JP Morgan came from a banking family. He studied Edison. He wanted to establish his own fortune. Electric light revolutionized the world. Morgan was fascinated by the light. At the turn of the century America was the fastest developing country on Earth. After his father’s death he takes control of the largest bank in the world. JP Morgan had faith in men and in the country. He bailed the country out.
Promotion is everything. JP Morgan was considering an investment in Edison. He had the Morgan home installed with 400 electric light bulbs. Morgan invited friends and family for the unveiling. Man no longer needed to live in the dark. Morgan had the first lighted house in the world. Morgan’s party was a success. Everyone wanted electricity.
Rockefeller was the man behind kerosene. Entrepeneurs must take a risk. There is no upside without risk. Morgan possesses one of the first toy electric trains. Edison needs to have a network of power stations to light New York City. Morgan invests in the New york City lighting product. Kerosene is the standard. There is no success without risk taking.
Despite Rockefellers efforts, electricity thrives. A by product runoff is gasoline, leftover from oil refining. Gasoline is the best feul for the internal combustion engine. He installs it in his factories and onstalls it in carriages.
Morgan’s father taught him to be conservative. Morgan and Edison built the Power plant in New York. Ditches were dug. Copper wires were laid for all to use. Edisons power grid covered half of Manhattan.
John Rockefeller realized the keresene empire was at risk. Rockefeller was ruthless and attacked electricity. Rockefeller sees himself as a winner. Nicola Tesla emerges as the competitor to Edison. Westinghouse versus General Electric. Railroads, Oil, and Steel have revolutionized America.
Nicola Tesla was Edison’s apprentice. The AC motor design was Tesla’s. Edison was DC current. Tesla worked for Edison. When the idea of AC was given the Edison, he rejected it.
The investor was George Westinghouse. Nicola Tesla’s concept and high voltage was proven to be saft and effective. George Westinghouse started getting orders for power generators. AC versus DC was the battle to power America. AC was about to light America.
JP Morgan was threatened by Tesla. Edison tries to scare the public about AC by killing animals. It didn’t work. Edison created the electric chair the used AC to kill. The Press witnesses the first human execution by electricity. They roasted the guy. Bad Press review of Edison. Morgan was commanded to divest himself of Edison investments.
Electricity is about to go National at Niagra Falls, New York. It was able to light the entire Northeast. It would be the worlds largest power plant. JP Morgan’s father dies in a carriage accident. The Niagra Power Plant is awarded to George Westinghouse.
The best time to buy is when there is blood on the streets. Edison created some of the first movies. Timing is everything in business and in life. JP Morgan tries to bankrupt George Westinghouse.
The 1893, Worlds Fair wants to be lit electrically. Westingtouse wins the bid and shows the fair attendees the viability of AC. After winning the bid at Niagra Falls, Westinghouse moves forward. George Westinghouse signs over the patents to JP Morgan after threat of a lawsuit. Morgan then moves on the take control of the company and names is General Electric. JP Morgan then converts the company to AC.
There is always a reason why you can’t do something. But, if it is something you really want, you make adjustments and move forward.
Morganization changes the approach to building companies. Maximize profits by slashing workforce. The conditions for workers becomes dangerous and pay was very low. The gap between rich and poor continue to grow. The workers hated it.
William Jennings Bryant identifies with the worker. The progressive movement focused on anti-trust. The wealthy and powerful get together to buy a president.
Bruce R. Franklin, # OCPA, USNAAA, NALA, Seeker, PADI, USGA, CSULB, USAF, USN,
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