Industry Titans - Andrew Carnegie and John D Rockefeller
Both Andrew Carnegie and John D Rockefeller are two industry titans who stood up at the height of industrial revolution. The two had humble beginnings and would struggle to begin their ventures. However, they would turn their businesses into monopolies and reshape the two industries.
John D Rockefeller is best known for being an oil investor specifically beginning with oil refinery at the time. He is considered an industry captain since he revolutionized and monopolized oil refinery. His approach would see him divest later but would turn out to be the most profitable venture to date (Pbs, Biography: John D. Rockefeller, Senior | American Experience | Official Site | PBS; Biography). On the other hand, Andrew, began with interest in shareholding in various ventures but would venture in the steel industry manufacturing (Carnegie; Pbs, Biography: Andrew Carnegie | American Experience | Official Site | PBS). He would become the captain of the industry changing narratives on how steel production was done.
The two individuals would turn out to have an almost similar lifestyle. Both appreciated the love for knowledge but would not join school in their quest to make money at an early age. They would both undergo immense challenges in their own lives often being urged to move around a lot in search of the means to survive. Later, in life, both would reshape their industries. For instance, Rockefeller would change oil refinery to increase capacity, while Carnegie would opt for different productions processes that would ultimately make him the monopoly of the industry (Pbs, Biography: John D. Rockefeller, Senior | American Experience | Official Site | PBS; Pbs, Biography: Andrew Carnegie | American Experience | Official Site | PBS).
Despite their major similarities, the two would have major differences. For instance, while Rockefeller was pushed out business by politics for cut throating prices in different areas, Carnegie would prefer to retire and would ultimately sell his investment. As well, Carnegie would prefer to begin a foundation which focused on returning all his wealth to the less privileged which was a different approach to Rockefeller who opted to re-invest in other sectors.
Rockefeller would turn out to be the captain of the industry simply because he was able to convince other companies to be part of his investment. He would ultimately make executives in those companies’ experts in his company. On the other hand, Carnegie would become an industrialist who took attention to improving the steel manufacturing industry and ultimately turned out to be a monopoly for his straight business practice.
Works Cited
Biography. John D. Rockefeller - Quotes, Facts & Robber Baron - Biography. 2020, https://www.biography.com/business-figure/john-d-rockefeller.
Carnegie. Andrew Carnegie’s Story. 2020, https://www.carnegie.org/interactives/foundersstory/#!/.
Pbs. Biography: Andrew Carnegie | American Experience | Official Site | PBS. 2020, https://www.pbs.org/wgbh/americanexperience/features/carnegie-biography/.
---. Biography: John D. Rockefeller, Senior | American Experience | Official Site | PBS. 2020, https://www.pbs.org/wgbh/americanexperience/features/rockefellers-john/.