Business History will be back on July 22nd - but here's an episode from another Pushkin Industries show we're sure you''ll enjoy, Cautionary Tales.

A giant chemical plant near the small village of Flixborough, England, is busy churning out a key ingredient of nylon 6, a material used in everything from stockings to toothbrushes to electronics. When a reactor vessel fails, the engineers improvise a quick-fix workaround, so the plant can keep up with demand. Before long, the temporary patch - a small, bent pipe - becomes a permanent part of the factory, and the people of Flixborough unknowingly drift towards disaster.

Listen to more Cautionary Tales whenever you get your podcasts. 

Business History will be back on July 22nd - but here's an episode from another Pushkin Industries show we're sure you''ll enjoy, Cautionary Tales.
A giant chemical plant near the small village of Flixborough, England, is busy churning out a key ingredient of nylon 6, a material used in everything from stockings to toothbrushes to electronics. When a reactor vessel fails, the engineers improvise a quick-fix workaround, so the plant can keep up with demand. Before long, the temporary patch - a small, bent pipe - becomes a permanent part of the factory, and the people of Flixborough unknowingly drift towards disaster.
Listen to more <a href="https://www.pushkin.fm/podcasts/cautionary-tales">Cautionary Tales</a> whenever you get your podcasts.&nbsp;

It’s the history of business. How did Hitler’s favorite car become synonymous with hippies? What got Thomas Edison tangled up with the electric chair? Did someone murder the guy who invented the movies? Former Planet Money hosts Jacob Goldstein and Robert Smith examine the surprising stories of businesses big and small and find out what you can learn from those who founded them.

It&rsquo;s the history of business. How did Hitler&rsquo;s favorite car become synonymous with hippies? What got Thomas Edison tangled up with the electric chair? Did someone murder the guy who invented the movies? Former Planet Money hosts Jacob Goldstein and Robert Smith examine the surprising stories of businesses big and small and find out what you can learn from those who founded them.

Business History

The Factory That Was Wiped Off The Map (From Cautionary Tales)

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7b46b833-c139-4927-8798-b478010ebb02/transcript

John Meriwether assembled the smartest team on Wall Street. In the 1980s, he combed Harvard and MIT for geniuses to join him at Salomon Brothers and make the investment bank a fortune with arbitrage - the trick of buying an asset cheap in one place and quickly selling it for a profit in another. 

When he parted ways with Salomon Brothers, Meriwether took his "nerds" to set up a hedge fund. They prospered - making themselves and their clients rich. Two employees even picked up a Nobel Prize. But Long Term Capital Management operated in the real world - where projections and charts and formulas can't protect you from political chaos and economic turmoil. 

Write to us at businesshistory@pushkin.fm

John Meriwether assembled the smartest team on Wall Street. In the 1980s, he combed Harvard and MIT for geniuses to join him at Salomon Brothers and make the investment bank a fortune with arbitrage - the trick of buying an asset cheap in one place and quickly selling it for a profit in another.&nbsp;
When he parted ways with Salomon Brothers, Meriwether took his "nerds" to set up a hedge fund. They prospered - making themselves and their clients rich. Two employees even picked up a Nobel Prize. But Long Term Capital Management operated in the real world - where projections and charts and formulas can't protect you from political chaos and economic turmoil.&nbsp;
Write to us at&nbsp;<a href="mailto:businesshistory@pushkin.fm">businesshistory@pushkin.fm</a>

The Nobel Winners Who Almost Crashed the Economy  

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/00de6b14-6d6d-40c0-8831-b46c00aebfa8/transcript

Shopping used to be adversarial. Shoppers and store owners would bargain and haggle over prices. What one person got for $1, the next guy bought for £1.25. And there were no returns. It was unfair and stressful - and made shoppers distrustful that they were getting a good deal. John Wanamaker changed all that. 

Wanamaker thought about being a preacher before setting up as a clothes merchant. So he built a retail empire built on fairness and trust. Price tags appeared in his stores - promising everyone would pay the same. And if you weren't happy - you could return your purchase. This was so unusual that Wanamaker even won the praise of a US President.  

AND to see Joseph Monroe Bennett's magnificent moustache for yourself go to: https://archives.upenn.edu/exhibits/penn-people/biography/joseph-monroe-bennett/

Write to us at businesshistory@pushkin.fm

Shopping used to be adversarial. Shoppers and store owners would bargain and haggle over prices. What one person got for $1, the next guy bought for &pound;1.25. And there were no returns. It was unfair and stressful - and made shoppers distrustful that they were getting a good deal. John Wanamaker changed all that.&nbsp;
Wanamaker thought about being a preacher before setting up as a clothes merchant. So he built a retail empire built on fairness and trust. Price tags appeared in his stores - promising everyone would pay the same. And if you weren't happy - you could return your purchase. This was so unusual that Wanamaker even won the praise of a US President.&nbsp;&nbsp;
AND to see Joseph Monroe Bennett's magnificent moustache for yourself go to:&nbsp;<a href="https://archives.upenn.edu/exhibits/penn-people/biography/joseph-monroe-bennett/">https://archives.upenn.edu/exhibits/penn-people/biography/joseph-monroe-bennett/</a>
Write to us at&nbsp;<a href="mailto:businesshistory@pushkin.fm">businesshistory@pushkin.fm</a>

A Store Owner You Can Trust: John Wanamaker, Returns and the Price Tag

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/59817df9-b718-4984-b748-b4660140f2a5/transcript

Why have so many tiny start-ups come from nowhere to take down huge established corporations? Is it because the incumbents were dumb? Harvard Business School professor Clayton M Christensen decided to explore these David versus Goliath battles - and came up with a theory to explain why seemingly solid businesses suddenly lose market share... disruptive innovation.  

In his hit book, The Innovator's Dilemma, Christensen explored how flawed products from small companies can suddenly catch on, disrupt the market and steal customers from established corporations. Christensen - a life-long Boy Scout - was an odd champion for "disruptive innovation", but his ideas have totally changed the business landscape.

Write to us at businesshistory@pushkin.fm

Why have so many tiny start-ups come from nowhere to take down huge established corporations? Is it because the incumbents were dumb? Harvard Business School professor Clayton M Christensen decided to explore these David versus Goliath battles - and came up with a theory to explain why seemingly solid businesses suddenly lose market share... disruptive innovation.&nbsp;&nbsp;
In his hit book, The Innovator's Dilemma,&nbsp;Christensen explored how flawed products from small companies can suddenly catch on, disrupt the market and steal customers from established corporations. Christensen - a life-long Boy Scout - was an odd champion for "disruptive innovation", but his ideas have totally changed the business landscape.
Write to us at&nbsp;<a href="mailto:businesshistory@pushkin.fm">businesshistory@pushkin.fm</a>

The Boy Scout Who Brought us the Age of Disruption

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2f673c5e-a1cb-4467-8fe1-b46501102052/transcript

The Factory That Was Wiped Off The Map (From Cautionary Tales)

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