Evidence receipt / belief
Published · transcript-backedBen Gilbert: belief
22 Sept 2021 Acquired Standard Oil Part I
“I haven't rigorously looked at each one, but I think Standard Oil—at various points in its first 20–25 years of existence—exerted every single one of these, but the domineering one, the one that enabled them to do everything that they did was scale economies.”
Source trail
Everything needed to verify it.
- Speaker
- Ben Gilbert
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 22 Sept 2021
- Publisher
- Acquired
- Episode
- Standard Oil Part I
Transcript context
…Power. Okay, so what are power categories here? As Hamilton Helmer would put forth in his wonderful book, 7 Powers—counter positioning, scale economies, switching costs, network economies, process power, branding, and cornered resources. I haven't rigorously looked at each one, but I think Standard Oil—at various points in its first 20–25 years of existence—exerted every single one of these, but the domineering one, the one that enabled them to do everything that they did was scale economies. No argument from me on scale economies being the most important one here. Literally, that was all the machinations with the competitors, with getting the volume in the Lakeshore deal, and with doing the deals with the railroads. It was all about economies of scale for sure. What's your thought on counter positioning?…
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