Teddy Roosevelt the Trustbuster - Big Oil - US History - Part 1 - Extra History
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- čas přidán 19. 02. 2021
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Theodore Roosevelt is famous for many things, but we tend to focus more on his foreign policy and his establishment of the natural parks. Not this series. We're going to take a look at how Teddy smashed up one of the biggest trusts America had ever seen: Standard Oil. But first, we have to lay out the groundwork. Who was John D Rockerfeller? What did Standard Oil do exactly that was so bad? And how did Ida Tarbell crack the story of a century?
--- Miss an episode in our Teddy Roosevelt Series? ---
Part 1 - Big Oil: • Teddy Roosevelt the Tr...
Part 2 - The Regulators: • Teddy Roosevelt the Tr...
Part 3 - Breaking Standard: • Teddy Roosevelt the Tr...
Part 4 - Trainwreck: • Teddy Roosevelt the Tr...
Part 5 - Meat Grinder: • Teddy Roosevelt the Tr...
Series Wrap up / Lies Episode - • Teddy Roosevelt the Tr...
Music From the Show - "Monopolies" - • ♫ Teddy Roosevelt the ...
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♪ Music by Demetori: bit.ly/1EQA5N7
♪ Outro Music: "Monopolies" by Tiffany Roman
Download the Outro Music Here: / teddy-roosevelt-49583677
#ExtraHistory #History #TheodoreRoosevelt
Holy moly, never have I seen a bigger "Trust issues" story than Rockyfellers father FAILING A TRUST FALL
Talk about Antitrust.
by the way did you know that BNSF is the succesor to the railroad trust
Nothing says "trust issues" as much as creating the largest trust in world history.
Top tier parenting, clearly...
@@JaceGem lol
“Son, never trust anyone”
“Okay father... *I’ll create the trust* “
dad" dat's my boi!"
@@KingofAwesomness14 Is what he might have said if he hadn't probably been dead at that point :P
(Watches next video) Okay so I spoke too soon.
Lol
This is a story of how bad parents raise demons
"Never trust anyone completely. Even me."
I feel like it's less "even me" and more "ESPECIALLY me"...
"My name is Ida Tarbell, and you ruined my father. Prepare to be exposed!"
That's the thing, this bid paints as some objective saint but in reality she was a brutal and dogmatic person on a crusade against rockefeller. I mean she deamonized him well beyond what he deserved. Also if I remember rightly, John offered her farther a more than fair deal in cash and shares.he took the cash and became bitter because he would have been rich if he had taken the shares.
@@Melon_studios I think it's possible that he really was that bad and she really was that dogmatic.
@@Machtynchief I have read a huge ass biography on him that was super objective. Yes some of his practices were awful but overall he was and done way more good than bad
@@Machtyn he strived to donate 10% of his income every month to charity, doing this when he was an apprentice clerk whilst his family were still super poor
@@Melon_studios A good act does not wash out a bad act, nor a bad act the good. Rockefeller's business practices endangered the very concept of capitalism and free markets by making himself and his companies immune to the forces of supply and demand.
“Large companies could weird more political power than some governments”
wow that’s so crazy I wonder what it’d be like to live in a world like that 🥲
@@ShetShetSheenHeads he means most of the countries that exist now
@@ShetShetSheenHeads they're still around
Good thing companies like Facebook, Google and Amazon don't exist. Oh wait...
@@fullmetaltheorist not even them but wall street banks which rule us
@@fullmetaltheorist disney
Teddy Roosevelt is probably one of my favorite presidents in history. BULLY!
too bad the GOP didn't endorase him we wouldn't have had that Dixie whistling dipshit of Wilson
He's my fav, he drank a gallon of coffee every day.
It’s interesting that while Extra Credits does a lot of stand alone videos and short series (like Cuban Missile Crisis) about US history, this is only the second full Patreon voted series after Articles of Confederation about US history. I think Teddy is pretty fitting for a US series. But I hope we get a Civil War and War of 1812 series one day. And something about Native Americans like Trail of Tears.
he loves competition!
@@Game_Hero now where would I mount the stuffed head of a Winston?
I can picture Teddy Roosevelt holding a miniature Earth in his hand, shaking his head:
"No, no, this will simply not do at all!"
