[2] Ricardo was a leader of a group of businessmen who, in 1845, purchased the patents for the electric telegraph designed by Cooke and Wheatstone.
Ricardo was Electric Telegraph's largest shareholder, and its executive chairman, for its first 12 years.
[3] His goal was to build a network that would distribute breaking financial news to his own newsrooms adjacent to all British stock exchanges—an information monopoly that would be valuable to speculators and investors.
However, when the established telegraph companies formed monopolistic cartels and raised prices to newspapers, Ricardo secretly switched sides and campaigned for their nationalization.
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