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Standard Oil consisted of 5% of the US GDP at the time, and controlled the entire refining process. Google is still pretty far away from that. One thing I fin
by rckclmbr 10y ago
Standard Oil consisted of 5% of the US GDP at the time, and controlled the entire refining process. Google is still pretty far away from that.
One thing I find interesting though is that Rockefeller feared Teddy Roosevelt being elected, just like Google fears Bernie Sanders. Bernie and Roosevelt hate big business for the same reasons. Interestingly, the top tech companies think monopoly is good for the same reasons that Rockefeller did -- that they can hyperoptimize the entire process, and the winners are the consumers because of cheaper prices and higher quality.
That assumes the business operates in the consumers best interests, however...
- sharkjacobs 10y agofun trivia: when google was refactored into alphabet they changed their corporate motto from "don't be evil" to "do the right thing"