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Flexport slashes 20% of global workforce over weak 2023 volume forecast

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Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#31

Post by willcipriano »

ctvo wrote: post #27
willcipriano wrote: post #25

Remember when everyone cut jobs and canceled orders at the beginning of the pandemic and it really bit them? I'm like 49% sure that's going to happen again. Something funny is in the air.

> Remember when everyone cut jobs and canceled orders at the beginning of the pandemic and it really bit them? No. Did they have layoffs previously? I also don't remember anyone cancelling orders and cutting jobs at the beginning of the pandemic.

March 2020[0] businesses laid off millions and six months later were begging for workers.

[0]https://www.bls.gov/opub/ted/2021/temporary-layoffs-remain-h...

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#32

Post by ghaff »

trimbo wrote: post #26
akavi wrote: post #19

Earlier quoted context omitted.

G => SI prefix for 10^9

"2 Gs", in the US at least, means "two thousand" (G as in Grand)

I wouldn't immediately parse that abbreviation in the US--but if I did I'd parse it as G being shorthand for grand. More commonly 2Gs would be used for 2x the normal force of gravity--i.e. you weigh twice as much.

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#33

Post by spamizbad »

willcipriano wrote: post #25

Remember when everyone cut jobs and canceled orders at the beginning of the pandemic and it really bit them? I'm like 49% sure that's going to happen again. Something funny is in the air.

I wonder if this is what drove a lot of pandemic hiring. A bunch of companies froze their hiring in March-April (some did layoffs), realized they made a mistake, and in the Summer went on a hiring spree.

A bull-whip effect, but for employment.

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#34

Post by ctvo »

willcipriano wrote: post #31
ctvo wrote: post #27

Earlier quoted context omitted.

> Remember when everyone cut jobs and canceled orders at the beginning of the pandemic and it really bit them? No. Did they have layoffs previously? I also don't remember anyone cancelling orders and cutting jobs at the beginning of the pandemic.

March 2020[0] businesses laid off millions and six months later were begging for workers. [0] https://www.bls.gov/opub/ted/2021/temporary-layoffs-remain-h...

Sorry, I misread your original comment as it really bit Flexport previously.

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#35

Post by [deleted] »

ctvo wrote: post #27
willcipriano wrote: post #25

Remember when everyone cut jobs and canceled orders at the beginning of the pandemic and it really bit them? I'm like 49% sure that's going to happen again. Something funny is in the air.

> Remember when everyone cut jobs and canceled orders at the beginning of the pandemic and it really bit them? No. Did they have layoffs previously? I also don't remember anyone cancelling orders and cutting jobs at the beginning of the pandemic.

[deleted]

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#36

Post by wongarsu »

trimbo wrote: post #26
akavi wrote: post #19

Earlier quoted context omitted.

G => SI prefix for 10^9

"2 Gs", in the US at least, means "two thousand" (G as in Grand)

And in many places M stands for thousand, from Latin "mille" (as well as the Roman numeral). That doesn't keep people from counting in kilo-, mega- and gigadollars. Still less confusing than dealing with short vs long scale numbers in translation.

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#37

Post by ProAm »

nickff wrote: post #24
ProAm wrote: post #13

Earlier quoted context omitted.

This is the guy that got famous during the pandemic for suggesting ports stack containers 3 or 4 levels high vs the standard of 2 [1] [2] Turns out 2 is just fine. [G] https://www.npr.org/2021/11/03/1051773672/a-look-at-whats-ca... [H] https://news.ycombinator.com/item?id=28957379

Where did you get the impression that two is fine? I am somewhat familiar with the issue, and looked at both of your links, but still don't understand. Where I live, they stack containers six high.

> Where did you get the impression that two is fine?

That part was a joke because of Flexport's layoffs due to lack of volume. The stacking is probably a separate topic compared to the success of his business, but was just stating why his name and company are familiar on HN.

I personally believe they should stack them vertically vs horizontal stacking to save space so they are always accessible vs 2-3-4 high. (also a joke)

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#38

Post by fallingknife »

iab wrote: post #18
akavi wrote: post #16

Earlier quoted context omitted.

YC-funded freight forwarding company. Basic thesis is by using tech, you can dramatically lower the labor costs of forwarding, and since freight forwarding has huge returns to scale, the benefits compound. They raised 2 G$ from 2019-2022, and their CEO used that warchest to expand counter-cyclically through the pandemic. TBD if either of the two theses pan out. Freight forwarding itself is the industry of coordinatin…

They raised two gillion??

G$ - > gigadollar. Not exactly standard, but I like it.

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#39

Post by bambax »

akavi wrote: post #16
msoad wrote: post #2

I don't know what Flexport is, all I know is that it was the only jobs ad in Hacker News for a long time

YC-funded freight forwarding company. Basic thesis is by using tech, you can dramatically lower the labor costs of forwarding, and since freight forwarding has huge returns to scale, the benefits compound. They raised 2 G$ from 2019-2022, and their CEO used that warchest to expand counter-cyclically through the pandemic. TBD if either of the two theses pan out. Freight forwarding itself is the industry of coordinatin…

> Basic thesis is by using tech, you can dramatically lower the labor costs of forwarding, and since freight forwarding has huge returns to scale, the benefits compound

Is this remotely true though? Aren't the main costs of forwarding simply fuel?

At some point I was importing goods from China (really small volume though) and I did ask them for a quote, and they were twice the price what the Chinese factory could get me from their own forwarder.

Re: Flexport slashes 20% of global workforce over weak 2023 volume forecast

#40

Post by bkor »

ProAm wrote: post #37
nickff wrote: post #24

Earlier quoted context omitted.

Where did you get the impression that two is fine? I am somewhat familiar with the issue, and looked at both of your links, but still don't understand. Where I live, they stack containers six high.

> Where did you get the impression that two is fine? That part was a joke because of Flexport's layoffs due to lack of volume. The stacking is probably a separate topic compared to the success of his business, but was just stating why his name and company are familiar on HN. I personally believe they should stack them vertically vs horizontal stacking to save space so they are always accessible vs 2-3-4 high. (also a…

I still don't get the bit where you say 2 high is standard. It's not. Though US port infrastructure is special, it's very outdated/inefficient compared to pretty much the rest of the world.
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