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Men Who Built America-Episode 8
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Added Jan 13, 2021
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America has emerged onto the world stage rebuilt over the past five decades by John Rockefeller Andrew Carnegie and JPMorgan they drained uncontested for years only now the government is cracking down on big business The Big Wedding Bayview Hospital the case will be the biggest challenge of Rockefellers life a fight that will determine the future of the country has Rockefeller is forced to defend the company he built from nothing into one of the most powerful corporations on Earth by now everything buy the whole company the United States vs Standard Oil this hearing is known as please state your name John Rockefeller is the Rockefeller can you tell the court how in just one year in 1872 Ben Cleveland I don't remember it was 36 years ago Wipe Out the competition did you not I mean so ruthlessly that it became known as the Cleveland Massacre I don't remember any Massacre are you aware of pain made by standard oil to a senator I don't remember I stepped down as chief executive in 1902 I can't answer for any incidents that occurred after that date Standard Oil are you not it's an honorary title much like that of President of the United States good night of the seriousness of the charges brought against you has John Ross Valor fights to keep his Monopoly intact a new generation of businessmen is facing a new set of challenges as they struggle to get their companies off the ground I have set out the best motor car for popular use the Ford motor car is durable and light weighing only 1000 lb that has a 4-cylinder engine and is capable of speeds up to 45 miles it is priced at $900 compared to $1,500 for the average licensed car which makes it the first car affordable for the Common Man young entrepreneur Henry Ford has created a new kind of car but in order to sell it he needs to get permission from the association of licensed automobile manufacturers also known as alum who owns the patent on the automobile giving them complete control over who can manufacture and sell cars they are in a sense a giant car Monopoly in Ford's future Now red their hands will be in touch thank you gentleman Ford is hopeful he'll be approved by alum allowing him to start his own business his dream for the future of the car industry when Ford enter the automobile business people didn't drive their own cars they had drivers and so cars were seen as this luxury item boards inside was that cars could be an everyday item they could be very utilitarian so that was it was within the reach of Ordinary People would have spent years developing his car for the Common Man he builds his first model at the age of 33 then calls it the quadricycle but the vehicle is expensive to produce and prone to breaking down Ford II the model A is much more suited to the needs of modern America but he can't begin selling it without permission from alum Allen was successful in blackmailing other automobile companies saying you have to be licensed by us or we will sue you and we own this patent after month deliberation the Alan board reaches its decision Henry Ford's application is rejected the auto cartel has stopped him in his tracks but Henry Ford is determined to show the world that to succeed in America all you need is integrity and engineer the next generation of businessmen is on the rise Henry Ford is battling a powerful cartel right to make a car he believes him the association of licensed automobile manufacturers owns the patent on the automobile and budding car makers like Henry Ford need its permission to sell cars after being rejected by alum Ford is left with few options but he isn't about to give up on his dreams Ford thought that the whole thing was ridiculous that there could not be a patent on the idea of the automobile the automobile was not the property of one single individual Ford is determined to get around Alum Stranglehold on the Auto industry but he's just one man going up against virtual monopoly if he's going to be a success without alum he's going to need to make a name for himself some very simple thing on a make-or-break decision. That's what separates the great leaders and a great successes and if you can't listen to it you don't have it Henry Ford challenges the owner of the biggest car company in the country to erase Alexander Winton is also known as the fastest driver in America prominent member of alum beating with a car of his own design has the potential to give Ford the Boost he needs to start his own company there's just one problem Henry Ford has never raced a car before it's a David and Goliath scene winton's famous world record holder has this fancy race car for the local Boy made good Henry Ford's upset win over the fastest man in America makes him instantly famous Ford sekiro and this is really the first big time I think that he becomes a song renamed the Ford name gets out there and he milks it for everything that it's worth and it was a very crucial part before getting investors for the Ford Motor Company Ford races 28000 or 700,000 today enough money to build his first factory in Highland Park Michigan and before long he's producing 15 cars a day Price tool for almost any American when it finally does breakthrough it is so gratifying because you you're starting to see the reality of what you always believed that the