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U.S. History 1877-Present 3: John D. Rockefeller 13980 Views
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Description:
John D. Rockefeller. Greasy robber baron, or philanthropic saint? Why not both? Boy, that's a weird combination...
Transcript
- 00:03
John d rockefeller you know he was important because spell [Person types John D. Rockefeller into computer]
- 00:07
check doesn't put a red squiggly under his name try of course he had a few
- 00:11
other achievements to brag about you know how politicians are always talking
- 00:15
about how they came from nothing to get to where they are how they were super [Politicians talking on stage]
- 00:18
poor and worked hard to make their dreams a reality well with Rockefeller
Full Transcript
- 00:23
that was actually true he started out as a teenager in the produce business [Rockefeller standing in produce section]
- 00:26
working as a junior bookkeeper making fifty cents a day but what Rockefeller
- 00:31
soon learned is that all a fella needs to get ahead in the land of opportunity [Land of opportunity book opens]
- 00:34
is courage ingenuity and let's say a moral flexibility at times it all
- 00:40
started in 1863 when Rockefeller got some partners and built an oil refinery
- 00:45
1863 wasn't something else going on at that time oh yeah the Civil War but [Man thinking about 1863]
- 00:50
while his brother Frank was off serving this country John Dee made heaps cash
- 00:54
selling black gold he bought out his partners in the last year of the war and [John standing by oil pumps]
- 00:57
built the business into the Colossus known as standard oil yep this was the
- 01:02
birth of big oil people and it was a greasy baby to say the least the father [Doctor and nurse trying to handle big oil]
- 01:06
of big oil Rockefeller was the archetypical robber baron this is the
- 01:10
word people used for guys like j-roc who made millions or billions with cutthroat
- 01:15
business practices Rockefellers robber baron resume looked a lot like many of
- 01:19
his robber baron frenemies there was starving and endangering his workers
- 01:23
dominating all stages of production in his industry ruthlessly taking over
- 01:28
small companies creating a monopoly in which he completely controlled the
- 01:32
industry and so was able to set whatever prices he wanted all that sounds like
- 01:36
cheating that's because well it is no doubt j-roc was crafty he turned what [Rockefeller standing outside Arts & Crafts door]
- 01:42
other oil producers considered waste products into new products he demanded
- 01:46
cheaper rates from the railroads that hauled is good and if a railroad didn't [Rockefeller standing by train]
- 01:49
feel like giving one of the richest guys in America a discount Rockefeller just
- 01:54
bought himself a life-size train set to play with here's another sneaky j-rok
- 01:57
tactic 19th century America many state governments wouldn't do business with a
- 02:01
company incorporated in another state for instance Standard Oil is
- 02:06
incorporated in pennsylvania so it couldn't do business in ohio rockefeller
- 02:11
got around this by taking over oil company [Rockefeller meeting government inspector]
- 02:13
in Ohio and continuing to run them under their old names this way the state
- 02:17
government had no idea was dealing with standard oil it was kind of like a
- 02:20
corporate sneak attack these supposedly separate corporations were really just
- 02:24
standard oil in disguise well standard became a trust the parent corporation of
- 02:29
a number of smaller corporations whose assets standard held in trust Trust
- 02:33
Rockefeller to make sure those assets went into his mink-lined pocket well of [Rockefeller wearing woolly jacket]
- 02:38
course plenty of money came out of those pockets too Rockefeller gave millions to
- 02:42
charity in fact he gave almost half of his billions away before he died in 1937 [Rockefeller in bed and woman stood by bed]
- 02:47
he funded churches libraries hospitals museums and a whole lot more he used to
- 02:51
say God gave me money and like a God Himself rockefeller-controlled people [Rockefeller controlling puppets]
- 02:56
lives in America's businesses doling out both destruction and amazing gifts rocky
- 03:01
giveth and rocky taketh away
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