The first thing that stood out to me was the enterpournouer from sharktank who was in the video commenting about how entrepreneurship used to work. Something that I learned was how Vanderbilt made money off of his ships before the Civil War, and when time came he sold all his ships because the railroads were becoming popular. This man sold everything that he was making money from and invested in the railroads. Vandebilt's investments were smart because they earned made him worth millions at the time he was alive. Vanderbilt was the richest man in the country. Vanderbilt created a blockade aroud New York when people questioned his dominance. When all of the shares for rival railroads become avaliable Vanderbilt buys them. Vanderbilt takes control of rival railroads and creates the larges single rail company in America. I learned how Vanderbilt acquired his railroad. I knew that the railroad company was a monopoly, but I never knew how it became a monopoly.
My first comment was incorrect because Rockefellers "Standard Oil" company was the first monopoly.
I agree with this statement because I did not now how the railroads became a monopoly as well. Vanderbilt would buy more railroads in order for him to be able to make more money. He became very rich.
John D. Rockefeller controlled 90 percent of the oil in the US which surprised me. Rockefeller began as someone who had nothing to his name and created a successful refinery. Something I did not know was how all of these big names that we learned about in US History came together. My first comment was incorrect because Rockefeller's "Standard Oil" company was the first monopoly. By the age of 33 Rockefeller was the most powerful man in the country. Vanderbilt forms an alliance with Scott in order to combat Rockefeller by pulling his deals. This was a declaration of war. Rockefeller, while attempting to get rid of the railroads from the oil business, built a pipe that forever revolutionized the way oil is transported. The pipe causes stock prices to fall. By the time the panic is through, 1/3 of the country's railroad company's have gone bankrupt. At the time, the crash was the worse in American history. Something that shocked me was how bad the crash was and how it caused the stock exchange to close. Something I learned is that Tom Scott built a pipeline of his own for oil. Rockefeller shut down Pittsburg refineries so he wouldn't have to use Scott's Pennsylvania railroad.
I agree with Miranda, and it also was an eye opener realizing that Rockefeller was a man who came from nothing, yet ended up being one of the biggest names in society. When I read Miranda's second sentence I immediately thought of "survival of the fittest" and also Alexander Hamilton's beliefs. His belief that you can come from nothing and still work yourself to the top.
Comment # 3 (Video 2)
Carnegie owes his success to Scott who wanted the bridge to built and trusted him to figure out how to do it. Carnegie invested everything he had in the bridge. Carnegie took a big risk on the bridge. The bridge and its ability to withstand the current is what helped Carnegie get into the steel business. Carnegie has to figure out how to make enough steel to create the bridge. Carnegie finds the technology to make the steel in 15 minutes and then does that. This is something I did not know and I find this interesting. Something else I learned was the near failure that Carnegie faced when he had no more money to invest in the bridge he was building. Something that interested me was the way Carnegie proved to everyone that the steel bridge was something they could trust. The use of the superstition and the elephant was not only interesting but entertaining. When this succeeds Carnegie's steel business takes off and the railroad begins requesting it. Carnegie's story is interesting because his steel is what built the beams of the first skyscraper in the country. Carnegie wants revenge for the death of his of his rival and he feels like in order to do this he would have to become the most powerful man in the world. He turns to someone who is more cutthroat than his rival to help him do this: Henry Frick. Something that surprised me was Frick lowering and weakening the dam. This is something that causes Johnstown to have to evcuate on a memorial day when the rain keeps coming. The message is sent to the town. Since the town had received many warnings like this before they don't listen to it and the dam breaks.
Comment #4 (Video 2)
Something that was surprising and sad is the dam breaking left 2,000 people dead, one in three bodies are so mutilated they can't even be identified, 1,600 homes are destroyed, and more than 4 square miles of the town is completely leveled. The Johnstown flood was the worst manmade disaster in the US before 9/11. Bodies would be found for years to come and traveled as far as Cincinnati. Carnegie felt a sense of responsibility for the deaths, unlike his club members. Carnegie drops out the club and donated billions to rebuild the towns. Carnegie gave money to thousands of libraries. Carnegie wanted to be remembered for the good he did. Something that was interesting and amusing was Carnegie and Rockefeller sent each other gifts for 12 years. The gifts were meant to tease each other. Carnegie wanted to be the most profitable steelmaker to overcome Rockefeller as the richest man alive. Carnegie invests millions to a struggling plant in order to gain more profit. Carnegie had to keep costs low by reducing wages and increasing working hours.
