FedEx founder & chairman Fred Smith on transforming global logistics

Fred Smith founded the original Federal Express network in 1973 with the goal of transforming logistics and transportation in the US. Today, FedEx is the world’s largest express transportation company, serving more than 220 countries and territories worldwide. Goldman Sachs Chairman & CEO David Solomon joins Mr. Smith to discuss how his time in the Marines inspired the launch of FedEx, the impact of geopolitics on global supply chains, and the necessity of innovation in the AI age. This Goldman Sachs Talks was filmed on October 17, 2024 at 2024’s Builders and Innovators Summit. Date of recording: October 17, 2024 Chapters 0:00 - 0:39 Introduction 0:40 - 6:31 Background and origin 6:32 - 9:51 Scaling FedEx 9:52 - 13:38 Talent culture 13:39 - 19:46 Adopting new technology 19:47 - 22:00 Considerations for entrepreneurs 22:01 - 22:20 Conclusion The opinions and views expressed in this program may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. This program should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs. Each name of a third-party organization mentioned in this program is the property of the company to which it relates, is used here strictly for informational and identification purposes only, and is not used to imply any ownership or license rights between any such company and Goldman Sachs. The content of this program does not constitute a recommendation from any Goldman Sachs entity to the recipient, and is provided for informational purposes only. Goldman Sachs is not providing any financial, economic, legal, investment, accounting, or tax advice through this program or to its recipient. Certain information contained in this program constitutes “forward-looking statements”, and there is no guarantee that these results will be achieved. Goldman Sachs has no obligation to provide updates or changes to the information in this program. Past performance does not guarantee future results, which may vary. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this program and any liability therefore; including in respect of direct, indirect, or consequential loss or damage is expressly disclaimed