This Day in Business History: The Podcast Planet Money Releases Lisa D. Cook’s Patent Racism Episode

In this podcast episode of Planet Money from NPR released on June 12, 2020, Lisa D. Cook, Professor of Economics and International Relations at Michigan State University, discusses the economic and social implications of racial disparities for Black Americans in the patent industry. She argues the concept of “big theory innovation,” the concept that if the Read More …

This Day in Business History: Lisa D. Cook Presents on the Economic and Social Implications of Racial Disparities

The economic and social implications of racial disparities On Monday, June 8, 2020, Lisa Cook, Professor of Economics and International Relations at Michigan State University, discussed the economic and social implications of racial disparities in the U.S. at the Bendheim Center of Finance at Princeton University. She focuses specifically on research that examines how violence Read More …

This Day in Business History: Napster Initiates Ripple of Disruption in the Music Industry

June 1, 1999: The world’s first peer-to-peer music sharing site, Napster, launched on this date. Before Napster, music lovers were limited to purchasing music as hard copies on CDs, vinyl, or cassettes. Napster enabled users to share music files in MP3 format, initiating a massive disruption in the music industry. Within just a year of Read More …

This Day in Business History: Facebook IPOs

May 18 2012: Facebook started trading on NASDAQ as FB, with common stock priced at $38 per share. This gave Facebook a $104B valuation, nearly four times Google’s $23B valuation at it’s 2004 IPO. The IPO was notable for more than its size; as technical glitches at NASDAQ later led to lawsuits from shareholders. Sources:  Read More …

This Day in Business History: Happy Birthday NYSE!

May 17, 1792: Outside of 66 Wall Street, under a buttonwood tree, 24 stockbrokers and merchants signed what became known as the Buttonwood Agreement, which established The New York Stock Exchange. The very first listed company on the exchange was Bank of New York. Source: History of the New York Stock Exchange via Library of Congress Read more Read More …

This Day in Business History: New York Stock Exchange Founded

May 17, 1792 – Outside of 68 Wall Street under a Buttonwood Tree, 24 New York City stockbrokers and merchants signed the Buttonwood Agreement which began the New York Stock Exchange (NYSE). Stock Exchanges have been around for while in United States. In 1790, the Philadelphia Stock Exchange, originally named the Board of Brokers of Philadelphia, was founded, and was Read More …

This Day in Business History: The Chunnel Opens

May 6, 1994: The “Chunnel,” a rail tunnel under the English Channel, officially opened. This 31 mile tunnel connects Folkstone, England with Sangatte, France.  Construction began in 1988, with drilling commencing from both countries.  The tunnel goes down as far as 50 feet deep, and the underwater section is 23.5 miles, the longest undersea tunnel in Read More …

This Day in Business History: Happy birthday, J.P. Morgan!

April 17, 1837: J.P. Morgan was a titan of American business. In the late 19th and early 20th centuries, his position and connections put him squarely in the middle of the development of American industry. Even today the name remains in the forefront of the global business financial world. John Pierpoint Morgan was born April Read More …

This Day in Business History: McDonald’s Opens First Franchise

April 15, 1955: Ray Kroc opened the first McDonald’s franchise in Des Plaines, Illinois, having purchased the rights to franchise the restaurant across the country from the founders, Maurice and Richard McDonald.  To announce the grand opening, Kroc ran in add in the Des Plaines Journal, advertising “speedee service” and “plenty of free parking,” along with Read More …

This Day in Business History: Microsoft Releases Windows 3.1

April 6, 1992: This updated version of Windows established some features that are taken for granted today.  This includes the CTRL-ALT-DEL command to avoid rebooting your computer, and allowing you to cut and paste from one application to another.   As internet access moved forward, Windows 3.1 also supported modem speeds up to 9600 bps. To Read More …