Modern Day Gold Rush

The discovery of gold nuggets in the Sacramento Valley in early 1848 sparked the Gold Rush, arguably one of the most significant events to shape American history during the first half of the 19th century. As news spread of the discovery, thousands of prospective gold miners traveled by sea or over land to San Francisco and the surrounding area; by the end of 1849, the non-native population of the California territory was some 100,000 (compared with the pre-1848 figure of less than 1,000). A total of $2 billion worth of precious metal was extracted from the area during the Gold Rush, which peaked in 1852.

To accommodate the needs of the ’49ers, gold mining towns had sprung up all over the region, complete with shops, saloons, brothels and other businesses seeking to make their own Gold Rush fortune. The overcrowded chaos of the mining camps and towns grew ever more lawless, including rampant banditry, gambling, prostitution and violence. San Francisco, for its part, developed a bustling economy and became the central metropolis of the new frontier.

Fast forward to the 21st Century and a new gold rush is taking place. As Charles Morgan, author of Matters of Life and Data, puts it: “Data mining is the new gold rush, and we were there at first strike, dragging with us all our human frailties and foibles. In this book’s cast of characters you’ll find ambition, arrogance, jealousy, pride, fear, recklessness, anger, lust, viciousness, greed, revenge, betrayal, and then some.”

Morgan, the Founder, Chairman & CEO of Acxiom Corporation (NASDAQ: ACXM), world leader in data gathering and its accompanying technology, grew Acxiom from an early-stage company to an international corporation growing to $1.4 billion in annual revenue during his tenure as CEO from 1972 to 2008.

If you’d like to hear the inside story of this 21st century gold rush from one of the key players, join us on June 30th for our Soundview Live webinar with Charles Morgan titled The Remarkable Story of a Big Data Visionary. You’ll get the inside scoop of the good and bad players in the data industry, as well as learning about how this data gold rush is affecting our business and personal life.

 

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