Meet your hosts, Paul Foley and Rachael Mahoney, as they introduce “Bulk Exchanges.” Paul and Rachael share their backgrounds, what inspired the show, and their vision for exploring the human stories behind heavy civil construction and technology. Tune in to learn what’s in store as they prepare to bring you the voices and ideas shaping the industry’s future.
Transcript
Paul Foley:
Welcome, everybody. This is Paul Foley, and you’re listening to Bulk Exchanges, where we explore the human stories behind heavy civil construction and technology. Along with my co-host, Rachael Mahoney, we will be introducing guests from all areas of our trillion-dollar industry, from the legends that shaped modern infrastructure to the next generation who will revolutionize it. We will discuss ideas, opportunities, and strategies for what’s next.
Rachael Mahoney: Welcome, everyone, to Bulk Exchanges. I am Rachael Mahoney, your host, along with my colleague and co-host, Paul Foley. We are so excited to be here and welcome all of you to our new podcast, Bulk Exchanges, where we’re going to talk a bit about the intersection of heavy civil construction and technology, and why it’s so important. Both are trillion-dollar industries, and yet there’s a lot known about technology, but not necessarily how it applies to this industry, and there’s very little known about heavy civil construction, which is ultimately one of the most important industries out there. From the moment you walk out the door, you’re touching on something that we impact from this industry. And we can’t wait to introduce you to not only what heavy civil construction means, but all the important folks from all walks of life that help the world literally go round. And with that, I would love to start by letting you get to know myself and my co-host, Paul. And with that, Paul, would you mind just saying hi to the listeners and telling us a little bit about yourself?
Paul Foley: Thank you, Rachael. Yeah, my name is Paul Foley. I’m the CEO and co-founder of Bulk Exchange, but I am the co-host of this podcast here with Rachel, which, as I often say to folks, I’m the least likely tech founder you’ll ever meet, and I’m the least even lesser likely of a podcast host. But this is a super exciting journey that I’m on here with Rachel. Yeah, I guess I’ll tell you a little bit about my background, which kind of lays the groundwork for how we all got here today doing what we’re doing. You’ll detect a bit of a brogue on me, which takes you back right to the west of Ireland, where I grew up. I actually grew up on a small farm in the west of Ireland. My dad was an excavation contractor back 50 years ago. When you grow up on a small farm, you’re inevitably around heavy equipment and big bulk materials, whether it’s shoveling cow manure or moving sand and gravel and rocks. It’s pretty much in my DNA from a very young age. So that was my background. I actually went to college and got a degree in construction economics and building management, which is much like what estimating is over here in this country. I came to the states in the late 90s and I worked with various pipeline and grading contractors in the San Francisco Bay Area and Northern California. And I had very much itchy feet at that particular time in my life. So I moved from there over to Australia, doing the same in Sydney and actually Western Australia for a year or two, working with grading and underground type guys over there as well. And then I came back to the States and set foothold here and actually started my own small excavation company right here in Marin County in the Bay Area. Mostly excavation, pier drilling, demolition, underground type stuff like that. I’m also a partner in a small general contracting and small real estate development company. But The reason I give that background, it’s 30 years over three continents. A lot of the pains and frustrations of that journey is what kind of inspired this tech startup bulk exchange. But along that journey, I’ve had a lot of interesting stories and projects and amazing characters along the way. So a lot of what this podcast will cover is folks from this industry, like Rachel, you had said there, there’s technology, we’ve got construction, we’ve got an industry here that we all admit we’re 20 years behind the rest of the world, but there’s a lot of things coming at us pretty fast in the last few years and the next three, four, five years in particular. So what makes me excited and proud about what we’re working at here is, you know, this podcast, you know, can be a means to inform and bring some education to the industry on some of the topics, Rachel, that you’re such an expert in. That’s what has me most excited. But apart from touching on big, important subjects related to the industry, you know, this is going to be loose and fun and neither Rachel or I have been on a podcast setting like this before. The types of guests that we’re going to be bringing to the show, you know, we’re bringing people who have some deep, deep insights to share regarding some big topics, but we’ll also be getting some guests that will bring some fun fun stories and some crazy characters that they’ve worked with along the way in the industry. So it’s going to be fun and exciting and informative. And yeah, looking forward to it. So, Rachel, maybe some of your background there.
