previously on The Men Who Built America the country has bounced back from a long Civil War and is now stronger than ever Cornelius Vanderbilt used brute force and intimidation to build a railroad Empire that unites the country John D Rockefeller Rose from humble beginnings and with complete confidence and ruthlessness created a total Monopoly of the oil [Music] industry then a new product transformed the American landscape I am convinced that steel is the future and thanks to Andrew Carnegie's steel America's cities now reach the sky nothing's impossible but after his name is linked to one of
the worst disasters in American history Carnegie's Empire begins to fray his chairman Henry Frick pushes his workers to the breaking point causing them to fight back all those in favor of striking raise your hands barricading Carnegie Steel's Flagship plant and when Frick decides to take it back by force fire an attempt is made on his life Mr [Music] Frick Andrew carnegi is forced to rethink everything [Music] when I got to Memphis put my baby down he said I can't take you to heaven I can't save your soul I can't promise forever [Applause] [Music] my in
your hand I can't [Music] feel feel my [Music] soul with his chairman shot and his workers rebelling Andrew Carnegie's back is against the wall his company and his reputation are under threat and the Empire he spent a lifetime building is on the verge of collapse hoping to salvage his legacy Carnegie Cuts short his trip abroad and returns to Pittsburgh [Music] Henry Frick survives the attempt on his [Music] life only 3 days after being shot and stabbed he's back in his office at Carnegie Steel [Music] Frick's brush with death only strengthens his resolve but for his
boss Andrew Carnegie it's a reminder that his chairman is a liability there came a time when Frick thought to himself I'm running this business I'm the one in Pittsburgh I'm the one working the 12-hour days I'm the one taking the bullet in the head I deserve to be number one Carnegie's relationship with Frick deteriorates and he realizes he needs to make a change carnegi isn't happy he whispers to newspaper reporters in Pittsburgh that if he had been around it would have been different that there wouldn't have been this Bloodshed that he had more respect for
the workers and he undercuts Frick but Frick refuses to accept any responsibility outrage that Carnegie has hung him out to dry he even goes behind his back and attempts to orchestrate a hostile [Music] takeover Carnegie steel is eroding from the inside out but the biggest challenge to Carnegie's Empire isn't coming from [Music] within a new threat is emerging JP Morgan is a banker who's made a fortune consolidating broken Industries buying out failing companies and returning them to profitability companies like Carnegie steel you look at JP Morgan the way he controlled the banking system basically there
was one man who just literally dominated the banking industry and essentially dominated financing in the country Morgan most recently Consolidated parts of the broken railroad industry making them profitable by eliminating unnecessary competition my survive we'll win this war you want to come to war I've heard enough this is what's going to happen there's going to be an end to this war the Morgan Bank will buy the West Shore and lease it to the central it'll also buy the central stake in the South Pennsylvania in exchange for share and other railroads he excelled at taking Waring
parties who were destroying an industry and bringing peace on terms that was suitable to them profitable to him and which gave him leverage in the business itself anyone who knew anything about him realized that like him or not he got things [Music] done due to Frick's callousness Andrew Arie fears he might become Morgan's next Target he makes a bold move one that's become all but [Music] inevitable Andrew Henry how are you fine good the board of managers met yesterday I was unaware the board has decided that it's best if carnegi steel invokes the provision of
their agreement with you [Music] you will have to surrender your interest in the company you will of course receive full compensation at Book value here again as Carnegie struggles to repair his broken Empire JP Morgan continues to Target failing companies working alongside his legendary father Junius Morgan is the founder of one of the world world's first modern investment Banks a financial Empire that will come to be known as the house of Morgan JP Morgan was born into the banking business his father was one of the first generation of transatlantic bankers and as a result he
identified Finance as the industry that was going to command all other Industries from the time he could count JP is taught that there's only one way to do business the Morgan way investing other people's money to make a fortune for yourself I will return tonight see that these accounts Balan by then [Music] Morgan's father had a controlling presence Junius really didn't sort of take his eye off Morgan for so many years it was very difficult for him to Bear go ahead open it now pick it up feel the weight you know what that is that's
what it feels like to hold a million dollars now Learn to Earn It Yourself JP Morgan's strained relationship with his father continues and by age 40 he's looking to create an identity of his own is all this furniture really necessary that painting's 400 years old yes sir I didn't see why you feel the need to pillage Europe of its art I bought a few paintings father not a whole Gallery the bank of England have asked me to handle their next bond issue so I'm assuming you're accompanying me back to London I have plenty of work
