How Business Worked

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‘Money laundering’ wasn’t coined as a term until the 1970s, when the Watergate scandal hit. Since then, the phrase has become a household word, while the crime itself remains a familiar hallmark of criminal enterprises.


During the 1990s, the Bank of New York helped Russia launder capital flight when the USSR broke up.

HSBC was fined almost $2 billion for cleaning the money of drug traffickers, terrorists, and rogue nations like Iran.

Al-Qaeda’s financial operations in the run-up to 9/11 couldn’t have happened without the help of the United Arab Emirates Dubai Islamic Bank. Allegedly…

Even Fortnite isn’t safe.


After some hackers stole lists of credit card details, they bought in-game currency to sell for real cash.

But money laundering isn’t relegated to secret boardroom meetings in flashy skyscrapers.

Take the US candy shops in London.

Over the last ten years, a suspicious amount of American sweet shops have popped up across the capital, including Oxford Street.

As one of the world's busiest streets, the rent here is extremely high. Shops like TopShop, Nike, and Uniqlo have to work hard to cover costs.

Yet similar-looking chains of deserted US candy importers can somehow afford multiple shops throughout the one-and-a-half-mile street.


They even operated during the Covid lockdown when other shops struggled to stay open.

Perhaps to nobody’s surprise police raids have uncovered a staggering amount of illegal goods and cash.

One derelict shop was fronting up to £55,000 worth of illicit goods, including counterfeit chocolate bars.

But where did this all start?

How did we get to a world where money laundering is so commonplace that even average citizens treat it like a joke?

-- Sources --

1 https://www.britannica.com/event/Watergate-Scandal

2 https://www.nytimes.com/2005/11/09/business/bank-settles-us-inquiry-into-money-laundering.html

3 https://www.bbc.com/news/business-20673466

4 https://www.telegraph.co.uk/news/2017/06/21/uae-warned-us-could-end-intelligence-cooperation-911-victims/

5 https://variety.com/2019/gaming/news/fortnite-money-laundering-1203108363/

6 https://www.retailgazette.co.uk/blog/2024/02/american-candy-store-raid/

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#history #business #economy

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Looking at historic economic data can sometimes be a bit… bleak…
Over the last 5 decades wages have been left behind by economic productivity, houses have gone from an essential good to a coveted investment, we are saving less money than ever before, prices for everyday goods have outpaced earnings, The financial industry has become the largest sector in the economy, debt around the world has spiked to unsustainable levels, and inequality has broken new records…
For the first time since the gilded age the top 0.1% in America controls more wealth than the bottom 90% COMBINED.
Elon Musk ALONE recently became the richest person in history, topping even the generous inflation adjusted estimates of John D Rockefeller in his prime… although to be fair John D’s prime lasted a lot longer than musks did…
ANYWAY… all of this data tells a concerning story of a world that is heading in a bad direction, a direction that we have seen end in catastrophe many times throughout history before.
But if you have keen eyes (or you just read the title of this video) you might have noticed that all of these alarming indicators all took a bad turn at around the same time…
Soo what happened in 1971…?

These were vast empires that traded the world’s finest commodities and gave birth to the first multinational corporations.

Well despite what you may have read, Historians agree that most colonies with very few exceptions actually lost money for the kingdoms holding them.

The European empires that controlled these distant lands certainly didn’t do it out of charity, the conditions of the people that were colonized were probably the furthest thing from charitable.

It’s not like this was a failed business idea either. Colonialism dominated the world in one form or another for 600 years, so if it really was a losing idea the empires pursuing it had plenty of time to back out and focus on things that actually would make them wealthy.

So why then did they continue in a business that lost them money, while bringing untold misery to millions?

Well, it’s time to learn How History Works to discover what really went on in the age of empires.


