Coyote Logistics

Isn't it crazy? It's still to this day, you know, cause I remember I first started truck in the truckload broker side.

I went and saw Jeff Silver and at Coyote in 2010, nine, I was at global transit time.

So I was an LTL broker.

I didn't even know truckload, but when I realized, when I saw how it worked, And I said, you know, when I walked around Coyote the first time, I said, what are all these people doing? Jeff, what do they do? Like there's thousands of people.

I said, are they calling shippers? And he says, no, they're calling carriers.

And I said, why are they calling carriers? He goes, yeah, we call them to find out where they're at.

And it would, to your point, be really good.

It definitely would be really good for basically all the brokers who aren't the top dogs.

It is a huge strategic advantage, and we love being public.

We love reporting the success that we've had over the last four years after spitting out from XPO and the transformative acquisition that we had with Coyote as we're now the third largest provider of broker transportation in North America.

And that is a, Craig, you are spot on.

It is an enormous strategic advantage having access to such a huge carrier base having access to a strong balance sheet with significant liquidity, with the ability to go ahead and leverage our technology.

It's the extent to which you're going to prevent that capacity that you purged from coming back.

Maybe not the exact same folks or the exact same mechanisms, but the fact that this industry since 1980 has had this whipsaw cycle because exits because the rates aren't sustainable.

The rates become much higher, they become extremely attractive, they pull capacity that otherwise wouldn't think about coming into the market, into the market, and then it tries rates down, right? That is the Coyote curve, the Pickett line, whatever you want to call it.

And so when you look at it that way, I don't see any way...