to do here just remember where our loyalties lie peran I'll try not to [Music] forget let me know how you get on I'll leave you in peace to arrange your paintings JP Morgan understood the game and at some point he realized that as successful as his father had been he could become even more successful Morgan's father always taught him to avoid taking big risks but JP Morgan is tired of doing things his father's way he doesn't want to Simply buy businesses he wants to build them from the ground up he's watched as John Rockefeller and
Andrew Carnegie have built Empires from nothing and he wants to be next but to do that Morgan needs to find an innovation to call his own he sets his sights on one of the world's most famous inventors Thomas Edison has been a renowned innovator since the age of 19 he first made his name by perfecting the telegraph before going on to invent the stock ticker and the phonograph in his lifetime Edison will secure over 1,000 patents but now at 31 Edison is on the verge of his greatest Innovation [Music] yet Edison had that unique ability
to sort of look at this thing then figure out how to use it in a way that no one had thought of to use it before [Music] so this is where genius resides genius is eternal patience Michelangelo one invention catches Morgan's eye the light bulb and the electricity that powers it a stream of invisible energy that heat tiny filaments in the bulb that like magic make them Glow Electric Light will revolutionize the world like Fire or the wheel it will transform human existence JP Morgan sees the potential in the Revolutionary new technology ology immediately and
knows it's his chance to create his own legacy one that will change the world forever as the turn of the 20th century approaches America is the most rapidly growing country on Earth rail oil and steel have driven the expansion but a new technology is emerging that may be even more powerful electricity has the potential to completely change the world and JP Morgan sees it as something he can own most people are too busy looking on the outside to really check what their barometers say inside so as an entrepreneur if you look inside you'll find things
that they all need that could become immensely popular if someone had the courage to promote it or to build [Music] it for years JP Morgan has lived in the long shadow of his legendary father he's desperate for a way to make his own mark and electricity might be [Music] it Morgan is considering an investment in Thomas Edison's company and his newly developed electric light bulb he hires Edison to install electric lighting in his home on Fifth Avenue in New York sometimes you've got to take ownership they call it eating your own dog food right if
you aren't willing to use your own product then how is anybody else going to trust it and have confidence you know some people might call that being a showman I call it demonstrating trust in your product which any smart business has to do the Morgan home quickly turns into a laboratory for Thomas Edison's famous electric experiments Edison installs a small power plant in a shed on Morgan's property he then runs 4,000 ft of wiring through the walls and ceilings of the house and installs nearly 400 electric light bulbs some of the first to ever be
manufactured after months of trial and [Music] error the home is ready to be displayed when I believe in something and I want to sell it to somebody I want to put it in the best life light I don't just package it I creatively package [Music] it Morgan invites many including his father to see the Marvel of electric lighting for the first time knowing the demonstration will put him at the Forefront of a new industry ladies and gentlemen Behold The Miracle of modern science the gas lamp is dead long live the electric [Applause] [Music] [Applause] light
every light you see is powered by electricity there is no gas no oil no flame just a invisible stream of energy electricity was viewed as something miraculous and people were amazed first of all they didn't understand how it worked because you can't see electricity and so it was viewed as something almost magical by most people JP Morgan's home is the first private residence in the world to be lit with electricity well father what do you think you disappoint me P Pond I thought you knew better this is the future This Is The Stuff of carnivals
and fairs and you've been played for a fool despite his father's disappointment Morgan's event is a success you're about to become a very busy man Darius Ogden Mills want you to Electrify his home I'll have to wait the Vanderbilt family is next on my list electricity becomes a musthave for the country's Elite with one notable exception John D [Music] Rockefeller Rockefeller has created the largest fortune in America by refining oil for kerosene lamps he realizes electric light has the potential to replace kerosene as America's primary light source if the tech technology goes mainstream Rockefeller will
face his biggest challenge ever following the success of his home Lighting Display Morgan believes that electricity could be the opportunity he's been waiting for his chance to control a new business from its start and become a Pioneer like Carnegie and Rockefeller but investing in Edison goes against everything JP Morgan's father has ever taught him you have to be able to take risk you can't have greatness in anything without putting it on the line otherwise everybody would have it if there was no apparent loss if there was no chance of tremendous failure or tremendous setback you
can't have the [Music] upside to what do I owe the pleasure Mr Morgan there's a noise in the basement It's upsetting my wife it's the generator I'll send someone around to soundproof it [Music] you disappoint me pant I thought you knew better this is the future This Is The Stuff of car and fairs and he been played for a fool how much competition do you have Edison nothing worthy of note you know if you could help me raise money to install a central power station there' be no need to have a generator in your basement
