Tycoons of the 19th century

• Industry: Steel

  • Bessemer Process

• Business Strategy: Be better than everyone

  • Better products for cheaper costs

  • Hired experts

• Business Techniques: Vertical Integration

​Todays Worth: 122.3 Billion

​Company: US Steel

• Industry: Oil

  • Exxonmobil

• Business Strategy: Region by Region Takeover

  • Undersell competition 

  • Raise prices

  • Buy out failing companies

• Business Techniques:

  • Trusts

  • Horizontal Integration

​Todays Worth: 306.4 Billion

​Company: Standard Oil

• Industry: Banking and Investment

  • JP Morgan Chase

• Business Strategy: Reduce Competition

  • Buy competitors out, but keep the business names 

  • Illusion of choice

• Business Techniques: Holding Companies

​Todays Worth: 2.3 Billion

​Company: Drexel, Morgan Co.

​What are 2 other holding companies today? Google them!

• Industry: Railroads

  • controlled who went where, when, and how.

• Business Strategy: Own the Logistics

• Business Techniques: Horizontal Integration

​Todays Worth: 248.2 Billion

​Company: Hudson & NY Central RR

• Low wages

• Dangerous working conditions

• Corruption

  • Price fixing

• Consumers have no power

Robber Baron-Bad

• Innovative

• Efficient

• New Jobs

• Charity

  • Donations

  • Libraries

  • Colleges

  • Parks

Captain of Industry- Good