The end of the 19th century is marked by the activity of many inventors. AG Bell invents the telephone in 1876, TA Edison patents the electric light bulb in 1879, the typewriter is invented in 1867, Westinghouse's alternating current (AC) in 1886, etc. throughout the period from 1790 to 1860. Additionally, the railroad boom, electrification, improved communications, telephone, and telegraph connected the United States to the rest of the world. It is no longer a culturally isolated rural town. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay The technological revolution led to the rapid industrialization of America. Companies capitalized on inventors' ideas and put them into practice in the market. New industries emerge, such as steel production, oil refining, transportation and finance. Capitalists known as robber barons made a name for themselves by buying up the businesses of their competitors and consolidating them into trusts. Standard Oil Co. Inc. is America's leading petroleum creation, shipping, refining and advertising organization. Founded in 1870 by John D. Rockefeller near Henry Flagler as an organization in Ohio, it is the largest oil purifier in the kingdom of now is the ideal time. Its history as one of the world's first and largest corporations ended in 1911, when the United States Supreme Court ruled, in a landmark case, that Standard Oil was an illegal containment facility. Standard Oil dominated the petroleum products showcase at first through uniform reconciliation in the refining division, then in later years by merging vertically. The organization has been a pioneer in improving business confidence. The Standard Oil trust streamlined creation and coordination, reduced costs, and eliminated contenders. Rockefeller runs the organization as its administrator. He remained a significant investor, with the disintegration of the Standard Oil fund into 34 smaller organizations, Rockefeller became the most extravagant man in America, as the underlying wages of these individual businesses proved far greater than that of a more loner big. organization. In 1882, his main collaborator was John Dustin Archbold. After 1896, Rockefeller retired from business to concentrate on his generosity. This is the point where he donates his wealth to make the network bigger. He jumps at the opportunity to help using his wealth. This left Archbold in command. Other notable Standard Oil executives include Henry Flagler, designer of the Florida East Coast Railway and urban tourist areas. Henry H. Rogers, who built the Virginian Railway. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay Surprisingly, Rockefeller, president of Standard Oil, monopolized oil production by acquiring all the rest of the oil companies existing in the United States at the time, or forcing them out of business. By 1880, Standard Oil controlled 95 percent of the oil refineries in the United States and 90 percent of the world's oil refining. It has lowered gasoline prices by nearly 80%. Rockefeller also used horizontal and vertical integration of holdings to grow his businesses, which later became a standard business practice of American corporations. Overall, the period of the end of the 19th century was characterized by rapid industrialization and urbanization, major technological changes, monopolization.