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Just five days
after the end of the Civil War,
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President Abraham Lincoln
is the final
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00:01:17,703 --> 00:01:19,537
of the six hundred
thousand deaths
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00:01:19,621 --> 00:01:21,873
in America's
bloodiest conflict.
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00:01:24,668 --> 00:01:28,379
The country is divided,
and the world looks
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00:01:28,464 --> 00:01:32,091
at American democracy
as a failed experiment.
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00:01:35,804 --> 00:01:41,434
But what most don't realize
is that a new era has dawned.
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The nation is entering
an age of advancement,
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00:01:48,734 --> 00:01:51,319
and from the void left by
the death of perhaps
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00:01:51,403 --> 00:01:53,905
the greatest statesman
we will ever know,
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00:01:53,989 --> 00:01:57,074
a new breed of
leader will emerge.
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00:01:57,159 --> 00:01:59,911
- DONNY DEUTSCH: The
Rockefellers, the Fords,
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00:01:59,995 --> 00:02:03,539
the Carnegies, were the
first generation
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00:02:03,624 --> 00:02:06,250
of what we know as now the
entrepreneurial rock stars,
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00:02:06,335 --> 00:02:07,960
or what are
today are the Buffets,
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00:02:08,045 --> 00:02:09,504
and the Jobs,
and the Gates.
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00:02:09,588 --> 00:02:12,465
They were the ones that set the
standard for the American dream.
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00:02:12,549 --> 00:02:15,843
They owned a new frontier--
literally and figuratively--
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00:02:15,928 --> 00:02:17,637
of who we are
as a culture.
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00:02:23,685 --> 00:02:26,395
Men of
insight, innovation,
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00:02:26,480 --> 00:02:29,857
and ingenuity, the likes
of which the world
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00:02:29,942 --> 00:02:34,111
has never seen, and over
the next five decades,
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00:02:34,196 --> 00:02:36,614
this small group
will change history,
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00:02:37,950 --> 00:02:42,453
propelling the United States
ofAmerica to greatness.
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00:02:42,538 --> 00:02:44,997
- DONALD TRUMP: These
were great men
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00:02:45,082 --> 00:02:47,458
with a vision that
nobody else had.
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00:02:47,543 --> 00:02:49,210
And that's why in
the last century--
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00:02:49,294 --> 00:02:52,296
that fifty year period--
we built the world.
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00:03:11,316 --> 00:03:13,651
♪ When I got to Memphis ♪
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00:03:14,528 --> 00:03:17,113
♪ To put my
ol' baby down ♪
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00:03:17,197 --> 00:03:20,867
♪ He said, "I can't
take you to Heaven" ♪
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♪ "I can't save
your soul" ♪
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00:03:25,747 --> 00:03:28,332
♪ "I can't
promise forever" ♪
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00:03:28,417 --> 00:03:33,004
♪ Whoa, yeah, got my
heart in your hands ♪
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00:03:34,256 --> 00:03:36,132
♪ I can't feel ♪
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00:03:37,384 --> 00:03:39,051
♪ Feel my soul ♪
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For the first
time in the country's
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00:03:55,569 --> 00:03:57,862
short existence,
the man most capable
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00:03:57,946 --> 00:04:01,365
of leading America
is not a politician.
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00:04:02,951 --> 00:04:06,621
He's a self-made man, who,
through sheer force of will,
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00:04:06,705 --> 00:04:08,539
turned a poor
upbringing on the docks
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00:04:08,624 --> 00:04:11,709
of New York Harbor,
into an empire.
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00:04:20,218 --> 00:04:23,179
At sixteen, Cornelius
Vanderbilt buys
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00:04:23,263 --> 00:04:26,807
a small ferry boat with a
one hundred dollar loan.
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00:04:27,809 --> 00:04:31,938
He quickly earns a reputation
as a cutthroat businessman,
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00:04:32,022 --> 00:04:36,275
willing to use any means
necessary to get ahead.
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00:04:39,363 --> 00:04:43,157
- MARK CUBAN: Back then, it
was just pure competition.
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00:04:43,241 --> 00:04:44,659
My brain
against your brain.
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00:04:44,743 --> 00:04:46,243
My effort against
your effort.
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00:04:46,328 --> 00:04:47,703
You just competed.
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00:04:59,758 --> 00:05:01,133
That's the way they
looked at business.
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00:05:01,218 --> 00:05:02,885
It was the
Wild, Wild West,
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00:05:02,970 --> 00:05:05,846
and by hook or crook,
it was just win or lose,
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00:05:05,931 --> 00:05:07,473
and the best win.
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00:05:13,689 --> 00:05:14,939
- He was a tough guy.
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00:05:15,023 --> 00:05:16,941
Getting into scraps
with other men,
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00:05:17,025 --> 00:05:19,610
beating the hell out of them
and knocking them unconscious.
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00:05:19,695 --> 00:05:22,279
That competitive streak,
and that toughness,
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00:05:22,364 --> 00:05:24,490
very much defined
his character.
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00:05:30,539 --> 00:05:32,581
His single
ferry soon becomes
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00:05:32,666 --> 00:05:36,627
a fleet of ships, transporting
goods and passengers
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00:05:36,712 --> 00:05:39,547
to every corner of the
growing country.
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00:05:41,049 --> 00:05:44,010
Vanderbilt will become so
synonymous with shipping
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00:05:44,094 --> 00:05:47,138
that his nickname
becomes "the Commodore".
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00:05:47,222 --> 00:05:49,223
- I think Vanderbilt
recognized
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00:05:49,307 --> 00:05:52,601
that what was going to be
important is transporting goods
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00:05:52,686 --> 00:05:53,686
from one place to another.
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00:05:53,770 --> 00:05:57,356
And he had this idea that
required infrastructure,
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00:05:57,441 --> 00:05:59,734
and not infrastructure the
government was going to provide,
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00:05:59,818 --> 00:06:01,944
but that he
was going to provide.
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00:06:03,989 --> 00:06:06,198
Over
the next forty years,
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00:06:06,283 --> 00:06:10,369
Vanderbilt builds the largest
shipping empire in the world.
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00:06:11,872 --> 00:06:13,831
Then, at the peak
of his power,
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00:06:13,915 --> 00:06:17,877
just before the Civil War,
he does the unthinkable.
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00:06:27,429 --> 00:06:30,848
Work is under way on the
first Transcontinental Railroad,
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00:06:30,932 --> 00:06:32,808
and the
Commodore realizes
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00:06:32,893 --> 00:06:36,020
that its completion will
transform America,
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00:06:36,104 --> 00:06:39,565
slashing cross-country
travel time by months.
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00:06:40,442 --> 00:06:43,736
- H.W. BRANDS: Railroads were
absolutely liberating,
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00:06:43,820 --> 00:06:46,447
because the railroads
allowed cheap
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00:06:46,531 --> 00:06:48,532
and efficient transportation
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00:06:48,617 --> 00:06:51,077
from one corner ofAmerica
to another.
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00:06:51,161 --> 00:06:53,537
Vanderbilt
sees his future.
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00:06:53,622 --> 00:06:56,874
He sells all of his
ships and invests
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00:06:56,958 --> 00:06:59,752
everything he has in railroads.
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00:07:00,420 --> 00:07:02,630
- JACK WELCH: You talk
about seeing around corners
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00:07:02,714 --> 00:07:04,381
as an
element of success.
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00:07:04,466 --> 00:07:07,551
That's what differentiates
a good leader.
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00:07:07,636 --> 00:07:09,887
Not many people have it.
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00:07:09,971 --> 00:07:14,058
Not many people can
predict that corner.
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00:07:14,684 --> 00:07:18,729
That is a characteristic
of great leaders.
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His decision to
invest heavily in rail pays off.
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00:07:32,828 --> 00:07:34,745
By the end of the war,
Vanderbilt
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00:07:34,830 --> 00:07:37,540
is the richest man in America,
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00:07:37,624 --> 00:07:41,752
with a net worth of over
sixty-eight million dollars,
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00:07:41,837 --> 00:07:45,714
the equivalent of seventy-five
billion today.
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00:07:45,799 --> 00:07:48,717
But all that money can't
buy his escape
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00:07:48,802 --> 00:07:50,594
from the war's devastation.
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00:08:10,365 --> 00:08:12,158
In the wake of the Civil War,
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00:08:12,242 --> 00:08:18,747
a country mourns publicly,
while Vanderbilt does so privately.
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00:08:28,508 --> 00:08:31,177
- FORTUNE TELLER: The
first card is the past,
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00:08:31,261 --> 00:08:36,140
the second, the present,
and the third is the future.
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00:08:42,105 --> 00:08:45,149
There has been an
unexpected loss.
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00:08:47,527 --> 00:08:49,486
Someone close to you.
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00:08:50,322 --> 00:08:52,740
- VANDERBILT: My son. George.
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00:08:57,204 --> 00:08:58,913
He died in the war.
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00:09:01,583 --> 00:09:03,209
What about the future?
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00:09:03,293 --> 00:09:06,045
- FORTUNE TELLER:
The chariot.
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00:09:06,129 --> 00:09:07,713
There will be a war.
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00:09:09,257 --> 00:09:11,091
- VANDERBILT:
The war's over.
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00:09:11,176 --> 00:09:14,553
- No. Your war is
about to begin.
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00:09:19,226 --> 00:09:20,142
- Hey.
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00:09:24,314 --> 00:09:25,564
Watch it, man!
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00:09:34,616 --> 00:09:37,868
Tormented by
the loss of his favorite son,
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00:09:37,953 --> 00:09:41,372
Vanderbilt's empire is more
vulnerable than ever before.
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00:09:45,794 --> 00:09:48,921
- J.S. STILES: For Vanderbilt,
this is a great tragedy.
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00:09:49,005 --> 00:09:52,091
He had one son who
had that same sense
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00:09:52,175 --> 00:09:54,385
of physical strength
and ability,
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00:09:54,469 --> 00:09:56,470
and he had died when he
was still quite young.
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00:09:56,554 --> 00:09:58,931
It was deeply troubling
for the Commodore.
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00:10:00,558 --> 00:10:03,102
For years,
Vanderbilt groomed George
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00:10:03,186 --> 00:10:05,312
to take over the
family business.
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00:10:06,481 --> 00:10:08,899
Now, the Commodore is
forced to rely
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00:10:08,984 --> 00:10:12,278
on his less accomplished
son, William.
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00:10:18,159 --> 00:10:19,994
- I'm making you
operations director
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00:10:20,078 --> 00:10:21,912
of the Hudson Railroad.
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00:10:26,710 --> 00:10:29,920
Vanderbilt
places William in the midst
128
00:10:30,005 --> 00:10:34,133
of negotiations with the owners
of a rival railroad.
129
00:10:35,176 --> 00:10:36,927
- So name your price.
130
00:10:39,639 --> 00:10:42,850
- If you give us your
freight, year round,
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00:10:43,226 --> 00:10:46,186
we will give you the privilege
of allowing your passengers
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00:10:46,271 --> 00:10:50,607
access into Manhattan for
two hundred thousand.
133
00:10:51,693 --> 00:10:55,154
- That privilege is
not worth two hundred thousand.
134
00:10:57,574 --> 00:11:00,409
- Then let us settle
on one hundred thousand?
135
00:11:00,493 --> 00:11:02,619
I believe that to be a
fair and generous offer.
136
00:11:02,704 --> 00:11:05,831
- I'm not really
interested in your generosity.
137
00:11:05,915 --> 00:11:08,417
I'm only interested in
getting the best deal
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00:11:08,501 --> 00:11:10,127
for my shareholders.
139
00:11:10,211 --> 00:11:11,628
And that does not
include handing
140
00:11:11,713 --> 00:11:15,924
over one hundred thousand
dollars, or even one dollar.
141
00:11:16,009 --> 00:11:18,886
- My father wants only
what he believes is right.
142
00:11:18,970 --> 00:11:22,431
- The trouble is, your father
doesn't know what is right.
143
00:11:23,600 --> 00:11:26,143
The old man should be
put out to pasture.
144
00:11:41,242 --> 00:11:44,203
The
message is clear.
145
00:11:44,287 --> 00:11:48,916
The competition no longer sees
Vanderbilt as a man to fear.
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00:11:49,000 --> 00:11:50,959
- DONNY DEUTSCH: People
are always rooting
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00:11:51,044 --> 00:11:53,170
for very successful
people to fail.
