Founders · Jan 23The Autobiography of Andrew Carnegie
Each partner put in $1,250, and the firm refused to build any bridge it knew was too weak, so nothing ever happened to a Keystone bridge. It made its own iron and later steel, an early case of vertical integration.
Tips
- Carnegie's Keystone Bridge Works refused to build any bridge it knew was unsafe▶ 41:48Nothing ever happened to a Keystone bridge, which Carnegie called a true secret of success.
- Carnegie bought, partnered with or took over any supplier he needed to control his process▶ 41:05The host notes this vertical integration became even more pronounced in Carnegie's steel business a decade or so later.
- Carnegie spotted iron bridges while working at the Pennsylvania Railroad and started a company▶ 39:14The host says Jay Gould spotted telegraph opportunities and Peter Thiel spotted Palantir while working at other jobs: copy the how, not the what.
