Business History

George Washington’s Trusted Tavern Guide: The Birth of the User Review

When America’s first president set off to tour his new country, he had no idea where to stay. George Washington slept in some taverns he described as dirty and grim, but also stayed at some delightful inns. In the 1790s, there was no way for travellers to share tips on the nice places to sleep and those to avoid. Fast forward to today and the rise of peer-to-peer services where we book a car ride, rent a vacation home or bid in an online auction, and the same trust problem occurs. How do we know we can rely on a vendor we’ve never met? And how can we praise good customer service with a glowing recommendation? That's why the user review was created. Write to us at businesshistory@pushkin.fmSee omnystudio.com/listener for privacy information.

The DeLorean Saga: Fraud, Drug Deals and Marty McFly's Car

This is a special crossover episode with Cautionary Tales with Tim Harford. John DeLorean was a top car executive - but he was too maverick to fit into the oppressive corporate culture of GM. He wanted to make a new and exciting sports car - a futuristic stainless steel marvel with distinctive gull-wing doors (which found fame in Back to the Future). He just needed someone to give him millions of dollars to get started. The British government agreed to foot the bill, but only if DeLorean built his factory in a troubled part of Northern Ireland. The cars coming off the production line were beset with problems and sales slowed down. Company finances were also strained by DeLorean's spendthrift ways and brazen theft. Finally, someone offered DeLorean a lifeline if only he'd come in on a cocaine deal. Write to us at businesshistory@pushkin.fmSee omnystudio.com/listener for privacy information.

The Tangled Story of Instant Ramen

Momofuku Ando told the world he invented instant ramen noodles in a shed in his backyard. In Japan, there's not one, but two museums celebrating this breakthrough. Only Ando wasn't the first person to flash-fry noodles to preserve them - but he was willing to sue any rival ramen maker. Ando had suffered repeated business failures and even been jailed for tax fraud - but he created an origin story for his instant noodles so compelling that it helped him build a convenience food empire that sent instant ramen everywhere on earth and finally into space. Write to us at businesshistory@pushkin.fmSee omnystudio.com/listener for privacy information.

Billy Beer: When American Beer Hit Bottom, Then Bounced Back

President Jimmy Carter had a brother, and this brother LOVED beer. Billy Carter was a big 1970s celebrity and a struggling brewery decided to bet on him to revive its fortunes. Together they created Billy Beer and launched a huge ad campaign. The beverage was a global sensation... except nobody including Billy liked the taste. Billy Beer was a flop. Billy Beer was emblematic of American brewing at the time. It was all bad beer and gimmicky marketing. Coincidentally, it was Jimmy Carter who would change that. He signed a new tax law that kickstarted the craft beer revolution which brought us some of modern America's most popular brews. Write to us at businesshistory@pushkin.fmSee omnystudio.com/listener for privacy information.

The Printing Press: The Invention Built on Debt and Sin

Before 1450, books were written out by hand. It was slow and expensive. But Johannes Gutenberg borrowed a ton of money to create a printing press that could crank out Bibles and pamphlets and documents in huge numbers. Science, politics and philosophy were all up-ended. For example, the Catholic Church seized on the invention to sell special certificates absolving people of their sins - a move that made money, but caused a permanent schism in Christianity. And Gutenberg too found himself in trouble - when a financier sued the inventor to reclaim his loan, plus interest. Write to us at businesshistory@pushkin.fmSee omnystudio.com/listener for privacy information.