This. Is. Not. *BULLY.*
Roosevelt be like: Za WARUDOOOO!!!
Yes. This.
Orbis non sufficit... A foolish sentiment or family motto? ;)
@@theodoreroosevelt2776 I have do much respect for you.
Rockefeller's childhood is literally the "i'm scared dad" vine
Rule no. 1: Never trust anybody
@@nacreangel3750 , you watched that ?
@@nacreangel3750 Not even yourself.
This sounds a lot like Amazon...
Maybe we should do something about amazon to stop them from staying so powerful
We won't under Biden. Maybe a new president I believe.
And google...
With the big guys winning
This sounds *exactly* like Walmart
Trusts: Exist
Teddy: "Bully! A challenge! I love competition!"
Now where do I mount the stuffed head of Winston? (Aahh)
@@bayuadhi3671 I'm into fitness digging ditches through Ilismus
@@burnerheinz Rough riding into Cuba like...
@@valtteriahokas6238 What's up bitches?!
@@valtteriahokas6238 WHAT’S UP B!c#ES! XD
Rockefeller: *No Man can bust me...*
Ida: I am *no man.*
railroad trust: we are unstoppible:
roosevelt: not so fast
BNSF in 1995: we are back and were BIG
I love that reference 😂😂
Macduff was from his mother's womb untimely ripped!
that profile picture is Gildarts right?
@@henrypaleveda7760 bait
Teddy Roosevelt: **gets shot while performing a speech** "Oh No!"
Also Teddy Roosevelt: **continues on with his speech like the badass he is** "Anyway."
Didn't he beat up the guy who shot him and then went on with his speech?
botom ger m8s
@@Toonrick12nope, he didn’t. He just asked him why he shot him, and then sent him to prison (or jail idk)
I clicked for Teddy Roosevelt. I didnt get enough Teddy Roosevelt. You should make a series on the dude because he lived a damn interesting life
Wait until the next episode.
@@Panzermeister36 I dont wanna wait though
Also a terrible human being.
@@seiyuokamihimura5082A Chad in essence. Only spineless pacifists and hippies will hate on Teddy Roosevelt.
My grandpa looks exactly like Teddy Roosevelt- it’s terrifying how close the resemblance is- 💀
Oil Company: *is bad*
Teddy Roosevelt: *It's Showtime*
"Bully! A Challenge: I love competition!"
@@celston51 now where would I mount the stuffed head of Winston?
railroad trust: we are unstoppible:
roosevelt: not so fast
BNSF in 1995: we are back and were BIG
And don't forget he always offered and encouraged those against him to join him, offering more than fair deals and offering them shares so they can benefit from standards growth. Those that took this deal became very, very rich. Those that didn't became very very bitter
Yes I am pretty great
Its about time my favourite U.S. president got an Extra History series.
*Our* favorite president
@@neathizar9743 *everyone's
Teddy is the physical manifestation of the word chad.
My second favourite!
It’s funny I think he’s one of the worst presidents but to each his own
Darn, I was actually writing a script to cover the wall street bombings and the labor wars the in United States. I had a discussion with someone about labor laws, and I had to explain to them why there were so many.
It reached a point where the US military bombed the US. (Blair mountain)
Wow, that was a really depressing wikipedia article, but thanks for making me aware of some screwed up American history.
@@kaiser553 the majority of US history is dreadful
We seriously need an Extra History on American labor.
Wasn’t it aircraft that the company had did the bombing and than the military started to show up?
@@leoslack6104 it's really messed up that we need to seek this stuff out to learn about it, our education system is so against portraying America as anything but a savior surely has screwed with millions of people's perception of history.
Investigative Journalism: *exists*
News outlets: "wow...this is useless!"
The last time the New York Times tried investigative journalism, a whole nation yawned.
So yeah, news outlets are right. Useless.
That'd be because the megacorps own the news outlets.
@@VuldEdone the investigations are false accusations
@@gamingpolice589 Do you know what an investigation is?
@@gamingpolice589 Which ones are you referring to? Presumably not every piece of Investigative Journalism ever, so....?
Rockefeller: “You can’t stop me”
Tarpel: “I can’t, but he can”
Cue TR
Teddy: "BULLY!"
