Vanderbilt: The Impact Of Technological Innovation

313 Words2 Pages
One impact of technological innovations is the transcontinental railroad and the advancement in railroad businesses thanks to Cornelius Vanderbilt. Due to the power of Vanderbilt he nearly transformed transportation as they knew it. Vanderbilt had many railroads going all over the country and so much power over the railroad business. He ran a monopoly on the railroad industry while still having some competition. Vanderbilt had bought out every competitor he had and thought himself unstoppable, till one day some people at the stock market created and created "fake" stocks in a certain rail company. When he found this out he was furious and took it out on the stock industry. Then later came the oil companies lead by John D. Rockefeller and
Open Document