I could power anything within a half mile radius what would it take to light all the homes in New York City I'd need a network of power stations what would the cost be I'll have to go through my figures bring them to me Monday morning that model train set powered by electricity yes I want one for my daughter's birthday next week for Morgan the potential reward is too [Music] great against his father's advice he invests everything in electricity determined to create his own legacy even if it means going against everything he's ever been [Music] taught
America is undergoing amazing changes steel is building futuristic cities of unimaginable height and kerosene is lighting homes across the country but a magical whole new innovation is emerging and JP Morgan is determined to bring it to the world electricity has captured the Public's imagination but the technology is still unproven and virtually unused but partnered with Thomas Edison JP Morgan is convinced he can bring electricity to the entire country there is no success without risk-taking and I think that is actually what distinguishes the captains of industry from others Morgan gives Edison what amounts to $83 million
today and together they form a new business the Edison Electric Light [Music] Company funding Edison is a huge risk for Morgan and goes against everything his father taught [Music] him for years Morgan was instructed to avoid investing in new and unproven industries but where his father sees risk JP Morgan sees opportunity I think what's great about the truly transformative inventions and the entrepreneurial ideas that really end up having a significant impact is they start relatively small and most people don't quite understand even what you're talking about and they take some time before they get traction
but eventually they break through and the impact's far broader than anybody you could have imagined Morgan and Edison Get Right to Work transforming a building in lower Manhattan into the world's first Central Power Station a high-tech wonder filled with massive generators capable of lighting thousands of homes the idea was that from this Central Station would flow all this direct current but it also meant that it had to be transmitted the future of electricity wasn't just illumination it was power and power required transmission over long distance Edison's workers Labor Day and Night digging a network of
ditches over 15 M long they lay over 100,000 ft of thick copper wire connecting Edison's Power Station to hundreds of homes and businesses throughout New York Edison's power grid becomes the model for how electricity is transmitted in the United States he had never worked so long and so hard at any invention to make it functional as he did with electricity with Edison's Power Station up and running a new era Dawns the city lights up for the first time ever and soon Edison's power grid covers half of Manhattan electric street lights line Avenues and homes throughout
New York are buzzing with [Music] electricity Edison had a big think approach which said that we can build giant distribution centers and make it so that electricity is cheap enough for the masses what a brilliant idea JP Morgan and Thomas Edison stand to make a fortune but their success is bad news for the most powerful man in the country until now John Rockefeller has been virtually unchallenged while providing light to homes from coast to coast but as Edison's power grid expands over a greater and greater area he realizes his kerosene Empire is at risk every
home Edison wires with electricity is a lost customer for John Rockefeller the great Titans of the late 1800s La Rockefeller they tended to be very ruthless they were interested in dominating the market and moved in every way they could to get as big a chunk of the market as they could in order to ensure their own profits the Industrials of that time are naked capitalists they absolutely want to get rich and wanted to build something that lasted Rockefeller wanted Standard Oil to be the greatest Oil Company in the [Music] world Rockefeller launches a targeted PR
campaign against electricity painting the new technology as dangerous even deadly he warns of mass electrocutions and outof control fires Rockefeller knows if he can frighten the public kerosene will continue to be the dominant light source I am not a good enemy I'm a terrible enemy so if you screw around me or you hurt me I want to hurt you back now that doesn't mean physically but I will in the end win because I'm a winner and I don't lose but John D Rockefeller is about to become the least of Morgan's problems a new competitor emerges
ladies and gentlemen Nicola Tesla a war over the future of electricity is coming and JP Morgan could be the first casualty America's explosive change transforms the world's view of the country where many once saw failure Innovation is now leading the nation into a new age railroads oil and steel have rebuilt the country and electricity is creating unimagined advances [Music] JP Morgan's attempt to unseat John D Rockefeller as the man lighting America has led him to partner with Thomas Edison to form one of the first electric companies and together they're electrifying homes throughout New York the
inventions the things that literally almost come out of nowhere require incredible vision and support from leaders ERS ship because those are big leaps if a leader doesn't take that invention and really embrace it and own it it won't happen Morgan has gone against his father's advice by backing Edison but he's maintained one of the rules he's learned how much competition do you have Edison nothing worthy of note Edison is ignoring what's potentially the biggest challenge to his design for for electricity and it comes from inside his own lab his Apprentice Nicola Tesla Nicola Tesla from