"You cannot stop me, i have an army of spies"
"We have a Teddy Roosevelt"
@@RamzaBeowulf Teddy Roosevelt: "Big Stick Smash!"
@@DragoSonicMile "Puny Rockefeller" *(Sound of tiny, tiny whimper coming from crater in the floor)*
Starndard Oil I am your Doom!
"Trusts only his fists" - I'd vote for that
You know when you're well versed in this period of history, it's not hard to see the same things The Robber Barons did are what Big Tech is doing now. They just learned from the RBs mistakes.
We like to think of history as a line, or an arrow pointing forward, but sometimes it's a big old circle.
This. We're in Guilded Age 2.0, but rather than gold, it's platinum.
@@mrbyzantine0528 Interesting Fact, platinum per ounce is worth less than gold per ounce at the moment
@@mrbyzantine0528 i think its data thats the new oil
When life's necessities are met, surplus is the only measure of success, and some people NEED to succeed. At any cost.
Protestors: *knock over and spill oil drums*
Narrator: “News has leaked”
The beans have been spilled
Doc Rockafeller: Do you trust me son?
John: yes dad!
Doc: Rule number one, never trust anybody!
Ay yes, I know this is from Vine, funny one.
I can really picture Rockefeller relationship with his father by this single phrase
How to grow your son a jerkass 101
I think Trump's father also did this to him.
Hey light your garbage
Theodore Roosevelt is one of my favorite presidents he was a great hunter and a great conservationist
@Poop Poop FDR prolonged the Great Depression Amity Shlaes explains in her book called “The Forgotten Man”
And a boxer, a martial artist, a poet, a badass and a genius
@Poop Poop FDR was a populist that did as much harm as he did good.
Also a scholar, explorer, scholar, police commissioner, war hero, cowboy, etc.
Ehhh, i feel that conservatives and liberals also go to the extremes with FDR, liberals claim he was the best we've had while conservatives argue he was one of the worst, i think he was just a below average president. While he had horrible economic policies, he was able to uplift Americans thru some of the toughest times and without his contributions to the allied effort in ww2, america might have stayed out of the war and the axis could have won.
Ida Tarbell sounds so cool, bring a huge cooperation to it's knees with some clever digging and the power of the pen.
I can think of a few companies that need reminding that they serve the nation rather than the other way round.
She was mixed, her opinions on womens suffrage were strange, and not to mention her weird ass article on bennito mussolini
Wait, you mean companies having an excessive and uncontrollable amount of power even to the point of surpassing thay of government officials is bad? Damn, it's a good thing we don't have that today... oh wait...
Oops
Looks like we need a new Teddy Roosevelt
Oh it's bad all right not that bad though but we are getting right back there sadly
Capitalism is wack man
Sucks that standing up for the country has become so politicised, TRoosevelt would be called a communist for trying to do nowadays what he did then.
I think the Speedwagon Foundation is trustful
@Gamesbite ACNH
Of course, they are trustful. They’re more trustful than the Grande Foundation (Knight of the Zodiac-Saint Seiya).
HAHAHAHA
Well, considering that Speedwagon Foundation support JoJo's family for generations purely out of a friendship, and willing to die for them.
I said "if you ever have a friend like the Speedwagon, choose one of his descendants and choose one of yours, and just be a big family already".
Rockefeller has such a perfect lawful evil supervillain origin story.
One of the most important women of her time. I wish there were more people who investigated the crooks out there like she did. She wanted the WHOLE story, and dammit she got that WHOLE story
Y'know, sometimes I blissfully forget how grossly prevalent "social Darwinism" was back in the late 1800s and early 1900s. Then I hear about Rockerfeller's belief's that it was "Gods will for the strong to crush the weak" and I go "Ah. *You* again."
Isn't it amazing how social darwinism, manifest destiny and the prosperity gospel all vibe with each other?
Roosevelt: "We need to discriminate between good trusts and those that are corrupt and uncompetitive."
Taft: (Sees the words "big", "business", or "trust" in a single sentence together in any arrangement or capacity) "REEEEEEEEEEEEEEEEEEEEEEEEEE"
Rockefeller's espionage network is something I never learned in high school! Being a red town, they just tried to portray him as having a sixth sense for markets and literally never told us this juicy tidbit!
