Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

The corporation that transformed the Victor works into such an industrial giant, the Radio Corporation of America, began in 1919 as a government-supported monopoly financed by the biggest names in the electrical industry. Before World War I, the wireless communications industry had been foreign-owned and chaotically organized, but when the United States committed itself to the war effort, President Woodrow Wilson placed the industry under the monopoly power of the U.S. Navy. Although the government did not, as some people advocated, establish absolute control over the industry, it did facilitate the creation of the Radio Corporation of America as a patriotic "marriage of convenience" of private electrical corporations as a way to keep wireless communication in American possession and to develop it for the national good.

Under an agreement to pool patents and capital forged by General Electric's Owen D. Young, the ownership of RCA belonged to GE (30.1 %), Westinghouse (20.6%), AT&T (10.3%), and United Fruit (4.1 %), with a variety of other holders accounting for the remaining 34.9 percent. The agreement also stipulated that RCA would sell radio equipment manufactured by its principal owners, which the new corporation could purchase from the parent corporations on a simple formula of cost plus 20 percent. As early as 1926 RCA broadened its original plan from "narrowcast" communications to public "broadcast" by organizing the National Broadcasting Company (NBC). The growing network of radio stations formed in the 1920s helped to make RCA one of the key growth stocks during the heady investment years of the Jazz Age, but it was actually manufacturing and licensing of patents that made RCA the instant giant of the communications industry.

im sorry what??? united fruit??

—p.13 In Defiance of Their Master's Voice: Camden, 1929-1950 (12) by Jefferson R. Cowie 3 years ago