Comment #5 (Video 3)
Morgan sets his sights on Edison so he many put his name to an invention. Morgan lived in the shadow of his father and wanted a way to make his own mark. Morgan was willing to invest in Edison's electric light bulb. Something I learned was Edison installing 400 lightbulbs in Morgan's house and his laboratory in Morgan's shed. Morgan believes electricity is the opportunity that he has been waiting for. Morgan knows investing in Edison is everything his father would not agree with. According to the other videos, this is the most important part of becoming an entrepreneur is putting everything on the line and risking it all for your invention. JP Morgan believes he can bring electricity to the whole country and invests what would equal $83 million dollars today. The Edison electric light company is what comes out of this investment. Something that was surprising was the electric chair. Edison develops the electric chair. The world's first human execution by electricity then took place. Edison played into Rockefeller's hands showing the electricity could be dangerous and deadly. Morgan knows that pulling his funds from Edison would destroy electricity lighting and leave Rockefeller at the top of the light game. Morgan receives news of the Niagra Falls power plant. Morgan knows this is the opportunity for the company that is necessary but he knows that he must continue to fund Edison for the company to be involved in this. The death of Morgan's father was something that helped him make a big investment toward Edison. Morgan was defeated when the Niagra Falls company goes with him rival electricity company. Morgan intimidates the competition by going after Westinghouse and the patents he owned. Something I learned was Westinghouse signed over the patents for the teslas ac electricity. Morgan had to eliminate Thomas Edison by buying stakes until he has complete control of the company. General Electric becomes one of the most powerful companies in the world. Something I found interesting was how Morgan converted to AC electricity which is still used today.
Comment #6 (Video 4)
The gap between the rich and the poor became wider. Something that surprised me was over 90% of Americans survived on less than 100 dollars per month. The average worker made about a dollar a day. One out of every eleven steelworkers would die on the job because of working conditions. Bryan vows to fight for equality for all and vows to fight the elite. The three men on top did everything they could to make sure the election would go their way. The country is divided and McKinely is elected. The country remains in the big business man's control. The alliance between the businessmen breaks when the battle was won. The election of Theodore Roosevelt had consequences that big businesses were not prepared for. Roosevelt launches his campaigns against trusts; the first trust being JP Morgan. Something I learned Roosevelt sues Morgan in court, and it was the first government lawsuit against a big corporation. Roosevelt wins, and Morgan's railroad monopoly is broken up. The government follows suit against standard oil. Something I learned was the gasoline stations around the country in the 20th century were standard oil. Standard oil-fueled Henry Ford's cars, cars that were built using Carnegie steel, in factories powered by JP Morgan electricity. The new innovations wouldn't be possible without the groundwork laid by the big businessmen. Some of the oil companies that are still known today formed from the split of standard oil. Rockefeller is a stockholder in each new company. Something I learned was the stock shut down after Morgan's death. The shut down was surprising because that was reserved only for the passing of a president. The competition is no longer who makes the most money now but who gives the most away. I remember this from last year. The saying became: A man who dies rich dies disgraced. Over 100 Carnegie libraries are built around the world. Rockefeller outlives Carnegie by 13 years and gives away more money. Rockefeller donates millions to his church and many different Universities. Rockefeller created the Rockefeller Foundation gives millions of dollars. The money donated by Rockefeller advanced public health around the world for decades. This is the beginning of the longest periods of prosperity America has ever seen.
I agree with the statement that Miranda said, "A man that dies rich dies disgraced". Many people who die rich don't plan on doing anything with their money, they just die with it. Rockefeller was different because when he died his money was given away. The money he left behind helps many people. As she said for example the Rockefeller foundation is more commonly known.