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00:11:53,671 --> 00:11:56,256
The day people are not
taking shots at you means
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00:11:56,341 --> 00:11:58,133
you're not on top anymore.
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00:11:59,094 --> 00:12:01,845
But where
they see weakness,
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00:12:01,930 --> 00:12:04,014
the Commodore sees
an opportunity
152
00:12:04,099 --> 00:12:05,766
to assert his dominance,
153
00:12:07,936 --> 00:12:12,314
and teach William what it means
to be a Vanderbilt.
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00:12:17,529 --> 00:12:20,531
- VANDERBILT: If
they want a war,
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00:12:21,950 --> 00:12:23,909
I'll give them a war.
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00:12:36,464 --> 00:12:39,508
Vanderbilt
owns the only rail bridge
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00:12:39,592 --> 00:12:41,301
into New York City.
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00:12:41,636 --> 00:12:45,013
It's the gateway to the
country's largest port,
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00:12:45,098 --> 00:12:47,766
supplying the
entire continent.
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00:12:49,144 --> 00:12:52,062
Vanderbilt knows this is
the hammer he needs to beat
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00:12:52,147 --> 00:12:54,356
his rivals
into submission.
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00:12:57,360 --> 00:12:58,444
- Sit down.
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00:13:03,700 --> 00:13:06,618
I want you to close
the Albany Bridge.
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00:13:20,133 --> 00:13:22,593
Without the bridge,
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00:13:22,677 --> 00:13:26,013
every other railroad is
shut out of New York City.
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00:13:27,765 --> 00:13:29,933
- J.S. STILES: Vanderbilt,
in essence,
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00:13:30,018 --> 00:13:32,352
single-handedly erected
a blockade
168
00:13:32,437 --> 00:13:35,272
around the nation's largest
city, cutting it off
169
00:13:35,356 --> 00:13:37,191
from contact with the
rest of the country.
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00:13:37,275 --> 00:13:40,444
He was now asserting
his dominance.
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00:13:40,528 --> 00:13:42,613
- CONDUCTOR: Ladies
and gentlemen,
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00:13:42,697 --> 00:13:45,282
this train will not
be going any farther!
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00:13:48,912 --> 00:13:51,497
- We're gonna
watch them bleed.
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00:13:57,003 --> 00:14:01,757
The Civil War
has left America in ruins.
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00:14:03,801 --> 00:14:06,011
For the first time
in its history,
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00:14:06,095 --> 00:14:08,263
the nation must rebuild.
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00:14:09,849 --> 00:14:12,643
Over fifty-thousand miles
of railroad track
178
00:14:12,727 --> 00:14:14,853
have transformed the country.
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00:14:17,148 --> 00:14:20,400
"Commodore" Cornelius
Vanderbilt grew up poor,
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00:14:20,860 --> 00:14:23,737
but has created a
railroad empire,
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00:14:23,821 --> 00:14:27,407
making him the richest
man in the country.
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00:14:28,493 --> 00:14:33,288
At 72, he's thirty years past
the average life expectancy,
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00:14:33,373 --> 00:14:36,625
and his competitors
see him as weak.
184
00:14:37,168 --> 00:14:40,337
It's a mistake they'll
come to regret.
185
00:14:41,381 --> 00:14:44,091
Locked in a battle for
control of the rail lines
186
00:14:44,175 --> 00:14:46,051
east of the Mississippi,
187
00:14:47,679 --> 00:14:50,681
the Commodore is
holding nothing back.
188
00:14:50,765 --> 00:14:53,517
- I want you to close
the Albany Bridge.
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00:14:56,646 --> 00:14:58,647
We're gonna
watch them bleed.
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00:15:03,486 --> 00:15:06,697
Vanderbilt
controls the only bridge
191
00:15:06,781 --> 00:15:10,284
into New York City,
America's busiest port.
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00:15:12,203 --> 00:15:16,123
Seizing an opportunity,
he sets up a blockade.
193
00:15:33,725 --> 00:15:36,393
- This train will not
be going any farther!
194
00:15:39,397 --> 00:15:41,898
Shutting the
bridge leaves millions of pounds
195
00:15:41,983 --> 00:15:44,776
of cargo unable to reach
the rest of the country,
196
00:15:47,614 --> 00:15:50,949
and slowly bleeds
his competitors dry.
197
00:16:10,511 --> 00:16:12,596
Before their stock
is worthless,
198
00:16:12,680 --> 00:16:14,806
the presidents of the
rival railroad
199
00:16:14,891 --> 00:16:17,225
try to sell all their shares.
200
00:16:23,232 --> 00:16:25,901
Word quickly
reaches Wall Street,
201
00:16:25,985 --> 00:16:27,861
triggering a
massive sell-off.
202
00:16:46,506 --> 00:16:49,007
- Come on, put some money
in that. Come on.
203
00:16:50,301 --> 00:16:53,887
- New York Central
shares are dropping fast.
204
00:16:54,430 --> 00:16:55,430
- How low?
205
00:16:57,350 --> 00:16:58,725
- $20 a share.
206
00:17:02,980 --> 00:17:05,190
- Buy everything you can.
207
00:17:28,464 --> 00:17:31,883
- T.J. STILES: Vanderbilt was
buying all of that stock
208
00:17:31,968 --> 00:17:34,886
that suddenly flooded the market
at rock-bottom prices.
209
00:17:37,432 --> 00:17:38,557
- Three aces.
210
00:17:38,641 --> 00:17:40,517
- MAN: Ooh, that's good.
211
00:17:42,478 --> 00:17:45,272
In just days,
Vanderbilt takes control
212
00:17:45,356 --> 00:17:48,692
of the rival railroad,
creating the largest
213
00:17:48,776 --> 00:17:51,486
single rail
company in America.
214
00:18:02,165 --> 00:18:04,541
- J.S. STILES: The New York
Central railroad
215
00:18:04,625 --> 00:18:06,835
became the centerpiece
of his empire,
216
00:18:06,919 --> 00:18:10,380
and it came to him as
the sudden result
217
00:18:10,465 --> 00:18:13,508
of a skillfully executed
campaign to get revenge.
218
00:18:13,593 --> 00:18:17,929
Railroads
soon criss-cross America,
219
00:18:18,014 --> 00:18:19,890
tying together the
country in a way
220
00:18:19,974 --> 00:18:23,769
that just fifteen years
earlier was unimaginable,
221
00:18:24,145 --> 00:18:26,938
and providing
over 180,000 jobs.
222
00:18:27,815 --> 00:18:30,567
Laying tracks becomes
America's engine
223
00:18:30,651 --> 00:18:32,652
for unprecedented growth.
224
00:18:32,737 --> 00:18:36,740
- H.W. BRANDS: Railroads
allowed the industrial economy
225
00:18:36,824 --> 00:18:39,785
to boom in ways that it
couldn't have before.
226
00:18:40,495 --> 00:18:43,455
- ALAN GREENSPAN: One
advance after the other,
227
00:18:43,539 --> 00:18:47,751
which essentially was
led by the railroads,
228
00:18:47,835 --> 00:18:52,214
largely because there was
a need to close the gap
229
00:18:52,298 --> 00:18:55,592
between those east
of the Mississippi
230
00:18:55,676 --> 00:18:57,803
and those on the West Coast.
231
00:18:59,806 --> 00:19:02,599
Vanderbilt
has made himself
232
00:19:02,683 --> 00:19:04,976
the undisputed king
of railroads.
233
00:19:06,145 --> 00:19:09,481
And now, he wants
the world to know it.
234
00:19:10,066 --> 00:19:12,651
He envisions a monument
that will symbolize
235
00:19:12,735 --> 00:19:14,402
his immense power.
236
00:19:20,660 --> 00:19:23,203
- Work will begin on
building a new station
237
00:19:23,287 --> 00:19:25,455
that will bring together
the three railroads:
238
00:19:25,540 --> 00:19:28,750
the Harlem, the Hudson,
and the Central.
239
00:19:28,835 --> 00:19:31,044
It shall be in the
heart of New York,
240
00:19:31,128 --> 00:19:34,798
and be called the
Grand Central Depot.
241
00:19:47,728 --> 00:19:51,022
Thousands
of workers labor
242
00:19:51,107 --> 00:19:55,527
over the next two years,
on the most ambitious
243
00:19:55,611 --> 00:19:59,281
urban construction project
America has ever seen.
244
00:20:02,660 --> 00:20:04,828
Grand Central is the
biggest building
245
00:20:04,912 --> 00:20:10,458
in all of New York City, and
the biggest train station
246
00:20:10,543 --> 00:20:14,880
in the country, covering
some twenty-two acres.
247
00:20:23,389 --> 00:20:27,183
- T.J. STILES: This enormous
building towered
248
00:20:27,268 --> 00:20:30,395
over every other building in
New York at the time.
249
00:20:30,479 --> 00:20:33,690
And it was a physical
symbol of the size and power
250
00:20:33,774 --> 00:20:36,109
of Vanderbilt's
railroad empire.
251
00:20:36,193 --> 00:20:38,403
Its importance as
a physical symbol,
252
00:20:38,487 --> 00:20:40,572
as a physical capital
of his empire,
253
00:20:40,656 --> 00:20:42,198
cannot be underestimated.
254
00:20:42,283 --> 00:20:46,244
And it still stamps New
York's geography to this day.
255
00:20:50,291 --> 00:20:55,086
Vanderbilt
may be on top of the world,
256
00:20:56,130 --> 00:20:58,548
but his blind
ambition will soon make him
257
00:20:58,633 --> 00:21:01,343
vulnerable to a
challenge coming
258
00:21:01,427 --> 00:21:04,387
from the most unlikely
pair imaginable.
259
00:21:05,806 --> 00:21:07,057
- To Vanderbilt's money!
260
00:21:17,777 --> 00:21:20,737
The growth
of the railroads thrusts
261
00:21:20,821 --> 00:21:23,406
America into the biggest
building expansion
262
00:21:23,491 --> 00:21:28,745
the country has ever seen, led
by a new breed of leader.
263
00:21:28,829 --> 00:21:30,538
- STEVE CASE: The story
ofAmerica
264
00:21:30,623 --> 00:21:32,374
isn't just the story
of the patriots
265
00:21:32,458 --> 00:21:34,167
that helped build
the democracy.
266
00:21:34,251 --> 00:21:36,169
The reason the United
States is a leading economy
267
00:21:36,253 --> 00:21:38,046
in the world is
because of the work
268
00:21:38,130 --> 00:21:40,924
of entrepreneurs who created
entire industries
269
00:21:41,008 --> 00:21:43,343
that propelled the United
States to be the leader
270
00:21:43,427 --> 00:21:45,011
of the free world.
271
00:21:45,096 --> 00:21:48,723
One man,
Cornelius Vanderbilt,
272
00:21:49,976 --> 00:21:52,769
through brute force
and intimidation,
273
00:21:52,853 --> 00:21:56,398
has made himself the undisputed
king of the railroads.
274
00:21:58,359 --> 00:22:02,153
He now owns forty percent
ofAmerica's train lines.
275
00:22:06,033 --> 00:22:07,617
But he wants them all.
276
00:22:07,702 --> 00:22:09,828
- DONNY DEUTSCH: To me,
it's always "What's next?"
277
00:22:09,912 --> 00:22:12,080
and I think that's what drives
most very successful people.
278
00:22:12,164 --> 00:22:13,206
It's never
about the money.
279
00:22:13,290 --> 00:22:14,916
I mean, that's a way
of keeping score.
280
00:22:15,001 --> 00:22:17,293
It's about achievement,
and it's about winning a game,
281
00:22:17,378 --> 00:22:19,170
and it's about
upping the ante.
282
00:22:21,424 --> 00:22:25,051
Chicago is
America's fastest growing city.
283
00:22:25,386 --> 00:22:27,262
The line connecting
it to New York
284
00:22:27,346 --> 00:22:30,306
is the most traveled and
valuable in all the world.
285
00:22:32,059 --> 00:22:34,227
And it's not Vanderbilt's.
286
00:22:36,439 --> 00:22:38,565
To make his
empire complete,
287
00:22:38,649 --> 00:22:41,818
he must gain control
of the Erie Line.
288
00:22:46,657 --> 00:22:49,826
- The Erie was one of the
relatively early publicly
289
00:22:49,910 --> 00:22:51,202
traded corporations.
