- Ticker History
- Posts
- Railroads Get Regulated, The NASDAQ Opens, and Amazon Prime Changes Everything
Railroads Get Regulated, The NASDAQ Opens, and Amazon Prime Changes Everything
Welcome to This Week In Ticker History, where every stock has a story
David Prince
February 04, 2025
Are you a ChatGPT, Claude, or Perplexity user? Maybe you prefer DeepSeek (and don’t care about data privacy)?
Choosing an LLM in 2025 is like choosing…
… a video game console in 00’s (Playstation all the way)
… choosing a long-distance phone provider in the 90’s
… a video format (VHS vs. BetaMax) in the 70’s and 80’s
… a television in the 60’s
… a dishwasher in the 50’s
… a music format in 40’s (33, 45, or 78 rpm vinyl?)
… a radio in the 30’s.
History doesn’t repeat itself, but it sure does rhyme.
Life is good. Stay bullish.
Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies.
First, a quick note from our sponsor.
Fall in love with BILL. Get a $200 gift card.
We love our customers—and the feeling is mutual! Take a demo of BILL Spend & Expense and get a $200 gift card to one of our amazing customers- Saranoni Blanekts, Rhone Apparel, or BrüMate.1
1Terms and Conditions apply. See offer page for details.
Card issued by Cross River Bank, Member FDIC, and is not a deposit product.
February 4, 1887: The Interstate Commerce Act Changes Railroads Forever📅
The American economy in the late 1800’s was booming.
Railroads crossing the country allowed for goods to be shipped further and faster than ever before, and businesses and railroad owners reaped the benefits.
It wasn’t good for everyone, though.
Railroad companies often engaged in price gouging, discrimination in freight charges, and monopolistic behaviors. Small businesses and farmers faced higher shipping costs, as railroads would give preferential rates to larger companies or those who could provide “influence” (money).
Regulation had been attempted at the state level as early as 1871, though states weren’t able to enforce action over interstate commerce.
A political cartoon from the early 1880’s showing railroad owners ignoring the needs of their customers.
The Interstate Commerce Act of 1887 established the Interstate Commerce Commission (ICC), the first federal agency designed to regulate private industry in the United States. The ICC had the authority to oversee railroad rates and practices, ensuring they were "just and reasonable."
This was the first time the federal government took direct action to regulate a specific industry and established precedent for government intervention in other industries in the years that followed.
 The seal of the Interstate Commerce Commission, created in 1887. |  The original bill, signed by President Grover Cleveland, passing the Interstate Commerce Act. |
Nearly 70 years later, the Interstate Commerce Act would be the inspiration for the Federal Aid Highway Act, creating interstates across the country to facilitate trade.
This Week In Ticker History 📅
February 3, 2005 Amazon announces “Prime”, a membership program offering unlimited two-day shipping for an annual fee of $79. Prime redefined customer expectations for speed and convenience in online shopping and created a loyal customer base. |  Amazon CEO Jeff Bezos in 2005 after ten years in business. |
February 6, 2018 SpaceX successfully launches the Falcon Heavy, the world’s most powerful operational rocket at the time, from Kennedy Space Center in Florida. The mission carried Elon Musk’s Tesla Roadster into space, complete with a mannequin named “Starman” seated inside. Last week, astronomers at Harvard declared they had discovered a new asteroid. It turned out to be the Tesla Roadster that was launched into space almost seven years earlier to the day. |  The Falcon Heavy launch was a landmark moment in private space travel.  |
February 7, 2006 Google Maps is officially launched as a web-based application providing interactive maps and driving directions. By 2008, it had introduced Street View, introducing navigation with panoramic imagery, and by 2012, it had mapped over 28 million miles of road in 194 countries. |  The original Google Maps site in 2006. |
February 4, 2004 Facebook was founded by Mark Zuckerberg and his college roommates at Harvard University, initially as a social networking site called "TheFacebook" for Harvard students. Within a year, it reached one million users. |  The first ever profile on TheFacebook from 2004, Zuck himself. |
February 9, 1901 J.P. Morgan acquires Andrew Carnegie’s steel empire for $303 million, marking the start of United States Steel Corporation as public company. This deal cemented Carnegie’s legacy as one of the richest men in history, with his fortune estimated at $475 million at the time, equivalent to over $14 billion today. |  Portraits of Andrew Carnegie, right, and J.P. Morgan, who would respectively build and acquire the first billion dollar company in the world, U.S. Steel |
February 8, 1971 The NASDAQ market opens as the world’s first electronic stock exchange, designed to offer a more efficient alternative to traditional trading floors. By 2023, NASDAQ had grown to include over 3,000 listed companies, with a combined market capitalization exceeding $20 trillion, and is considered the global benchmark for the tech sector. |  A New York Times article breaking the news of the NASDAQ opening. |
A Good Man In The Mines 📅
Mining in the early 1900’s was an exploitative business.
A mining strike in the 1910’s.
Employees worked long hours, had to fill daily quotas, and were paid in scrip- essentially company gift cards- rather than cash wages. Owners were notorious for taking advantage of their employees, and relationships between workers and management were tense.
Jerome Day was different.
A portrait of Jerome Day from the 1930’s.
Day started as a union miner in Idaho and, alongside his brother Harry, claimed the Hercules Mine in Burke, Idaho. A former union member rising to ownership was no small feat, and his experience on the front lines defined his approach to leadership.
His employees were paid fair wages, given regular schedules, and paid in cash rather than company scrip. Day’s mines became some of the most attractive workplaces in the region, attracting top talent.
The success of Day’s mines helped him establish other mines around the region, eventually becoming president of the Idaho Mining Association and the President of the Moscow (Idaho) State Bank.
Jerome Day remains such a beloved figure that the town of Jerome, Arizona celebrates “Jerome Mining Days”, where residents decorate the town to look like it did in the 1920’s and celebrate it’s mining history.
 Jerome residents celebrate Jerome Mining Days. |  A picture of Jerome, Arizona at the turn of the century. |
A man making history by being nice?
It the mining business, it was a big deal.
Looking Forward 📅
That’s old news. What can we look forward to this week?
Chiefs vs. Eagles in the Super Bowl again? Two of the most disliked teams square off for the second time this Sunday, with the country letting out a collective groan.
Earnings season is in full effect, with Alphabet releasing earnings on February 4.
The FED releases the Consumer Credit Report on February 6, detailing changes in American spending habits. How much was that DoorDash service charge again?
If you’re a fan of railroads, mining, and the Old West, check out American Primeval on Netflix.
Valentine’s Day is next week, don’t get caught picking up chocolates from the gas station because you forgot a gift.
Stay safe, stay warm, and stay bullish. |
Like what you read? Don’t forget to comment, subscribe, and share with a friend! Own a piece of Wall Street history. Check out the Ticker History Shop for stock certificates from your favorite companies. |
Reply