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#history #business #walmart

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Written By: Sam

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Sources


1. https://inthesetimes.com/article/socialism-leigh-phillips-michal-rozworski-peoples-republic-of-walmart
2. https://pricinginsight.com/walmarts-pricing-strategy/
3. https://jacobin.com/2019/03/economic-planning-walmart-democracy-socialism
4. https://americanbusinesshistory.org/how-curiosity-and-humility-built-the-worlds-largest-company-the-sam-walton-story/
5. https://www.profitmagazin.com/editions/number_071.529.html?action=print
6. https://c-suitenetwork.com/articles/how-sam-walton-built-the-biggest-brand-in-the-world/
7. https://loftlegal.com/sam-waltons-pivotal-mistake-how-a-lease-blunder-shaped-walmarts-future/
8. https://rationalwalk.com/made-in-america-sam-waltons-story/
9. https://www.forbes.com/sites/michaellisicky/2021/04/25/from-kmart-to-walmartthe-discount-store-class-of-1962/
10. https://elitebiographies.com/biography/sam-walton/
11. https://hackernoon.com/everything-you-must-know-about-the-business-model-of-walmart-worlds-largest-retail-giant
12. https://pricinginsight.com/walmarts-pricing-strategy/
13. https://www.aft.org/ae/spring2007/wilson
14. https://www.investopedia.com/ask/answers/032415/whats-difference-between-monopoly-and-monopsony.asp
15. https://www.cato.org/commentary/no-walmart-not-evidence-centrally-planned-economies-work
16. https://www.extensiv.com/blog/supply-chain-management/walmart
17. https://en.wikipedia.org/wiki/List_of_largest_employers
18. https://blog.mirrorreview.com/largest-employers-in-the-world/
19. https://www.ibtimes.co.uk/walmart-store-launches-no-quit-program-asks-employees-speak-store-manager-before-resigning-1726691
20. https://www.theatlantic.com/business/archive/2015/06/how-walmart-convinces-its-employees-not-to-unionize/395051/
21. https://www.opensecrets.org/federal-lobbying/clients/summary?id=D000000367
22. https://globalmarketingprofessor.com/walmarts-cross-cultural-failure-in-germany/
23. https://news.sky.com/story/why-walmarts-willing-to-check-out-of-asda-11353638
24. https://www.8thandwalton.com/blog/walmart-foot-traffic/
25. https://www.retaildive.com/news/walmart-prepared-to-fight-back-against-aldi-and-lidl/448631/
26. https://www.investopedia.com/terms/w/walmart-effect.asp

Disney might be more synonymous with Star Wars, Marvel, and theme parks at this stage, but
it’s worth remembering that the entertainment conglomerate had much simpler origins as the
tax entity for an humble animator.

It wasn’t a production company forged by the coming together of seasoned movie execs, but
the snowballing of one guy’s determination to not give up.

Of course, in retrospect, the destiny of Walter Disney seems inevitable - his adaptiveness kept
him one step ahead of competitors and his grit broke through barrier after barrier - but given
how often he came close to giving up, and how often he went broke, it’s worth chronicling his
transformation from freelance cartoonist to cinematic visionary.

So it’s time to learn How History Works as we pick apart the early life and career of Walt Disney,
a man who changed animation forever

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Written By: Sam

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- Sources -

https://dutchreview.com/culture/history/how-rich-was-the-dutch-east-india-company/
https://www.bbc.com/news/business-16611040
https://www.britannica.com/topic/Dutch-East-India-Company
https://www.thoughtco.com/age-of-exploration-1435006
https://www.worldhistory.org/Dutch_East_India_Company/
https://www.investopedia.com/ask/answers/08/first-company-issue-stock-dutch-east-india.asp
https://investoramnesia.com/2022/10/23/legends-of-market-history-isaac-le-maire
https://www.worldsfirststockexchange.com/2020/11/27/going-short-in-1608/
https://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/heeren-xvii
https://historyguild.org/the-impacts-of-corporate-globalization-how-the-dutch-east-india-company-changed-the-world/
https://archive.is/SCf9h
https://dokumen.pub/the-worlds-first-stock-exchange-9780231537322.html
https://www.businesscompendium.co.uk/post/the-rise-and-fall-of-the-dutch-east-india-company
https://www.investopedia.com/articles/07/stock-exchange-history.asp

When people think of the American civil war, images of horseback cavalry with rifles in hand come to mind. Not many people would think of underwater warfare as part of the fight between the North and South.

But submarines didn’t fall out of the sky. In order to become a mainstay in modern naval fleets, they had to start somewhere which meant a lot of brave men risked their lives to produce these underwater marvels.

Anyone interested in tracing the evolution of U-Boats will have to look back as far as the 1800s to see how daring inventors changed war forever.

So it’s time to learn How History Works so see how submarines changed the game in the American Civil War, which will help you understand why they’re such an important asset to global military powers today.

