Business History
History
About
It’s the history of business. How did Hitler’s favorite car become synonymous with hippies? What got Thomas Edison tangled up with the electric chair? Did someone murder the guy who invented the movies? Former Planet Money hosts Jacob Goldstein and Robert Smith examine the surprising stories of businesses big and small and find out what you can learn from those who founded them.
Episodes
- Did "Neutron" Jack Welch Nuke GE?
Jack Welch, nicknamed "Neutron Jack," was named "Manager of the Century" in 1999. During his 20 years as CEO, he transformed General Electric into the world's largest company, focusing on profitability while also establishing GE Capital an…
- The Widow Who Ruled the Champagne World
Barbe-Nicole Clicquot overcame business challenges in Napoleonic France, using a loophole for widows to run companies. She established the Veuve Clicquot brand, introducing innovations that transformed the Champagne industry.
- The Business of Staying Young and Living Forever (with Kara Swisher)
Tech billionaires are funding research into longevity and scientific ways to beat aging and death. Kara Swisher joins hosts to discuss the longevity business, covering topics from ancient practices to DNA editing and personal views on deat…
- Sinking the Global Economy: The Lloyds of London Story Part II
This episode covers the 1980s history of Lloyds of London, which insured everything from satellites to celebrities. Facing unprecedented claims and operating on unlimited liability, the company's financial stability was threatened, potenti…
- The Insurers Who ALWAYS Paid Out: The Lloyds of London Story Part I
This episode traces the founding of Lloyd's of London from a 17th-century coffee shop to a major marine and general insurer. It highlights their unique principle of paying policyholders in full, regardless of policy terms.
- Betting on Taylor Swift or Who'll Be Made Pope: The Past and Present of Prediction Markets
This episode explores the history and practice of prediction markets, comparing modern platforms like Kalshi and Polymarket to historical examples ranging from Papal conclaves to government initiatives. It discusses the evolution and contr…
- Bowie, McCartney & Michael Jackson: How Songwriters Learned to Play Hardball
Songwriters formed ASCAP to gain royalties, leading to a music rights war with radio stations. This established songs as financial assets, setting the stage for disputes like the one between Paul McCartney and Michael Jackson, and David Bo…
- How GM Beat Ford
This episode details how General Motors, formed by consolidating various auto companies, challenged Ford's dominance. GM adopted a strategy inspired by fashion, creating more stylish cars than the Ford Model T.
- Henry Ford Invented the Modern World... Then Got Left Behind
This episode explores Henry Ford's development of streamlined production techniques that made the Model T affordable and influenced modern consumerism. It also examines how Ford's later refusal to adapt to changing consumer preferences led…
- War, Exploration and Beer: How the Tin Can Changed the World
The tin can, invented in Napoleonic France, revolutionized food preservation, combating malnutrition and starvation. Its history involves feeding armies, supporting exploration, and making wholesome food accessible, despite its origins inv…
- The War on The A&P: When America Decided Cheap Groceries Were "Evil"
The A&P grocery chain fundamentally changed American food retail by offering branded goods at low prices, making food more accessible. Despite its success in providing affordable groceries, the company faced significant opposition and lega…
- When E.T. the Extra-Terrestrial Tanked Atari
Nolan Bushnell revolutionized gaming by creating Pong and Atari's home console. However, a poorly executed E.T. game, rushed for release, led to Atari's financial collapse.
- How a Bad Boss Kickstarted Silicon Valley
William Shockley, a Nobel Prize-winning electronics genius, was a terrible boss. His cruel and paranoid management style led his brilliant young engineers to quit and start their own company, inventing silicon chips and ultimately transfor…
- Sears: Cocaine Wine, Shotguns, and the World’s Tallest Tower
The Business History episode "Sears: Cocaine Wine, Shotguns, and the World’s Tallest Tower" details the rise of Sears & Roebuck from a pocket watch business to a vast catalog and retail empire that offered unprecedented shopping access to…
- De-Nazifying the Love Bug: The VW Beetle Story Part II
Part II of The VW Beetle Story details the factory's recovery after WWII bombing and arrests. It covers the car's transformation into a global hit through significant political and economic changes, with contributions from a British office…
- Hitler's Gift to the Hippies: The VW Beetle Story Part I
This episode details the history of the VW Beetle, a car conceived by Adolf Hitler as the 'People's Car' to motorize Germany, which ultimately became an icon of the 1960s counterculture, favored by hippies and surfers. The narrative touche…
- How Jim Simons Built a Machine That Beat the Market
Jim Simons, a former academic mathematician and code breaker, founded Renaissance Technologies by developing machine learning algorithms to exploit market discrepancies. The firm achieved extraordinary profits, raising questions about the…
- Old Warren Buffett: "Never Invest in a Business You Cannot Understand"
This episode explores Warren Buffett's journey in the 1980s, his challenges with the dot com bubble and tech stocks, and considers Berkshire Hathaway's future in the AI era.
- Young Warren Buffett: How to Find Value No One Else Can See
This episode details the early life of Warren Buffett, focusing on his childhood habits of information collection and his teenage practice of analyzing business accounts to identify undervalued companies, tracing his path to becoming a ren…
- How to Make Billions When the Bubble Bursts: Lessons from 1929
This episode examines Jesse Livermore's dominance in the unregulated stock market of the early 20th century, his success betting against the market, and his experience during the 1929 crash.
- The Man who Sued Major League Baseball (Rather than go to Philly)
The Business History episode details Curt Flood's challenge to Major League Baseball's reserve clause. A star player, he sued MLB arguing players should be free to sell their labor, a fight that impacted his career and the future of sports.
- Edison and the Movie Murder Mystery (The Edison Story Part 3)
This episode of Business History investigates the 1890 disappearance of Louis Le Prince, the inventor of the movie camera. His wife suspected Thomas Edison of orchestrating his murder to eliminate competition in the race to develop moving…
- Edison, Tesla and the Electric Chair (The Edison Story Part 2)
This episode details Thomas Edison's creation of the power grid and his fierce opposition to alternating current, which involved him in the first electric chair case. It highlights how Edison's direct current system transformed modern life.
- The Edison Invention People Don't Talk About (The Edison Story Part 1)
This episode of Business History focuses on Thomas Alva Edison, exploring his invention of modern research and development. Hosts Jacob Goldstein and Robert Smith trace his life and significant contributions to areas like electric power, c…
- The Secret of Southwest's Success: Free Whisky, Hot Pants and Low, Low Fares
Business History discusses Southwest Airlines' long-term profitability, driven by unique strategies such as free whisky and low fares, and examines the eventual decline of its successful business model.
- Coming Soon: Business History with Robert Smith and Jacob Goldstein
Robert Smith and Jacob Goldstein host "Business History," a new show exploring fascinating stories from the business world, including innovations, entrepreneurs, and financial lessons. The show premieres on November 5.