a very young age was obsessed with electricity and when he first meets Thomas Edison initially he worships him Mr Edison sir what is it I was wondering if you had chance to look at my AC motor design nobody's interested in your design Tesla alternating current is not safe which is why we use direct current Tesla has developed a new form of electricity known as alternating current or AC but Edison believes that higher voltage AC is more dangerous than the direct current electric standard he's pioneered I think Edison probably saw Tesla as a junior employee I
mean remember Edison is world famous and Tesla is just one of many very bright young men who work for him and the fact that he's pushing AC is no big deal to Edison because Edison sees himself as the person who's really solved this problem and and made it [Music] commercial what's this my resignation you won't find anybody else to employ you I'll set up my own company good luck finding an investor now free to pursue his own ideas Tesla begins looking for an investor to back his AC technology he finds one an inventor turned businessman
George Westinghouse the magnetic field when it moves it carries the motor around motor powers itself how far do you think you can take AC I mean what is its potential build one power plant can supply enough electricity to eastern part of United States that's amazing Morgan and Edison may have lit up New York but Westinghouse and Tesla believe alternating currents greater power is more effective thank you and they set out to prove it good luck Nicola thank you Mr Westinghouse ladies and Gentlemen please welcome the new Wizard of electricity Nicola Tesla my first demonstration is
for those amongst you who fear that AC and high voltage will make the world unsafe [Applause] Tesla travels the country showing AC pulsing through him the successful demonstrations have orders for Westinghouse power stations pouring in people who understood the science of electricity realized that Tesla was a new Giant and a significant rival [Music] JP Morgan suddenly finds himself in an unfamiliar position I thought you didn't have any competition none that are worthy of note I have just seen the drawings and descriptions of an electrical machine lately patented by Mr Tesla which will revolutionize the world's
electrical business AC has a very high voltage and is lethal a young boy touched a straggling wire and was killed instantly you sir you have DC running through your home none of your family are at risk Edison I see that the electrical industry has two competing systems right now AC and DC this world has room for only one of them JP Morgan is staking everything on Thomas Edison but as the battle to Electrify the nation heats up the pressure Morgan puts on Edison sends him down a dark path [Music] America's advancement in the last three
decades is staggering railroads have replaced Wagon Trails to unite the nation and the country's cities Stand Tall on Steel first kerosene transformed the night and now electricity is about to light homes from coast to coast only John D Rockefeller isn't about to let JP Morgan and Thomas Edison put him out of business he's determined to keep kerosene the leader in the light game he begins a campaign to stop electricity before it gains traction though he may underestimate the draw of this magical new [Applause] power JP Morgan has more to worry about than Rockefeller Morgan's father
always told him to avoid competition at all costs and now he and Thomas Edison are locked in a heated battle over what will become the dominant form of electricity Nicola Tesla has developed a whole new way to transmit electricity and his technology threatens to destroy everything Morgan and Edison have built the electrical industry has two competing systems right now AC and DC this world has room for only one of them if Morgan loses he risks ruining his reputation and his name Morgan ratchets up the pressure on Edison telling him to take out the competition in
any way he can JP Moran was really an extraordinary character he was Steely eyed determined very smart and somebody who had that characteristic I will take charge and he did feeling the pressure from Morgan Edison sets out on a mission to prove his direct current is the safest form of electricity the war of the electric currents is the Dark Side of Thomas Edison the tactic that Edison took was to persuade people that alternating current was the killer current it is a side of Edison we don't normally see he begins using Tesla's alternating current in a
series of demonstrations hoping to scare the public about AC's power Edison used all sorts of dirty tricks to try to discredit AC he killed animals before an [Music] [Music] audience but nothing seems to be slowing the enthusiasm for Tesla's stronger [Music] current growing ever more desperate to please Morgan Edison is relieved when a letter arrives that could be his opportunity a New York state prison has been looking to replace hanging as a means of execution many have come to believe that the medieval method is cruel and inhumane electricity could provide a useful alternative the design
Edison envisions is simple yet [Music] groundbreaking Edison became very happy to help develop an electric chair as long as that electric chair used Westinghouse alternating current generators Edison devotes his lab's attention to the development of the world's first electric chair it's the perfect opportunity to prove that Tesla's AC is dangerous even [Music] deadly the prison invites the press to witness the most Sensational demonstration imaginable the world's first human execution by electricity [Music] [Music] is it ready yes goodbye William [Music] he's dead he's bleeding he's breeding [Music] I'm going to be sick they then essentially roasted
this man alive it was a botched execution the gruesome act backfires on Edison the public doesn't connect AC to Tesla all they remember is that electricity was used to kill a man and that Edison was behind [Music] it the damage to his reputation is massive and JP Morgan endures an even worse fate now I have to in the newspaper my son is funding Edison a Latter Day Frankenstein he didn't pull the switch let me make a few points clear to you I do not want the house of Morgan associated with electricity or any of the
