Evidence receipt / belief
Published · transcript-backedDavid Rosenthal: belief
22 Sept 2021 Acquired Standard Oil Part I
“I think the question that we wanted to ask on grading is, Standard Oil becoming a monopoly in this way versus if the industry were to have played out with the unfettered individual competition.”
Source trail
Everything needed to verify it.
- Speaker
- David Rosenthal
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 22 Sept 2021
- Publisher
- Acquired
- Episode
- Standard Oil Part I
Transcript context
…No, because the data source we pulled this from had dividends differently. Let's assume that Standard Oil's revenue represented something like 1% of America’s GDP. Probably a little bit shy, but something like that. I think that is the right way to frame the amount of money that was flowing through this one company at the time. Wow. That is a significant scale. I think the question that we wanted to ask on grading is, Standard Oil becoming a monopoly in this way versus if the industry were to have played out with the unfettered individual competition. Which, of course, is a counterfactual that we have no idea, but how can we get a sense of what the shape of that could have looked like?…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.