Electricity
Electricity is the single most valuable resource developed in the Modern Era. It is hard to imagine our lives without it. Think of all of the technological advances that need electricity. They are all around us. We consider them a part of our lives. It is hard to imagine that less than 130 years ago it was totally undeveloped resource.
Today we consider it as important as water. A three hour blackout today is an emergency, a blackout sustained 24 hours or more is a crisis and anything longer than that a tragedy.
The industry was built on the shoulder of giants of industry and science. Below are a few
Thomas Alva Edison:
He pioneered the electric industry as an inventor and business man. With more than 1000 patents and a dozen major corporations that still survive today Edison is considered the greatest inventor ever by many worldwide.
Nikola Tesla
Tesla was overlooked for many years by those outside the scientific community. Eccentric and aloof he did not possess the charisma of Edison. His accomplishments are monumental. AC power, AC motors step up and down transformers and radio to mention a few. He was probably more famous for his conflict with Edison than his accomplishments for many years. His generosity to Westinghouse is one of the most selfless acts ever in the history of American business.
George Westinghouse
From inventing an air brake George Westinghouse capitulated his invention and success into a company that reached into the Electrical Industry took a hold of it and never let go. His feud with Edison is the stuff of legends. His business savvy gave him the ability to recognize the genius and ego of Tesla. His vision funded and let Tesla loose to develop the modern electric grid system. The company is valid and successful today.
Samuel Insull
Samuel Insull went from being the private secretary of Thomas Edison to one of the biggest names in the industry. The modern centralized grid was the brainchild of Samuel Insull. He understood the economics and grid loading and developed the business model that survives today. He also spearheaded regulation in the industry as we know it. He also is infamous for the scandal that was the worst in the industry before we met Ken Lay of Enron.