290
00:22:51,954 --> 00:22:53,705
Vanderbilt had
the advantage
291
00:22:53,789 --> 00:22:56,332
of millions and millions
of dollars.
292
00:22:56,417 --> 00:22:58,877
Deep pockets are always
an advantage
293
00:22:58,961 --> 00:23:01,963
when you're trying to gain
control of a corporation.
294
00:23:09,388 --> 00:23:13,391
Vanderbilt
instructs his agents
295
00:23:13,476 --> 00:23:16,394
to buy up as much
stock as possible...
296
00:23:16,479 --> 00:23:18,646
- Buying Erie!
Buying Erie!
297
00:23:18,731 --> 00:23:21,232
... demanding
control of the company
298
00:23:21,317 --> 00:23:22,525
by the end of the week.
299
00:23:22,610 --> 00:23:24,194
- Erie at forty-five!
300
00:23:24,278 --> 00:23:26,821
It's a
vintage Vanderbilt move--
301
00:23:26,906 --> 00:23:31,659
one he pioneered--known
today as a "hostile takeover".
302
00:23:32,620 --> 00:23:33,912
- Erie, fifty!
303
00:23:38,459 --> 00:23:41,544
But his
attempt will be thwarted
304
00:23:41,629 --> 00:23:47,008
by an even more ingenious
idea cooked up by two unknowns:
305
00:23:48,260 --> 00:23:50,303
Jay Gould and Jim Fisk.
306
00:23:50,387 --> 00:23:52,055
- JIM FISK: All right.
307
00:23:52,139 --> 00:23:54,182
- The mistake that the
Erie Board have made is
308
00:23:54,266 --> 00:23:56,351
that they have telegraphed
where they need to expand
309
00:23:56,435 --> 00:23:57,811
without securing
the land first.
310
00:23:57,895 --> 00:23:59,479
Gould
and Fisk are stuck
311
00:23:59,563 --> 00:24:01,856
in middle-management
at the Erie.
312
00:24:01,941 --> 00:24:04,651
But they represent the new
America that Vanderbilt
313
00:24:04,735 --> 00:24:06,277
is helping to create.
314
00:24:06,654 --> 00:24:09,989
One of self-made men
with ruthless ambition.
315
00:24:11,575 --> 00:24:13,993
And after years of
watching the Commodore
316
00:24:14,078 --> 00:24:18,373
dominate, they're eager
to build their own empire.
317
00:24:18,874 --> 00:24:21,000
They recognize
Vanderbilt's plan
318
00:24:21,085 --> 00:24:24,671
to buy the line, and
see the opportunity
319
00:24:25,005 --> 00:24:26,714
they've been waiting for.
320
00:24:26,799 --> 00:24:28,508
- TED TURNER:
Competition, I think,
321
00:24:28,592 --> 00:24:31,219
it's good for the system,
and it's really, I think,
322
00:24:31,303 --> 00:24:33,096
what most
businesses is about,
323
00:24:33,180 --> 00:24:36,766
is doing a better job, and
out-hustling your competitors.
324
00:24:44,316 --> 00:24:48,278
Gould and
Fisk begin printing
325
00:24:48,362 --> 00:24:50,155
new shares of stock,
326
00:24:52,700 --> 00:24:54,075
using a printing press
327
00:24:54,160 --> 00:24:57,162
they set up in the basement
of the Erie offices.
328
00:24:58,539 --> 00:25:01,749
Each share they print
dilutes Vanderbilt's stake
329
00:25:01,834 --> 00:25:06,129
in the company, and they
print over one hundred thousand.
330
00:25:06,213 --> 00:25:09,966
- H.W. BRANDS: There was some
fine print in one of the clauses
331
00:25:10,050 --> 00:25:11,718
of the Erie's
charter that allowed
332
00:25:11,802 --> 00:25:14,637
the board of directors
to issue new stock,
333
00:25:14,930 --> 00:25:17,182
unbeknownst to
the shareholders.
334
00:25:17,600 --> 00:25:18,725
- Go.
335
00:25:20,144 --> 00:25:22,478
- H.W. BRANDS: And so, the more
shares that Vanderbilt
336
00:25:22,563 --> 00:25:27,150
bought, the more he had to
buy in order to approach
337
00:25:27,234 --> 00:25:28,651
that magic majority.
338
00:25:31,280 --> 00:25:35,450
Their plan is known
as "watering down stock".
339
00:25:35,534 --> 00:25:38,077
Highly illegal
today, at the time,
340
00:25:38,162 --> 00:25:40,622
it had never
been imagined.
341
00:25:40,706 --> 00:25:42,790
Its simplicity
is brilliant.
342
00:25:45,294 --> 00:25:47,879
And Wall Street
is never the same.
343
00:25:48,797 --> 00:25:51,049
- MARK CUBAN: The only
rule was there were no rules.
344
00:25:51,133 --> 00:25:54,010
Whatever it took to put
your competition
345
00:25:54,094 --> 00:25:56,554
out of business, they were
gonna try to do it.
346
00:25:58,641 --> 00:26:03,061
Unaware,
Vanderbilt continues to buy.
347
00:26:04,605 --> 00:26:06,856
- Think of the
look on his face.
348
00:26:08,442 --> 00:26:11,277
- Oh, God, I wish I could
be a fly on that wall.
349
00:26:28,837 --> 00:26:32,215
The freshly
printed shares
350
00:26:32,299 --> 00:26:35,134
are hand-delivered
to Vanderbilt.
351
00:26:42,518 --> 00:26:44,811
- Here are the
Erie shares.
352
00:26:46,689 --> 00:26:48,898
I assume we control
the company now.
353
00:27:21,682 --> 00:27:23,391
- A toast!
- A toast.
354
00:27:23,475 --> 00:27:24,475
- To money!
355
00:27:25,728 --> 00:27:27,228
- To Vanderbilt's money!
356
00:27:29,648 --> 00:27:32,275
Vanderbilt
has bought seven million dollars
357
00:27:32,359 --> 00:27:35,486
of watered-down
stock from Gould and Fisk.
358
00:27:37,364 --> 00:27:40,408
Today, worth over
one billion dollars.
359
00:28:06,018 --> 00:28:09,020
Vanderbilt has been
underestimated before,
360
00:28:12,066 --> 00:28:14,275
but if you
come at the king,
361
00:28:14,360 --> 00:28:16,736
you shouldn't
expect to win.
362
00:28:24,661 --> 00:28:26,579
The greatest growth
explosion
363
00:28:26,663 --> 00:28:29,290
in America's short
life is underway.
364
00:28:30,250 --> 00:28:34,003
Rail lines now connect
huge expanses of the country.
365
00:28:35,047 --> 00:28:37,548
Controlling them means
having power
366
00:28:37,633 --> 00:28:41,511
that just five years earlier
was unimaginable.
367
00:28:42,221 --> 00:28:44,722
Many are staking
their claim.
368
00:28:47,017 --> 00:28:49,685
- RON PERELMAN: I think
there are people
369
00:28:49,770 --> 00:28:54,065
in every generation that have
a vision that, um,
370
00:28:54,775 --> 00:28:57,235
transcends their
moment and their time.
371
00:28:58,862 --> 00:29:01,280
"Commodore"
Cornelius Vanderbilt owns
372
00:29:01,365 --> 00:29:04,283
more miles of rail than
anyone in the world.
373
00:29:05,160 --> 00:29:09,747
But like all men of power, he
faces constant challenges.
374
00:29:13,210 --> 00:29:16,712
- DONALD TRUMP: Competition
gets very aggressive.
375
00:29:16,797 --> 00:29:19,048
People have no idea
how aggressive it is.
376
00:29:19,133 --> 00:29:20,716
And sometimes, you
don't even hear it,
377
00:29:20,801 --> 00:29:22,385
because what goes on
behind your back
378
00:29:22,469 --> 00:29:25,179
is not a pretty picture.
379
00:29:25,264 --> 00:29:26,889
At the
height of his power,
380
00:29:26,974 --> 00:29:30,143
Vanderbilt is outsmarted
by a pair of unknowns.
381
00:29:30,227 --> 00:29:31,686
- To Vanderbilt's money!
382
00:29:33,147 --> 00:29:36,232
Jay Gould and
Jim Fisk have fleeced
383
00:29:36,316 --> 00:29:38,443
the Commodore out of millions.
384
00:29:40,571 --> 00:29:43,072
And they want the
world to know it.
385
00:29:43,615 --> 00:29:45,992
- Thank you,
don't mind if I do.
386
00:29:48,954 --> 00:29:52,081
Now, it is no secret
what Vanderbilt
387
00:29:52,166 --> 00:29:53,499
has been trying to do.
388
00:29:53,584 --> 00:29:56,586
He owns more railroads
than anybody else.
389
00:29:56,879 --> 00:30:00,548
But Gould and me, we
have struck a blow
390
00:30:00,632 --> 00:30:02,341
for the little guy.
391
00:30:02,801 --> 00:30:05,344
Now, sure, he may
be rich, and sure,
392
00:30:05,429 --> 00:30:09,682
he may be powerful, but
somebody had to stand up
393
00:30:09,766 --> 00:30:10,933
to the old bastard.
394
00:30:13,520 --> 00:30:16,230
- T.J. STILES: It was a
humiliating defeat
395
00:30:16,315 --> 00:30:19,942
for the Commodore, a man who
was so fiercely competitive,
396
00:30:20,027 --> 00:30:22,820
who wanted to win at
absolutely everything,
397
00:30:23,197 --> 00:30:25,656
to whom money
was so important,
398
00:30:25,741 --> 00:30:29,452
and here he was, defeated,
and insulted publicly,
399
00:30:29,536 --> 00:30:30,995
by Gould and Fisk.
400
00:30:37,252 --> 00:30:42,006
Gould and
Fisk may be on top of the world,
401
00:30:42,090 --> 00:30:45,426
but they've
awakened a sleeping lion.
402
00:30:50,224 --> 00:30:53,226
Vanderbilt vows to
never be beaten again.
403
00:30:53,310 --> 00:30:56,979
- SUMNER REDSTONE: They
don't think in terms of money.
404
00:30:57,064 --> 00:30:59,774
They think in
terms of winning.
405
00:30:59,858 --> 00:31:02,235
Now, naturally, if you
win big in business,
406
00:31:02,319 --> 00:31:05,738
money follows, but that
shouldn't be your objective.
407
00:31:05,822 --> 00:31:08,199
Your objective
should be to win.
408
00:31:09,117 --> 00:31:13,496
Win, win, win. All the time.
Not sometimes. Every time.
409
00:31:13,580 --> 00:31:17,250
Vanderbilt
immediately begins
410
00:31:17,334 --> 00:31:19,085
looking for a new edge.
411
00:31:21,421 --> 00:31:25,049
He realizes that the railroads
have been overbuilt,
412
00:31:25,133 --> 00:31:27,843
and the future of the
industry isn't in building
413
00:31:27,928 --> 00:31:31,305
new lines, but in
transporting new cargo.
414
00:31:35,269 --> 00:31:40,022
- JACK WELCH: Innovation
is not a big breakthrough
415
00:31:40,107 --> 00:31:41,482
invention every time.
416
00:31:41,567 --> 00:31:44,277
Innovation is a
constant thing.
417
00:31:44,361 --> 00:31:46,821
And if you don't have an
innovate company
418
00:31:46,905 --> 00:31:50,783
coming to work everyday to
find a better way,
419
00:31:50,867 --> 00:31:52,660
you don't have a company.
420
00:31:53,662 --> 00:31:55,955
You're getting ready
to die on the vine.
421
00:31:58,625 --> 00:32:00,751
If Vanderbilt
can corner the market
422
00:32:00,836 --> 00:32:04,213
on a new source of freight,
one that can keep his trains
423
00:32:04,298 --> 00:32:07,216
constantly full, he'll
be able to control
424
00:32:07,301 --> 00:32:08,968
the railroad industry.
425
00:32:10,470 --> 00:32:13,222
And the Commodore knows
just where to look.
426
00:32:32,409 --> 00:32:35,953
Oil is revolutionizing
life in America.
427
00:32:38,332 --> 00:32:41,834
Crude from the ground
is being refined into kerosene,
428
00:32:46,673 --> 00:32:49,467
a safe and
inexpensive source of light,
429
00:32:51,094 --> 00:32:53,929
and that access
to light is completely
430
00:32:54,014 --> 00:32:56,307
changing the way
Americans live.