Rachael Mahoney: Yeah, I’ll echo what Paul says. Something that we talk about internally when we work together is there’s a constant theme, which is who was most likely or least likely to end up here. And I certainly have my own card to throw in that pile. grew up on a homestead on the land that my grandfather pioneered his way into homesteading before Alaska was even a state. And so we often discuss which is more rural or unlikely to end up here working together at a technology company in the Bay Area. my upbringing on the homestead or his in leitrim from ireland but but either way we’re both thrilled excited and grateful that we did cross paths and that we’re here today and and while paul as he said represents the experience from the heavy civil construction side. i get to play the role of technologist and i’ve been doing it for a while so not to out my age but all the way back in late nineties i had my first technology startup was actually in early version of door dash which obviously i don’t think anyone could argue is great idea. Perhaps the timing was a little off and somehow even that did not dissuade me. And I am now two decades later, still doing technology startups. It’s a privilege and an honor to be able to do them. And, uh, especially with, with my cohost, Paul, did I ever think that I would be bringing my technology experience into the world of construction and dirt? No, I did not. Although my dad has never been happier for the first time in two decades, he can actually understand what I do and tell his friends. So that’s a perk. And it comes back to something that Paul and I often talk about, is despite being about 4,700 miles apart, if you were to fly from Alaska to Ireland, there were a lot of things in our background that were different. But there’s so much that we have in common and that we’ll have in common with a lot of folks that we’ll bring on to the show over time. And so with that, what I’d like to do is start with saying a couple of things. Paul, just for the folks that are tuning in for the first time, some of them coming from the technology side, they may not be familiar. So when I say something about the supply side of our industry, would you explain what that means?
Paul Foley: Yeah, absolutely. What we’re talking about here is the bulk materials industry. Somebody asked me there recently, what are bulk materials? You alluded to it earlier, Rachael. It’s the moment you step outside your front door, you’re stepping on pavement, it’s concrete, it’s asphalt. Look to the left or right, you’ve got landscaping, you’ve got mulch, you’ve got topsoil. All of that is bulk materials. And when we’re talking about the supply side in this bulk materials industry, it’s the quarries, it’s the supply yards, It’s the recycled facilities, the landfills, the, you know, the dump sites, those who supply bulk materials, the aggregates, the sand, the gravel, the asphalt, the concrete, or those who accept materials like green waste or broken concrete or asphalt grindings or maybe contaminated dirt. That’s primarily what we’re talking about here when we say supplies side. And then if you hear us referring to demand side, well, that’s guys like me, basically the estimator or the contractor, the heavy civil, primarily contractor. They’re the folks that when you’re driving down the freeway, you see them building the road project as big trucks coming in and they’re either taking away material or they’re importing the rock. to be laid down and rolled in with big rollers or dug up with excavators and scrapers and tractors. So that’s the supply and the demand side of this heavy civil industry primarily.
Rachael Mahoney: Thanks, Paul. And on my side, we’re going to talk about all kinds of technology, not necessarily even the stuff that we do at Bulk Exchange, but all the other amazing things that are going on in the industry, from drone footage of quarries for inventory management to some of the automation that are bringing to the heavy equipment that extract and transport the materials. And then there’s a whole other element of what we are passionate about that has to do with the environmental impact and some of the labor shortages that this industry is specifically being impacted by. We want to grow the tent, talk about some of the folks that you might not expect to be in the industry that are so consequential. We also want to talk about how we bring more people in. One statistic that always resonates with me is in the next five years, 70% of all intellectual property in the heavy civil construction industry is set to retire. And, and we know there’s already a shortage. And so for every five people that leave, we’re only able to bring one brilliant young new person into the industry. And so we’re going to be talking a lot about all the efforts that are being done, not only from from bulk exchange in our team, but from our customers and other guests that will be on the show and and how we address this to make sure that that something as consequential as and important as what we’re doing isn’t impacted negatively any more than it than it needs to be. And we’re we’re very excited to play a part in that. And Paul, I think that going back to the story of who you are and your experience that led us here, tell us a little more about how you made the transition from being obviously very successful and happy in the world of construction. What made you do something as brave and unexpected as get into technology?
