Beginning

The beginning of the Old Kingdom of Egypt there were two parts of Egypt. The man credited with uniting them is named Menes. He placed the capital at Memphis , which would be moved to Thebes. "The ancient Egyptians knew Memphis as the White Wall and described it as the balance of two lands." (Source) Thebes was the main capital for the majority of the middle and New Kingdom.
During the first dynasty, things such as papyrus were invented. This exalted writing to one of the most important reasons that we found all of the Egyptian artifacts, that we have found. The first important Pharoah was named Djoser. Djoser ordered the building of the first pyramid, a step pyramid. The Old Kingdom was really where most of the pyramids were built.
One of the most fascinating things of the Old Kingdom was their wealth. "The building of pyramids would not have been possible without a flourishing economy and a strong central government. Royal estates throughout the country centralised and provided the necessary resources that were needed in the construction of pyramid complexes. This required a powerful administration, both on a local and on a central level, to successfully manage the resources and ensure the flow of supplies, materials and riches to the central government." (Source) The economy of Egypt was ridiculous. They really could not have wanted more.
The Old Kingdom was the main timeframe for the great pyramids that the Egyptians built. These magnificent structures signaled greatness to other countries, and to the Egyptians as well. The greatest pyramid was that of Khufu. He built the most glorious pyramid in the history of Egypt.
When the Old Kingdom started getting into the 7th and 8th dynasties, Egypt began to collapse. There was a famine , high death rate, and civil disorder. (Source) With the climate getting dryer, the Egyptians were doing well to stay alive. This period is now known as the 1st illness. There was fighting for control, which produces the high death rate. This first illness ended the Old Kingdom.