2 How do both Rockefeller and Edison attempt to eliminate co

2. How do both Rockefeller and Edison attempt to eliminate competition?

Solution

Both Rockefeller and Edison had threats from competitors. Rockefeller\'s threat was electricity which he feared would eliminate the use of Oil. He was one of the wealthiest man in history and he recorded wealth by trading oil. Once electricity started to take over oil he started advertising the ill-effects of electricity but later with no option he had to find an alternative means to expand his business and trade. He tried to tried to find a use for an oil refining byproduct - gasoline. Further in order to save his business and face competition he had his men create internal combustion engines. Rockefeller used this strategy to eliminate competition and sustain his business.

Edison was backfired by people due to lack of knowledge in electricity. Edison wanted to promote that AC was dangerous and thus he invented an electric chair and wanted to help people understand that AC was dangerous but later he found that People started viewing Edison as killer and not the AC current. So Edison was shouldered with the responsibility of making people understand the concept of electricity. In order to rule out competition they had to face the public directly and find out alternate means for sustainance.