Cornelius Vanderbilt was one of the most powerful man during the Gilded Age. At 16 this man bought a ferry boat and from the decisions he made after that lead him to be so powerful. Transporting goods and helping build the rail road. is like this man knew that this things he was doing and getting will help him be powerful and also help the country as a whole. By the end of the Civil War he was the richest man in the country. His son death was a big effect on his life especially since he was his favorite. The fact that he actually had a favorite and not so favorite son is not surprising especially because of the time period. Usually men would love their older sons more. Having his not so favorite son help him in his business was not the best thing him, especially because of how low his knowledge on business was. The idea that Vanderbilt had about destroying the railroad that lead to NY was something with a huge effect. Power obviously makes people take some extreme actions.
I agree with Maria that power makes people take some extreme actions. Although Vanderbilt by the end of the Civil War was the richest guy in the country, that was not going to stop him from expanding and becoming more popular. The idea of destroying the railroad that lead to New York was a crazy idea. Having money sometimes makes people selfish and Vanderbilt motives behind wanting to destroy the railroad that lead to New York was to run people out of their business. Yes, in the end power does make people take some extreme actions, especially if they want to stay in power.
Something that stood out to me was how Vanderbilt was very competitive. He wanted to be the best and ahead of everyone. He was very succesful in a matter of 40 years. He built the largest shipping empire in the world. Although, railroad completion had transformed America. This was due to it being cheaper and more efficient transportation wise. When Vanderbilt lost his son in the war, it caused great tragedy. One of the things I learned was that in business your objection should be to win and be better each day.
Adding on to what Destiny said about the fact that he was successful in 40 years. Its interesting that he became successful in 40 years when he only started with a ship is fascinating. Usually people are born into money and the ones the are not take a while to be successful and be successfully known.
Comment # 7 (Response 1)
I agree with Destiny, to add on to what she said Vanderbilt was able to not only make a successful empire in shipping, but knew when it was time to sell everything he has and move on. Vanderbilt sold everything he had, that was making him money to invest in the unkown. After the death of his beloved son he continues to better himself and didn't let anything hold him back from being a better person, and fighting to be better.
One thing that stood out to me was Rockefeller's motivation. He worked hard to find a way to access oil without it being wasteful or harmful. His insights and thoughts were always one step ahead of his competitors.While people were drilling for oil trying to find it underground, Rockefeller was trying to refine it and find out where it is coming from and how does it work. He was a very confident man who at the age of 24 he invested all his money into building his first refinery. He put everything he had at risk because he knew someday he'll succeed. Failure was not a word in Rockefeller's vocabulary.
Adding one to what Dixiory said is fascinating how this man put his whole life at risk just to become successful, because not may people would take the risk. His mindset was so ahead compare to his competition and it why he made it as far as he did. Like Miranda said he did become the first monopoly and that's what made such a "great" man and a wealthy man. He did what he had to do to get where he got.
One thing that stood out to me was the age Carnegie was sent out to work. He was sent out to work at 12 years old. Although in today's society this is a mouth opening, shocking fact because in today's society it is extremely rare. When watching documentaries, you have to see it from the same eyes that the plot is in. In this case, the 1800s. At 12 years old he was sent to work. He never expected to work so young, he wanted to go to school,get an education and have a childhood. The reality of this is that his family would not have survived if they did not send him to work. His family lived in poor conditions and could not afford for Carnegie to go to school. Instead, he was sent to work at the age of 12. Sending him to work so young inspired him to become successful in life. That is exactly what he did and now his name is very well known in history. A man who did not get to go to school became very wealthy and well known.
One thing that stood that stood out to me was Carnegie’s actions/the words that were used to describe him. He believed that there was an advantage of being the first person to do something. He saw it as being ahead of those who will come along later trying to do the same exact thing, yet you will have more knowledge because you did it first. Carnegie demonstrated that if you are the first one to do something you have a huge advantage towards those who are either trying to copy you or so the same. Carnegie even started buying his competitors in order to stay at the top. Although I do not agree with his methods, I do agree that if you are the first one to do something, you have an advantage towards those who are still trying to figure it out.