431
00:32:57,392 --> 00:32:59,644
Before kerosene, the
average American
432
00:32:59,728 --> 00:33:02,688
didn't have access to a
consistent light source.
433
00:33:04,566 --> 00:33:07,985
When the sun came
down, darkness ruled.
434
00:33:13,367 --> 00:33:17,036
Kerosene is a phenomenon that
will forever change the world.
435
00:33:18,121 --> 00:33:22,291
And Vanderbilt knows it's
his next opportunity to cash in.
436
00:33:22,376 --> 00:33:25,503
- RUSSELL SIMMONS: The
idea is to see what's missing.
437
00:33:25,587 --> 00:33:27,505
That's what a creative
entrepreneur does,
438
00:33:27,589 --> 00:33:29,882
he serves people
things that they need.
439
00:33:31,259 --> 00:33:33,719
Some people can't find
a new thing to do.
440
00:33:34,429 --> 00:33:36,180
But sometimes you see
something
441
00:33:36,264 --> 00:33:38,474
that everybody has to have.
442
00:33:38,558 --> 00:33:40,267
Oh men, I've got
to give them this
443
00:33:40,644 --> 00:33:42,311
And then you go
to work on it.
444
00:33:42,396 --> 00:33:43,521
Because they need it.
445
00:33:43,605 --> 00:33:45,815
Vanderbilt
sees the demand for
446
00:33:45,899 --> 00:33:48,776
kerosene skyrocketing
all across the country.
447
00:33:50,696 --> 00:33:52,697
He knows that to
meet the demand,
448
00:33:52,781 --> 00:33:54,365
the makers of
kerosene will need
449
00:33:54,449 --> 00:33:56,742
a new way to ship their oil.
450
00:33:59,788 --> 00:34:03,833
If Vanderbilt can corner the
market on those oil shipments,
451
00:34:03,917 --> 00:34:06,293
he'll propel himself
back to the top
452
00:34:06,378 --> 00:34:08,379
of the railroad industry.
453
00:34:09,548 --> 00:34:12,883
All he needs to do now
is find a supplier.
454
00:34:20,600 --> 00:34:23,477
- We're gonna extend along the
south shore to Cleveland.
455
00:34:24,855 --> 00:34:26,564
- WILLIAM: Why Cleveland?
456
00:34:26,857 --> 00:34:29,608
Cleveland is
a small city
457
00:34:29,693 --> 00:34:32,069
ofjust under fifty thousand,
458
00:34:32,154 --> 00:34:35,823
but it's sitting on top
of an ocean of oil.
459
00:34:36,783 --> 00:34:40,244
Eastern Ohio is the
Middle East of its day,
460
00:34:41,079 --> 00:34:43,080
and the area around
Cleveland
461
00:34:43,165 --> 00:34:46,041
is one of the largest
oil fields in the world.
462
00:34:46,752 --> 00:34:49,170
Vanderbilt learns
about a refinery
463
00:34:49,254 --> 00:34:51,630
built near the railroads
in Cleveland.
464
00:34:52,132 --> 00:34:55,092
The perfect mark
for his master plan.
465
00:34:56,511 --> 00:34:58,721
He reaches out
to the owner,
466
00:34:59,014 --> 00:35:01,390
a struggling young
oil man Vanderbilt
467
00:35:01,475 --> 00:35:03,851
is hoping to pluck
from obscurity.
468
00:35:06,730 --> 00:35:09,940
That oil man is
John D. Rockefeller.
469
00:35:17,491 --> 00:35:19,700
- Why are we playing
so much in plumbers?
470
00:35:19,785 --> 00:35:21,076
- We run a refinery.
471
00:35:22,412 --> 00:35:24,663
- So, we start
making our own pipes.
472
00:35:29,586 --> 00:35:33,005
At this rate, we'll be lucky
if we break even this year.
473
00:35:34,007 --> 00:35:36,509
- If you wanna call it
a day, John, just say.
474
00:35:46,311 --> 00:35:47,603
- I should go.
475
00:35:50,106 --> 00:35:52,691
- ELIZA: Is
everything all right?
476
00:35:53,193 --> 00:35:54,318
- It's fine.
477
00:35:58,532 --> 00:36:00,825
At the
age of twenty-seven,
478
00:36:00,909 --> 00:36:03,327
Rockefeller is in the
early stages of building
479
00:36:03,411 --> 00:36:07,289
his refining business, but
his company is teetering
480
00:36:07,374 --> 00:36:09,166
on the verge
of bankruptcy.
481
00:36:10,377 --> 00:36:13,254
Vanderbilt sees him as
someone he can manipulate
482
00:36:13,338 --> 00:36:14,713
to his advantage.
483
00:36:16,883 --> 00:36:20,010
An exclusive deal to ship
Rockefeller's oil
484
00:36:20,554 --> 00:36:23,138
will guarantee that the
Commodore's trains
485
00:36:23,223 --> 00:36:24,974
stay filled with cargo.
486
00:36:25,058 --> 00:36:26,976
Vanderbilt invites
Rockefeller
487
00:36:27,060 --> 00:36:29,019
to meet with him in New York.
488
00:36:35,485 --> 00:36:37,862
For the young oil man,
the meeting
489
00:36:37,946 --> 00:36:40,322
is the opportunity
of a lifetime.
490
00:36:41,449 --> 00:36:43,242
A way out of his troubles,
491
00:36:45,078 --> 00:36:49,331
and a way to save his company
from complete collapse.
492
00:36:50,208 --> 00:36:52,960
- T.J. STILES: Rockefeller,
he respected Vanderbilt.
493
00:36:53,044 --> 00:36:54,795
He could see what
he had achieved.
494
00:36:54,880 --> 00:36:58,340
Vanderbilt was setting the
pattern and the archetype
495
00:36:58,425 --> 00:37:01,093
of what Rockefeller
himself wanted to be.
496
00:37:01,177 --> 00:37:04,388
He wanted to be the
Vanderbilt of petroleum.
497
00:37:04,472 --> 00:37:06,849
That's the way
he saw himself.
498
00:37:06,933 --> 00:37:10,352
As
Rockefeller prepares
499
00:37:10,437 --> 00:37:12,688
for his trip to New York,
500
00:37:12,772 --> 00:37:15,816
Vanderbilt's plan
is set in motion.
501
00:37:48,892 --> 00:37:50,476
- How long is
this going to take?
502
00:37:50,560 --> 00:37:51,810
- Five to ten minutes.
503
00:38:02,364 --> 00:38:06,992
The train
departs Cleveland at 6:25 AM.
504
00:38:40,735 --> 00:38:42,486
America is rising.
505
00:38:43,279 --> 00:38:46,281
The country is experiencing
a period of growth
506
00:38:46,366 --> 00:38:48,367
like none it's ever seen.
507
00:38:48,952 --> 00:38:51,537
Railroads have
united the states,
508
00:38:51,913 --> 00:38:56,375
and commerce flows with a speed
never before thought possible.
509
00:38:57,252 --> 00:39:00,462
The man at the forefront
of this explosive change
510
00:39:00,547 --> 00:39:03,716
is Cornelius
Vanderbilt, but at 76,
511
00:39:04,050 --> 00:39:07,136
he realizes that the
railroads have been overbuilt.
512
00:39:09,305 --> 00:39:11,306
To stay ahead of
the competition,
513
00:39:11,391 --> 00:39:14,476
the Commodore turns to a
new exploding industry,
514
00:39:15,103 --> 00:39:19,523
and a struggling young oil man,
John D. Rockefeller.
515
00:39:21,067 --> 00:39:24,611
Vanderbilt invites him to
New York City for a meeting.
516
00:40:15,121 --> 00:40:16,580
Fate intervenes.
517
00:40:18,374 --> 00:40:21,085
- ROCKFELLER: The
Lord is my shepherd.
518
00:40:22,712 --> 00:40:24,296
I shall not want.
519
00:40:27,634 --> 00:40:30,594
He maketh me to lie
down in green pastures.
520
00:40:33,056 --> 00:40:34,848
He restoreth my soul.
521
00:40:37,602 --> 00:40:41,188
John Rockefeller
narrowly missed the train,
522
00:40:41,272 --> 00:40:42,898
one that
would've carried him
523
00:40:42,982 --> 00:40:44,733
to his certain death.
524
00:40:45,485 --> 00:40:48,153
The close call has
a profound impact
525
00:40:48,238 --> 00:40:49,905
on the young oil man.
526
00:40:51,116 --> 00:40:53,242
- He leadeth me into
paths of righteousness
527
00:40:53,326 --> 00:40:54,660
for His name's sake.
528
00:40:56,538 --> 00:40:57,496
Amen.
529
00:40:59,124 --> 00:41:01,375
A
man of deep faith,
530
00:41:01,459 --> 00:41:05,170
he becomes convinced that
God has spared him for a reason.
531
00:41:05,255 --> 00:41:08,048
- H.W. BRANDS: Without thinking
that he himself
532
00:41:08,133 --> 00:41:10,050
in particular was chosen
by God to become
533
00:41:10,135 --> 00:41:12,970
this great business success,
Rockefeller believed
534
00:41:13,054 --> 00:41:15,389
that everything was
divinely ordained,
535
00:41:15,473 --> 00:41:19,101
so nothing happened in the
world without God's will,
536
00:41:19,185 --> 00:41:20,686
without God's blessing.
537
00:41:20,770 --> 00:41:23,188
Rockefeller
once again heads
538
00:41:23,273 --> 00:41:25,983
to meet with Vanderbilt
as a changed man.
539
00:41:27,527 --> 00:41:29,403
Where before he
was intimidated,
540
00:41:29,487 --> 00:41:33,407
and facing bankruptcy,
now he's a man of destiny.
541
00:41:41,916 --> 00:41:44,293
Cornelius Vanderbilt
may be the richest
542
00:41:44,377 --> 00:41:46,670
and most powerful man
in the country,
543
00:41:47,672 --> 00:41:50,257
accustomed to getting
what he wants,
544
00:41:52,594 --> 00:41:56,763
but he has no idea what
he's about to encounter.
545
00:42:43,770 --> 00:42:47,397
- Every business is about
understanding people.
546
00:42:47,482 --> 00:42:49,566
Which people you
have to get through,
547
00:42:49,651 --> 00:42:51,860
which people you
have to embrace,
548
00:42:51,945 --> 00:42:53,862
which people you
have to jump over,
549
00:42:53,947 --> 00:42:56,531
which people you have
to push out of the way.
550
00:42:56,616 --> 00:42:57,908
That's the game.
551
00:43:00,912 --> 00:43:03,121
Cornelius
Vanderbilt may be the richest
552
00:43:03,206 --> 00:43:05,582
and most powerful man
in the country,
553
00:43:06,334 --> 00:43:08,627
accustomed to getting
what he wants,
554
00:43:11,506 --> 00:43:15,592
but he has no idea what
he's about to encounter.
555
00:44:15,445 --> 00:44:17,779
♪ When I got to Memphis ♪
556
00:44:18,781 --> 00:44:20,699
♪ To put my
ol' baby down ♪
557
00:44:21,617 --> 00:44:25,203
♪ He said, "I can't
take you to Heaven" ♪
558
00:44:26,497 --> 00:44:28,498
♪ "I can't save
your soul" ♪
559
00:44:29,876 --> 00:44:32,085
♪ "I can't
promise forever" ♪
560
00:44:32,628 --> 00:44:36,548
♪ Whoa, yeah, got my
heart in your hands ♪
561
00:44:38,468 --> 00:44:40,135
♪ I can't feel ♪
562
00:44:41,596 --> 00:44:43,180
♪ Feel my soul ♪
563
00:44:47,060 --> 00:44:49,394
- Do you play cards,
Mr. Rockefeller?
564
00:44:50,313 --> 00:44:51,229
- No.
565
00:44:51,981 --> 00:44:53,231
- VANDERBILT: Shame.
566
00:44:54,776 --> 00:44:57,069
You could learn a lot
about competition.
567
00:44:58,237 --> 00:44:59,905
- I know all
I need to know.
568
00:45:04,368 --> 00:45:08,163
- So. I'm looking to do a deal
with an oil refinery.
569
00:45:10,208 --> 00:45:12,000
And that could be you.
570
00:45:13,628 --> 00:45:15,504
- I'm willing to do
an exclusive deal.
571
00:45:17,215 --> 00:45:18,799
A dollar sixty-five
a barrel.