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At this level the very definition of “wealth” becomes a bit abstract.
How do you compare someone who can fund his own space program to someone who PERSONALLY owned Egypt as his own personal property?
No matter how much gold the kings of old could stack up they could never hope to have access to a lot of the modern amenities that we have today.
It gets a bit grey, but unpacking this question is one of the best ways to not only understand what wealth really is, but what it has meant for people throughout history.

--- Sources ----

1. https://ourworldindata.org/grapher/global-gdp-over-the-long-run
2. https://www.reuters.com/business/finance/citigroup-mistakenly-credits-customer-account-with-81-trillion-near-miss-ft-2025-02-28/
3. https://www.livescience.com/4823-ancient-trade-changed-world.html
4. https://www.fastercapital.com/content/Barter-System--Before-Money--The-Age-Old-Practice-of-the-Barter-System.html
5. https://www.thehistorycat.com/world-history-a-27/mansa-musa-and-the-golden-age-of-mali
6. https://ground.news/article/mansa-musa-net-worth-2025-the-richest-man-in-historys-wealth-adjusted-for-modern-times
7. https://www.bbc.com/news/world-africa-47379458
8. https://www.eagblog.org/news/the-geologists-miners-and-geochemists-of-ancient-west-african-merchant-empires/
9. https://romanempiretimes.com/marcus-licinius-crassus-wealthiest-man-history-was-roman/
10. https://sites.psu.edu/pecunia/2025/02/03/marcus-licinius-crassus-and-wealth-accumulation/
11. https://socialstudiesforkids.com/articles/worldhistory/crassus.htm
12. https://roman-empire.net/rankings/top-5-wealthiest-romans
13. https://www.geni.com/people/Alain-Rufus-de-Bretagne-lord-of-Richmond/6000000007692247698
14. https://www.tutorchase.com/answers/gcse/history/how-did-norman-rule-impact-the-english-economy
15. https://senecalearning.com/en-GB/revision-notes/gcse/history/edexcel/anglo-saxon-and-norman-england/2-3-2-changes-in-land-ownership-1066-1087
16. https://guides.loc.gov/chronicling-america-john-rockefeller
17. https://blogs.loc.gov/inside_adams/2020/01/rockefeller-billionaire/
18. https://www.britannica.com/money/John-D-Rockefeller
19. https://www.investopedia.com/updates/history-rothschild-family/
20. https://www.caknowledge.net/rothschild-family-net-worth-forbes/
21. https://theenterpriseworld.com/the-rothschild-family/
22. https://citizenshipbyinvestment.news/index.php/2019/04/25/these-were-the-richest-trillionaires-with-unimaginable-wealth/
23. https://www.thecollector.com/ptolemaic-egypt-annexation-augustus/
24. https://historyandartifacts.com/augustus-caesar-the-wealth-and-power-of-romes-first-emperor/
25. https://www.india.com/viral/this-indian-emperor-controlled-25-of-global-gdp-had-net-worth-of-usd-21-trillion-his-name-was-mughal-emperor-akbar-mughal-empire-wealth-7644458/
26. https://www.britannica.com/topic/zabt
27. https://www.britannica.com/biography/Akbar/Administrative-reform
28. https://www.greatandhra.com/wealth/genghis-khan-net-worth/
29. https://www.richmondfed.org/publications/research/econ_focus/2021/q4_economic_history
30. https://news.artnet.com/art-world/the-hunt-genghis-khan-tomb-2453004
31. https://www.bruegel.org/blog-post/putins-russia-minnow-compared-cold-war-soviet-bloc
32. https://munsifdaily.com/the-10-richest-people-who-ever-live

You’ve seen his face on masks worn by the internet hacking group Anonymous, Occupy protestors, and even the people who stormed Capital Hill. You might even know that this image of rebellion was based on the drawings by David Lloyd from the Alan Moore-penned comic book, ‘V for Vendetta’.

But do you know his name?

This iconic mask didn’t fall out of the sky. So what is the history behind the face that gives Warner Bros a cut every time a mask is sold? What is the story of sparks fear in the heart of every IT team when 4chan hacks them?

Who was Guy Fawkes and why do the British people use fireworks to celebrate his death every year on the 5th of November?

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#HowHistoryWorks #History #GuyFawkes

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