One thing that stood out to me was that as Edison’s electric light started expanding, Rockefeller business started decreasing. It is crazy to think that one man’s success is another man’s failure. Imagine being the most powerful and rich man on earth that people depended on and then having someone else come in and basically steal your customers. Both these men were known for eliminating competitors, but how do you eliminate someone that is as equally or almost as equally powerful as you? It is not that simple and Rockefeller must have felt threatened. Rockefeller wanted his standard oil to be the best oil in the world and boh these men wanted to have something that would last forever in this world. Rockefeller even launched a campaign against electricity, claiming that the new technology would be dangerous to the world. He warns of electrocution being caused and out of control fires that the light would cause.Rockefeller was trying to eliminate his competition by using the media to break him down. He knew that if he could put fear into the public, his company would stay at the top.Edison even felt into his trap and demonstrated the light to be dangerous.Yet, even today electricity is very important to the daily person’s life. However, Edison was hurting his business and he had to do whatever he could to stop Edison from stealing more of his customers.
Another thing that stood out to me was that Morgan was extremely close to taking out his funds in his Edison companies. His father wanted him to stop funding them because he worked hard to build their name in the public and he was not gonna let Morgan destroy it by funding Edison and his companies. Morgan knew that if he pulled out his money from the companies, they would fall apart and the invention of the light would be destroyed. If the invention of the light would have been destroyed, Rockefeller would remain at the top. Although his father was practically begged him to stop funding Edison’s companies, he had a strong belief that electricity would be the future. This stood out to me because Morgan had his father pressuring him to stop funding the companies and he did not. Now, imagine if he would of stopped funding the companies. His fundings was what was keeping the companies together. Would we even use electricity today? How different would life be if Morgan had stopped funding Edison’s companies?
It's crazy how Cornelius Vanderbilt bought a ferry at 16 with a hundred dollar loan at that. Business was competitive and Vanderbilt still was able to make it big. It only took 40 years for Vanderbilt to create his business of the ferry. The railroad is what he converts to after the 40 years of working in the railroad. After selling ferry's he had made it in railroad work and made an equivalent of $75 billion in today's economic profit. Now his big industry may look shaky because of his sons death. The son who he groomed to take over the business for him had passed away leaving him with no successor.
Vanderbilt used his 30 extra years beyond the normal life span to get back at everyone who saw him as week.He started to take over the railroad system by taking at least 40% of the railroads. He didn't care for the money but for the achievements of doing better than the next. Competition is good for the system of business as everyone says. Vanderbilt is the king of the businesses and shouldn't be messed around with.
Comment #8 ( Response 2)
I disagree with one thing Shakeem said. Vanderbilt wasn't the king of businesses, Vanderbilt was the king of railroads. Vanderbilt wasn't the king oil, or electricity. Vanderbilt was not a force to be reckoned with when it came to railroads, that is the truth. Besides that, this comment is correct.
I also disagree with Shakeem, people didn't view Vanderbilt as someone who shouldn't be messed with. People thought he would just do better than them because he was portrayed as a very competitive man who was willing to do whatever it took to preserve his position which was at the top of business. His Philosophy along with many other people of the time was Social Darwinism. He thought he was the best and should stay on top.
Carnegie was sent to work at the age of 12, which was a great shock to me. Carnegie was working for a local railroad then being hired as a assistant from being liked. Successful people tend to tell about their early failures or the possibility of their failure you can't be truly successful. Carnegie sees the future of his steel and created a new industry of steel and supply the world and make a fortune. A rivalry that kills Carnegie best man leads to his revenge on the man who took his friends life. John D. Rockefeller is the man who he shall get his revenge on.
I agree with Shakeem. I was also intrigued by the fact the Carnegie had been working since such a young age. This may have been a factor to how he had became so succesful. The rivalry between Carnegie and Rockefellar grew strong over the years.
A dam that everyone is afraid of because of how weak in structure it is. The dam is of great risk to the people but the manager of the dam didn't care one bit. Lowering the dam helped to weaken it and later caused a tragedy. A storm came into Jamestown, Pennsylvania and that's where it took its toll on the dam. South Fork the water form the rain would raise the dam an inch every ten minutes leading later to an overflow. The rainstorm later caused an emergency for an evacuation but was declined and not looked at dearly. Massive deaths from the overflow of the dam which caused havoc across the town was the same in which was prior to 9/11 which killed many and damaged multiple properties.
