2minutebitcoin on Nostr: Rockefeller originated the cartel model. Through Standard Oil he created a monopoly ...
Rockefeller originated the cartel model.
Through Standard Oil he created a monopoly on the energy network.
He got to be the incipient of the path dependence of the network he’s creating.
They bought the refineries - they refined the oil, stored it, owned all the tanker cars, tanker ships and had an energy network. They even had retail distribution, and even give away furnaces in order to sell the energy -a freemium model!
They monopolized everything to get rid of the volatility in the industry and drive efficiency through standardization.
This was the world’s first serious energy network - so powerful that even 100 years after his death, those companies are still worth $1 Trillion
Through Standard Oil he created a monopoly on the energy network.
He got to be the incipient of the path dependence of the network he’s creating.
They bought the refineries - they refined the oil, stored it, owned all the tanker cars, tanker ships and had an energy network. They even had retail distribution, and even give away furnaces in order to sell the energy -a freemium model!
They monopolized everything to get rid of the volatility in the industry and drive efficiency through standardization.
This was the world’s first serious energy network - so powerful that even 100 years after his death, those companies are still worth $1 Trillion