Commodore used several strategies to become successful in his business ventures. He used competitive pricing to undercut rivals to a point where they had to either give in or buy him out. He saved the cash he earned and would lend it out to earn interest or invest in hard capital like more boats or real estate. He built his own steamboat fleet, ships, and even a canal to ferry passengers and mail from New York to California during the gold rush. He never had a debt and never bought anything on credit, being economical almost to extremes. Later, he swapped his captain's hat for a conductor's hat and acquired controlling stakes in two New York-based railroads, eventually controlling all the railroads between New York and Buffalo.
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