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The First Tycoon: The Epic Life of Cornelius Vanderbilt
Download The First Tycoon: The Epic Life of Cornelius Vanderbilt
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Product details
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Audible Audiobook
Listening Length: 28 hours and 45 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Random House Audio
Audible.com Release Date: April 21, 2009
Whispersync for Voice: Ready
Language: English, English
ASIN: B0027A3FZI
Amazon Best Sellers Rank:
A great biography of a major American business leader. Cornelius rose to become one of the wealthiest men in the United States by the time of his death. He began in a family of very modest means. Step by step, he rose into the highest echelon of American entrepreneurs.At the outset of his working life, he was just another employee. But, with time, hard work, and some luck, he developed a presence in the ferry boat business in the New York City area. Early on, he found a benefactor--and in this manner became a modest player in the great Supreme Court decision--Gibbons v. Ogden which struck down monopoly contracts between states and the shipping/passenger water industry. He began to develop a greater presence in steamboats and shipping. This eventually led him to operate transatlantic ships and transportation from the east coast to California--with an overland link through Nicaragua.Even as he was at his peak in the steamboat business, he turned his interest to railroads, which had become a major sector in the United States business galaxy. By his death, he had accumulated massive wealth. The book does an excellent job in providing details of the evolution of his business career--as well as his private life.Among issues discussed that are worth considering: while he could play hardball in the business world (his Wall Street machinations are well described), he also developed efficiencies in his businesses leading him to be able to deliver good service at a lower cost than his competitors. This is fascinating in that many major businessmen used their position in the market to increase prices and increase profits. Poignant are some of the challenges faced bu his family, such as a son who was a gambling addict.Overall, a wonderful telling of the tale of Cornelius Vanderbilt, the "admiral."
This impressive biography of Cornelius Vanderbilt is more than a biography. The reader can trace the development of American economic history from 1800-1875 through the life of Vanderbilt. Hamilton wanted government directly involved in the nation’s economy. From Jefferson up to the Civil War, the strong trend was to remove the federal government from the economy and open the door to individual freedom to innovate and compete. This allowed Vanderbilt, probably one of the most resourceful and clever capitalist entrepreneurs who has ever lived, the freedom to start with a Staten Island ferry that would eventually lead to one of the most massive accumulations of personal wealth and control of capital enterprises of all time. Ironically, the freedom that the Jeffersonians and Jacksonians wanted led to the massive control of the economy not by the government but by incredibly wealthy individuals and corporations.Stiles’ biography is an enormously detailed book. It becomes increasingly technical in the economic sense as Vanderbilt moves from steamboats (and his fascinating adventures in Nicaragua) to railroads. Stiles should get enormous credit not only for his superb research, much better than earlier biographers of Vanderbilt, but also for his objectivity about the man and his ability to make as clear as possible to the average reader the often complex financial issues of Vanderbilt’s life. It is easy to see why this book won awards. Stiles not only gives us a man’s life (both personal life and business life) but how the American economic system developed in the 19th century.Stiles is also a smooth writer. Chapters are divided into reasonable chunks separated by double spacing and the transitions and paragraph structures throughout the book are fluent and easy to follow. If I have any complaint (and it is a small one), it is that many many times Stiles ends these chapter subdivisions with either a cliffhanger sentence or some other “catch†line for the sake of dramatic continuity. This is unnecessary given the overall power of the book and Vanderbilt’s life. Except for that quibble, the book is a biographical tour de force that showed me not just the life of a brilliant, often cold, but complex man but also how the economic history of America as we know it today originated.
Yes, he was the first tycoon, but what's more important is that this is a story about a man who started with nothing and built his wealth with very hard work. This is the story of early America, which is made up of people from other countries who came to this country to make a life in the new world. Vanderbilt's life started with very little education - he had dropped out of school at an early age. Yet his thinking process throughout his life is equivalent to what we would expect from someone with an MBA. He used common sense and long-term thinking whenever he made decisions. What did it cost him to make his millions? Mostly his family paid for his success. He worked constantly. But he figured out how to come out ahead of his competitors. He even figured out how to get across Central America to reach the Pacific Ocean from the Atlantic without going around South America. He realized that this shortcut would allow him to get items to California so much quicker; definitely quicker than going across country, which could also be quite dangerous. This biography does an excellent job of describing how he built his success on boats and ships and finished with railroads. It also does an excellent job of describing how he related to other people, including his family members. He wasn't necessarily well liked, but when you finish reading the book, you have to have some respect for the man and his methods and how he built an empire from absolutely nothing. It's a very long book, but every page had so much to say and well worth all the words used to tell the story. I've always thought of the Vanderbilt's through the Biltmore Mansion in Asheville, NC, and Vanderbilt University in Nashville, TN, but this was only part of the end of his life - there was so much more to the man.
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