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When Rockefeller Turned The Tables
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Key takeaways
- He ended up overpaying for the business.
- And the business owner of the oil refinery laughed at him, and kind of laughed his way to the bank.
Chapters
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Abschnitt 1 John Rockefeller, when he was early on in his oil empire, bid to buy the biggest oil refinery in Cincinnati.
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00John Rockefeller, when he was early on in his oil empire, bid to buy the biggest oil refinery in Cincinnati. And he was the second biggest. He ended up overpaying for the business. And the business owner of the oil refinery laughed at him, and kind of laughed his way to the bank. He's like, you completely overpaid for this thing. And so then what John D. Rockefeller did, after he bought the first biggest, and he already had the second biggest, is that he then was able to say he was the biggest. And then in the next 30 days, he did over 20 deals in the next 30 days to consolidate the entire rest of the market because he became the gorilla.