It's apparently more than layoffs:
Seattle-based freight startup Convoy is closing down business operations
Convoy Shutting Down?
Discussion in 'Ask An Owner Operator' started by Siinman, Oct 18, 2023.
Page 2 of 8
-
Vampire, PPLC, Bud A. and 1 other person Thank this.
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
The thing in the statement that stood out to me was "logical strategic aquierer".
Basically, Convoy never planned to be a fully functional company, they just wanted to make something solid enough to be bought out. That is a major flaw in our current economy- people building things with a plan of selling out rather than creating value for themselves.Magoo1968, Gearjammin' Penguin, Woobie and 12 others Thank this. -
-
You've put this very elequently.
I view it as more of a white collar fraud. Develop a business plan that you know has a poor probalitliy of being profitable, sell it as "new gound breaking technoology" and then find enough suckers to invest in your vision. At that point you keep going thru rounds of funding burning other people's cash until you run out suckers and exit the game scot free. And in the miniscule chance the business does become profitable you look like an absolute genius.Last edited: Oct 20, 2023
Gearjammin' Penguin, TheLoadOut, thatsright and 6 others Thank this. -
Woobie Thanks this.
-
Woobie, JonJon78, Midwest Trucker and 1 other person Thank this.
-
-
I think they thought of themselves more of a tech company and that is what most tech companies do. They plan on growing it to a point then a big player will buy them out. Not always a bad idea but this one was for sure.Opendeckin Thanks this. -
It sure can be a scam the way he explained it but also said you can make big bucks if you understand the game.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 2 of 8