Giants of the Utility Industry

I'll bet you have never heard of Samuel Insull and Nikola Tesla (well, maybe you have heard the word "Tesla" if you have taken physics). These two men had huge impacts in the early days of the U.S. electric utility industry. Wikipedia discusses both in detail. Our modern electric power infrastructure and utility industry are directly descended from the creativity of these two men.

Everyone knows of Thomas Edison, but Edison promoted DC electric power. DC power was generated and distributed locally, because of the physical limitations of DC power transmission. Tesla invented the AC motor and generator, allowing the much more efficient AC power to defeat Edison's DC power. Using AC power allowed the development of long-distance high-voltage transmission lines.

Samual Insull worked with Edison as a young man, but split with him to develop central power plants generating AC electric power. This allowed him to create a huge new monopolistic electric utility in Chicago (now Commonwealth Edison). He also invented holding companies, under which he owned electric interurban railroad lines, natural gas distribution companies, and electric utilities. Congress wrote laws regarding monopolies and public utility commissions because of him.