Book outline:
JR MacGregor’s 2019 book is a fast reading, densely fact-packed retelling of the story of America’s first titan of industry. John Davison Rockefeller born in a home inflicted with poverty, his rags-to-riches story reveals his intense desire for success. He rises by his belief in God, a life of piety and purity, the practice of frugality, and courage to execute bold and fierce competitiveness.
What’s the core message?
Early hardship in early life can be a key motivator in the drive for success and wealth. Dishonorable fathers and the love of mothers make a power mix for progress. Young John Rockefeller saw that his father’s irresponsible work attitude and bad social choices kept the family home on the edge of a financial crisis all the way until he finishes high school and enters the workplace. William, John’s father would disappear for long periods of time without sharing when he would return. He would sell an idea to investors take or borrow their money and not return it earning disrepute for the family. His moral flaws included infidelity. He was married to John’s mother, and also had children from another woman. Early poverty and humiliation compelled John Rockefeller to stand by his mother and provide for his family. The hardships forged Rockefeller into the man he became: the richest man on the planet, an oil magnate, a Baptist man. a family man, a man hated for his wealth, and a man valued for his ability to donate to public upliftment causes. Rockefeller was happy in his old age. Having made his fortune, he spent the last years of his 97-year-old life-giving money away.
How does the Rockefeller biography compare to other biographies of his time?
Rockefeller’s biography offers insights into the rich drama of the making of America into the strongest and most powerful nation on earth, its politics, laws, competition, and open growth frontiers. He is not an inventor like Tesla, Edison, or Ford, but has risen through the ranks like Vanderbilt in rail and Carnegie in steel because he is ruthless in conquering competition like Vanderbilt and collaborative to leapfrog the competition by the use of scientific knowledge and innovation by use of experts, like Carnegie did for his steel business.
What the book does well.
This book covers all the major facets of John Davison Rockefeller’s business life, even if it does so less on his personal values and life.
What could have made this book better?
While it is unfair to ask an author to do more than the monumental work he has already done to cover the life of a legend, titan, and visionary because Rockefeller was such an impressive figure in shaping America and indeed the world, the author could have added, who his mentors were, who did his clean-up work, what did they receive in pay, who softened his opponents into submission, whom did he listen to, what was his relationship like with his wife and children, and how did he fit in with the rest of his family? How did he reconcile his piety, pure-mindedness, and his brutal attacks on competition to force them into submission? After living a pure, no-drinking, no-smoking, no-seeking of pleasure of the flesh, how did he embrace taking long drives with young women flanking him on both sides after his wife died?
Who would benefit from reading this book?
This is a great book for middle and high schoolers and students of history. Additionally, all who transact business, law, and politics should read this work and assess where we are in innovation and life values, and what we can learn from our history to make a better future.
What I got out of the book. Insights and takeaways.
This book raises a lot of questions for reflection. How could a devout Baptist man who lived a life of austerity, no drinking or smoking, and without the pursuit of the pleasures of the flesh pursue wealth with such ruthless determination? Whom did he trust and why, to do what kind of work for him? What did he give in return for his faith and trust? Were there lines that he would not cross? How did he reconcile the buying of elections and coercing his competition until it capitulated?
The press and public demonized Rockefeller for being cold and rich. He valued preserving hard-earned wealth and disliked ostentatious displays of wealth. He did not indulge his family or children in a lavish lifestyle and hated those who made obscene displays of wealth. Still, did his personal values of frugality and thrift justify the brutality to dominate and eliminate his competitors?
John Rockefeller’s rise as the powerful force that single-handedly erected America’s biggest global oil brand, Standard Oil, with admirable grit and personal courage is an inspiring story about personal discipline and faith, commitment and innovation, and trust and collaboration. He also created tens of thousands of jobs. Should his egregious behaviors that unfairly beat competition be overlooked or rebuked?
Leadership is a complex phenomenon, where every leader has unique and special fingerprints, and progress is framed within the regulations, forces, and values of the era. In an era of no regulations about fairness or fair play in business, what is acceptable and what is not? In Rockefeller’s case, the government did legislate laws to level the playing and limit predatory and intimidating behaviors.
Takeaway Questions.
We must each ask ourselves:
– What is the value of wealth in my life?
– What would I give for how much?
– Whom would I work with or not work with if my values of faith, family, priorities, and wealth don’t match?
– How far would I go to beat the competition with fair or unfair means?
– What’s the value of my word and commitment?