division someday the world would be different is starting to move in that direction Henry Ford's early success puts him on the map but Alan takes notice and hits him with a lawsuit claiming he's reaching their patent on the automobile you see all these shoes conglomeration suing people over patents the big guys are taking advantage of little guys trying to fight whatever angle they could and using their might and those with the best tricksters win well Henry Ford prepares to bring his fight for the little guy to a Detroit the trial to bring down Standard Oil is starting to get ugly mr. Rockefeller business not to my knowledge do you accept that stand at all has enjoyed a profitability and most Industries our profitability is no higher than that of us Steel haven't heard of anyone attempting to break up us Steel well Rockefeller is fighting to save his company JP Morgan has been able to keep his steel Monopoly off the government's hit list he's used his power and influence to broker a number of deals for the nation applying the might of us steel to strengthen the country's infrastructure good Morgan's biggest deal is just getting started in Central America four years attempts have been made to build a canal linking the Atlantic and Pacific Oceans such a canal would cut east to west travel time in half saving ships / 8 1000 miles per trip but no one's had the power to make it happen until now JP Morgan acts as the middleman for the government and raises 40 dollars for 7 billion today to get the project started the Panama Canal is the most ambitious construction project the United States has ever undertaken over 75,000 workers labor in brutal heat fighting off deadly diseases digging a canal 51 miles from the Atlantic to the Pacific do assemble the Manpower in the material and the finances to cut a swath through the middle of Panama and enjoying the Atlantic Ocean with the Pacific Ocean only industrially sophisticated Nation to do that the Panama Canal embodies everything that makes a America the most powerful country on the planet built on steel powered by electricity and running on gasoline and it's all made possible dude Financial might of one of the country's most powerful men but the age of Monopoly is still on trial and the unchallenged power the Titans have used to amass their Empires is not going to last forever Decades of fun the growth of transformed America into an industrial superpower the change has been driven by some of the largest companies the world has ever seen us Steel Standard Oil AM General Electric but it also comes with a cost workers are outraged over dangerous conditions affect across the country and the gap between the rich and the poor is bigger than it's ever been many are convinced that America's largest companies are holding the cup back I hate monopolist iFrogz monopolist all my life I always wanted an even playing field but I had to fight for an even playing field myself over a 40-year career John Rockefeller used Innovation and Ingenuity to create corporate Empire unlike any the world has ever seen he was also notoriously ruthless and many believe he went too far John D Rockefeller is here in what's become the trial of the century the people vs Standard Oil the picture painting Standard Oil is a depressing one in the history of America has been so destructive and its pursuit of profit time and time again we have heard how standard oil has been engaged in predatory pricing used intimidation territory teleport refineries out of business 4/30 standard oil has been on a mission talk and establish yourself as a monopoly to hoist up the price of kerosene mr. Rockefeller before the court renders its decision do you have anything you wish to say when I came into the oil industry there was chaos I brought order I took a second-rate inefficient market and built an industry it was done the way it was because that's the way it has will be done no one complained when I brought light into every home no one complained when I provided thousands of jobs or millions of dollars from exports oil is what this country runs on you call it Monopoly I call it Enterprise no you tell me why am I here as the court adjourned the deliberate Rockefeller can only await his company's fate hundreds of miles away a new kind of businessman Henry Ford also weights a panel of federal judges will decide whether Ford can continue to freely manufacture incel his Model A Car the association of licensed automobile manufacturers is suing Ford for a royalty on every car he sells Lord knows those royalties would drive up the cost of his car putting it Out Of Reach for the average consumer foremost early car makers the lawsuit would be a devastating setback Book for Ford it's something different and opportunity people react to failure in front of two ways either they get scared and you bought or they take that failure that as a Burning Spear at the lake I use that experience to redouble their efforts Ford is convinced the era of unchecked monopolies is over so as his lawsuit and its way through Court he openly defies the order from Alum and continues building and selling his cars he believes there's a better way to conduct a business in America and he's. and to make it a reality Henry Ford was able to position himself as an anti monopolist really it is certain way is a kind of antithesis of the Rockefellers in the carnegies he is sick heroic individual entrepreneur who believed in competition who believed in developing a