Here's your summary from The Founding of FedEx | On This Day (https://www.youtube.com/watch?v=6FCOOLtcNNo) on the Bloomberg Television channel:

**TLDR:** FedEx was founded in 1971 by Fred Smith, initially facing challenges but eventually becoming a global shipping giant.

1. Fred Smith founded Federal Express in 1971 after noticing a need for overnight air delivery services.

2. Despite a slow start, Federal Express (now FedEx) grew rapidly due to faster service than the Postal Service, deregulation of domestic air cargo, and the rise of just-in-time inventory.

3. FedEx continues to evolve under new CEO Raj Subramanian, shifting focus from airfreight to ground transportation services to adapt to changing times.

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