Evidence receipt / belief
Published · transcript-backedDavid Rosenthal: belief
22 Sept 2021 Acquired Standard Oil Part I
“Things go okay, but they have some losses. They actually had to bring in a third partner (I think) in 1860 to shore up some losses and bring more capital into the firm.”
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
…Wasn't Rockefeller finding ways to borrow from Devil Bill. Devil Bill definitely had his sticky fingers in all this that is for sure. Things go okay, but they have some losses. They actually had to bring in a third partner (I think) in 1860 to shore up some losses and bring more capital into the firm. Just to put a point on that, the reason the capital is so important is they basically need to have enough on hand to make the purchases and then hold the inventory until they can go and sell it. There's a cash flow cycle there that they need to have enough capital to be able to manage that cash flow cycle.…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.