product and bringing it to the people Ford begins paying his workers a livable wage $5 per day more than double the rate of most us factories before doesn't just paying his workers better he's also getting more out of them Anna Bates a new system producing cars rather than handcrafting each car one at a time his are assembled by a line of workers piece by piece he's called the assembly line and a complete changes manufacturing forever Ford didn't invent mass production but he perfected mass production understood that a complicated product like an automobile could be simplified and could be made less expensive if the same thing was produced again and again and again using the assembly line for workers can build cars up to eight times faster than any other automobile Factory in the world what once took 12 hours to assemble now takes an hour and a half the Innovation allows for standardized the 8-hour workday five days per week look for forward to continue to innovate his lawsuit like John Rockefellers now rests in the hands of a federal court Henry Ford and John D Rockefeller are two American icons from different Generations on opposing sides of a battle for the country's future as the verdicts come in American Business will never be the same America is becoming the most powerful Nation on Earth transformed from a post Civil War Wasteland into a budding superpower buy a group of Visionaries who battled The Impossible to build unimaginable Empires that have brought the country into the twentieth century with all the great entrepreneurs it was a mix of believing in an idea but they also recognized that they had to do some things to take that idea and make it real after Decades of doing whatever it took to crush the competition John D Rockefeller is fighting two into one of the largest and most dominating corporations on the planet big business is a dangerous thing in the eyes of many because of the power and wheels you're not going to say budget Standard Oil The Big E antitrust trial of all-time is about to reach a verdict 444 Witnesses have taken the stand 12000 pages of testimony have been recorded but in the end it all comes down to the testimony of one man you called it or not I called it the answer John Rockefeller has done all he can to keep his Monopoly in Thai what the state of Standard Oil is out of his control in the case of the United States against the Standard Oil Company this hearing has reached a decision this court determines against the Standard Oil Trust on account of his unreasonable business practices which are in viola kitchen of the Sherman Antitrust Act the Standard Oil Trust must be broken up within 6 months John Rockefeller Standard Oil is completely dismantled broken up into 34 smaller the age of Monopoly is over the takedown of Standard Oil of a new generation of businessman most of all Henry Ford await the future of his company after the powerful Auto cartel Alum charged him with reaching their patent on the automobile and tried to shut him down it's a potentially life-changing not just for Ford but for the future of every industry in the country in a surprise decision the court rules in favor of Henry Ford has no legal claim to the design of the car Henry Ford is free to innovate without repercussion Ford's dream is made a reality the car belongs to everyone 46s put him forward in American life is a new kind of businessman but in crucial ways unlined Rockefeller or Carnegie he wasn't trying to gain a monopoly he was trying to bring up product to the people the American population a disability made Henry Ford hope hero Ford Seasons the momentum and his factories go into overdrive his assembly lines start producing a revolutionary new car at a record rate called the Model T and it costs only $825 for the first time a car the common man can afford Ford created what became the most important industry in the American economy he had no idea of the enormous impact it would have on almost every sector of American Life he literally used America the way we live the way we do things and the way we go about our business Ford's reputation won't always be so positive but his revolution in hires an entire generation of Visionaries pool transform the fabric of American Life childhood friends William Harley and Arthur Davidson attach an engine to a bicycle and B selling motorcycles to the masses Milton Hershey applies Henry Ford's assembly line model to the mass production of chocolate Chicago Merchant William Wrigley takes his chewing gum National and in Hollywood Polish immigrant Max Factor begins Distributing Cosmetics for movie stars to drug stores across the country inventing a completely new consumer product makeup this new breed of business man is doing things a different way they're creating products for the mass well paying their employees a livable wage with safe working conditions and a standard 40-hour work week the era of Rockefeller Carnegie and Morgan looks like it may have come to an end but America's three most powerful men are just as relevant as ever before Standard Oil gasoline stations appear across the country fueling Henry Ford's cars cars that are built using Carnegie Steel in factories powered by JP Morgan's electricity the new breed of business man may be doing things differently from their predecessors but their Innovations wouldn't be possible without the groundwork laid buy men like Cornelius Vanderbilt Andrew JP Morgan John D Rockefeller the result is Broad Prosperity shared