#14 – The Impending Revolution of the Trucking Industry | Mark Okerstrom

Ventured Growth with Hercules Capital

Trucking is one of the largest industries in the United States with roughly $800 billion spent annually on trucking services. Despite the high demand for services, 35% of all miles driven by trucking companies are driven empty due to inefficient coordination systems within the industry.
Mark Okerstrom, President and Chief Operating Officer of Convoy, the nation’s leading digital freight network, believes the solution to empty freight lies at the intersection of logistics and technology. Convoy is working to save money for shippers, increase earnings for carriers and drivers, and eliminate carbon waste for our planet.
In this episode, Catherine and Mark talk about Mark’s transition from his role as CEO of Expedia to Convoy, why there is no one-size-fits-all approach to business, how Convoy plans to remedy problems in trucking and logistics, Convoy Go, and more.
Topics Include:
- What convinced Mark to join Convoy
- The state of today’s trucking industry
- Keeping trucks full by bundling shipments
- Financial and environmental impacts of truckers driving empty
- Thoughts on the current and future markets
- Dara Khosrowshahi and thoughts on mentorship
- Key lessons from Mark’s career
- And other topics…
Mark Okerstrom is the President and COO of Convoy, an American trucking software company. He is the former CEO of Expedia and previously served as an attorney with Freshfields Bruckhaus Deringer and as a consultant with Bain & Company. Mark was selected by Institutional Investor Magazine three years running for its All-American Executive Team, Top 3 Public Company CFO, Internet Sector (2016, 2017, and 2018). He earned his Masters of Business Administration (MBA) degree from Harvard Business School and Juris Doctor (JD) degree from the University of British Columbia.