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Entrepreneurs
Term | Definition |
---|---|
Henry Bessemer | Developed a process to make steel stronger and more affordable. Can make more steel. |
Andrew Carnegie | 1870-Starts to make steel in Pittsburgh, PA. Goal is to make as affordable as possible. Did this by controlling all steps in the steel making process. By 1900, US provided more steel than any country-monopoly. Became one of the riches men in the world. |
John D. Rockefeller | Built his first oil refinery in Cleveland, OH in 1863. By 1890 his Standard Oil Co. controlled 90% of the oil industry- monopoly. Became one of the riches man in the world. |
George Westinghouse | Westinghouse Electric Co.-1896. Developed AC (Alternative Current)for use in homes and business. In ¨War of currents¨ with Thomas Edison´s company used DC (Direct Current). AC had the better product so got more consumers and won. It still exists today. |