June 9, 2004
Laying Cable
Certain close friends understand my propensity to obsess on certain things. My latest obsession, which actually goes back twenty years in some way shape or form, is the laying of the Transatlantic Cable. Listen: that was the Civil War era equivalent of the Apollo Project.
One crazed venture capitalist/entrepeneur made it happen. Cyrus Field raised four separate small fortunes attempting this feat over 9 years. Why did he fail the first three times? Just like Apollo: the technology couldn't keep up. He had to help invent the fucking technology of the waterproof submarine cable, and the vessels able to lay 1,800 miles of the shit.
Too cool. All in the face of disdainful governments who wouldn't lend a hand. Why did he do it? He wanted skinny on the European stockmarkets. In 1866 it took a week at best for news to travel across the Atlantic. Cyrus figured if he could get it in a matter of minutes he could jimmy the markets and reap large coin. He was the original quant.
Greed is good, people. Greed makes it happen. Greed creates jobs, and wealth.
I always thought the Cable was a monstrous pipe, 10 or 12 inches in diameter. Seems it was only about 3 inches in diameter, as it only had to house a copper line. There is glory for us fellows yet, apparently.