, in my opinion, which is the pickup and delivery, right, those subcontractors, they got to get them in the fold. And the concept of chucking packages on porches and all the horror stories we see with, you know, out there on social networks and stuff, and then they need to gain some LTL efficiencies. Again, part of what they talked about on Saturday is reducing some of the drivers, they're going to try to consolidate stations. And it's going to be a big, big revamp, operationally. But I'm all for it. Bring it on, it's all part of the rehab of the roaring 20s that we talked about for so many, so many shows in the past. So anyway, interesting, at least they're in my opinion, identifying it. And my personal opinion is you got to deal with the subcontractors that handle the pickup and delivery specifically with brown network. That's really been the growth of the of the E commerce and that'll help. So that's my take on it. What's your thoughts?
Pete Mento 11:16
It's funny, you know, Doug, I was going over my notes over the news, you know, it was this morning or last night. And I saw it was must been last night, I saw this article. I supposed to be a great thing for global trade this week. And I said, No, there's no way Doug doesn't pick this. Story has dug written all over it. And it's a ground thing. And that's kind of Doug's dad leaving that alone. But this, this falls in line with a lot of things that you generally predict, right? So this, this idea of, you know, the outsource problem, this idea of, of not having your arms around a solution, the idea of companies that haven't really invested in their own solutions. I see this as a harbinger of bad news to come. So we had a week of bad news in this industry. So ch Robinson announced some pretty significant layoffs. Pretty significant, you know, I think, you know, just not a lot of us in this industry that weren't, weren't aware of a friend that wasn't hit with it. Because, you know, so many people have it, Robinson. And then FedEx coming out with that. And now I'm beginning to get trickles of people at other forwarders other over the road businesses. And it seems to be hitting individuals that are either very high on the pay scale, or people who are subcontracted into this pay scale. So they're saying, These are the folks that we probably paid a lot to over time, right, that that are more strategic in their role with us. So we're really the basic spec that I always say back to basics stick on those bookends of what we do. And the second half, it wasn't this was part of the surge hiring that we did during COVID. It was part of that things are nuts right now. We can afford to bring you on then. Because it was part of our growth that we were going through during what was just really madness during the pandemic. And we see that as ending now. What really struck with me, Doug, and you mentioned this is, this is the craziest time of year for FedEx. But this is it's the holidays, man, like when FedEx says, because if turn on any radio station right now FedEx and UPS are saying, we're hiring for package, you know, helpers. And but that's not what this is about. Right? This is not about that part of the business. And you made that clear. So I think that people need to understand that there's a piece of FedEx has business that's doing just fine, merrily, on its way, trucking down the highway. But there are parts of it, they realize they probably flexed during COVID when the money was there, and they could get some money, you know, get while the getting was good. And they're gonna like you said, refocus on what made them who they are, and doubled down on it now that things are getting back to normal. So it's just it's just a reassurance of what you've been saying for probably the past year and a half.
Doug Draper 14:21
Yeah, yeah, for sure. Interesting times. All right. This is one of our favorite. It's my personal favorite, because we get to have our own personal commentary during halftime, brought to you by CAP logistics. So, Pete, I saw your story. I love it. I love it. Fire away my friend.