So basically Rockefeller was the father of predatory pricing. Now I know who is Bezos' favourite idol.
*we have a Teddy Rossevelet series on extra credits, I REPEAT WE HAVE A TEDDY ROSSEVELET SERIES ON EXTRA CREDITS*
!!THIS IS NOT A DRILL!!
"Rossevelet"
@Georgia Balis Inspection in a few minutes if everyone is on PC and CP
@@crank175 Mobile Phone Squad at the ready sir!
@@crank175 Good job soviet doggo General soviet doggo is here to comand
@@jackthorton10 get The Phone call Gun ready...
Monopoly: In money we trust.
Roosevelt: Did someone request a beating with a big stick?
Teddy Roosevelt in a word: S T I C K
Njvikesfan 01 "I speak softly, but I carry a BIG STICK!"
we need a man like Theodore Roosevelt again he would cut fences and sort these bastards out.
Teddy's nickname was actually "The Bull Moose" because he was both unstoppable and stubborn. No joke, once when he was preparing to give a speech, someone shot him! And while everyone was freaking out, he simply got up, went to the podium, and said, "You all have probably heard that I have been shot, but it takes more than that to stop a bull moose." And then went on to give his entire speech before going to the hospital. Dude was a legend!
"I'll bust a trust fund lush with my American muscle..."
"So walk softly over here and give my big stick a suckle!"
So you TOO are a patron of the Historical Rapping arts.
Finally! I was waiting for them to do Teddy.
I want Roosevelt for Smash.
Seriously, I wish we had a prominent trust buster today. I hope we get one, or be our own.
That's what Mii fighters are for.
Though Eggman might be a possibility.
Not until we get Grover Cleveland.
Which industries need trust busting in your opinion?
@@marrqi7wini54 you have given me an idea. Make Theodore Roosevelt in Miitopia.
“If you know the enemy and yourself, you need not fear the result of one hundred battles,” - Sun Tzu.
Many of these big businesses actually respected Teddy, and Teddy respected them. Like J.P. Morgan, for example.
The craziest thing about standard oil is how many of the world's major oil companies are from the break up of the trust.
Essentially you can’t stop people from making money
Rockefeller actually made more profit from after Stand Oil was split, than before.
somebody should bring the big stick to google and apple
or how about we stop letting Disney own every single thing.
Italian stalin pic?
@@bastard-took-the-name-I-had da
@@setcheck67 and push back public domain dates so they keep every property under their banner forever.
@@setcheck67 Yeah but companies like AT&T are arguably worse than Disney. They influence broadband, telecommunications, and since they own WarnerMedia, entertainment. Disney can be terrible, but they're simply smaller than AT&T in their range and influence.
Ahem. *Colonel Roosevelt. He would fight anyone who called him Teddy
He woulda fought death itself, so death had to take him sleeping.
@@Osric24 that is what some said after he died death took him while he slept, if awake there would have been a fight. my bet would be Theodore winning or at least a draw.
Theodore Roosevelt looking at monopolies: “I will bully you to the point where you will split apart.”
we need someone like him again big tech is too obnoxious
I feel like that Nate Dogg/Warren G song, "Regulate," is going to be the next intro and that makes me very happy 😊 🙌
Shady back alley deal: "Any of yousis wants ta buy my booksises?" 🤔
Roosevelt was one of the best presidents we have ever had, great video!
Cant wait for more episodes on Teddy and this whole story
"America ran on oil"
Still does...
Doesn’t have to and shouldn’t, but capitalist are like ‘mUh OiL’
@@leoslack6104 capitalism good ;)
Rockefeller: *No man can stop me!*
Ida Tàrbell: *I am no man!*
Gee, that all sounds like Amazon...
There are many modern megacorps this comparison could apply to.
and Disney, and AT&T, and Verizon, and Microsoft, and Sony, and Time Warner, and PB Oil, and Nintendo, and Freddie May and Bernie Mac, and Dahl Chemical....
@@IliyaMoroumetz Nintendo was a monopoly for a time but isnt anymore... Nintendo is fine as a company however everyone else on that list can go to hell
@@constantineergius1626 and honestly, nintendo, and to an extent disney, is something you can just, not use, but MS, PB oil, and verison? yeah no
@@thebravegallade731 Honestly, the more I study Microsoft's corporate history, the less I feel they should be on that list. However, I still respect why you all may think so.