One thing that stood out to me was Theodore Roosevelt’s presidency and how it affected those companies that were extremely powerful in the business. One of the reasons that they were so powerful was because of the “laissez-faire” policy. This policy basically meant that the government would stay out and leave businesses alone. Roosevelt was about to change many of this. Roosevelt himself was from a very wealthy family that was from New York. He could of became a powerful business man like Carnegie but in his life he decided to do other things and follow other paths. He went for a career in politics, instead. He even managed to change the way people viewed him, from this wealthy guy to a common man. Roosevelt was hated by many corporations and big names who had made themselves a monopoly in the industry. Roosevelt sued JP Morgan’s railroad company and broke their trust. Morgan was at first trying to manipulate Roosevelt and soon discovered that he could not be manipulated. Roosevelt saw Morgan as a perfect example of what was wrong with monopolies. Morgan was quick to see Roosevelt as a rivalry rather than the boss. He saw him as competition rather than someone who was trying to make sense of things.
One important fact that I learned in the video was that Abraham Lincoln was assassinated five days after the Civil War ended. Also that he is considered the last death of the Civil War was shocking. I wondered why Booth would have wanted to kill him if the war had already ended. But, the North won the Civil War so, if he was supportive of slavery that might have been his motive.
Cornelius Vanderbilt bought a boat with a loan and eventually it turned into a large shipping empire. He was portrayed as someone who was willing to do whatever it took to stay on top of business. People of this time believed in Social Darwinism and the best would not only survive he would stay on top. Competition during this time was not only expected it was fed into, many people wanted the competition so they could be labeled as the best.
This also stood out to me because as someone who was poor, Vanderbilt may have used that as motivation. He fought a lot and worked his way to the top. He became the richest man in the world and he was able to pass this aggressive mentality on to his son, although his son was less accomplished.
The railroads became the largest companies after the Civil War. Prior to railroads, slavery was the biggest. The railroads were so popular because it allowed people to travel further distances. Vanderbilt and Rockefeller are in competition with railroads and Standard Oil. Rockefeller became rich because of his Standard Oil an the sabotage on the railroads because of the war he created.
What surprised me was the inventor of Chase bank, J P Morgan desired his own success and wanted to make his father proud. He thinks Thomas Edison's light bulb will give him that. He uses the light bulb to light his entire house and it becomes the first house to be lit by electric light bulbs entirely. People are amazed with the way the bulbs were lit without the use of oil. This would be threatening to Rockefeller's standard oil company. He takes a risk and eventually becomes another person added to the feud of Carnegie and Rockefeller. By putting everything on the line h gets very rich.
The Niagara power station industry will have enough power to light the entire north east, and this challenges Edison's light bulb. Morgan believes that if he is the one in charge of power station he will be on top of everyone who is already competing against him. he will become richer tan he already is. What holds him back is his father which is surprising, you would think his father would be supportive of him but he was against everything he did. When his father died it was tragic but it led him to do as he pleased and not let his father's disapproval hold him back. A good thing came out of the tragedy.
What didn't surprised me was that Carnegie was a man who came from nothing, and built his was up to wealth. He wasn't just going to sell his steel company for cheap. The steel company was his entire life and the source of his wealth. So, for Carnegie to want $480 million dollars to be bought out isn't unexpected. He wanted to get what he thought his company was worth. He was finally the richest man, he beat Rockefeller once and for all.
One thing that caught my attentions was that Henry Frick still went back to working with Carnegie three days after he got shot and stab. The fact that he actually survive that and he went back to work like it was nothing. What I find surprising is that this man later help in the destruction of Carnegie’s “empire” because of the conflict they had between each other. Is interesting how one of his closes man turn on him just because he thought he was not getting enough attention for his actions.
Something I learn was that Thomas Edison was the one to create the electric chair. However his main reason for creating this chair was to prove that Nikola Tesla idea on electricity was extremely dangerous. Who would have know that a creating that was just meant to destroy somebody's career was going to be such a huge success and that people would still be using in todays world. That's shocking and interesting at the same time he is the reason why some people are executed by electricity. I wonder if he knew his invention will end up being used so much. His plan of ruining Tesla reputation did not work because the people remember him as the one to kill someone by electricity even though he was not the one to pull the switch. He did end up proving electricity is extremely dangerous, but people still believe in the power of electricity.