Pete Mento 14:41
This is one of those things that I came across on Twitter. For those of you who do not do the twit Twitter thing, I'm not as active on Twitter. I'm not a blue checkmark guy. I don't intend on buying the blue checkmark but trade geek by the way, if you're looking for me on on the on the Twitter On the Twitterverse I came across the story of a guy who ate a rotisserie chicken every day for 40 days. So you know, like, my Twitter feed is pretty sad everybody like it's it's, you know, it's it's economists stuff. It's like everything Pierre Churchwell ever says I like, you know, it's like all Joc stuff. It's it's nerdy stuff, but I can't I came across a story. And this guy basically said he was going to do it for 20 days. And there was some tangential thing about Philadelphia sports, which I never really put one on one together, pal. And then once he got the 20 days, I guess a couple 100 People were sort of egging them on to get the 30. And then once he got the 30, he was like, What do you say we just go for 40 Everybody. And on the 40th day, he rolled out a red carpet behind a dumpster on a pier behind a Walmart in Philadelphia, and I don't mean to cash cast, you know, unnecessary dispersions on Philadelphia, but it's a city that I despise. So maybe I do. But that just seems like the right place for Philly, you know, behind a dumpster behind a Walmart on a pier. And he ate his 43 rotisserie chicken. And much was said about this. There were a new squeeze. There was much ballyhoo on Twitter and Doug. Here's what I have to say about it. Who cares? Okay, this is not this is not that much of a feat. I have a friend named Sean he's a wion. He could eat five of these chickens every day for 40 days and say can I have a pound of bacon for dessert? Five rotisserie chickens would impress me one rotisserie chicken. One rotisserie chicken is not impressive. And for 40 days who like I care? Anybody who's been I've been on a low carb diet for two years people. Do you know what I would do? I would love a rotisserie chicken every day and that's another thing. I didn't see exactly how much of said rotisserie chicken he ate was he like getting down to the bones on this thing? Was he even like Robinson Caruso? Like what are we talking about? Was it like the old 96 Or was eaten the gristle and all like how much into this thing? Does he get dug? I'm not impressed, bro. Okay, let's do something really weird like eating tsunami or something like this? It was strange. Like, let's let's do Japanese not toe every day for 40 days, then. Then I think I'll be really impressed. But I'm not impressed.
Doug Draper 17:43
Yeah, yeah, we're growing a 600 pound pumpkin and digging it out and you know, paddling it down the Missouri River 45 miles.
Pete Mento 17:54
But over the falls we have ticket over the falls to
Doug Draper 17:58
Hell yeah, you're right. Not like what's the big deal on this one? I don't I don't understand
Pete Mento 18:02
it, then. I don't understand it. This is
Doug Draper 18:08
Well, I gotta bring some drone talk back and I promise our audience this will be the last rant for 2020 2022 When I saw the Bitcoin Bitcoin I'm like, What's, what's my Batman to your Robin or your Robin to my Batman. With, with with Bitcoin, it's drones. So it was very timely, because I saw something this weekend that Amazon's resurrecting their drones, and they're coming up with a new one called the Mk 30, which is going to be ready in 2024. First of all, who cares? It's smaller, lighter, better to handle heat and cold. And it can handle light rain, heat, not not rain, light rain, I'm not really sure what that means. And it's got a better navigation system. But here's the deal. It's still five lb Max. Anything that fits in a shoebox right is the max space. And the radius is like three to four miles like Mike, who lives three to four miles from a distribution center that's consistently buying something that's less than five pounds, that fits in a shoebox, oh, and then they're going to drop it from 12 feet. So that immediately eliminates stuff that would potential for damage. And this new thing is it avoids animals and fences and here's noise or sees heat below it. So it knows not when to profit. You know? So Pete, how about some good old boys drinking beer. They want to practice skeet shooting when this thing rolls over their property, right? Where some kids with rocks that are sling shot shot in it, or just people that want to steal it right? They're going to take it down out of the air. So you know we've talked about drones that give medicine and deliver stuff into remote areas to help people and emergencies. I get that. But Goodness gracious. Why is this happening? Why is this being resurrected and until I just don't get it you infuriates me five pounds in a shoebox. Five miles are less than five miles from the DC and it's going to drop it from 12 feet. How does that help me in my daily life doesn't at all it has zero. It's just crazy. And then people are going to knock them out of the sky, people are going to try to steal stuff, they're going to repurpose the motors. I mean, it's just stop. I thought Amazon was better than that, you know, it just, it frustrates me. It's my last rant. Until somebody else comes up with something they're gonna throw more money at it. Maybe FTX will invest in it. I don't know. But it's just another example how crazy drones are
Pete Mento 20:38
dug did you try to get a job like as a predator pilot with the Air Force and they turned you down or something?
Doug Draper 20:45
Now maybe it's because I never had a remote control car growing up. Maybe that's it. Maybe I'm just insecure and jealous about being able to operate remote control things.