Paul Foley: Well, it’s been a crazy journey. Sometimes I say it took maybe a knucklehead like me just to finally get frustrated enough to begin to make it happen. Like I said, I give the 30-year journey that I’ve been on and you know, it’s no secret that this industry is very much reliant on word of mouth, who you know, what you know. So, you know, I’ve felt that, you know, rather than having to, you know, resort to the same way as my dad did back in Leitrim 50 years ago to get information related to, you know, facilities in a given area or the types of products or pricing that they may have. And, you know, there’s It can be really challenging at times, just getting getting hold of somebody. You know, an estimator can spend 50 or 60 percent of their time just bird dogging, just chasing after, you know, trying to find some basic information on a particular supply yard or dump site facilities. So, you know, the world’s all just kind of started to collide. I remember back about five years ago, we were on a project down in San Jose and halfway through the project, the brokerage that I had hired to take care of offhauling the material, getting rid of the dirt for me, and taking care of the supply, the import of the rock and the concrete. Halfway through the job, they jacked up their prices, said that the dump site wasn’t available anymore, and the rock was going to cost a lot more. I was back in the same familiar ground again, how come there is no place I can go to, to get more information and insights. And, and that’s how, you know, I got on this journey. And this thing just, you know, snowballed and evolved. And I’m blessed to be living where I’m living, where there’s some leading edge folks in the world of tech, you included Rachael. And, you know, somehow, we got you guys pulled into this journey with this amazing opportunity that can provide so much good. That’s what I’m really excited about. It’s the empowerment that better technology can bring so that whether it’s You know, bringing in more young folks to the industry, like you said earlier, Rachel, that there’s a deterrent to young folks coming in because the technology isn’t where they expect it to be. So, you know, bulk exchange and this podcast will hopefully help bring more people along to better tech.
Rachael Mahoney: Yeah, I always say it’s really hard to get young folks to come work for someone where they’re still using cork boards and fax machines. So, so hopefully we’re doing a small part, but there are a lot of other really exciting things happening so that, that the industry itself is going to look very different in the next five years than it has for the last, you know, 150 years. And we’re, like I said, we’re just really excited to be a part of that. So, one of the things that I’m always intrigued by that Paul and I have bonded over the course of the last year and a half of working together, whether it’s who we look to hire, our favorite people that we get to interact with every day, or those that inspire us, and even listening to other podcasts, we wanted to really narrow in on something that we felt and agreed on that was really compelling to us both, and then come up with our version of that. And so we like the idea of having a reoccurring question or theme that we, we center that we ask our guests, no matter what walk of life they come from. It’s a value that Paul and I share. And so I’m, I’m going to start by, by telling you what it is and telling you what it means to me. And then Paul, I’m going to ask you to, to give your perspective and that is grit. And it’s a word that you hear a lot. It’s very buzzy, whether you’re the biggest, you know, and most successful tech CEO or the most successful contractor or supplier is grit. But it’s one of those words that means very different things to very different folks. But again, it’s a, it’s something that Paul and I share deeply in terms of value within ourselves and, and with each other and, and something that we’re always looking for when we add folks to the team or, or who we, we look to as our inspirations. And so for me, what grit means to me is, is I often refer to myself as a constructive failure. Two decades in startups. I could not even begin to tell you how many times I’ve failed. And what I learned over time and with a little more wisdom, and I think the only way that you could stay in an industry that can really burn folks out for as long as I have is to fail constructively, which means that I’m going to fail. I fail every day, but it’s what can I learn from that failure? And when I look back over the course of time, I realized that most of the things within myself as a human being or in what I bring to my efforts at work come from the lessons that I learned in failure and not success. And the result of that is a deep well of resilience. And so when I think of grit, I think of it as the mechanism that helps propel and grow in me a deeper and better resilience. And again, it’s something that Paul and I very much share in common. And so Paul, would you explain what grit means to you and why it’s so important to us?