devil's works I've spent my entire life making a name and I'm not about to let you destroy I have a chance to build it's over I set sale for Monaco tomorrow while I'm away see to it that you sell whatever Stakes you have in these Edison companies Morgan set out to become a legend AR innovator in his own right but now his dream has come crashing down Edison has played directly into John rockefeller's hands demonstrating electricity to be dangerous and deadly Morgan knows that pulling his funds from Edison would completely destroy the electric industry and
leave Rockefeller at the top of the light [Music] game but despite his father's objections Morgan is still convinced that electricity is the future and soon news of a new project reignites his Ambitions a project that will remove the stain of Edison's experiments and restore the Public's trust in the electric industry electricity is about to go National a company at Niagara Falls has begun work on one of the most ambitious construction projects ever [Music] undertaken the world's largest power plant is being built and 1300 men are digging a massive tunnel 2 and 1/2 mil into [Music]
Bedrock once complete the raw power of the falls will generate a mindboggling 120,000 horsepower more than all the electricity being produced throughout the country combined Niagara is a watershed in the history of the electric industry it shows that it is not only feasible but practical to transmit electricity over distance the Niagara power station will be capable of generating enough electricity to light the entire Northeast to take such a incredibly famous place that's got this extraordinary water power and harness it to electricity was going to make the case to the world this was something you could
do everywhere but the Niagara power company hasn't yet decided who will power the generators Morgan and Edison's DC or Tesla's AC the world's biggest power station would be a huge game changer JP Morgan knows it's his opportunity to create the Empire he's always wanted but he also knows that getting the contract to power Niagara would require a massive investment one his father would never allow Morgan agonizes over his next move until tragedy strikes sir [Music] his father has been in a horrible Carriage crash Junius Morgan dies as a result of his [Music] injuries JP is
now left in charge of the House of Morgan [Music] the Empire includes a vast portfolio of businesses invested in railroads real estate shipping manufacturing and electricity with his father gone nothing is holding Morgan back when Junius died it was TR really a devastating moment for Morgan but also ended up being a bit of a relief because after his father's death he really came into his own the freedom really helped him realize his full potential in some ways Morgan's net worth more than quadruples and instantly he has hundreds of millions of dollars [Music] money he plans
on using to win the Niagara contract the best time to buy is when there's blood on the streets not sure I follow you it's advice Lord Roth's child gave my father it's advice he never took I'm increasing my investment to 4 million I'll give you an extra million dollars in cash to pursue other projects that shouldn't be a problem good the Niagara Falls power company is inviting bid for the new Niagara Falls Central Power Station they haven't yet decided if they want to go with AC or DC I want you to prepare a bid Edison
this is now a race you better win 30 years of unparalleled growth have made America one of the world's most powerful countries Coast to Coast travel artificial light and skyscrapers now dot the landscape men like Vanderbilt [Music] Carnegie and Rockefeller have made fortunes building modern America and now JP Morgan is hoping to join them by bringing a revolutionary new technology to the masses but Morgan's attempt to build the world's leading Electric Company is being challenged while he's backing Thomas Edison's direct current George Westinghouse and Nicola Tesla are developing a different standard alternating current as the
competition heats up the opportunity to operate the Niagara Falls Power Station reignites Morgan's Ambitions he knows that whoever controls Niagara Falls will control the future of electricity [Music] timing is everything in business everybody wants to be the first mover everybody wants to be on the bleeding edge or The Cutting Edge you have to be on the pulse of the moment timing in business just like timing in life is perhaps as important as any other single Factor construction of the Niagara power station is continuing at a blistering Pace workmen are almost finished with a 2 and
1/2 mile long tunnel and it won't be long until water shoots through it powering turbines the size of houses those turbines will generate enough electricity to light up the entire Northeast [Music] Morgan knows that to win the contract he'll need to eliminate the [Music] competition Tesla and Westinghouse are making Headway with alternating current but after the company's rapid expansion Westinghouse is drowning in debt and and his business is struggling to stay afloat JP Morgan sees an opportunity to take advantage of his [Music] vulnerability japing Morgan was a huge power on the stock market when it
was not at all regulated in the case of George westing house his company on a number of occasions was assaulted on the stock market by Morgan [Music] entities Morgan capitalizes on a downturn in the economy launching a smear campaign designed to trigger a selloff of Westinghouse stock what is to be done about the Panic there's no need to panic Mr Morgan are we on the verge of depression not if we act wisely how many more companies will go bus Mr Morgan the only companies at risk are those vast expanding Capital intensive debtrid Ventures thank you
