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• Case | HBS Case Collection | January 2019

  Jay Gould, 'The Most Hated Man in America'

  Tom Nicholas, John Masko and Matthew G. Preble

  Railroad magnate Jay Gould, a controversial figure in the history of U.S. capitalism, was a disruptive influence on an industry that had previously relied on formal and informal agreements to move traffic long distances across lines operated by different companies. Gould and his competitors replaced these agreements with consolidation and system-building, a process which led to the rise of government regulation of railroads in the 1880s and to widespread railroad bankruptcies in the 1890s. This case explores the growth of early American railroads, places Gould’s career in context (including his famous attempt to corner the U.S. gold market), and demonstrates the implications of his activities on competitive dynamics in the railroad industry.

  Keywords: railroads; history; Gould; Vanderbilt; Rail Transportation; History; Consolidation; Governing Rules, Regulations, and Reforms; Competition; Strategy; Rail Industry; United States;

  Citation:

  Nicholas, Tom, John Masko, and Matthew G. Preble. "Jay Gould, 'The Most Hated Man in America'." Harvard Business School Case 819-006, January 2019.  View Details

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• Case | HBS Case Collection | October 2018 (Revised October 2018)

  Masayoshi Son and the Vision Fund

  Tom Nicholas, Ramana Nanda and Benjamin N. Roth

  In October 2016 SoftBank Group Corp., the Japanese conglomerate giant caused a significant shock to the worldwide market for venture capital and private equity by announcing the Vision Fund, the largest tech investment fund in the world at close to $100 billion. The reputation of legendary SoftBank CEO Masayoshi Son depended on the success of the Vision Fund, a considerable challenge given the difficulties associated with organizing a large pool of capital, investing at scale and generating VC-style returns. By effectively anointing category leaders and deterring competitive entry, would the Vision Fund accelerate innovation or undermine the market forces that have typically produced social value by spurring rapid technological change?

  Keywords: strategy; Venture Capital; Private Equity; Entrepreneurship; Competitive Strategy;

  Citation:

  Nicholas, Tom, Ramana Nanda, and Benjamin N. Roth. "Masayoshi Son and the Vision Fund." Harvard Business School Case 819-041, October 2018. (Revised October 2018.)  View Details

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• Case | HBS Case Collection | December 2011 (Revised September 2018)

  The Indian Removal Act and the 'Trail of Tears'

  Tom Nicholas, Ari Medoff, Raven Smith and Sam Subramanian

  Native Americans were subjected to a protracted and painful process of forced removal from their land. The case provides "first hand" evidence on the debate over Indian removal as it took place during the early nineteenth century. The first document is excerpted from Andrew Jackson's First Annual Message to Congress in 1829 and the second document from Jackson's Second Annual Message in 1830, the year the Indian Removal Act was passed. The third and fourth documents cover the Congressional debate over the relocation of Indians, which led to strong partisan splits and divisions between the North and the South. Document three is excerpted from Whig Senator Theodore Frelinghuysen of New Jersey's six-hour speech to Congress opposing Indian removal. Document four is excerpted from a speech by Senator John Forsyth, a Democrat and former Governor of Georgia who spoke in response to Senator Frelinghuysen's remarks. A final document presents the Cherokee perspective and the reasons for their opposition to removal as represented by a memorial letter, written to the United States Congress in 1829. A statistical portrait follows the documentary evidence.

  Keywords: Native Americans; History; Laws and Statutes; United States;

  Citation:

  Nicholas, Tom, Ari Medoff, Raven Smith, and Sam Subramanian. "The Indian Removal Act and the 'Trail of Tears'." Harvard Business School Case 812-079, December 2011. (Revised September 2018.)  View Details

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