David Rosenthal: belief

Transcript context

…Or a paradigm shift. I'm referring to electricity and lights in houses, but they very quickly were saved by the fact that conveniently, right around the same time, any thirst that we had for oil before once you have the car, Rockefeller got so much richer in his retirement from his shares of Standard Oil. Which became the things that powered us moving around the country in cars than he ever got from kerosene. It’s like a paradigm shift could have disrupted and did disrupt the core kerosene business, but the thing that happened at the same time was so much bigger than anything they ever could have imagined. I think that Standard was also making some investments into electricity and electrical utilities. I don't know how deep they got into the business. But all I'm saying is, monopolies—even if you don't trust bust them—are always at risk of being disrupted by a paradigm shift.…

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