[Music] gentlemen Morgan's remarks are subtle but his influence on on Wall Street is so great their effect is devastating over the next few weeks investors sell off Westinghouse stock sending the company into a tail spin within days it's almost bankrupt you get successful at something and all of a sudden you make a lot of money and the world says you're successful there's no margin of failure anymore there's only degrees of success with Westinghouse driven into debt Morgan is convinced there's no longer any competition to win the contract for Niagara unable to raise additional funds Westinghouse
is ready to admit defeat Tesla the reason I'm here is to tell you that uh my company's on the verge of bankruptcy you have my AC motor design you can raise more money it's the opposite nobody will lend me money because of the royalty deal on your patent benefits that will come to civilization from my polyface system will mean more to me the money involved Mr Westinghouse you will save your company to develop my invention this is my contract and I will tear it to pieces and you will no longer have any troubles from my
royalties thank you Nicola Tesla gives Westinghouse control of AC and foros all claim to his patents Investments soon pour in and Westinghouse electric is viable again Westinghouse knows that to beat Morgan he needs a bold move [Music] and soon he has the perfect opportunity Chicago is about to host one of the globe's landmark events the World's Fair organizers want it to be the most stunning display of Technology ever seen they decide to light the entire event using electricity the managers and creators of the Chicago world spere of 1893 want to have an entirely Electric City
they want to be cutting edge they invite companies to bid on this contract to Electrify the fair Morgan assumes that he and Edison are a lock to light the fair but Westinghouse has other plans he drastically underbids the project claiming he can like light the fair for less than a quarter of what Morgan and Edison have bid the Bold move secures the contract and Westinghouse and Tesla immediately get to work wiring the fairgrounds and finally on opening night with the eyes of the world on Chicago they flip the switch and instantly over 200,000 light bulbs
come to [Music] life 27 million people came to this fair and saw an electrified world and that had a huge huge impact in spreading this technology people realized that there was a whole electrical future coming it's a display unlike any the world has ever seen and it's all powered using George Westinghouse and Nicholas the Tesla's alternating current electricity the fair forever demonstrates the safety and viability of [Music] AC Westinghouse and Tesla's incredible display has another consequence a decision is made on who will power the Niagara Falls station two letters go out but only one man
can win the contract America is now the most technologically advanced Nation on the planet trains oil and steel have built the country and the newest sensation is electric light showcased at the Chicago World's Fair electricity is about to go National but a battle has broken out pitting JP Morgan and Thomas Edison against George Westinghouse and Nicola Tesla in a fight for control of the world's largest power plant at Niagra Falls if you're really trying to not just create a company but create a new industry and change the world in a fundamental way and you really
need to believe in the idea and stick with it through thick and thin because it's going to be a tough road JP Morgan has invested millions in the electric industry hoping to replace John D Rockefeller as the man lighting America and the Niagara power plant could give him control over the future of electricity [Music] whoever wins this contract is going to be the preeminent Electrical Company not just in America but the [Music] world the plant at Niagara Falls reaches a decision and two letters [Music] out but there can only be one [Music] winner in a
shocking twist George Westinghouse wins the contract for the power station you always want to be in the winning locker room you don't want to be in the losers locker room with a towel around your head JP Morgan has been badly defeated his dream of building an industry from the ground up is over his attempt to make his own name ruined this is the stuff of carnivals and fairs and he been played for a fool he realizes his father may have been right all [Music] along but never willing to admit defeat JP Morgan immediately sees a
way to turn failure into opportunity JP Morgan made a mistake backing Thomas Edison I mean they all make mistakes and I always say that you have to guard against the downside because it can be the greatest deal you've ever seen and there is a chance that that deal won't work out don't let a deal like that take you down if it doesn't work Morgan is determined to gain control of the electric industry and he's going to do it the Morgan way if you were on his bad side or he coveted your company or the technology
that your company had you did not want to be in that position Morgan returns to the lessons of his father he's going to intimidate the competition into submission he starts his attack back by going after Westinghouse and everything he owns including Tesla's AC electricity patents congratulations Westinghouse I hear you won the nagra Falls contract I'll be taking you to court for patent infringement over AC designs why would you start a legal case that will cost Millions a case that you will lose because you don't have the resources to fight such a case and you'll go
under what is it you want you know the answer to [Music] that my first demonstration is for those amongst you who fear Westinghouse has no choice but to give in to Morgan's demands knowing that the cost of a lawsuit will put him out of business he's forced to sign over the patents for Tesla's AC electricity but Morgan doesn't stop with Westinghouse with the loss of the Niagara contract the company Morgan started with Thomas Edison is broken and Edison's DC electricity looks like a failure Thomas Edison is probably the most brilliant inventor America ever had and
