4min chapter

Founders cover image

#83 Thomas Edison, Nikola Tesla, George Westinghouse, and the Race to Electrify the World

Founders

CHAPTER

The Northern Lady, the North Star

Edison was distraught after General Electric Reform. He said, I'm going to work on something so big that they'll forget that I was ever associated with the electric industry. So he sets up this thing called the motion picture patents company which was essentially a movie trust. It guaranteed fees worth a million dollars a year to Edison. How crazy is that? When one former colleague expressed concern to Edison about his financial status, he wrote back cheerfully: "My three companies are making a great amount of money" Tesla's idealistic and generous renunciation of his AC royalties was beginning to haunt him. At $2.50 per horsepower, one can quickly calculate that Tesla had nobly forfeited

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