DeepSummary
In the 1960s, Norwegian Cruise Line, Royal Caribbean, and Carnival were founded within six years and began battling to become the biggest and best cruise line. Initially, Ted Arison started Norwegian Cruise Line with his friend Knut Kloster after acquiring ships and bookings from another company. Around the same time, Ed Stephan designed a new type of fuel-efficient cruise ship and founded Royal Caribbean with investors.
Carnival was started by Arison after a financial dispute with Kloster led to Arison essentially stealing money from Norwegian and fleeing. Despite the dubious beginnings, all three companies saw massive growth in the burgeoning cruise industry by offering affordable cruises with plenty of onboard entertainment and activities.
The episode details the cutthroat competition and shady business tactics employed by the swashbuckling CEOs as they raced to dominate the lucrative cruise market over the following decades.
Key Episodes Takeaways
- The modern cruise industry was sparked in the 1960s by a few ambitious entrepreneurs.
- Norwegian Cruise Line, Royal Caribbean, and Carnival were founded within a few years and battled fiercely for dominance.
- The founders employed underhanded tactics like theft, shady accounting, and backroom deals to grow their companies rapidly.
- Cruise lines shifted from utilitarian ocean travel to vacation destinations with abundant entertainment and amenities.
- Bitter rivalries and legal disputes marked the early years as the companies raced to capitalize on cruising's mass popularity.
- Visionary ship design and aggressive marketing helped the upstarts attract travelers and expand globally.
- Cruising boomed from a niche retirement activity to a global, multibillion-dollar industry in just decades.
- The episode portrays the founders as uncompromising, ruthless businessmen obsessed with crushing the competition.
Top Episodes Quotes
- “This is our only ship. Don't be so literal.“ by Ted Arison
- “I have one condition. I say it. Anything. You have to guarantee me half a million in profits a year. If you don't hit that benchmark, our agreement is void.“ by Knut Kloster
- “You need to transfer all of the fees for future cruises into the norwegian accounts immediately.“ by Knut Kloster
Entities
Company
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Episode Information
Business Wars
Wondery
7/3/24
In 1950, an enterprising Miami businessman has the idea to use a passenger liner to ferry retired Floridians to the Caribbean. He makes their time on board the ship as much a part of the appeal as the destination. Modern cruising is born, but it’s still just a small niche activity.
But in the 1960s, a group of ambitious men in both the United States and Europe sees huge potential in this form of vacation travel. Within six years Norwegian Cruise Line, Royal Caribbean, and Carnival are all founded. They spend the next 60 years battling to be the biggest and best cruise line in the world.
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