Paul Foley: Yeah, absolutely. Like you said earlier that, you know, Alaska and Leitrim are about 5,000 miles apart. But I think when you grow up in either one of those, although I think you got the edge on me because of the tougher climates you got over there, Rachael, and you got bears and stuff as well. We don’t have those in Ireland. But I think there’s a grit and a toughness you get just growing up in a rural setting like that. Not that that’s necessary but for the two of us it’s part of the many reasons why we’ve bonded and connected so well is just even though we’re so far apart there’s a lot of similarities we’ve had some very interesting and super tough family members who you know who create and define who we are as people as well I find You know, grit for me, once again, growing up on that small farm in the West of Ireland, when you grow up in that type of setting, you have to be very pragmatic. You have to make do with what you have. Usually you don’t have the right equipment to do the job or whatever it might be, or if there was trouble with the livestock or the cattle on the farm. you know people had to be tough and and make do and uh i think that’s just installed in you from a very young age for me it’s the perseverance being pragmatic you know apart from the you know where how i grew up it’s just the different life experiences i’ve had along the way with when i was traveling and then the different businesses that i’ve been you know an owner and been a part of Everybody can be there for the parades and the good days and when things are going well, but for grit it’s when you’re… you know getting kicked around and the tough skin that you develop along the way um you know like you’re saying Rachel there you know failure is not falling down failure is staying down and grit is just getting back up every time and that’s what I love about this even though this world that I’ve been in has probably taken years off my life but I wouldn’t have it any other way because you know that’s that’s what I love is just persevering and and leaning into this but uh
Rachael Mahoney: The only disagreement I’d say is probably as someone who’s been here for a while, I think I’m aging in dog years, but I don’t think you or I, we talk about it all time, would do it any, any other way. And, and in that respect, you know, part of doing this podcast is in itself, one of those awesome opportunities for us to fail and hopefully fail a little better each and every time. So we’ll, we’ll start by just thanking everyone for tuning in and bearing with us. Uh, it definitely is a hope that each and every episode we’re going to get a little better at this each and every time, but we do appreciate you bearing with us as we do so. I do think it’s important to kind of let our audience know what they can expect and when. As we’ve talked about early in the episode, we’re going to have a whole cadre of different experiences and guests, and we can’t wait to introduce some really amazing folks to you and also hear who else you might want to hear from. Currently, we are planning on putting out a new episode approximately every two weeks. We will try to keep them low on the verbose scale and hopefully no more than approximately 30 minutes. But of course, that will vary slightly. And as I said before, looking forward to getting a little better each and every time. On the outro, you’ll find where you can follow, subscribe wherever you like to hear your podcasts, and where ultimately you’ll be able to find our guests when they are on the show. And with that, Paul, why don’t we start with saying if folks want to follow up with you or learn more, where would you like them to contact you?
Paul Foley: Yeah, you can get me at paul.bulkexchange.com. You can look me up on LinkedIn, of course. And yeah, I’d just like to echo what Rachael is saying there. This podcast, what’s really going to make it interesting is the folks that will, the types of guests that will be coming on board. We want to keep it loose and fun and interesting. This heavy civil industry has such characters. We’ve got some really cool guests lined up that have some really interesting stories to tell, some funny stories, some amazing characters, some of them larger than life. So I’m excited about bringing that to the fold. And otherwise, I’m excited to see where this goes. I’ve got a little virtual swear jar here beside me because and somebody on a bleeper, because there’s a very good chance I could put my foot on it in every single episode, so I’m just going to put that caveat out there. But this is fun, and having Rachel here at my side, it’s going to be a cool journey, and I’m excited to have everybody on board.
Rachael Mahoney: Yeah, thanks, Paul. And once again, I just want to thank everybody for taking a chance and tuning in and listening to us for a little while, and we hope you do it again. And between now and then, like I said, feel free, please follow us, subscribe, and always welcome the comments. Thanks for listening. Thank you.
Paul Foley: See you on the next one. On behalf of myself and Rachael, we want to thank our guests and listeners for joining us on another episode of Bulk Exchanges, where industry meets infrastructure and shapes great conversations. Please remember to like, share and subscribe wherever you get your podcasts and also find us at BulkExchange.com and on socials at BulkExchange. And remember, until next time, keep building, listening, and learning.