I agree with you maria and I also have to say to be the best you have to go beyond your limitations. He might have only created the chair to compete with A.C but he also changed how we could do death row without the gruesome scene. He also did prove that their are negatives and positives to electricity as well.
What stood out to me was that Vanderbilt was able to build the largest shipping empire in the world without the government's help. Vanderbilt ends up selling all his ships and investing everything he has in railroads. The outcome of this decision made him the richest man in America. After his son died his competition saw a weakness in him and tried to take advantage of him but he showed his dominance by shutting down the Albany bridge which was the only bridge into New York City. This made his competitors sell all their shares and they had a massive sell off in Wall Street. He waited until the shares got low and tried to buy as much as he could. After this he creates the largest single rail company in America.
This also stood out to me because he did not use help of the government. Vanderbilt was not a politician. He had competition and many people wanted to see him fail. However, he doesn't allow them to stop him from becoming one of the most successful men.
Video #1(Comment 2)
After owning forty percent of the railroads in America he still wanted to gain more. Chicago was one of the fastest growing cities in America and the railroad connecting it to New York was valuable but Vanderbilt didn't own this railroad. The only way for him to get that railroad was by gaining control of the Erie line. Vanderbilt instructs his agents to buy as much stock as possible of the Erie and demanding control of the company by the end of the week. Vanderbilt lost millions by being outsmarted by Jay Gould and James Fisk. Vanderbilt was seeing a high demand in kerosene so he started building railroads around oil fields. Vanderbilt wanted to take advantage of Rockefeller and his oil so he invited Rockefeller him to a meeting in New York.
Finance was an industry that would command all other industries. which has come to play part in the banking schemes. Then there is a policy where the best way to do business is the Morgan way. The Morgan way was to invest other people's money to make a fortune for yourself. J.P Morgan and Thomas Edison revolutionize the world through the method of electricity. Now the best of the elites want lights in their house but now Rockefeller will face big challenges if his gas lamps fail to sell because of Edison. Now a fight for who will lead the power of lighting in America is on a rise between Gas, DC, AC. The fight to keep up with modern technology is a struggle between three inventors and two of them with rich man backing up their industry.
Video #1(Comment 3)
What stood out to me was that John D. Rockefeller missed the train to New York which saved his life because that train fell off the bridge. He later met with Vanderbilt and was not scared to make high demands and was making a promise he can't provide. Rockefeller will find a way to make more kerosene which will be called standard oil. This product was bringing in many investors and now he would be able to complete his deal with Vanderbilt and much more. Vanderbilt's biggest competitor Tom Scott and his prodigy Andrew Carnegie knows that Rockefeller has more kerosene then is needed and decides to meet with Rockefeller to propose a better deal. Rockefeller started to buyout his competitors and starts to make the first monopoly. By the time he is finished he controls 90% of the North American oil supply.
Video #2(Comment 4)
What stood out to me was that Carnegie was able to manufacture the St. Louis bridge after being hit with some difficult obstacles to overcome. He was trying to innovate by using steel as a material to build big structures because before he was trying to build this bridge with steel they only used steel to make forks, knives, spoons, and jewelry. After he completed building the St. Louis bridge he created his own steel plant. Carnegie notices that his steel shouldn't be used on the railroads instead he should use it to build structures like skyscrapers. This developed America into a modern country and advanced it quickly when it came to structures. Even though Carnegie is one of the richest alive he still wanted to surpass Rockefeller because of what he did to his mentor.
I agree with him innovating steel to create an empire from it. Carnegie was a well respected man who succeeded from many obstacles in his life.
J.P. Morgan knew that electricity is what he needed for him to have his Empire. It's such a coincidence that his father die right when he needed money for the Niagara Falls. The Niagara Falls seem to be the goal of many at this time. I never knew that it was such an important part of history and the evolvement of America. People fear this would lead to economic depressions. This competition for the fight of electricity was intense, somehow George Westinghouse end up with the control over the Niagara Falls. Morgan really expected to get control over the Falls, and when that did not happen it was like all the money he had used for electricity has gone to waste and he had to work harder to get to the same level as John D. Rockefeller.
