The Peel with Turner Novak The Great Media Arbitrage: How Craig Fuller Built FreightWaves
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Feb 1, 2024 
Craig Fuller, Founder and CEO of FreightWaves, discusses the importance of logistics and supply chains, the rise of deglobalization, US manufacturing benefits for Colombia, the changing supply chain function, the US labor availability problem, why AI won't fully replace humans in media, the early days of FreightWaves, predicting recessions, logistics as a barometer of the global economy, surviving COVID, how FreightWaves became a media business, the arbitrage opportunity in media, buying print magazines, and building a flying community.
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Trucking Roots
- Craig Fuller's family has a history in trucking, with his father and uncle founding major companies.
- He worked in the family business, was fired twice, and realized he wasn't suited for traditional employment.
Fundraising Challenges
- Fuller initially struggled to raise capital for FreightWaves, facing skepticism from VCs, even those in logistics.
- Some investors saw FreightWaves as a "boring niche" and questioned the value of data and media in the industry.
Near-Failure and COVID-19
- FreightWaves faced near-failure in early 2020 due to funding challenges and the initial impact of COVID-19.
- Ironically, the pandemic's disruption of supply chains increased demand for their data and saved the company.