Find out why the Truckonomics team is so passionate about changing the trucking industry. In this post, our founder Myron explains what motivated him to create the Truckonomics program and dedicate his life to helping drivers get a fair deal.
It's an outside-the-box approach to a complex problem. A Truckonomics plan allows truck drivers to retire with income after 10 years of loyal service to a truck carrier by being a part owner in a fleet of income producing trucks.
I created Truckonomics to enrich truck drivers lives. Because they are the salt of the earth. Because they deserve to be enriched. And because no one else will do it for them. Not politicians. Not any business or special interest group. And certainly not an employer.
My name is Myron Manuirirangi. I live the life of a long-haul truck driver. For $0.54 per mile, I drive a class 8 commercial truck 165,464 miles a year in any weather, day or night, across all 48 states of the continental USA pulling a 53-foot-long, climate-controlled trailer loaded full of freight.
I was first introduced to the harsh reality of trucking after pulling into a terminal in the dead-of-night in Atlanta, Georgia. It was hot, humid, and raining. I came across a middle-aged man, large-in-stature, outside, soaking wet, sitting on the step of his truck, crying. He had just returned his truck after being fired. He had no money, and no way to get back to his home, which was 240 miles away. I was shocked.
I have carried that memory for seven years.
Looking back, nothing has changed. Truck drivers are still being cheated and exploited, and used like expendable tools. They are still grossly underpaid when you compare what they earn to what they do. They still leave their homes and families five-days-in-seven to make money. And they are still locked into living paycheck to paycheck.
Yet few people recognize truck drivers as having one of the two most important roles on the planet. They fail to understand that everything stops when the trucks stop. Imagine the catastrophic effects on every industry if fleets stopped moving.
For example, within 24 hours, hospitals will run out of food and basic supplies such as syringes and catheters. Medical supplies will cease. Radiopharmaceuticals will deteriorate and become unusable. Service stations will begin to run out of fuel. Manufacturing will develop component shortages. US mail and other package deliveries will stop. Within 48 hours, food shortages will begin to develop. Automobile fuel availability and delivery will dwindle, leading to skyrocketing prices and long lines at the gas pumps. Without manufacturing components and trucks for product delivery, assembly lines will shutdown, putting thousands out of work. Within 72 hours, food shortages will escalate. Supplies of essentials-such as bottled water, powdered milk, and canned meat-at major retailers will disappear. ATMs will run out of cash, and banks will be unable to process transactions. Service stations will completely run out of fuel. Garbage will start piling up in urban and suburban areas. Container ships will sit idle in ports and rail transport will be disrupted, eventually coming to a standstill.
They say the US trucking industry is the beating heart of our national economy. I say truck drivers give the heart of the US trucking industry its ability to beat.
And that is because truck drivers are an elite class of individuals who chivalrously serve the citizenry. They make unbelievable sacrifices. They take enormous risks on a daily basis. They overcome every difficulty imaginable. They spend 70 percent or more of their life away from home and apart from family and friends.
The truth is, millions of people, and hundreds of thousands of businesses who all operate exclusively inside the trucking industry, profit from the blood, sweat, and tears of truck drivers. Most of these people know the true value of truck drivers. But no one can afford to admit it. Brokers, shippers, and carriers all ignore it. And the approaching autonomous trucks will cause people to eventually forget about it permanently.
Three years ago, I decided to do something about the imbalance. I wanted to find a way to give truck drivers what they deserved - a passive income, and the luxury to retire comfortably. To find out more about how Truckonomics plans work, read here.
I started by identifying the industry's problems, and challenges. I studied their interconnections, and why they overlapped. I discovered that every unsolvable problem in the industry today can be traced back to the same root cause—deregulation—the unrestricted entry of truck owners to the market which flooded the market with too much low quality competition. Almost every issue arose from that and fed into the driver shortage.
I knew the bulk of the money in trucking was in fleet ownership. I also knew the only chance a truck driver had to achieve fleet ownership, was in cooperation with other like-minded drivers. I created a financial model that made sense, and in turn found a solution to a problem that nobody in the industry has been able or willing to solve.
I came to the conclusion that truck drivers deserve, and can grab, a much larger share of the industry's enormous wealth. But truck drivers have got to stop looking to others for help. They do not need help from anyone. They have everything they need. All they need to do is recognize the power they hold in their hands, and follow a comprehensive plan—Truckonomics—that allows them to unite in a common cause—fleet ownership—to harness what I contend is the greatest power on earth-the collective power of unified truck drivers.
Here's a simple example of how the collective power works:
Company A owns 100 trucks and employs 100 drivers. On the same day, all 100 drivers quit to go and drive for Company B. The effect is profound.
Company A completely collapses. Company B continues to thrive and adds 100 experienced drivers to its workforce, increases its annual net earnings, captures a larger share of the market, and raises its net worth, all at no cost. The 100 drivers prove their individual worth and force both companies to realize the true value of their ability to act as a collective, which also gives them incredible leverage to negotiate a deal with Company B.
The lesson in the above example is that truck drivers already have the power to change anything they deem necessary. With Truckonomics, they can reshape the face of trucking by voting on which companies stay and which companies go. They can force the repeal of any regulation, in particular, the ELD mandate, by applying economic pressure in places that impact the political careers of politicians who vote. They can even apply similar economic pressure against state and local governments to push back on over-the-top enforcement of DOT regulations. Two examples could be demanding hours-of-operation restrictions on weigh stations, or the creation of annual citation waivers that benefit truck drivers.
This is the power truck drivers have at their fingertips today.
If you want to know how you can become part of a collective and benefit from changing the face of the trucking industry forever, click here.