The Industrial CapitalistAmerican industry is being rebuilt. This is the record of who is doing it.
A second industrial age is under way, on the pad, in the shop, along the pipeline, and in the plants coming back to American soil. The Industrial Capitalist is a journal, a podcast, and a private assembly for the builders leading it. We begin with energy, the industry that powers all the others.
The country is building again. New plants, new pipelines, new yards, new crews, and a generation of owners putting their names on the loan documents to make it happen. It has been chronicled by outsiders for too long. We start in the oil patch, where the rebuilding began and where it runs on relationships, patience, and physical courage. What we build for these people becomes the template for every industry that follows.
One email a week. Worth the minute.
What moved on the pad, who we spoke to, and the number that mattered. No advertising, ever.
Weekly. Leave any time. About The Ledger · Privacy
The Record
Long-form conversations with the people rebuilding American industry, on the record. Each season goes deep on one industry.
The first conversations are being recorded now. The episode list will appear here.
The words of the trade, in plain language.
Explainers for the pad, the shop floor, the job site, and the bank. Written by people who use them.
-
What is a seller note?
A seller note is the part of the purchase price the seller lends to the buyer. Why it appears in most small industrial deals, how it is structured, and what it signals.
-
What is an SBA 7(a) loan?
The SBA 7(a) is the loan most small industrial businesses in America are bought and equipped with. How the guarantee works, what lenders look for, and where it fits.
-
Oilfield services and rentals, explained
Most of the people on a pad work for a service or rental company, not the operator. What those businesses are, how they are paid, and what it takes to build one.
The Assembly
Salon dinners
Once a quarter, by invitation only. Twelve seats, each hand-selected from the thought leaders across the pad: one anchor operator and eleven rising builders. The guest list is never published.
The tableThe Summit
An off-the-record annual gathering of American energy’s builders and the capital behind them.
The gathering
An institution built to endure,
and to grow.
Membership is by invitation.
We admit the people rebuilding American industry, beginning with energy. As new desks open, the room grows. The standard does not.
Request an introduction