The VIPs of Industrialization

Thomas Edison

• He invented the phonograph and perfected the light bulb and electric generator
• He provided people light that wasn't from the sun or a candle so they didn't have to carry around a candle everywhere at night

Andrew Carnegie

• In 1875, he opened a steel mill and used the Bessemer process to make steel quickly and cheaply
• He began the vertical integration of the steel industry
• Vertical integration saved money and enabled many companies to expand

John D. Rockefeller

• His standard oil company began buying out competitions
• By 1880, it controlled 90 percent of the oil refining industry
• He pushed for horizontal integration

J. P. Morgan

• He specialized in helping companies sell large blocks of stock to investment bankers at a discount
• After that, investment bankers became interested in selling stock in holding companies
• Morgan bought out Carnegie and merged large steel companies into an enormous holding company

N. W. Ayer and Son

• the first advertising company
• He began creating large illustrated ads instead of the small lines on newspapers
• These ads made people more aware of things that are availible

Personally, I think that the light bulb affects me the most. I use light all the time, from using it for homework, to getting ready for the day. I can't think of much around me that I use that is made of steel or stock markets. Oil is useful but I don't think I use it as much as light. Every room I enter, I turn on the light first. It's quick and fast and you don't have to own a lighter or matches. A light bulb is fast and efficient.