Bethlehem Steel high-speed steel and rolled I-beam innovations (c. 1900)
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Charles Schwab breaks from Carnegie, founds Bethlehem; two innovations — molybdenum high-speed steel for drill bits, and rolled (vs. riveted) I-beams enabling skyscrapers.
It typically has molybdenum or tungsten. What is high-speed steel? Not everybody knows. High-speed steel was invented — actually, there were two things that made Bethlehem Steel the world's second-largest steel company. Andrew Carnegie started a firm called U.S. Steel, and he had a guy working for him, Charles Schwab, who was sort of the operations head of U.S. Steel. Schwab decided to go to Bethlehem, Pennsylvania, and found this little iron foundry, and started it. This is around 1900. He broke away from Andrew Carnegie, and they learned to do two things at Bethlehem Steel that allowed them to grow rapidly.