like many brilliant men he was capable of spectacularly wrong choices as far as Morgan's concerned there's only one way to fix Edison Electric he's going to streamline the company and his first step is to eliminate Thomas Edison [Music] Morgan buys up additional shares of Edison Electric stock until he has complete control of the company it's a device that shows moving pictures we'll put the Niagara business behind us and Edison General Electric will move forward to greater things the name of the company's been changed to General Electric but it's my company surely I have a say
not anymore you no longer have a majority [Music] stake Morgan's new electric company General Electric is instantly one of the most powerful corporations on Earth valued at $50 million or the modern equivalent of over 1 [Music] billion with Edison out of the way Morgan converts the company to AC electricity the standard that's still used today with General Electric you could tell they were building a big company and a something that was really going to change the world they were really trying to position it in the marketplace as a significant lasting [Music] company General Electric will
go on to become one of America's biggest corporations the players change the stakes change but the essence of the game stays the [Music] same whether it's understanding who it is that you have to kind of massage who it is you got to knock on the head who it is you have to buy off to do this that's the game with the creation of GE JP Morgan has Consolidated the electric industry just like he did with the railroads and Wall Street it's a move he learned from his father a move JP Morgan has now made his
own there's always a reason why you can't do something but if deep inside you it's what you want very badly you take chances you measure opportunity and get where you want to go JP Morgan joins Rockefeller and Carnegie as one of the most powerful men in the [Music] country but Morgan's rapid rise to the top makes him hungrier than [Music] ever and as his power grows his Rivals are forced to adjust America is the fastest growing country on the planet linked by railroads fueled by oil and built on steel the nation has become a Battleground
for a magical new innovation electricity is transforming the world and with General Electric JP Morgan is the uncontested leader in the industry using his millions to build power stations from coast to coast bringing electricity to the masses for the first first time entrepreneurs who want to change the world want to have a significant impact don't want to just build a company they want to build an industry don't want to just create another product or service they really want to fundamentally improve aspects of of people's lives but JP Morgan doesn't want to be confined to just
one industry he wants to own them all as the head of the biggest Investment Bank in the world Morgan has unrivaled power and influence and he's returned to his old ways only now he's taken the house of Morgan to another level Morgan's reach was very Broad in American industry he becomes the most respected reliable and trusted figure not only because of the power and wealth that he wields but just because of his character after a 2-year depression the US Treasury has come perilously close to bankruptcy and there's only one man the government can turn to
JP Morgan is called to Washington to help we think of Bankers now as just greedy bangster gangsters uh Morgan was maybe one of the greediest of all but he also had this side of him which just said I have faith in men I have faith in country and I am going to lend it Morgan puts together a loan worth over $100 million almost 3 billion today and bails out the federal government saving the American economy from complete collapse JP Morgan was really the country's Banker today when you think of that it's inconceivable but he would
loan the country money when the country was in trouble Morgan obviously was looking at the national interest in the context of his own that is saving the US Treasury was an act of basic self-interest but it was an act of nationalism Morgan's Newfound power is a huge wakeup call to his rivals they see Morgan as a threat they need to deal with before he deals with them John Rockefeller feels the pressure to keep his Empire intact like never before despite his best efforts to stop it in its tracks electricity has gone mainstream the people started
these great companies they just think out Solutions on their own to problems you don't do it the way it's been done before that's in a book you go out and you try something new because you think it that you'll be able to make it work to keep Standard Oil profitable Rockefeller needs to find a product to replace kerosene and the answer may have been in front of him the entire [Music] time at just over 100° you get a mixture of alkanes sadly can't be used for anything why not too volatile [Music] [Music] Rockefeller targets a
byproduct of refining oil that for years has been thrown away the highly flammable runoff is soaking fields and polluting Rivers the toxic substance is called gasoline and so far no one has figured out a use for it often times I'm ask do you have to be ruthless to be very successful and I say you do not have to be ruthless you have to be smart smart is the key word you have to be smart Rockefeller hires a team of scientists to try to find a use for the toxic substance first they create small products like