572
00:45:20,093 --> 00:45:22,511
- That's a discount
of more than a third.
573
00:45:23,304 --> 00:45:25,555
There are several
refineries in Cleveland.
574
00:45:26,307 --> 00:45:28,308
Why should I give
you such a deal?
575
00:45:32,271 --> 00:45:35,315
- Because I'll fill all
your trains with my oil.
576
00:45:38,152 --> 00:45:39,778
And if you don't
do the deal,
577
00:45:40,655 --> 00:45:42,447
I'll fill someone
else's trains.
578
00:45:51,916 --> 00:45:53,208
- Mr. Rockefeller.
579
00:46:01,342 --> 00:46:02,634
- Do you trust him?
580
00:46:03,886 --> 00:46:05,053
- I don't know.
581
00:46:08,724 --> 00:46:10,517
Rockefeller may
have gotten the rate
582
00:46:10,601 --> 00:46:13,478
he was looking for,
but in return,
583
00:46:13,813 --> 00:46:15,689
he's agreed to provide
Vanderbilt
584
00:46:15,773 --> 00:46:18,900
with over sixty train cars
of oil every day.
585
00:46:21,445 --> 00:46:23,697
The only problem is,
Rockefeller has
586
00:46:23,781 --> 00:46:25,991
no way to produce that
much kerosene.
587
00:46:26,951 --> 00:46:29,828
His capacity is less
than half of that.
588
00:46:32,832 --> 00:46:34,791
Rockefeller has
over-promised,
589
00:46:35,668 --> 00:46:37,460
but he knows the deal
with Vanderbilt
590
00:46:37,545 --> 00:46:40,213
will be the opportunity he's
been waiting for.
591
00:46:41,257 --> 00:46:44,384
He just needs to find
a way to produce more kerosene.
592
00:46:48,055 --> 00:46:51,808
It's a daunting task,
but John D. Rockefeller
593
00:46:51,893 --> 00:46:54,728
has been beating
the odds his entire life.
594
00:47:10,369 --> 00:47:13,622
Rockefeller is raised in a
poor Cleveland household,
595
00:47:15,249 --> 00:47:18,501
but even as a young man,
he yearns for something more,
596
00:47:19,337 --> 00:47:21,838
something bigger,
and he knows
597
00:47:21,923 --> 00:47:24,007
it isn't going to
be handed to him.
598
00:47:30,181 --> 00:47:33,934
As a young man, he shows
a strong entrepreneurial streak,
599
00:47:34,018 --> 00:47:36,478
starting his
own small business
600
00:47:37,063 --> 00:47:39,147
selling candy to
local children.
601
00:47:41,067 --> 00:47:42,442
- Thank you very much.
602
00:47:42,526 --> 00:47:43,818
Here's three pieces.
603
00:47:45,738 --> 00:47:49,074
From an early age,
Rockefeller helps to support
604
00:47:49,158 --> 00:47:53,453
his family, mostly
because he was never able
605
00:47:53,537 --> 00:47:55,080
to rely on his father.
606
00:47:57,250 --> 00:47:58,917
- BILL: It cures cancer.
607
00:47:59,001 --> 00:48:01,253
Folks, that is right,
it cures cancer.
608
00:48:01,337 --> 00:48:03,213
Now you're asking
yourself - Sir,
609
00:48:03,297 --> 00:48:06,633
I bet in your mind you're
saying, "Bill, is this true?"
610
00:48:06,717 --> 00:48:09,552
John Rockefeller's
father is a conman.
611
00:48:09,637 --> 00:48:11,304
- ...Rebecca, I met
seven years ago.
612
00:48:11,389 --> 00:48:12,847
She had pneumonia.
613
00:48:13,349 --> 00:48:16,726
Better known around
Cleveland as "Devil Bill".
614
00:48:16,811 --> 00:48:17,644
- Who would
like to buy some?
615
00:48:17,728 --> 00:48:19,813
A dollar twenty-five
a bottle. Yes, sir.
616
00:48:19,897 --> 00:48:21,982
He disappears for
months at a time,
617
00:48:22,066 --> 00:48:25,235
leaving his family without
money to support themselves.
618
00:48:25,319 --> 00:48:26,820
- I'm only here
for one day.
619
00:48:26,904 --> 00:48:28,405
Once I'm gone, I am gone.
620
00:48:28,489 --> 00:48:29,823
I may not be back.
621
00:48:56,934 --> 00:48:58,893
Never trust anybody, son.
622
00:49:00,771 --> 00:49:01,813
Not even me.
623
00:49:17,163 --> 00:49:19,748
With his father
gone, Rockefeller is forced
624
00:49:19,832 --> 00:49:23,752
to quit school and get a job to
support his mother and siblings.
625
00:49:24,378 --> 00:49:27,088
His work ethic and
intuition will become
626
00:49:27,173 --> 00:49:29,883
the building blocks for
the American dream.
627
00:49:29,967 --> 00:49:31,384
- JOHN D. ROCKEFELLER IV:
My great-grandfather,
628
00:49:31,469 --> 00:49:34,554
John D. Rockefeller,
was an absolutely
629
00:49:34,638 --> 00:49:37,015
brilliant businessman when
he started out.
630
00:49:37,099 --> 00:49:38,391
He wasn't even in
oil or anything.
631
00:49:38,476 --> 00:49:40,769
You know, he worked
at it very very hard,
632
00:49:40,853 --> 00:49:44,397
and there's an ethic in the
Rockefeller family of hard work.
633
00:49:45,900 --> 00:49:47,817
Stuck in a
dead-end job,
634
00:49:47,902 --> 00:49:50,695
he becomes fixated on
finding a big idea,
635
00:49:50,780 --> 00:49:52,280
and taking a chance.
636
00:50:00,414 --> 00:50:02,457
- PASTOR: Be
therefore perfect,
637
00:50:03,834 --> 00:50:07,545
even as your father, which
is in Heaven, is perfect.
638
00:50:20,017 --> 00:50:21,476
Would you please rise?
639
00:50:23,145 --> 00:50:24,854
Let us sing Hymn 89.
640
00:50:28,025 --> 00:50:30,026
- CONGREGATION:
♪ Joyful, joyful ♪
641
00:50:30,111 --> 00:50:31,986
♪ We adore Thee ♪
642
00:50:32,071 --> 00:50:34,030
♪ God of glory ♪
643
00:50:34,115 --> 00:50:35,698
♪ Lord above ♪
644
00:50:54,093 --> 00:50:56,761
- MAN: Get out!
It's gonna blow, get out!
645
00:51:02,268 --> 00:51:03,309
- CONGREGATION:
646
00:51:03,394 --> 00:51:07,272
♪ Hearts unfold like
flowers before Thee ♪
647
00:51:07,356 --> 00:51:12,068
- ♪ Opening to the sun above ♪
648
00:51:12,153 --> 00:51:15,321
♪ Melt the clouds
of sin and sadness... ♪
649
00:51:20,744 --> 00:51:24,914
- ♪ Drive the dark
of doubt away ♪
650
00:51:24,999 --> 00:51:29,377
♪ Giver of
immortal gladness ♪
651
00:51:31,046 --> 00:51:33,923
- ♪ Fill us with
the light of day ♪
652
00:52:29,188 --> 00:52:32,023
- I think entrepreneurs,
and certain business people,
653
00:52:32,107 --> 00:52:33,858
just look at life,
and look at things
654
00:52:33,943 --> 00:52:37,278
that are changing, and are able
to see those things
655
00:52:37,363 --> 00:52:39,864
and say, "I can create a
business out of that."
656
00:52:53,295 --> 00:52:56,673
Rockefeller
realizes oil has the potential
657
00:52:56,757 --> 00:52:58,258
to change the world.
658
00:53:00,094 --> 00:53:02,720
And, make him rich
in the process.
659
00:53:07,726 --> 00:53:10,353
But Rockefeller knows
that drilling for oil
660
00:53:10,437 --> 00:53:13,231
is a gamble filled
with uncertainty.
661
00:53:14,483 --> 00:53:16,859
And since he doesn't
believe in luck,
662
00:53:16,944 --> 00:53:19,737
he starts looking for a
way to make money from oil
663
00:53:19,822 --> 00:53:21,072
without the risk.
664
00:53:21,615 --> 00:53:24,242
- H.W. BRAND: He had a
mind for efficiency.
665
00:53:24,326 --> 00:53:26,578
And there was probably
something in him
666
00:53:26,662 --> 00:53:28,871
that looked at the production
process and saw
667
00:53:28,956 --> 00:53:30,582
how wasteful that was.
668
00:53:30,666 --> 00:53:31,583
In the first place
you drill wells,
669
00:53:31,667 --> 00:53:32,667
and they turn up dry.
670
00:53:32,751 --> 00:53:34,502
And then you drill wells
and they hit a gusher,
671
00:53:34,587 --> 00:53:36,588
and half the oil
would be lost.
672
00:53:36,672 --> 00:53:40,133
And that offended his
sense of efficiency.
673
00:53:41,802 --> 00:53:45,138
Rockefeller knows
there's a better way.
674
00:53:46,015 --> 00:53:48,349
- Today, everybody wants
to be an entrepreneur.
675
00:53:48,434 --> 00:53:51,352
They've heard these great
stories, you know, about Apple.
676
00:53:51,437 --> 00:53:53,187
But, you know what, when
you start a company,
677
00:53:53,272 --> 00:53:54,647
you can think what the
revenues are gonna be,
678
00:53:54,732 --> 00:53:56,649
how much it's gonna be
worth to shareholders,
679
00:53:56,734 --> 00:53:59,193
but you always need
a technical element.
680
00:53:59,278 --> 00:54:01,613
You need somebody who
knows how to do it
681
00:54:01,697 --> 00:54:04,782
and build the things.
You need the scientists.
682
00:54:06,994 --> 00:54:10,163
Refining oil turns
crude from the ground
683
00:54:10,247 --> 00:54:16,002
into kerosene, a clean-burning
fuel that can be used in lamps.
684
00:54:19,173 --> 00:54:21,591
- Once the oil gets to
three-hundred and fifty degrees,
685
00:54:21,675 --> 00:54:23,968
the kerosene
starts to vaporize.
686
00:54:24,053 --> 00:54:28,806
Then once it's cooled,
you have a stable, pure product.
687
00:54:32,394 --> 00:54:34,437
- How much to
produce a gallon?
688
00:54:34,855 --> 00:54:36,856
- Fifty, sixty cents.
I don't know.
689
00:54:38,275 --> 00:54:40,193
Rockefeller's
insight puts him
690
00:54:40,277 --> 00:54:42,570
one step ahead
of his competitors.
691
00:54:42,655 --> 00:54:45,865
He believes that while
gamblers drill for oil,
692
00:54:45,949 --> 00:54:47,992
businessmen refine it.
693
00:54:48,494 --> 00:54:51,913
- Whoever could control
the refining process
694
00:54:51,997 --> 00:54:55,500
could very well have the
whole industry.
695
00:55:01,840 --> 00:55:03,383
At twenty-four years old,
696
00:55:03,467 --> 00:55:05,593
Rockefeller invests
everything he has--
697
00:55:05,678 --> 00:55:07,470
about four thousand
dollars--
698
00:55:07,554 --> 00:55:09,722
into building his
first refinery.
699
00:55:10,182 --> 00:55:11,140
- No, higher!
700
00:55:11,225 --> 00:55:12,141
Higher!
701
00:55:12,226 --> 00:55:13,643
But he struggles early on
702
00:55:13,727 --> 00:55:15,728
to find an edge in the
industry.
703
00:55:16,438 --> 00:55:19,023
That changes when the
most powerful man
704
00:55:19,108 --> 00:55:21,067
in the country comes calling.
705
00:55:21,151 --> 00:55:22,485
- Mr. Rockefeller.
706
00:55:23,320 --> 00:55:25,405
The deal with
Vanderbilt gives him cheap
707
00:55:25,489 --> 00:55:27,240
shipping rates and
the chance
708
00:55:27,324 --> 00:55:29,534
to corner the U.S oil market.
709
00:55:30,661 --> 00:55:33,996
But he's over-promised,
agreeing to supply sixty
710
00:55:34,081 --> 00:55:37,417
barrels a day, when his
capacity is less than half that.
711
00:55:38,752 --> 00:55:41,421
And when you've made a deal
with the most powerful man
712
00:55:41,505 --> 00:55:44,632
in America, failure
is not an option.