Pete Mento 20:56
Maybe in my beard wax in my new beard trimmer from Amazon will come from a drone that you're missing the idea of deployment. So I'll say it again. These are going to be deployed like a hive. Okay, like a hive. They're gonna they're gonna come out like a hive of drones and they're gonna drop off these packages. And they're gonna come back and they're gonna get loaded again. From some mothership. It's gonna be a force multiplier. I mean, don't you watch Black Mirror bro. Like, come on. This this is this is about using less people to cover more space more territory. Be a futures man be a futurist.
Doug Draper 21:48
Yeah, we'll set up a duck blind, what you just described is exactly what happens when people go hunting. Watch the birds out and take them down.
Pete Mento 21:59
Oh, you're absolutely right. I can guarantee you that many members of my family would just they would explode with glee pointing their 12 gauge out the back window of their kitchen to blast one of these things. Oh 100
Doug Draper 22:16
I think the term of hey y'all watch this is gonna pop out hey y'all watch this and then they just mow him down.
Pete Mento 22:22
Slingshot to that's a great example like a like an M ad on a slingshot. If you just time that just right off you so glorious, and they have to have your buddy with the camera to get the perfect video of it that you blow them up. Also drone to drone combat. If you can just get a drone and knock it down while you're out there. Does that educate the entertainment? It's just endless with this may be
Doug Draper 22:43
entertainment I'm in for that but effectively delivery solution to solve problems. Nope. That make no forget.
Pete Mento 22:51
Sure. The dog with a drone touched you duck. Show me on the dog? I don't know. I don't know why you hate them so much. Anyway, that's half time. From our friends at CAP logistics. To learn more, check them out at cap logistics.com They don't do drone delivery stock, so we don't have to
Doug Draper 23:11
worry. That's why we've partnered up with them. So alright, man. Fire away. Your topic number
Pete Mento 23:18
two. G 20. going on right now. I wasn't invited Doug. So two massive letdowns this week, I was not invited to g 20. And for the, like, 30th year in a row, I was not selected as People's Sexiest Man Alive Last week. I forget what I do. But it wasn't me. My letter was ignored yet again. Not even in the top 25. So I didn't make the issue. Every year, I said what I think is a tasteless shirtless photo of me along with a reason why I should be included in the list and yet again, nothing. But the invitation to the G 20. seems not even a laugh. I dug not even I'm going to crack a smile on that one. The G 20.
Doug Draper 24:03
Probably delivered. I was delivered by a drone. So I got last shot it down.
Pete Mento 24:09
Got it. Yeah. The G 20. A little more likely. But you know the trip to Bali. And Mr. Biden and Mr. G met one another. This is I believe was the first time they've shaken hands since Mr. Biden has been President. And as I've been fond of saying, there's a lot of hatred right now between the two because of the Trump Biden tariffs. They've been around for so long at this point, we might as well call them the Trump Biden tariffs because Biden could have gotten rid of them anytime he wanted at this point, but has not because of political pressure. And there was some really friendly talk between the two of them. You know, my dad got up there and he talked about how nice Mr. Shippings hair looked and how adorable his suit was and just shipping took a good look at Mr. Biden said love is after shave and then really can. So they are. And he's just a wonderful speaker. But all kidding aside, they did have very nice things to say about one another about how they're interdependent on each other's commerce. And they hope that over the coming year, they could find some way to work with one another, on all of the tension that appears to be happening around the world. And between these two great trading nations, if I know for myself, I read that, and I was like, Wow, thank God looks like everything's gonna be cool. I mean, clearly, everyone's getting along just fine. So I guess everything is just gonna go back to the way it was prior to all these tariffs, going, Gosh, gee, I'll call my clients and let them know, problems off. But I think we all know, in fact, Doug, it's kind of like when you invite, like, you have a party. And you've got these two friends that like everybody we're really close with, but they got a divorce. And it's been like a year. And like, they're, you know, they're not seeing anybody else. But you know, they're still single and, and you got to bring them both over, because like, your kid likes both very much. And, you know, this, this is going a little too deep in the metaphor. So maybe this actually, like happened me, like you bring a bottle over and you're like, you should be waiting, you're waiting for something to happen. That's kind of more the reality of what's happening here. They're putting on a nice face for the cameras. And they're saying pleasant things. But behind the scenes, the people that are at the G 20. In Bali, the people that came with the Chinese delegation, people that came with US delegation, their talkers, and so happy their talk is, is actually it's quite Stern, saying that the Chinese need to do something about buying Russian oil, because it's making the wrong type of forays into global politics. The Chinese are saying that Americans need to do something about trying to get people to be a little softer with China with regards to semiconductor purchases, and sales, etc, etc, etc. So there's a big difference on what's being said by the leaders of these countries, versus what's being said by their economic delegations. So Doug, I guess what I'm trying to say is don't let the happy coming. That's coming from the two leaders of these nations fully. The tension is all still very real under that quite sheen. On top of the conversation.
