Edison's Illumination: Navigating the Legacy of General Electric
Uncover the electrifying journey of Thomas Edison and General Electric, from inception to the groundbreaking GE Vernova project in 2024.
Thomas Edison, the wizard of Menlo Park, set the stage for General Electric's epochal journey in 1892. The founding of GE marked the inception of a powerhouse, propelling Edison's spirit into a vast conglomerate. His inventive prowess was matched only by his entrepreneurial audacity. Edison's direct current (DC) went head-to-head with Nikola Tesla's alternating current (AC), sparking the famed "War of Currents." Despite Tesla's AC prevailing, GE emerged as a pioneering force in the electrical industry.
Thomas Edison advocated direct current, a more expensive and inefficient system due to dissipation of part of the energy in the form of heat. Nikola Tesla, on the other hand, was in favour of alternating current. The war began. (Endesa)
Src: India Today
Edison's personality, a fusion of innovation and tenacity, permeated the company's DNA. His commitment to research and development became GE's hallmark. Through the decades, GE faced financial turmoil and corporate reconfigurations, with Edison's spirit acting as the North Star guiding the company through adversity.
From Thomas Edison's first commercially viable light bulb to the first x-ray machines, GE researchers have a history of redefining what's possible. GE was there for the first walk on the moon; we created the first television broadcast, the first man-made diamond and the first jet engine. (General Electric)
Src: NYtimes
The involvement of financier JP Morgan in 1892 reshaped GE, marking a crucial turning point. The company faced stiff competition, but Edison's innovative edge and Morgan's financial acumen proved a formidable combination.
The relationship between J.P. Morgan and Thomas Edison is a classic case of high finance. As Edison needed money to fund his work he would give a huge block of stock in his company to Morgan. Eventually the bulk of Edison Electric shares were controlled by the J.P. Morgan.
In 1892, J.P. Morgan arranged the merger of Edison Electric and Thomson-Houston Electric Company to form General Electric. Since Morgan was the majority shareholder in Edison Electric he did not need Edison's permission to agree to the merger. (Quora)
Fast forward to the 21st century, and GE continues to illuminate the world, transcending industries. The company's forays into healthcare, aerospace, and digital technology showcase its adaptability. GE Healthcare, a global giant, pioneers medical innovations. GE Aviation soars as a major player in aerospace, contributing to cutting-edge aviation technology. GE Digital propels the company into the digital era, emphasizing data-driven solutions.
Src: NPR
In 2024, GE Vernova emerges as the next evolutionary leap. Melding GE Renewable Energy, GE Power, and GE Digital into a singular entity, GE Vernova promises to redefine the energy landscape. The scheduled split and IPO underscore GE's commitment to transformation and innovation.
The new name is a combination of “ver” (derived from “verde” and “verdoyant”, to evoke the green and blue of the Earth) and “nova” (from the Latin “novus” or “new”), in reference to the low-carbon energy that GE Vernova will soon bring to fruition . (dzcharikati)
Src: Power Magazine
General Electric's global impact is immeasurable. From illuminating the first bulb to powering space exploration, GE's innovations echo across history. Its influence extends to every corner of the world, shaping industries and advancing technology.
Src: Vietnam investment Review
How has General Electric's legacy illuminated your world?
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