713
00:55:46,093 --> 00:55:47,135
- DONALD TRUMP: You
have to be smart,
714
00:55:47,219 --> 00:55:48,428
you have to have vision,
you have to have
715
00:55:48,512 --> 00:55:52,056
all these different things,
but the most successful people
716
00:55:52,141 --> 00:55:54,058
are the people that
had the right idea
717
00:55:54,143 --> 00:55:56,602
but never ever quit or gave up.
718
00:55:58,522 --> 00:56:00,815
The people that really
succeed in life
719
00:56:00,899 --> 00:56:02,608
are those that don't quit.
720
00:56:03,610 --> 00:56:07,196
Rockefeller needs
to quickly expand his company,
721
00:56:07,281 --> 00:56:09,490
and to do that,
he needs investors.
722
00:56:10,367 --> 00:56:13,536
The problem is, kerosene
is getting a bad name.
723
00:56:18,959 --> 00:56:21,711
Stories of the fuel
exploding and burning down
724
00:56:21,795 --> 00:56:23,838
homes are on the front
page of newspapers
725
00:56:23,922 --> 00:56:29,010
across the country, making
potential investors skeptical.
726
00:56:31,013 --> 00:56:33,765
Due to high demand, many
refiners are rushing
727
00:56:33,849 --> 00:56:36,058
to market with
dangerous kerosene
728
00:56:36,143 --> 00:56:37,727
that's extremely volatile.
729
00:56:41,857 --> 00:56:44,734
Rockefeller sees the
problem as an opportunity.
730
00:56:45,319 --> 00:56:47,695
He realizes that there's a
need to calm
731
00:56:47,780 --> 00:56:50,990
the public's fears and provide
them with a product
732
00:56:51,074 --> 00:56:52,533
they can rely on.
733
00:56:53,160 --> 00:56:57,371
- ROCKEFELLER: Oil refining.
Warehouses. Barrel making.
734
00:56:57,456 --> 00:56:59,123
And shipping facilities.
735
00:56:59,750 --> 00:57:01,000
- Why the name?
736
00:57:01,668 --> 00:57:03,920
- Because Standard Oil
will be the only company
737
00:57:04,004 --> 00:57:06,506
in the industry to
guarantee a uniform
738
00:57:06,590 --> 00:57:08,049
quality of kerosene.
739
00:57:11,929 --> 00:57:13,971
- JERRY WEINTRAUB:
The Rockefellers,
740
00:57:14,056 --> 00:57:16,182
and all these guys, they
were all great salesman.
741
00:57:16,266 --> 00:57:18,518
At the end of the day,
it's the salesmen
742
00:57:18,602 --> 00:57:19,811
who make the money.
743
00:57:20,938 --> 00:57:22,480
- STEVE WYNN: Well, you
can certainly understand
744
00:57:22,564 --> 00:57:25,191
how Rockefeller could've
named his oil company
745
00:57:25,275 --> 00:57:26,609
Standard Oil.
746
00:57:26,693 --> 00:57:28,611
Pretty ambitious,
organic name.
747
00:57:28,695 --> 00:57:32,615
He was creating a
standard, and, uh, it worked.
748
00:57:34,785 --> 00:57:37,745
Rockefeller's
Standard Oil quiets fears
749
00:57:37,830 --> 00:57:40,164
and immediately becomes the
most sought-after product
750
00:57:40,249 --> 00:57:43,918
in the country, bringing
in investor after investor.
751
00:57:50,884 --> 00:57:53,302
America is
expanding rapidly.
752
00:57:59,601 --> 00:58:03,062
Cornelius Vanderbilt's railroads
have united the country,
753
00:58:03,856 --> 00:58:06,357
and commerce now
moves faster than ever.
754
00:58:09,403 --> 00:58:13,030
But America's newest
obsession is light--
755
00:58:14,116 --> 00:58:15,658
clean, safe light.
756
00:58:17,870 --> 00:58:20,788
The kind provided
by John D. Rockefeller.
757
00:58:25,878 --> 00:58:28,004
Oil is changing the world.
758
00:58:28,922 --> 00:58:32,258
And the Ohio refiner
is leading the charge.
759
00:58:34,553 --> 00:58:36,971
- RICHARD PARSONS:
The titans of that day
760
00:58:37,055 --> 00:58:39,599
revolutionized
business in America.
761
00:58:39,683 --> 00:58:43,477
We became the sort of
dominant economic force
762
00:58:43,562 --> 00:58:46,147
in the world because
we could make stuff,
763
00:58:46,231 --> 00:58:48,733
we could create stuff,
we could build stuff,
764
00:58:48,817 --> 00:58:50,192
we could power stuff.
765
00:58:53,947 --> 00:58:56,490
John Rockefeller's
Standard Oil is now
766
00:58:56,575 --> 00:58:59,827
the largest producer of
refined kerosene in the country.
767
00:59:02,915 --> 00:59:05,958
And his exclusive deal
with Vanderbilt allows him
768
00:59:06,043 --> 00:59:09,253
to ship his project to
homes throughout
769
00:59:09,338 --> 00:59:12,590
the country at incredibly
cheap rates.
770
00:59:18,305 --> 00:59:19,722
But for Rockefeller,
771
00:59:21,850 --> 00:59:23,184
it isn't enough.
772
00:59:28,231 --> 00:59:30,650
He's outgrown his
deal with Vanderbilt.
773
00:59:32,235 --> 00:59:35,112
Once unable to fill
Vanderbilt's trains,
774
00:59:36,657 --> 00:59:40,159
now he has more oil than
the Commodore can possibly ship,
775
00:59:41,620 --> 00:59:44,538
and Vanderbilt's
biggest competitor knows it.
776
00:59:48,585 --> 00:59:50,378
Tom Scott is the president
777
00:59:50,462 --> 00:59:53,172
of one of the largest train
lines in the country.
778
00:59:54,841 --> 00:59:56,926
He wants to take
Vanderbilt's place
779
00:59:57,010 --> 01:00:00,846
as King of the Railroads,
and he knows a deal with
780
01:00:00,931 --> 01:00:03,015
Rockefeller is the key.
781
01:00:09,856 --> 01:00:12,483
Scott heads to Cleveland
with his protégé,
782
01:00:13,360 --> 01:00:16,529
a young up-and-comer
named Andrew Carnegie.
783
01:00:18,699 --> 01:00:21,158
As Scott's most
trusted lieutenant,
784
01:00:22,619 --> 01:00:25,121
Carnegie has helped
craft the pitch.
785
01:00:27,666 --> 01:00:29,542
- What's I'm proposing
is an alliance between--
786
01:00:29,626 --> 01:00:32,420
- ROCKEFELLER: You want a cartel
between oil and railroads.
787
01:00:34,006 --> 01:00:35,006
- I prefer to
call it by its--
788
01:00:35,090 --> 01:00:36,507
- Give me the numbers.
789
01:00:39,511 --> 01:00:41,512
- Standard Oil will
receive a forty percent
790
01:00:41,596 --> 01:00:43,597
rebate for every
barrel it ships.
791
01:00:44,683 --> 01:00:46,350
- SCOTT: We'll send
papers over in the morning.
792
01:00:46,435 --> 01:00:47,393
- No.
793
01:00:50,063 --> 01:00:51,564
A verbal contract is fine.
794
01:00:57,362 --> 01:00:59,989
Rockefeller
gets a better deal from Scott
795
01:01:00,073 --> 01:01:02,533
than he ever could've
gotten from Vanderbilt.
796
01:01:10,751 --> 01:01:12,626
- VANDERBILT: The shyster.
797
01:01:17,841 --> 01:01:21,218
The Commodore
has lost his competitive edge.
798
01:01:22,220 --> 01:01:25,139
- J.S. STILES: To the great
frustration of Vanderbilt,
799
01:01:25,223 --> 01:01:26,932
Rockefeller very
skillfully played
800
01:01:27,017 --> 01:01:28,559
those railroads against
each other.
801
01:01:29,394 --> 01:01:31,145
Oil was something
the railroads
802
01:01:31,229 --> 01:01:34,523
couldn't afford to let go,
and so they fought very hard
803
01:01:34,608 --> 01:01:35,858
to get that traffic.
804
01:01:37,944 --> 01:01:40,029
With
the railroads in his pocket,
805
01:01:41,114 --> 01:01:44,075
Rockefeller can supply
every home in the nation
806
01:01:44,159 --> 01:01:45,993
with Standard Oil kerosene,
807
01:01:46,578 --> 01:01:48,537
and with all that profit,
808
01:01:49,206 --> 01:01:52,041
Rockefeller begins to
buy out his competitors.
809
01:01:53,376 --> 01:01:55,753
- ROCKEFELLER: We
need to stand together.
810
01:01:57,047 --> 01:01:59,423
I'm offering all
of you a way out,
811
01:02:00,675 --> 01:02:02,718
so you can hold
your heads high.
812
01:02:03,553 --> 01:02:05,721
The opportunity to sell
to Standard Oil
813
01:02:05,806 --> 01:02:07,598
will be a godsend
to you all.
814
01:02:09,309 --> 01:02:11,602
If you take
Standard Oil stock,
815
01:02:12,437 --> 01:02:15,523
you and your loved ones
will never know want.
816
01:02:19,486 --> 01:02:21,695
His intent is simple:
817
01:02:24,741 --> 01:02:25,699
he wants to own
818
01:02:25,784 --> 01:02:27,827
every refinery in the country.
819
01:02:40,799 --> 01:02:43,759
It's a concept that's been
impossible to execute.
820
01:02:46,429 --> 01:02:49,098
Today, we know it
as a "monopoly".
821
01:02:56,606 --> 01:02:59,650
But Rockefeller isn't just
expanding his company,
822
01:03:02,028 --> 01:03:04,405
he's also looking to
maximize profit--
823
01:03:05,949 --> 01:03:07,408
by any means necessary.
824
01:03:08,201 --> 01:03:09,577
- We've got
another refinery.
825
01:03:11,204 --> 01:03:12,371
One more into the fold.
826
01:03:13,081 --> 01:03:14,665
- Do you want me to
take a look at it?
827
01:03:15,375 --> 01:03:18,210
- No. I want you
to shut it down.
828
01:03:22,507 --> 01:03:24,842
- The business of
creating monopolies,
829
01:03:24,926 --> 01:03:28,262
crushing opposition--
part of me says he did that
830
01:03:28,346 --> 01:03:30,556
because it was
there to be done,
831
01:03:31,683 --> 01:03:33,684
and he could do it better
than anybody else
832
01:03:33,768 --> 01:03:36,020
and he made a bloody
fortune out of it.
833
01:03:41,443 --> 01:03:43,527
By the time
he's finished,
834
01:03:43,612 --> 01:03:45,613
Rockefeller controls
ninety percent
835
01:03:45,697 --> 01:03:47,740
of the North American
oil supply.
836
01:03:50,869 --> 01:03:54,455
His company, Standard Oil,
is the country's first monopoly.
837
01:03:57,292 --> 01:04:00,211
At thirty-three,
the Ohio oil man
838
01:04:02,088 --> 01:04:05,090
is now the most powerful man
in the country.
839
01:04:16,519 --> 01:04:18,854
The Commodore has
created a monster.
840
01:04:21,316 --> 01:04:24,818
He realizes that the only
way to combat Rockefeller
841
01:04:26,446 --> 01:04:29,323
is for the railroads to
start working together.
842
01:04:35,538 --> 01:04:39,083
He forms an unlikely
alliance with his biggest rival,
843
01:04:39,167 --> 01:04:41,460
Tom Scott, and together,
844
01:04:42,170 --> 01:04:45,005
they agree to pull all
of Rockefeller's deals.
845
01:04:59,062 --> 01:05:00,688
- ROCKEFELLER: Thank you.
846
01:05:17,747 --> 01:05:20,416
To Rockefeller, the move
847
01:05:20,500 --> 01:05:24,169
is nothing short
of a declaration of war.
848
01:05:31,970 --> 01:05:35,764
America is emerging as one of
the mightiest nations on earth.
849
01:05:36,766 --> 01:05:39,518
The country is now crowded
with rail lines
850
01:05:41,021 --> 01:05:43,814
and kerosene lights
most homes.
851
01:05:45,567 --> 01:05:49,445
The amazing evolution has
been led by two men driven
852
01:05:49,529 --> 01:05:53,490
by a desire to create a
world that few imagined.
