SilverSun Files DEFA14A, Highlights Brad Jacobs' New Venture QXO

TL;DR

**SilverSun's DEFA14A hints at a connection to Brad Jacobs' new billion-dollar building products distribution play, QXO.**

AI Summary

SilverSun Technologies, Inc. filed a DEFA14A on January 5, 2024, indicating it is soliciting material related to a proxy statement. This filing includes a transcript of an interview with Brad Jacobs, a serial entrepreneur known for founding multi-billion dollar companies like United Waste, United Rentals, and XPO Logistics. Jacobs is now planning to launch a new company, QXO, aiming to become a billion-dollar player in building products distribution. This matters to investors because it signals potential strategic moves or significant corporate events for SilverSun, possibly related to Jacobs' new venture or a broader industry shift, which could impact the stock's future valuation.

Why It Matters

This filing suggests SilverSun Technologies may be involved in or impacted by Brad Jacobs' new multi-billion dollar venture, QXO, in building products distribution, potentially signaling future corporate actions or strategic shifts for SilverSun.

Risk Assessment

Risk Level: medium — The filing is a soliciting material, which often precedes significant corporate actions, but the exact nature of SilverSun's involvement with Brad Jacobs or QXO is not explicitly detailed, creating uncertainty.

Analyst Insight

Investors should monitor SilverSun Technologies for further announcements regarding its relationship with Brad Jacobs or QXO, as this filing could be a precursor to a significant strategic move or corporate event. Researching Brad Jacobs' past ventures and the building products distribution market could provide additional context.

Key Numbers

• $1,000,000,000 — target valuation for QXO (QXO wants to be a billion-dollar player in building products distribution)

Key Players & Entities

• SilverSun Technologies, Inc. (company) — the registrant filing the DEFA14A
• Brad Jacobs (person) — serial entrepreneur and founder of QXO
• QXO (company) — Brad Jacobs' new company aiming for billion-dollar status in building products distribution
• United Waste (company) — a multi-billion dollar company founded by Brad Jacobs
• United Rentals (company) — a multi-billion dollar company founded by Brad Jacobs
• XPO Logistics (company) — a multi-billion dollar company founded by Brad Jacobs
• GXO (company) — a spin-out from XPO Logistics
• RXO (company) — a spin-out from XPO Logistics
• December 28, 2023 (date) — date the Odd Lots podcast interview with Brad Jacobs was made available

Forward-Looking Statements

• SilverSun Technologies, Inc. will announce a strategic partnership or acquisition related to QXO or the building products distribution sector. (SilverSun Technologies, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $800 billion — ;s really big, first of all. It’s $800 billion between North America and Europe so it&
• $600 billion — oad rental companies in anticipation of $600 billion of infrastructure funding, but that did
• $2 — and there’s got to be spent about $2 trillion in order to fix it up. Whether
• $4 — ls chart is absolutely insane. It was a $4 stock in 2009. It looks like it’s

Filing Documents

• ea191252-defa14a_silversun.htm (DEFA14A) — 122KB
• 0001213900-24-001610.txt ( ) — 123KB

From the Filing

MATERIAL PURSUANT TO 240.14A-12 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to §240.14a-12 SILVERSUN TECHNOLOGIES, INC. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. The following is a transcript of an interview of Brad Jacobs conducted on the Odd Lots podcast made available on December 28, 2023. This transcript was prepared by a third party and has not been independently verified and may contain errors. Brad Jacobs has founded multiple multi-billion dollar companies in his career. He turned United Waste into part of a major trash collection conglomerate. United Rentals has been a massive winner in equipment rental for the construction industry. And XPO Logistics (which has spun out GXO and RXO) is a freight behemoth. Now, he’s planning on doing it again. His new company, QXO, wants to be a billion-dollar player in the area of building products distribution. On this episode, we speak to Jacobs — who is the author of the new book, How To Make A Few Billion Dollars — about why he chose to go into this industry, his philosophy of building businesses, and how he plans to win in this space. This transcript has been lightly edited for clarity. Key insights from the pod: What does the building supply industry look like today? — 4:41 What is the opportunity in building supplies? — 5:43 What part of the supply chain is QXO targeting? — 8:52 What types of assets will QXO be purchasing? — 13:45 What is the role of government infrastructure money? — 15:55 How QXO will leverage its scale — 25:52 Why Brad Jacobs is a fan of thought experiments — 28:05 How Brad picks his next industry to attack — 33:05 Why cheap assets exist in the energy space — 36:25 Joe Weisenthal (00:10): Hello and welcome to another episode of the Odd Lots podcast. I’m Joe Weisenthal. Tracy Alloway (00:16): And I’m Tracy Alloway. Joe (00:17): Tracy, obviously over the last few years we’ve done tons of episodes about freight, logistics, trucking, warehousing, etc. One of the things that has always struck me is just all of this crucial stuff, how sort of chaotic and held together with tape and glue these industries often seem to me. Tracy (00:40): Can I tell you something? My husband and I are rebuilding the shed in Connecticut and just getting the lumber for the shed is this massive production that involves us renting a truck and having to negotiate it from some lumber yard and then bring it back and forth piece by piece. The industry of all the movements of these physical goods and products seems so difficult at times, and it also seems sort of ripe for opportunity. But then you also hear stuff like Convoy going out of business, the freight broker that was supposed to be using new technology to revolutionize trucking and things like that. And so, I don’t know, there’s like this tension between moving physical products and then using tech to make the whole space more efficient. Joe (01:25): It’s one of these areas where it seems like ‘Oh yeah, they must be more simple.’ Like I remember one of our first sort of eye-opening episodes with Stinson Dean talking about how lumber is distributed and so much of these communications just on sort of message boards or boards that might resemble Craigslist. And then we talked about it with Craig Fuller and Rachel Premack at FreightWaves and the idea that you look at how trucking brokerage works, these load boards, and this is all this crucial stuff that’s sort of at the center of how the economy works. And it’s like they’re in WhatsApp groups and can anyone pick up a load in Akron and bring it to El Paso next week? And this is how it all works. Tracy (02:05): It seems so informal. And then of course it leads to these inefficiencies like trucks running around empty, basically, what’s it called? Deadheading. I guess the question is what is the sticking point here? Is there something fundamental about moving physical goods that is, I guess, resistant to new technology? Or is there maybe something about the industry where people are making, well, they were, people are making lots of money from lack of transpar

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View this DEFA14A filing on SEC EDGAR