Doug Draper 27:11
Yeah, agree. 100%. You know, I've here's a quote that I was gonna throw out, Pete, they said both of them said they agreed to further discussions with key officials, which goes along with what you just said. But your last comment there? Is that a setup? So if something goes wrong, there's a scapegoat and somebody to blame is, they'll be all happy on the surface, and they're letting the other appointed leaders to take care of the dirty work. And maybe that's an opportunity to position themselves to throw folks under the bus that may not transpire with successful negotiation.
Pete Mento 27:48
Duck. I mean, that's, that's part of of diplomacy. Right. I think that they're an important part of international relations and diplomacy. is there's always there's always a patsy, you know, and there's always somebody who knows, they're the Patsy, there's always someone who's like, I realized that if all goes, if all goes sideways, I'm the one whose head is on the chopping block. And that's just part of this job. It's part of the steel is me being well aware of the fact that if this goes sideways, I am the designated scapegoat. But if everything was great, I probably won't get any credit. But that's just part of this. So that's part of it. But I think more realistically, Doug, I think that you've got two countries that understand that their battle right now over these tariffs in particular has probably gone on long enough. Elevated this to a point now, where we've got so many other things that are happening, you can get rid of this now, there's still a total mess happening. It's not going to affect all the other things that are going on. It would probably give them both some political points at home, while still giving everybody plenty to argue and complain. And throw knives over.
Doug Draper 28:59
Yeah, yeah. Good point. All right, buddy. All right. So this was a headline I saw the other day, and I was, it caught me by surprise. But anyway, the take was is the young supply chain talent, deserting our sector? Right. And I got a little bit of passion on this one for a couple reasons. One, some of our audience that's here local may know of a group or a conference called Operation stimulus where we bring in students from across the country that are getting degrees in supply chain. They put on a case competition, we mix in some real world breakout sessions and everything else. It was killed for COVID and it's coming back again, and Colorado State University is going to help us resurrect that. So you want to visit operations stimulus.org There's some things coming up for spring of 2023. But my point is there is that senior so keep that sidebar that for a second. So think your supply chain professionals are saying that the retention is a huge issue is that they're turning these, these new logisticians so fast, they're not developing the tribal knowledge to really grasp our industry, and 20% of those don't feel valued. So a couple things on this one, Pete, going back to operations stimulus, there's something called book smarts. And there's something called street smarts. And as much as technology and log Tech has been the theme for the last couple of years, when you get into our industry, and you said this, on last week's show, you get in the trenches, you're still rolling up your sleeves, and you're dealing with irate people on the phone, and you're trying to figure out where freight is, and you're trying to negotiate things. And it is very, doesn't matter what you learned in a book, right? For you to be able to talk and address people in the real world about what's going on. That's a skill that is still relevant in our industry a lot more than people might think you can't just take them to a one 800 Number or website, it's time to solve their problems. People don't want that in this industry. So I think there's a disconnect with the younger generation, and how they can learn to to operate in that environment. Can they do it? Yes. But they need on the job training. And when push comes to shove, in some instances, and they got people breathing down their neck and yelling at them for things they don't control, I can definitely see a younger generation saying this is crazy. I'm out of here. And part of it is that supply chain in the modern era is not operationally focused, as as much of people get degrees, they want to get into the analytics and the planning and the strategy and that stuff is still out there. It's growing. But as an entry level person, that's not really what you're going to be playing around with. So the street smarts versus the book smarts, I think, is a transition that has taken this new generation, a little bit by surprise. And they need to develop some initiative and confidence to deal with really what happens when you walk in and say I'm a junior logistics professional at XYZ company. So I don't think it's deserting. I think it's just the way that we need to pivot and deal with the young workforce, and get them some training. Because a book isn't going to tell you how to operate on the day to day and dealing with clients and supporting your company as you move forward. So don't freak out, nobody's deserting anything, we just need to re approach them as we train them on the job. That's my whole point with this one.