853
01:05:54,951 --> 01:05:58,871
"Commodore" Cornelius Vanderbilt
and John D. Rockefeller
854
01:05:58,955 --> 01:06:01,707
have sparked the modernization
of the country.
855
01:06:03,293 --> 01:06:06,712
But the former partners'
interests are no longer aligned.
856
01:06:09,799 --> 01:06:12,134
Vanderbilt has formed
an unlikely alliance
857
01:06:12,218 --> 01:06:16,180
with Tom Scott, aimed at
forcing their biggest client
858
01:06:16,264 --> 01:06:17,890
to pay going rates.
859
01:06:21,811 --> 01:06:24,021
John Rockefeller sees
their actions
860
01:06:24,105 --> 01:06:25,773
as a declaration of war,
861
01:06:28,693 --> 01:06:30,152
and he's not going down
862
01:06:30,236 --> 01:06:31,403
without a fight.
863
01:06:32,614 --> 01:06:35,616
- H.W. BRAND: John Rockefeller
had the ruthlessness
864
01:06:35,700 --> 01:06:39,328
that sometimes come
from utter conviction
865
01:06:39,412 --> 01:06:44,041
that what he was doing was
right, and not just correct,
866
01:06:44,125 --> 01:06:48,921
but divinely inspired, and
the people who opposed him
867
01:06:49,005 --> 01:06:52,883
weren't really entitled
to their point of view,
868
01:06:52,967 --> 01:06:55,219
because their point
of view was wrong.
869
01:06:59,891 --> 01:07:05,020
It was almost as though they
had turned aside God's grace.
870
01:07:05,105 --> 01:07:08,399
Well, if you turn aside
God's offer of grace,
871
01:07:08,483 --> 01:07:10,484
then expect no mercy.
872
01:07:11,736 --> 01:07:13,362
Rockefeller is
determined to find
873
01:07:13,446 --> 01:07:15,364
another way to
transport his oil.
874
01:07:18,159 --> 01:07:21,328
He knows if he can't,
the railroads will win.
875
01:07:31,047 --> 01:07:33,382
Rockefeller's solution
again comes
876
01:07:33,466 --> 01:07:35,717
from the most unlikely
of places.
877
01:07:36,344 --> 01:07:39,263
- So we can increase the
yield of the kerosene,
878
01:07:39,347 --> 01:07:42,266
but then we get more
of the volatile waste.
879
01:07:43,184 --> 01:07:45,936
We can burn some of it off
as fuel in the refinery,
880
01:07:46,020 --> 01:07:48,981
but its high flammability
creates a storage problem.
881
01:07:57,657 --> 01:07:59,158
When we get to higher
temperatures
882
01:07:59,242 --> 01:08:01,618
we can start creating
the lubing oils.
883
01:08:07,292 --> 01:08:09,710
I'll need to reconfigure
the refinery.
884
01:08:16,384 --> 01:08:20,762
Oil in the refinery
is moved using large pipes,
885
01:08:20,847 --> 01:08:24,391
and Rockefeller realizes
if those pipes can transport
886
01:08:24,476 --> 01:08:26,560
oil over
short distances,
887
01:08:27,353 --> 01:08:30,189
they could also be used
over longer distances.
888
01:08:33,234 --> 01:08:36,111
If Rockefeller can build
a pipeline large enough,
889
01:08:37,405 --> 01:08:39,406
he'll be able to cut
the railroads
890
01:08:39,491 --> 01:08:42,326
out of the oil business,
for good.
891
01:09:24,827 --> 01:09:27,579
The pipeline will require
a massive investment,
892
01:09:27,664 --> 01:09:29,081
and incredible risk.
893
01:09:29,916 --> 01:09:32,543
But if he gets it right,
Rockefeller will be able
894
01:09:32,627 --> 01:09:35,837
to do what he loves
to do most, win.
895
01:09:37,757 --> 01:09:40,551
- It probably comes early
in an entrepreneur's life
896
01:09:40,635 --> 01:09:42,177
where you realize you're
willing to do things
897
01:09:42,262 --> 01:09:46,056
in the business world that other
people aren't willing to do.
898
01:09:46,516 --> 01:09:49,434
Everybody has got ideas,
and everybody's got
899
01:09:49,519 --> 01:09:52,312
ambitions, but most people
aren't willing
900
01:09:52,397 --> 01:09:55,107
to cross that line, and
I think an entrepreneur
901
01:09:55,191 --> 01:09:57,442
that's successful,
that's your nature.
902
01:09:57,527 --> 01:10:00,028
Wherever there's change,
wherever there's uncertainty,
903
01:10:00,113 --> 01:10:01,446
there's opportunity.
904
01:10:34,272 --> 01:10:36,982
Rockefeller's
workers labor around the clock--
905
01:10:38,776 --> 01:10:41,403
--blasting
through the countryside,
906
01:10:41,487 --> 01:10:44,615
and laying over a mile and
a half of pipeline every day.
907
01:10:46,117 --> 01:10:47,743
- JACK WELCH:
Business, in the end,
908
01:10:47,827 --> 01:10:49,828
is understanding
the playing field.
909
01:10:50,204 --> 01:10:52,873
Tell me who's on it,
what their strengths are,
910
01:10:52,957 --> 01:10:56,376
what their weaknesses are,
and what is your checkmate play,
911
01:10:57,003 --> 01:10:58,962
to top 'em, and nail 'em.
912
01:10:59,672 --> 01:11:02,841
And so you're always in
that competitive game.
913
01:11:02,925 --> 01:11:04,760
You're looking
at innovation.
914
01:11:04,844 --> 01:11:07,137
You're looking
at leap-frogging,
915
01:11:07,221 --> 01:11:09,097
trying to get
ahead of them.
916
01:11:09,182 --> 01:11:10,849
You're never complacent.
917
01:11:10,933 --> 01:11:14,061
You're semi-paranoid
about what they're doing.
918
01:11:14,729 --> 01:11:16,605
That's what the
game is all about.
919
01:11:17,774 --> 01:11:20,233
By the time the
pipeline is complete,
920
01:11:20,318 --> 01:11:22,361
it's over four
thousand miles long,
921
01:11:23,071 --> 01:11:25,989
stretching across
Ohio and Pennsylvania,
922
01:11:26,074 --> 01:11:28,367
and connecting thousands
of the world's most
923
01:11:28,451 --> 01:11:33,413
lucrative oil wells directly
to Rockefeller's refineries.
924
01:11:38,086 --> 01:11:40,754
John Rockefeller has
finally found his way
925
01:11:40,838 --> 01:11:43,882
to eliminate the railroads
from the oil business,
926
01:11:43,966 --> 01:11:47,260
and in the process, he's
forever revolutionized
927
01:11:47,345 --> 01:11:49,763
the way oil is transported.
928
01:11:59,816 --> 01:12:03,068
For twenty-five
years, the railroads have been
929
01:12:03,152 --> 01:12:05,612
the biggest industry
in the country,
930
01:12:05,697 --> 01:12:07,989
the backbone of the
American economy.
931
01:12:09,575 --> 01:12:14,663
No one has ever had the nerve
to take them on, until now.
932
01:12:17,041 --> 01:12:19,209
Rockefeller knows
that without his oil,
933
01:12:20,962 --> 01:12:23,463
the railroads will
struggle to stay alive.
934
01:12:30,096 --> 01:12:32,347
It's a colossal blow
to the industry,
935
01:12:33,182 --> 01:12:34,891
and with all
that leverage,
936
01:12:34,976 --> 01:12:37,978
Rockefeller has Vanderbilt
and the railroads
937
01:12:38,062 --> 01:12:39,730
right where he wants them.
938
01:12:51,284 --> 01:12:53,827
The United States of
America is changing
939
01:12:53,911 --> 01:12:55,162
like never before.
940
01:12:56,205 --> 01:12:58,457
In just a decade, the
country has become
941
01:12:58,541 --> 01:13:00,584
one of the most advanced
on earth,
942
01:13:01,502 --> 01:13:04,463
and darkness no longer
means the end of the day.
943
01:13:05,840 --> 01:13:08,592
Two men have driven this
remaking of the country.
944
01:13:11,179 --> 01:13:14,264
John D. Rockefeller and
Cornelius Vanderbilt
945
01:13:14,348 --> 01:13:16,391
are locked in a
battle of wills.
946
01:13:20,688 --> 01:13:21,813
- Commodore.
947
01:13:21,898 --> 01:13:23,273
- Mr. Rockefeller.
948
01:13:25,943 --> 01:13:28,653
Vanderbilt and his
competitors are in drastic
949
01:13:28,738 --> 01:13:32,073
search of passengers and
cargo to fill the trains
950
01:13:32,158 --> 01:13:33,867
running on their lines.
951
01:13:33,951 --> 01:13:36,745
- In the 1870s, the
country needed to be connected
952
01:13:36,829 --> 01:13:38,830
via railroads,
and what happens
953
01:13:38,915 --> 01:13:43,126
then is everybody who thinks
they have an edge
954
01:13:43,211 --> 01:13:46,129
in the railroad business goes
out and raises money
955
01:13:46,214 --> 01:13:48,548
and they start
their own railroad.
956
01:13:48,633 --> 01:13:50,759
And what happened then
is we've seen happen
957
01:13:50,843 --> 01:13:54,429
many of times since then, is
it created a huge bubble.
958
01:13:54,514 --> 01:13:56,556
John D. Rockefeller's oil
959
01:13:56,641 --> 01:13:58,058
makes up nearly forty percent
960
01:13:58,142 --> 01:14:00,393
of the cargo shipped
on the rails.
961
01:14:02,480 --> 01:14:05,190
But when Vanderbilt teams
with his biggest rival
962
01:14:05,274 --> 01:14:08,151
to push for a rate increase,
Rockefeller takes it
963
01:14:08,236 --> 01:14:10,320
as a declaration of war.
964
01:14:12,698 --> 01:14:15,116
He builds a pipeline
in response,
965
01:14:16,494 --> 01:14:18,537
and begins to pull
his shipments.
966
01:14:19,580 --> 01:14:22,749
And since the railroads
have been drastically overbuilt,
967
01:14:22,834 --> 01:14:25,043
losing cargo
means losing money.
968
01:14:26,671 --> 01:14:29,589
Stocks plummet as
investors run scared.
969
01:14:31,133 --> 01:14:33,343
- When prices get
out of control,
970
01:14:33,427 --> 01:14:35,262
and smart people decide,
971
01:14:35,346 --> 01:14:38,640
"Wow, this thing is a bubble,
I want out",
972
01:14:38,724 --> 01:14:41,351
then you can get a
collapse very quickly.
973
01:14:59,245 --> 01:15:02,122
By the time the
Panic is through,
974
01:15:02,206 --> 01:15:06,084
one-third of the country's
360 railroad companies
975
01:15:06,168 --> 01:15:07,627
have gone bankrupt.
976
01:15:09,213 --> 01:15:11,840
- ALAN GREENSPAN: Every
crisis of this type,
977
01:15:11,924 --> 01:15:14,134
whether it's 2008,
978
01:15:14,802 --> 01:15:17,596
or 1873,
979
01:15:18,264 --> 01:15:19,681
has got the same roots.
980
01:15:20,308 --> 01:15:23,184
Namely, that it
was unanticipated.
981
01:15:23,728 --> 01:15:28,023
So a necessary condition for a
crisis is nobody expects it.
982
01:15:29,984 --> 01:15:32,569
The crash
is the worst America has seen
983
01:15:32,653 --> 01:15:33,987
in its short history.
984
01:15:36,490 --> 01:15:39,242
Unsure how to prevent
a complete collapse,
985
01:15:39,327 --> 01:15:43,330
the stock exchange shuts
down and stays closed
986
01:15:43,414 --> 01:15:45,290
for ten straight days.
987
01:15:50,087 --> 01:15:52,339
- H.W. BRAND: The Panic of
1873 triggered
988
01:15:52,423 --> 01:15:56,051
the first full-blown national
depression,
989
01:15:56,135 --> 01:15:58,511
and nobody quite knew
what to do about it.
990
01:16:09,857 --> 01:16:13,485
For the first time,
large--very large--
991
01:16:13,569 --> 01:16:16,363
numbers ofAmerican workers
were without jobs.
