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his virulent prejudice must have been unusual or autochthonous. On the contrary: Racism was the foundation for California’s prosperity.

The “13 million horses × $100” calculation is the kind of disruption math that twenty-first-century start-ups use to persuade venture capitalists to sink millions into protean projects

Away from the Associates, Stanford came into his own in Palo Alto. Never all that interested in railroads (or really anything in particular), he finally found something worth his time: horses. The nouveau riche hobby of breeding racehorses captured his attention in a way that other business didn’t.…