Video #1 (Comment #1)
What stood out to me was how Cornelius Vanderbilt had a poor upbringing. He was able to gain power without becoming a politician. He was the head of the railroad industry and was a large reason for the increase of stability in the economy of the United States. Vanderbilt built the largest shipping empire in the world. Railroads allowed cheap and efficient trade and transportation.
I agree with Brian because he was able to gain power by taking a bunch of risk and being so smart when it came to his business. I also agree because he was able to own around forty percent of the railroads and be the richest man after the civil war.
With the presidential election coming up the businesses were in trouble. William Jennings Bryan was gaining power by speaking bad of the businesses, people saw him as a common man and not a rich man so believed in him. He was a treat for Carnegie and Rockefeller, because he was completely against big business. With all the process this man was making I never thought there would be someone against it. The fact that these men actually try to buy their president is interesting, because that is something that could probably still happen in today's world. This man just wanted to stay in power and keep their money, they did not seem to care for the people. They only care that the people used what they created. It just seems to be a fight between the rich and the poor.
I agree with Maria about it being a fight between the rich and the poor. It was just crazy how much power the rich people had back then and how little the rest of the country had. The rich people were able to buy and get anything they wanted. This just shows you how corrupt the government was back then.
Video #1 (Comment #2)
What also stood out to me from video 1 was, John D. Rockefeller grew up poor. He knew nothing would be handed to him. He started his own business selling candy at a young age. He was a great entrepreneur and salesman. Later in his life, he was able to create the first monopolies and crush his opposition. He controlled most of the oil supply in the country. To combat Rockefeller, Vanderbilt made allies with his competition.
Video #2 (Comment #3)
What stood out to me was that Andrew Carnegie began to work at the age of 12 for Tom Scott in a railroad company. He worked because he and his family couldn't afford for him to go to school. He had ambition and took responsibility. Carnegie rises quickly through the rankings in the railroad company and invests everything he has into building the bride over the Mississippi River. He learns that steel instead of iron will allow the bridge to be stable. It's the strongest material, however is expensive and difficult to massively produce.
Video #2 (Comment #4)
I liked Andrew Carnegie's confidence and determination. His belief was that nothing is impossible. He never gave up on his goals whether they were short or long term. He was able to unite America by finishing the bridge. This was a difficult task resulting in him having to pay an extra fee because the bridge was completed after 4 years. Although he had early failures, he never gave up and reached success that outweighed those failures. Railroad companies began to demand steel, leading to the Steel Plant.
They spent a lot of money just so that they could have William McKinley as president. When he got shot to death and got replaced by Theodore Roosevelt they just knew they would not have that much power in the Government. Roosevelt did everything he could to help the poor community. Nobody really knew what would happen once he became President, but he knew exactly what he was going to do. Morgan thought he could control Roosevelt but that did not go well, Roosevelt destroyed Morgan’s monopoly and he ended up destroying them all. Roosevelt really used his power well as soon as he stepped in offered he started doing things to help the poor instead of the rich. These men been working on their monopolies for years and If it was not because of Roosevelt they probably would had kept on going.
Video #3 (Comment #5)
Something that shocked me was that Henry Frick survived being shot and stabbed. Three days after, he returned to Carnegie Steel to work. Henry Frick worked the laborers to their breaking point.
J.P Morgan was born into the banking business. He was able to make industries profitable and eliminated unnecessary competition. He made smart investments and excelled at bringing businesses back to life. The Morgan's invested other people's money to make a fortune for themselves.
Video #3(comment 5)
Something that stood out to me was that Henry Frick was able to survive after almost being assassinated. He was able to go back to office in just three days after almost being assassinated. Henry Frick tries to become number one of the company and starts to break up his relationship with carnegie. Andrew Carnegie fears that J.P. Morgan might try to take away his company because his company is breaking up and he tries t go ahead and fire Henry Frick because of what happened.