992
01:16:23,955 --> 01:16:26,581
Workers got laid
off, but the owners,
993
01:16:26,666 --> 01:16:28,249
they still lived
in the style
994
01:16:28,334 --> 01:16:30,085
that they were
accustomed to.
995
01:16:32,088 --> 01:16:35,256
But no one was shedding any
tears for John D. Rockefeller.
996
01:16:37,802 --> 01:16:39,970
People were saving their
tears for themselves,
997
01:16:40,054 --> 01:16:42,013
when they found
themselves out of work,
998
01:16:42,098 --> 01:16:44,724
out of their homes, out
of food, out of hope.
999
01:16:53,526 --> 01:16:56,069
While many
of the biggest companies
1000
01:16:56,153 --> 01:16:58,196
in the country
struggle to survive,
1001
01:16:58,280 --> 01:17:00,573
Rockefeller sees opportunity,
1002
01:17:02,576 --> 01:17:05,704
his belief in the survival
of the fittest kicking in.
1003
01:17:08,708 --> 01:17:10,792
As his competition
collapses,
1004
01:17:10,876 --> 01:17:12,961
Rockefeller
picks them off,
1005
01:17:13,754 --> 01:17:16,798
buying out bankrupt oil
companies for next to nothing.
1006
01:17:17,842 --> 01:17:19,718
- DONALD TRUMP: I find
that I do better in bad markets.
1007
01:17:19,802 --> 01:17:21,553
I buy things
in bad markets.
1008
01:17:21,637 --> 01:17:24,097
And, you can't do that
in a great economy.
1009
01:17:24,181 --> 01:17:25,181
You can't buy it.
1010
01:17:25,266 --> 01:17:27,350
Either you're gonna buy it
very expensively
1011
01:17:27,435 --> 01:17:29,019
or not be able to buy
it at all.
1012
01:17:29,103 --> 01:17:31,146
So there's a lot of
opportunity, I find,
1013
01:17:31,230 --> 01:17:32,397
in the bad times.
1014
01:17:33,024 --> 01:17:35,233
By the time the
depression is through,
1015
01:17:35,317 --> 01:17:36,568
Rockefeller has created
1016
01:17:36,652 --> 01:17:39,362
the largest corporate empire
in America.
1017
01:17:41,115 --> 01:17:44,325
- H.W. BRAND: He was playing
the game of industry,
1018
01:17:44,410 --> 01:17:47,454
and he was simply better
at it than everybody else.
1019
01:17:48,039 --> 01:17:50,915
He saw the industrial
marketplace
1020
01:17:51,417 --> 01:17:53,918
as a place for the survival
of the fittest,
1021
01:17:54,003 --> 01:17:56,337
and he was fitter
than anybody else,
1022
01:17:56,422 --> 01:17:57,672
therefore he survived.
1023
01:17:57,757 --> 01:18:00,008
Not only that, therefore
he deserved to survive,
1024
01:18:00,092 --> 01:18:01,426
and they didn't.
1025
01:18:08,893 --> 01:18:11,561
While Rockefeller
expands his company,
1026
01:18:11,645 --> 01:18:13,521
his adversaries
at the railroads
1027
01:18:13,606 --> 01:18:15,231
are struggling to survive.
1028
01:18:16,817 --> 01:18:19,819
Then, at the height
of the depression,
1029
01:18:19,904 --> 01:18:22,447
the king of the
American railroads,
1030
01:18:22,531 --> 01:18:24,240
Cornelius Vanderbilt,
1031
01:18:25,910 --> 01:18:28,244
dies, at the age of 82.
1032
01:18:31,332 --> 01:18:33,374
Vanderbilt leaves
his empire,
1033
01:18:33,459 --> 01:18:35,794
worth over one hundred
million dollars,
1034
01:18:35,878 --> 01:18:37,629
to his son, William.
1035
01:18:41,300 --> 01:18:44,094
Rockefeller knows that
without Vanderbilt,
1036
01:18:44,178 --> 01:18:46,971
he would've never been
able to build his empire.
1037
01:18:59,151 --> 01:19:02,070
But Rockefeller's
last remaining adversaries
1038
01:19:02,154 --> 01:19:04,322
refuse to go down
without a fight.
1039
01:19:05,116 --> 01:19:08,243
Tom Scott, and his
protégé, Andrew Carnegie,
1040
01:19:08,327 --> 01:19:10,161
have managed to survive.
1041
01:19:10,579 --> 01:19:12,997
And since Rockefeller's
pipeline doesn't extend
1042
01:19:13,082 --> 01:19:16,501
to Pittsburgh, he's forced
to continue to use their trains.
1043
01:19:17,711 --> 01:19:21,422
But Scott knows if he and
Carnegie don't diversify,
1044
01:19:21,507 --> 01:19:22,966
they won't survive.
1045
01:19:33,144 --> 01:19:35,353
Scott devises an
aggressive plan
1046
01:19:35,437 --> 01:19:36,896
to expand his empire.
1047
01:19:39,233 --> 01:19:42,152
One that's sure to catch
Rockefeller's attention.
1048
01:19:45,364 --> 01:19:47,615
He's going to break
into the oil business
1049
01:19:48,242 --> 01:19:50,952
by building a pipeline
of his own.
1050
01:20:00,796 --> 01:20:02,839
But if there's one thing
John Rockefeller
1051
01:20:02,923 --> 01:20:06,342
hates more than anything
else, it's competition.
1052
01:20:09,471 --> 01:20:11,806
Tom Scott is in for war.
1053
01:20:17,188 --> 01:20:20,231
- ROCKEFELLER: I've tried to be
friendly to the Pennsylvania.
1054
01:20:22,568 --> 01:20:25,028
I've given you plenty
of business, have I not?
1055
01:20:25,112 --> 01:20:27,780
And now, I find that
you're invading my field.
1056
01:20:29,700 --> 01:20:31,284
And that, my
friend, is piracy.
1057
01:20:36,165 --> 01:20:38,249
- We'll take your
feelings into account,
1058
01:20:38,334 --> 01:20:39,417
Mr. Rockefeller.
1059
01:20:41,462 --> 01:20:44,088
- Two thirds of the oil
you carry comes from me.
1060
01:20:44,924 --> 01:20:48,384
If you don't retreat, I'll take
it to the other railroads.
1061
01:20:51,764 --> 01:20:54,057
- As far as I'm aware,
there isn't another railroad
1062
01:20:54,141 --> 01:20:56,392
that runs from
Pittsburgh to New York.
1063
01:21:17,581 --> 01:21:20,792
America's growth
after the Civil War is driven
1064
01:21:20,876 --> 01:21:22,919
by railroads uniting
the country,
1065
01:21:25,756 --> 01:21:27,715
and oil lighting the way.
1066
01:21:29,677 --> 01:21:31,970
No one has capitalized
on the growth
1067
01:21:32,054 --> 01:21:33,930
more than
John D. Rockefeller,
1068
01:21:35,015 --> 01:21:37,308
who now
controls ninety percent
1069
01:21:37,393 --> 01:21:38,977
of the U.S oil market.
1070
01:21:48,028 --> 01:21:50,530
With the death of
Cornelius Vanderbilt,
1071
01:21:50,614 --> 01:21:53,825
only one man stands in
the way of Rockefeller's
1072
01:21:53,909 --> 01:21:55,618
complete control of oil,
1073
01:21:59,540 --> 01:22:00,498
Tom Scott.
1074
01:22:03,043 --> 01:22:06,087
- H.W. BRAND: There was a sort
of mutual admiration
1075
01:22:06,171 --> 01:22:09,465
among the big capitalists, but
it was an admiration
1076
01:22:09,550 --> 01:22:12,343
that was accompanied
by deep suspicion.
1077
01:22:12,720 --> 01:22:18,016
The big capitalists of the
day eyed each other very warily.
1078
01:22:18,517 --> 01:22:21,602
Rockefeller looked
on Tom Scott,
1079
01:22:22,229 --> 01:22:25,398
of the Penn Railroad,
as a competitor.
1080
01:22:27,943 --> 01:22:30,653
Tom Scott's trains
transport oil to
1081
01:22:30,738 --> 01:22:33,823
and from Rockefeller's
refineries in Pittsburgh,
1082
01:22:33,907 --> 01:22:36,617
where the Standard Oil
pipeline doesn't reach.
1083
01:22:39,121 --> 01:22:41,706
With all that leverage,
Scott is confident
1084
01:22:41,790 --> 01:22:45,043
he has the ammunition to
take on Rockefeller.
1085
01:22:50,424 --> 01:22:53,718
But Rockefeller isn't one
to back down from a fight.
1086
01:22:59,266 --> 01:23:01,392
- I don't want one drop
of our oil traveling
1087
01:23:01,477 --> 01:23:02,477
on the Pennsylvania.
1088
01:23:02,561 --> 01:23:05,521
- But what about
the Pittsburgh refineries?
1089
01:23:05,606 --> 01:23:07,065
- Shut them down.
1090
01:23:12,863 --> 01:23:15,323
Shutting down
his refineries will cost
1091
01:23:15,407 --> 01:23:17,867
Standard Oil a fortune
in lost revenue,
1092
01:23:19,453 --> 01:23:22,330
but for Rockefeller,
crushing his competition
1093
01:23:22,414 --> 01:23:24,499
matters more than
anything else.
1094
01:23:29,046 --> 01:23:32,757
Without Rockefeller's oil,
Scott loses nearly
1095
01:23:32,841 --> 01:23:34,258
half of his business,
1096
01:23:37,596 --> 01:23:38,971
forcing him to lay off
1097
01:23:39,056 --> 01:23:42,892
tens of thousands of workers,
and drastically cut wages.
1098
01:23:46,480 --> 01:23:49,315
Those workers take to
the streets in protest.
1099
01:23:54,113 --> 01:23:56,322
And as darkness
falls on Pittsburgh,
1100
01:23:57,282 --> 01:23:58,491
they turn violent.
1101
01:24:01,161 --> 01:24:04,705
A fire is set
in Tom Scott's train yards.
1102
01:24:20,264 --> 01:24:22,056
Before
the night is over,
1103
01:24:22,141 --> 01:24:24,016
more than thirty-nine
buildings
1104
01:24:24,101 --> 01:24:26,602
and over twelve hundred
train cars are destroyed.
1105
01:24:35,112 --> 01:24:38,030
Tom Scott's company
lays in ruin.
1106
01:24:43,287 --> 01:24:45,496
- H.W. BRAND: This is how
capitalism works.
1107
01:24:45,581 --> 01:24:48,541
The railroads had been
the big suppliers
1108
01:24:48,625 --> 01:24:50,668
of transportation in
the oil industry,
1109
01:24:50,752 --> 01:24:52,879
and so the railroads
quite naturally resisted.
1110
01:24:54,965 --> 01:24:57,425
They dug in their heels
whenever they could.
1111
01:24:58,594 --> 01:25:00,052
Eventually they lost.
1112
01:25:24,703 --> 01:25:25,703
- Come on.
1113
01:25:29,917 --> 01:25:30,917
Let's go.
1114
01:25:43,597 --> 01:25:45,765
John D. Rockefeller
1115
01:25:45,849 --> 01:25:48,226
has replaced
Cornelius Vanderbilt
1116
01:25:48,310 --> 01:25:50,394
as the richest
man in America.
1117
01:25:53,232 --> 01:25:56,859
His net worth is now
over $150 million,
1118
01:25:59,696 --> 01:26:02,657
or $225 billion today.
1119
01:26:04,034 --> 01:26:06,327
- JOHN D. ROCKEFELLER IV:
It's dazzlingly amazing
1120
01:26:06,411 --> 01:26:09,997
that one individual was able to
corner about ninety-eight
1121
01:26:10,082 --> 01:26:13,709
percent of all the
kerosene and eventually
1122
01:26:13,794 --> 01:26:15,670
all production
in the world.
1123
01:26:15,754 --> 01:26:18,297
He was a brilliant
business person.
1124
01:26:18,382 --> 01:26:20,716
I can only give him
credit for that.
1125
01:26:20,801 --> 01:26:24,637
I don't have to give
him credit for
1126
01:26:24,721 --> 01:26:28,307
the way that he became
that powerful.
1127
01:26:31,103 --> 01:26:33,938
But all titans are targets.
1128
01:26:35,649 --> 01:26:38,651
And now Rockefeller is
about to come face to face
1129
01:26:41,280 --> 01:26:43,573
with his biggest
challenge ever.
88407
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