Robber barons, the monopolistic business people of the 19th century, explained

Explore a list of well-known monopolies

Many American monopolies popped up during the rapid industrial growth of the Gilded Age. Industries like steel, tobacco, railroads, and telecommunication have all been monopolized at some point in history.

Monopoly was based on the satirical Landlord's Game, which criticized the abilities Monopoly rewarded.

Standard Oil's predatory business practices included temporarily operating at a loss to drive competitors out of business

Rockefeller's oil monopoly had a dark side, including cutting oil prices so low that Standard Oil was sometimes temporarily operating at a loss in order to drive competitors out of business.

Read the Federal Trade Commission's legal definition of a monopoly

The Federal Trade Commission and the US Department of Justice (DOJ) Antitrust Division are the regulatory agencies responsible for overseeing antitrust laws. Before deeming any company a monopoly or acknowledging monopolistic power in a market, the FTC conducts thorough research into market competition, price, and even other competitors' business practices.

A 'monopsony' is a market with a single buyer—rather than a single supplier

A monopsony is the demand-side equivalent of a monopoly, where a single buyer commands a market. In a monopsony, the buyer has an outsized influence over the price of a product or service because they control most or all of the sales in that market.

Often dubbed the 'king of bank robbers,' George Leonidas Leslie stole an estimated $7M (equivalent to $200M today) and charged other criminals a $20K fee to evaluate their heist plans

Leslie studied architecture and used blueprints of safes and banks to execute meticulously planned bank heists across the Northeast between 1869 and 1878. Although Leslie was an infamous bank robber by night, he posed as a member of high society by day, providing critical intel on the institutions he'd rob and helping conceal his crimes. Months before his largest planned heist, where he planned to turn on his gang, Leslie's body mysteriously washed up along the Hudson River. His killer remains a mystery.

Billionaires are racing to space to control future markets

Although different companies have described focuses ranging from luxury tourism to Martian space colonies, all are building infrastructure to capitalize on the shift away from government-only control and betting big on reusability and scale. By securing public contracts and subsidies, they aim to develop strategic partnerships toward dominance in low Earth orbit.

There's a myth that Al Capone coined the term 'money laundering'

Al Capone owned multiple dry cleaning businesses in Chicago that were believed to be a front for his extensive bootlegging empire, but that's most likely not where the term "money laundering" actually came from. The word didn't appear in popular lexicon until the 1970s, and there aren't recorded references to Al Capone as a money launderer until much later.

Some refer to LVMH CEO Bernard Arnault as 'The Wolf in the Cashmere Coat'

Likely a play on the phrase, "a wolf in sheep's clothing," the nickname was earned via Arnault's "take no prisoners" approach to business. As he ages, many have wondered who will succeed him as CEO, and if it will be one of his children already employed under the LVMH conglomerate.

How popular are America's billionaires?

The US has more billionaires than any other country, and they are a mix of media moguls, entrepreneurs, and entertainers. This list ranks the 10 richest Americans by their popularity. The oracle of Omaha, Warren Buffett, ranks highest in favorability at 52%, while Google cofounder Sergey Brin ranks lowest—likely because 72% of respondents didn't recognize his name.

Racketeering is broad term for running an illegal scheme

Racketeering itself isn't a single crime and prosecutors tend to think about racketeering as a pattern of criminal activities, including kidnapping and money laundering. The term comes from the Racketeer Influenced and Corrupt Organizations Act, known as RICO.

Tombaroli steal precious items from ancient people's tombs in central Italy

The tombaroli, or tomb-robbers, raid ancient Etruscan tombs in the dark hours of the night to recover vases, statuettes, mirrors, ornaments, jewellery, and other objects in gold, bronze, and terracotta. Read a firsthand account of a tombarolo who made a living handing stolen items to middlemen who sold them to wealthy buyers abroad. The lives and practices of tombaroli are also explored in the 2023 film "La Chimera."

Brutalism's definition has shifted over time

The term originally referred to a modernist style popular in Great Britain following World War II. They were large, optimistic projects that often facilitated community. Later, though, brutalism came to mean buildings primarily made of concrete that appear sinister or authoritarian.

Why some nations reach economic success and others don’t

The 2024 Nobel Prize in Economics winners, Daron Acemoglu, Simon Johnson, and James A. Robinson, were honored for their compelling research on the factors that influence a nation’s prosperity. Spanning two decades, their work presents insights into how societal organization can explain the income discrepancies between different countries. In general, their research shows that economic success favors more free and open societies. Listen for more fascinating insights.