Video #4(Comment 6)
What stood out to me was that Carnegie, Morgan, and Rockefeller don't want the democratic candidate to win so they're going to buy there candidate which is Mckinley. They also bought what the newspapers were saying to the public so that Mckinley could win. Bryan didn't give up so easily and started traveling around the U.S to speak about his beliefs and what he was going to do when he became president. He basically set a standard for how presidential elections and rallies are held today. At the end of this Bryan still ended up losing and Mckinley ends up winning which made the rich people happy.
Something I learned was that Andrew Carnegie was a risk taker. He knew he would not be rewarded without taking risks. He invested everything he had into the bridge to make the largest rail bridge. Great entrepreneurs are willing to take risks and bet on anything. Tom Scotts business failed and he was never able to recover from the failure. This affected Carnegie because he lost his mentor who meant more to him than anything.
Carnegie was treated like royalty and honored greatly for his achievements. Although, Rockefellar was a bigger presnece compared to Carnegie because he was worth 3 times more than Carnegie was. The rivalry between the two became stronger over the next decade/ On Christmas they had exchanged gifts. Rockefellar gave Carnegie a cheap paper vest that came at him for beginning as a poor person. Carnegie sent Rockefellar a bottle of whiskey knowing Rockefellar was a baptist who did not drink. I learned that having a competitor in the business world will up the game for everyone.
Morgans father taught him how to avoid taking big risks but he got over the ways his father taught him. He wanted to build his own business from the ground up. He witnessed the way Carnegie and Rockefellar started their empires from nothing and wanted to do the same. Morgan set out for Thomas Edison, a known innovator since the age of 19 that created the telegraph and more. Edison was on the verge to create the light bulb which intrigued Morgan. Morgan knew the new invention would transform the lives of the world and he wanted to use it to begin his legacy.
Morgan felt using electricity might be his way of folowing his own steps rather than his fathers. He considered investing in Edisons company and hired him to install electricity in his home. I learned that you have to be willing to use your own product because if you would not use it then why would any one else? Morgans home became a lab for the Edison inventions. Almost 400 light bulbs were installed in his home. Over a few months, many failures took place but the home was eventually able to be showcased. Morgan invited many people to his home including his father. His home was the first home to be lit up with electricity not gas light. People were intrigued by electricity because they could not see it. Morgans fatherf was against it and put him down for it. He had said Morgan had been played for a fool. The Vanderbilt family was the next on Morgans list to bring electricity to.
William Jennings Bryan wanted to destroy the major businesses. If he became president it would ruin the credibility of the US. Rockefellar, Morgan & Carnegie invested in McKinleys campaign. The publicity you would want was easier to buy back then. The nations leading industrialists were beginning to fear. They said if Bryan won the election they'd have to close shop. This became controversial because if you intended to vote for Bryan this may not be in the best interest for your pockets because you would lose your job and money. Before you were able to see who was voting for who. One side of the ballot was republican while the other was democratic. The oil, steel, and electricity empires were now being threatened by the new election. People all over the world wanted a change because they believed to be witnessing corrupt business practices and hard working conditions. The 1896 election would determine the future of the country. The Titans put everything in for the election to go their way. McKinley won and the control remained in the hands of the Titans with them being free to conduct business in their own ways. Profits increased and the Titans were said to become even more powerful than before. They had more money to invest in other companies. Rockefellar knew Carnegie was the biggest steel producer in the world and he would have the chance to beat his rival in his own game.
It's crazy how the rich used their money in order to motivate the people in order to get the representative they want. Using news media to feed information to the people in order to vote for who they want. Bryan gives over 500 speeches going around the states in order to go against the rich who don't want him to win. They want Bryan to lose because if he wins the rich lose in the long run when it comes to their businesses. Oil, steel, and electricity business men are about to lose their stride if the candidate who wants to run for presidency gets elected. McKinley won and now the business men are back in business to run. It really is crazy how the rich were second rate presidents who could create change through their wealth. Carnegie and Rockefeller both make a compromise to settle the dispute between the two.
Video #4 (Comment #6)
The gap between rich and poor widened. Theodore Roosevelt became the trust buster. The issue was "bigness" and not "badness". Andrew Carnegie and John D. Rockefeller compromised to settle their competition.