synthetic beeswax and petroleum jelly but Rockefeller becomes convinced gasoline has a bigger potential the quest to create a more powerful motor leads to the development of the internal combustion engine the exact properties that make gasoline so dangerous also make it the perfect fuel to power this engine we always looking for the next innovation the next Niche the next product Improvement the next service improvement you're always trying to get better the timing is perfect for Rockefeller already in possession of the world's largest supply of gasoline he starts using gasoline powered engines to run machines in his
refineries the efficiency and power of the engine quickly make it the standard in factories across the country but when the engine is put on wheels creating what's being called the Horseless Carriage Rockefeller realizes that gasoline could be even bigger than kerosene but right when Rockefeller sees the future of the oil industry no man can earn a million dollars honestly an outside threat emerges I will tear down these rusts who could destroy everything he and his Rivals have built do you hear me Carnegie do you hear me Rockefeller as the 20th century approaches JP Morgan and
John Rockefeller have been locked in a battle pitting electricity against kerosene their rival Andrew Carnegie has stayed out of the fry he's been quietly building his steel Empire bigger than ever including Landing lucrative contracts with the US Navy to provide steel for warships making him one of the country's First Defense contractors the great business icons it's not that they were worth hundreds of millions or billions or trillions of dollars is that they moved Society forward whatever their motivations whatever it was they being here and their Lust For Success for power for money for fame moved
us forward but now JP Morgan is about to take business to a whole new level he begins looking for other ways to make money building on his father's business model he creates a tactic that's so Innovative it becomes known as morganization morganization in effect means taking companies that were fighting each other bringing them together and managing the company in such a way that competition is reduced profits are increased in other words trying to impose order on these fiercely competitive Industries Morgan starts restructuring companies in Industries across the country firing workers and eliminating inefficiencies while prioritizing
profits over everything else and soon Morgan's Rivals adopt the same approach the private sector greed ambition dreamers the stuff of entrepreneurs look at it too closely you may not admire it as much as you do after the fact Carnegie and Rockefeller begin morganize their own companies maximizing profits by slashing their Workforce those who still have a job are forced to work longer hours for even less pay what we saw during this golden age of capitalism was the unregulated side of capitalism that make us feel these days glad for federal government because no one else was
keeping an eye on things conditions for workers across the country become almost unbearable as going to work for many Americans becomes a dangerous proposition you had a working class or even the unemployed who had a very hard time of it uh they had low-paying jobs uh if any at all in this period uh a little bit above starvation wages many of them so there's a growing disparity of wealth in this period that was very striking what people Define as Haves and Have Not Super Rich hedge fund guys and people just trying to pay their mortgage
is still still nowhere near what was going on in the old days as far as you know truly abusive conditions for workers the gap between the rich and the poor continues to grow at a staggering rate while the working class struggles profits for Carnegie Morgan and Rockefeller are better than ever to million of workers around the country the titans of Industry have become a symbol of everything wrong with America a seething undercurrent of anger takes hold one that quickly bubbles to the [Music] surface with an election year on the horizon a politician from Nebraska is
channeling The public's frustrations HS I will tear down those trusts and directing them right at America's richest men do you hear me Carnegie do you hear me Rockefeller William Jennings Brian is an upand cominging political force who's drawing huge crowds vowing to put an end to the country's monopolies but Brian's promise of change is bad news for the leaders of American Business [Music] to many people it seemed as though big money big corporations in the biggest of all Standard Oil were taking over the country from this emerged the Progressive Movement and a major part of
its platform was Anti-Trust legislation not just legislation but Anti-Trust prosecution Rockefeller Carnegie and Morgan have built entire industries from the ground up they're not about to let a charismatic politician destroy their [Music] Empires but public opinion is solidifying against them and as Brian begins a campaign for the White House the Titans know that stopping him won't be easy UNR they devise a plan so bold no one has ever attempted it before there's only one problem to be successful they can't work alone for the first time America's most powerful men will have to put their rivalries
aside and start working together what do you think we need to buy the president they've battled each other for decades but now the country's biggest Titans have no choice but to unite in a pivotal election Rockefeller Carnegie and Morgan join forces to ensure the White House will bend to their [Music] will I'll will make sure he'll be Arman in the White House and as they continue to amass their fortunes congratulations Carnegie you're now the richest man in the world a legendary innovator from a new generation transforms the country the Ford motorc car is the first
car affordable for the common man ushering in a whole new era [Music] and due to an unlikely turn of events I Theodore Roosevelt do solemnly swear the Titans face their toughest challenge yet the United States versus standard oil is now in [Music] session e