throughout the country and perhaps America's greatest innovation a thriving and prosperous middle class Industrial Revolution crudite development of middle class well said we never would have imagined possible before John Rockefeller may have lost his court case but the smaller companies created from Standard Oil will go on to become corporate Giants with names like Exxon Mobil and Chevron John Rockefeller is a shareholder each new company it's ironic isn't it I mean it's a great moment American history and it established the principle that monopolistic practices should not be for the future that sounds really good except now they were all separate and my great-grandfather had large amounts of stock and every one of me made more money than ever made in his life Rockford was absolutely Blissful from his point of even in defeat John Rockefeller becomes the richest man in the history of the world with a net worth of almost six hundred and sixty billion dollars in today's money with the Stranglehold of the monopolies over Americans now realize that anything is possible as long as they work together the nation is more powerful than ever and that power will soon be needed on a Brisk spring morning 2 years after the breakup of Standard Oil John Rockefeller joins his old rival Andrew Carnegie to mourn the loss of one of their own less than a month from his 76 birthday JP Morgan dies in his sleep Morgan leave such a mark on American Finance New York Stock Exchange shut down and honor normally reserved for the passing of a president JP Morgan creating modern Celeste and fans you can't have money without a modern effective functioning banking system he was as influential as I can do that day well the old rivals 1 saw each other as Cutthroat competitors now in their Twilight years the fathers of American Business have found a mutual respect The Rock weather in Carnegie Morgan's passing is a reminder time is running short and the realization triggers a new contest no longer is there competition who makes more money now the question is who can give more away Andrew Carnegie was the first the big capitalist of this era bitten by the philanthropy bug decided that he was going to use his wealth to good purpose he said that a man who dies Rich dies disgraced Andrew Carnegie was not a very popular man among his millionaire friends because he demanded that the millionaire has to give away all of his money there's nothing wrong with making a lot of money making money is I enjoy that very much but I enjoy giving away money even more so Carnegie gives away more than 350 million dollars 67 billion today most goes to education and his favorite cause libraries as more than 2,500 Carnegie libraries are built in 49 states and around the world but even in this contest car. you will be bested by his old rival John Rockefeller will outlive Carnegie by 13 years that time and his greater worth allows him to give away more money than Carnegie is ever able to throughout his life Rockefeller has donated Millions to his church and numerous universities at the age of 73 he creates the Rockefeller Foundation with a personal endowment of 100 million dollars the equivalent of 38 billion today that money will go on Advanced Public Health around the world for decades my great-grandfather full bore into philanthropy whether that was a duty and under sir the Baptist scripture or whether just came pouring out of him I'm just not sure but it doesn't make any difference if he did it John Rockefeller will live to be 97 years old and gives away more than 530 million dollars in his lifetime gifts that today would total over 100 billion we are there in space directions to people manage to be able to accumulate some wealth in one to be able to say you know what I want to help others as the nation heads deeper into the 20th century Americans for the first time ever are able to take part in the American dream employed in well-paid and safe jobs manufacturing products they themselves can now afford the country is united with a robust economy the benefits not just the rich but everyone it's the beginning of one of the longest periods of prosperity America will ever see it wasn't by accident that the 20th century became the greatest strides in terms of harnessing these new technologies help reduce any other nation in this world by the time 20th century rolls around and then clearly put us in a position to drive the global agenda it's on the back the Industrial Revolution but I was World War 1 breaks out in Europe the world looks for help it looks to America just 50 years removed from the ashes of the Civil War America has become a global superpower by April of 1917 the country enters the war sending troops supplies and weapons resources that will help bring peace to the world but those resources would have never been possible without the contributions of a small group of visionary men men who sparked a revolution that forever changed America transformed by the vision the incredible hard work and determination and the willingness to take big risks but these men display there is also no question these men could not have done what they did anywhere else but America because this place allows more people to dream than any other place in the world all that matters is how big do you want to dream and how hard you from a broken country into the most powerful Nation on Earth they didn't discover This Modern they built it
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