How a $3M Company Destroyed $17B in Freight Market Value
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How a $3M Company Destroyed $17B in Freight Market Value
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How could a company worth about $3 Million wipe out more than $17 Billion in transportation market value in a single day?
On February 12th, a press release from Algorhythm Holdings, a company that started its life as a karaoke machine manufacturer, announced that its AI-enabled freight platform SemiCab could reduce empty truck miles by more than 70 percent.
By midday, major logistics firms were down as much as 20 percent. C.H. Robinson, Landstar, J.B. Hunt, railroads, and airlines all felt the shockwave.
If SemiCab's technology works as described, it could reduce waste, lower emissions, and save shippers billions. At the same time, it could compress margins, erode pricing power, and expose just how much excess capacity the freight market really has.
In this episode of the Art of Supply podcast, Kelly Barner covers:
- The sequence of events: how a small-cap AI announcement triggered a historic sell-off
- The claims behind SemiCab, and how Algorhythm evolved from karaoke to freight tech
- Why reducing empty or "deadhead" miles (which sounds like unqualified good news) could actually hurt incumbent logistics firms
Links:
- Kelly Barner on LinkedIn
- Art of Supply LinkedIn newsletter
- Art of Supply on AOP
- Subscribe to This Week in Procurement
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