Andrew Carnegie and John D. Rockefeller, having built vast fortunes in the Gilded Age through US Steel and Standard Oil, turned to funding science as private philanthropists. Rockefeller established his Institute in 1901, and Carnegie followed with his own Institution in 1902, partly in response. This marked the start of organized private philanthropic funding for science in the United States, a model that would go on to support many later scientific discoveries.
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The hosts mention having visited the Carnegie Institution's site in Pasadena.
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31:36We are finally moving in to what is sorry the 20th century. I think I said the 19th century earlier. 1901 the establishment of Carnegie and Rockefeller philanthropies. We've made too much money. No French Revolution here. Yeah, they've made a lot of money right with the guilded age. Um Rockefeller with Standard Oil, Andrew Carnegie with US Steel. And then they have effectively a competition for who can donate the most which honestly is the best type of competition. >> Right. >> Okay. Um Andrew Carnegie in established the Carnegie Institution in 1902 and
32:17that was a response to Rockefeller establishing the Rockefeller Institute in 1901. This marked the birth of organized private philanthropic science. funding in the US. We've been to Carnegie Foundation here in Pasadena. We're going to go through so many discoveries made by both the Carnegie Institution and the Rockefeller Institute. And this is really the genesis. So now you can see in the 1900s, I mean, maybe somebody in the comments keep track of how many >> of the next um points are going to come from these two institutions. I just want to note if you're still listening and you're loving this episode to support the pod, like, share, follow. If you
33:00want to support us monetarily, you can donate at ffpod.com/donate. This is one of my favorite episodes. We