William Marbury was a wealthy Federalist insider

Marbury was a prosperous Georgetown businessman, bank director, and slaveholder with close ties to the Federalists. His appointment as a justice of the peace, which was never delivered, sparked the Marbury v. Madison case.

Before the modern banking system, most lending resembled private credit

Before the creation of the modern banking system, the majority of loans were negotiated directly between the lender and the borrower—effectively making them private credit transactions.

Twain was a notoriously bad investor

After becoming a famous writer, Twain invested in railroad stocks, a magnetic telegraph, and a printing press that weighed four tons. Eventually, he founded his own publishing company, which ultimately led to his bankruptcy. “He is, in business,” one lawyer said, “just a big overgrown boy.”

The term 'startup' can be traced back to a 1976 Forbes article

The magazine article included what’s widely considered the first recorded use of the word “startup.” The following year, the publication Business Week went on to use the term in a piece as well.

Lord Byron lives on through the Byronic Hero trope

Brooding introspection, rebelliousness, and a troubled past define the Byronic Hero, named after an archetype made famous by Romantic poet Lord Byron. This video dives into the romantic rebel's origins, why he’s so compelling, and how the character type persists in modern media.

A list of MBA jargon, complete with a ‘corporate BS generator’

From the classroom to the boardroom, MBA students hear plenty of corporate jargon in their lifetimes (think: “bandwidth,” “turnkey solution,” “modularize,” and more). This website—a relic from the internet—includes an MBA jargon dictionary and a corporate BS generator tool that creates helpful phrases for office life, like “incubate synergistic e-markets.”

True crime broadsides were a popular business venture in 19th-century England

Offered by traveling peddlers, these playbills described crimes and crime scenes in detail and often included speeches and confessions of the soon-to-be executed. Broadsides typically included illustrations of crime and execution scenes to drive home the details.

The British Royal Navy—not the US military—enforced the Monroe Doctrine for most of the 19th century

In the early to mid-1800s, the US lacked the ships and military power to prevent European nations from colonizing the Americas. Britain enforced this to protect its commercial interests by keeping rival European powers out of Latin America.

Lenin’s “dictatorship of the proletariat” meant power held by workers, not elites

Lenin argued that capitalism concentrated power in a small ruling class, and only transferring authority to industrial workers could eliminate exploitation and class hierarchy. This five-minute explainer outlines how he envisioned that revolutionary shift.

Robinhood's mission of democratizing finance included its IPO

In 2021, investing app Robinhood went public—and decided to go about its IPO process differently. Unlike other companies, it opened up its IPO for the general public to purchase right away. A podcast episode explains what made Robinhood's IPO so unique prior to its launch date.

The word 'barbecue' is thought to come from 'barbicu'

Modern barbecue originated in the precolonial Caribbean and Americas. The word is thought to come from the Indigenous term for wooden frames used to cook meat high above the fire.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

The first robot in literature may have been a 'mechanical man' in 1907's 'Ozma of Oz,' a book in L Frank Baum's 'Wizard of Oz' series.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

Watch this video that uses Lego bricks to explain how venture capital works.

At the beginning of the 20th century, a group of young men ate standard American food—replete with food additives like borax and formaldehyde—as part of government research to better understand food safety.

The 19th-century painters of the Hudson River School were among the first American romantics, with portraits that displayed the natural beauty of the young country.

The Brothers Grimm were lawyers before they were storytellers, and became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

Learn how monoclonal antibodies, which mimic the body's antibodies, can fight diseases like Ebola.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

During the French Revolution, a botanist's letter asking about "dear Rhus" (poison ivy) was intercepted, leading authorities to suspect he was conspiring with the Russians.

Some researchers have labeled nomophobia, the fear of being without your phone, as 'the phobia of the 21st century.'

Corals are themselves not coral reefs—the term refers to the tiny marine invertebrates that build the rigid reef.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

SpongeBob exemplifies Aristotle's philosophy for living well because he understands that happiness doesn't come from external factors like money, recognition, or power.

The American cockroach is actually from Africa, an apparent hitchhiker aboard ships carrying enslaved people, with evidence suggesting the bug may have arrived in the New World as early as the 1600s.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

Most of the observable universe's volume consists of voids and supervoids—enormous regions of space with little to no galaxies, stars, or light.