Pete Mento 32:40
So I'll start with this right, famous, famous who lyric, the kids are alright. Kids are alright. I had a bittersweet departure from Wayfair wasn't my choice. And I was upset about leaving, mostly because I loved my team. They were very, very special to me. Then although I did work on my particular team with a couple of industry, veterans, most of my team was made up of relatively young beginning to early career logistics professionals, and they fit a lot of the descriptions that you made MBAs, undergraduates and supply chain, technically out of my league, you know, a data driven very, very good at data. But what know the end of the container that opened from the one that you push the cargo against if I wrote him a diagram, but then I showed him what I could show them, and they were thirsty to learn. And the thing about this generation that I love, that I'm working with now, is when you give them a piece of information, when you teach them something that makes them feel like they have an edge. They never forget it. And they're, they're hungry for something that sets them apart. Because they feel like they're just so vanilla. And they feel like there's nothing that distinguishes them from their peers. So, I loved being surrounded by people who were thirsty to learn more. And this is an industry of so much nuance and so many details and it comes slowly. I think that's a big reason why so many young people get fed up and leave is it's not like we can just inject your brain with all this crap that we've learned over decades, I've been doing this shit for 30 years dog 30 years, I know that you have to write your data. I mean, all the little things that we've learned about from all the stupid airport codes to, who to call when you need help with this to what mistake not to make twice. And you can't, they can't just be that to somebody, you got to trip over stuff, you got to touch the stove. They gotta have somebody telling to you. And it comes slow, because it's a gigantic world, with a bazillion airports. And although it might seem like it's Wash, rinse, repeat. All those different places have different ways of doing it. And all of those customers have their own particular way of being served. So it takes time. And in a world where people are generally used to being told how special they are. And being rewarded very quickly. Time isn't something they want to invest. So when you meet people that are willing to invest time in you. And I get to work with people who are willing to take a little bit of time. It's a it's a wonderful, wonderful thing. And those are the ones that really become something special in this business. Because all the computers and all of the databases and all of those things in the world now they're never going to replace that. You can and I don't care what kind of AI and machine learning you come up with. It's just I'll be will be way dead before never replaces that. So you know that I love I love that program. And I think it's up to us, because somebody gave you an AI shot. And it's up to us to give these kids a shot so that when they're old, doing their webcasts, they give somebody a shot. And we can keep this brotherhood sisterhood going because it's it starts and ends with us.
Doug Draper 37:01
Now, you ended it a lot better than I then I started it. So that's perfect.
Pete Mento 37:07
Because you know, I could go I could go pretty hard in the paint on this. You know, I could, I could, but I didn't, I chose to be pretty positive about it. Because I for all the things that have happened in this industry where I've been disappointed. I remember how disappointing I must have been when I was 25 years old, too. So that's that's it for another edition of global trade this week. And speaking of worthless young people, I want to thank Keenan for all the work behind the scenes keeping the show going. And I want to thank global trade this week's sponsor, the good people at CAP logistics for all they do to keep this thing going, Why thank you, all of our listeners and all of our viewers for coming back week after week for telling your friends. We really do appreciate it. And as always, Doug, I appreciate you for putting up with me and keeping the show on track. And we'll see you all again next week for another great edition of global trade this week. See? Let's see.