This video shows beautifully why here in Germany it's illegal to sell goods under the purchase price.
A lesson Wallmart learned the hard way.
I have to know more about this. Can you elaborate?
@@fireironthesecond2909 Walmart made a bunch of mistakes, thinking they could just retain the American model unchanged, without regard for the labour law, the unions, the Shop Closing Law and the Bundeskartellamt (Anti-trust/anti-cartel office). There's an 10-page paper at scholarworks.uark.edu/cgi/viewcontent.cgi?article=1002&context=mktguht that goes into details.
*watching this while waiting at the airport*
Wow, I'm glad we dont just let companies buy out all competition then jack up all the fees...
...
Right
We need a successor of Teddy. We've been too lenient on giant companies.
That reminds me, in 2015 I saw a story of the DOJ probing an alleged price fixing case among airlines to keep prices high, I had to stop following the case due to work priorities. Anyone know what happened?
Looking at the tech industry, big government is getting really antsy in wanting to break up big tech (Google, Apple, Microsoft, Amazon, etc). Fortunately, breaking up big companies don't involve blood. Usually. Breaking up big government, on the other hand...
the tech industry's are currently on a thin red line in several areas, but other then them, the dangers is low. some of the biggest offenders are the US ISP's, and company's like Amazon and google.
@@justinh6651 We won't get one. They know the trick now, so they vet everyone who might have that much power.
John: I'm scared, dad!
Doc: do you trust me, son?
John: Yeah!
Doc: c'mon! *Let him fall* rule number one, never trust anybody!
Doc: *Not. Even. Me.*
John: *intense crying*
Ngl, Teddy Roosevelt is probably my favorite president
Between Trust-busting, the FDA, the National Parks, and more, he did a lot of good things for the country
Too bad he was racist, otherwise he would had an almost flawless legacy.
I really love how you lampshaded the part played by that individual journalist!
its good not to only focus on the "big" names but also all the little peeps that helped make it possible. Bonus points for including a female hero, too.
A Teddy series? Haven't been this excited for a series in a while. One of my favorite people in history.
Taft: What about me??? I busted more trust.
Internet: Yeah, you don't matter.
We only remember the bathtub incident.
@@espio87 no evidence that the bathtub incident actually happened, but I still want to believe.
Cheer up Taft, be glad you're only the second fattest President.
Taft should also get his own series
@Robert Ortiz-Wilson Sadly that is always a part of history, not all great man and women gets credits.
This is small compared to the story here, but on Vancouver island lived a man named Dunsmuir. He was a robber baron with his fingers into everything. he founded Ladysmith BC tout of sheer spite. Moved his entire coal operation from Nanaimo.... PLEASE do a story on him!!!!
1:42 - So, I guess the "Big Stick" wasn't just for international politics...
7:11 "The only remaining copy..." Like, this is the kind of thing you expect to hear in a medieval fantasy story about an ancient tome of unknown lore, not as a key part of history.
Yet I love every time it shows up
4:16 I ended up accidentally pausing during this bit causing “young John became a book-“
for anyone confused, a trust is essentially is when a parent company(standard oil in this case) grants or entrusts something to another person or company. In the case of standard oil, this would mean entrusting certain parts of production to other companies like the standard of Ohio this video mentioned
now why would they entrusts their production to other companies?
Standard shouldn't be the standard
Pretty good right?
N o
Get out
3:56
That's actually the vine. That's literally the vine.
Rule number one never trust anybody
4:10 - Father of the Year, Ladies and Gentlemen!
I'm not going to lie. That was a pretty hard line.
John D. Rockefeller: "You can't defeat me."
Ida Tarbell: "I know, but he can."
*Teddy Roosevelt bursts out of the refinery, destroying it in the process*
What would Teddy Roosevelt do to Big Tech Corporations?
Smash them even harder
@@mugenokami2201
Big Tech: Nooooo You can't take away the power Obama gave us!.
Theodore Roosevelt: Ahahahha Big Tech Anti-Trust Bills go Brrrrr
He must have been a really good teacher
Probably shoulda named this episode after the person it was talking about, Ida Tarbell. Rooesevelt doesn't even matter in the story yet, and given that I had never even HEARD of Ida, I'd say she's long overdue for some real recognition.
