Why Was Cornelius Vanderbilt the Most Ruthless Businessman in History?

Vanderbilt’s story, The story of a man who rose from zero to the top It actually looks quite similar. However, there is something that distinguishes it from others…

“What was that?” If you say Let’s take you down slowly.

Its story dates back to the early 1800s.

Vanderbilt, who left school when he was only 11, started working on his father’s ferry in New York Harbor. His father’s ferry was carrying goods across the river.

After learning the profession Cornelius planned to do the same job on his own however He needed a boat. His mother lent him $100, and when Cornelius was 16, he bought his first boat.

Cornelius had to compete with ship owners.

But Cornelius’ strategy lower everyone’s prices and to offer the cheapest fares on the market.

Fast and reliable It became known for its affordable ferry services. After paying off his debt to his mother, he reinvested all the profits into his business, enabling him to buy another ship, then another, in a short time.

Towards the end of the 1820s, Cornelius took his business to the next level.

He knew that steamship technology was much more efficient than the ships he used, so He started investing in steamships.

Again using the same tactics at the beginning lowered prices to beat each competitor and thus stole all the customers.

It didn’t matter to Cornelius that he lost money on each trip because as long as it has more money than its competitors, could quickly put them out of business and raise their own prices to more sustainable levels after they went out of business.

His logic was simple: He was taking his competitors’ customers and quickly driving them out of business.

These brutal tactics are truly drove other business owners into bankruptcy, but In many cases, Cornelius purchased rival business owners at discounted prices when they realized they could not compete.

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