Despite how much it might gross people out, I really hope this series touches on the things Upton Sinclair exposed about the meat packing industry from this period.
After hearing this, I with 100% certainty can say that Disney is the modern - day Standard company. (Teddy we need you)
Teddy's Teddy is dead so nothing can stop the companies now well I'm going to just be a coward and join the side that's going to win
"Whosoever holds this big stick, if he be worthy, shall possess the power of Teddy Roosevelt"
Teddy was such a man's man. Looking forward to this one.
I’m so glad you guys are on Nebula now. It’s super exciting to see the platform grow!
I hate how some libertarians straight up deny this kind of stuff being possible. Some people really think that monopolies didn't exist or at the very least think they could never afford to undercut and buy up businesses. Their main argument is that everyone would try to start a business to get bought out, but the problem is it costs money to start a business. If you got into it just to get bought out, more likely you would just be left to bankrupt because you didn't actually have a real business plan, plus noone is going to invest in you to help you get started which means you have a greater chance of failing before you could reach a point where a monopoly would want to buy you out.
An interesting phenomenon in Economics is when a monopoly over reaches with regard to prices, it can undercut their profits almost as much as if they did have competitors in their market. This is because if the costs become to high, people will either a) simply not buy or b) seek alternative goods/services from another market entirely.
@@samuellancaster6487 Funny thing that.
Amazon, Walmart, and in a similar degree but in a different direction Facebook; have all been allowed to continue existing for the decades that they have due entirely to the fact that they DONT raise prices beyond what 'seems' reasonable. Bear in mind these companies control All the data so they know exactly what that majical number is. down to the penny. and can have computers adjust things accordingly in seconds. and do it all in realtime.
Although at this point there IS NO OTHER market to use as an alternative.
And you have to buy at SOME point. They can afford to wait.
@@StumpyDaPaladin Amazon often loses money, just to undercut other markets. They've thought this through
TR: "Trusts only his fists!" That's gold! 😂😂
IT
IS
HERE!
I’ve been wanting this series for years.
Teddy would have loved watching this video. Educating the masses to history!!
Teddy needs to come down from Heaven and trust bust the Hell out of Google and Disney !
You guys!! Keep doing an amazing jobs! I can't stop watching any your videos
Standard Oil is a cautionary tale in the dangers of an unregulated free market. Something we're seeing play out again in modern times in multiple industries.
One of the key things behind Standard oils growth was getting quality control right. While other producers were very hit anf miss about theirs. I suspect we are in a similar era for weed.
Henry Rogers after seeing himself being cited in The History of Standard Oil: 👁👄👁
Now it's the 21st century... who will break up Big Tech?
Teddy's ghost!
i can already tell im gonna love this series, cant wait!
An Extra History series on one of the greatest American presidents! I couldn't click on this fast enough.
Nope not the greatest thats FDR
We need Teddy back.
We need some Trust-Busting nowadays.
*I have been waiting so long to see my favorite Teddy in this channel.*
This needs to be added to the All Episodes and All Episodes (Chronological Order) playlists :)
Great video as always!
Meanwhile, my dad dismisses all of the stuff that makes Rockefeller not perfect but provides no citation
Did your dad also make you jump from a chair?
oil is america's favorate drink.
Now, I'm not a video game man at all by any definition but I absolutely love your history, literature and mythology videos. I am a history student and scholar and really enjoy them 😊
That was, hands down, the best intro hook you have done. Great job!
Trust issues make trust issues.
JD Rockefeller: “No man can hinder me!”
Ida Tarbell: “I am no man!” 😜
I really like extra credit video they are very energizing, interesting and always something to learn. In school we used to hear such stories.
Rockefeller: No man can stop me.
Ida Tarbell: I am no man!
I don’t know about you, but if this isn’t a fantastic use of LotR’s “I am no man,” I don’t know what is.
The miscellaneous workers rights movements, mostly against trusts, are so interesting. I hope you do one with Mother Jones, the Battle of Blair Mountain, and the coal miner’s fight for rights.
Man this video is good! Keep up with the amazing work guys!
I am already loving this series!