Options & Futures“I’ll gladly pay you Tuesday for a hamburger today,” cartoon character Wimpy Wellington repeatedly offers. If he worked as an options trader he’d probably say “I’ll gladly pay you 1/10th the price of a hamburger today if I can buy a hamburger, sometime in the next year, at the price they are today.” You’d answer: … Continue reading "Options & Futures"
Matches1827 Friction matches are ordinary matches. Strike them against a flint or, for some types, any hard service and they start a fire. Friction Matches were invented by Englishman John Walker in 1827. While it seems hard to believe it took so long before the innovation of matches by Walker people would have to find … Continue reading "Matches"
Just-In-Time ManufacturingJust in time manufacturing delivers the parts required to complete a product shortly before they are needed. Accordingly, this vastly reduces inventory cost while typically increasing quality by aligning the manufacturing needs of part suppliers and the final manufacturer. Background Toyota engineer Taiichi Ohno needed a better way to manufacture. Specifically, efficiency was low and … Continue reading "Just-In-Time Manufacturing"
Wi-FiIn 1941, Hollywood actress Hedy Lamarr devised a system and submitted a patent for radio signals that changed frequencies. Background Hedwig Eva Maria Kiesler (Heidi Lamar) was born in Vienna. She is most famous as the first woman to appear nude in a mainstream film. In the same movie, she was also the first woman … Continue reading "Wi-Fi"
DefibrillatorClear! Defibrillators are the electric paddles that restart hearts. In 1957, Dr. Pantridge and Dr. John Geddes invented cardiopulmonary resuscitation (CPR). Eventually, he went on to innovate a portable defibrillator that weighed 70kg and ran from car batteries, installing it in a Belfast ambulance. No sooner did the devices prove effective then, by 1968, they … Continue reading "Defibrillator"
World Wide WebTim Berners-Lee worked at the European Organization for Nuclear Research (CERN). Background The internet was about 20 years old and connected many computers. However, once connected between computers, users searched for the material, an oftentimes odious task. Furthermore, many computers required logins. Think of the pre-web internet as a series of libraries without central directories. … Continue reading "World Wide Web"
DynamiteDynamite blows up otherwise difficult to move things, like boulders, mountains, and bedrock. It lowers the cost of removing rocks to make level land and tunnels, railroads, roads, and enables foundations for skyscrapers. In 1847 chemists Théophile-Jules Pelouze and Ascanio Sobrero had synthesized nitroglycerin but the chemical was unstable and difficult to harness. Nobel encased … Continue reading "Dynamite"
Viagra (Sildenafil)It’s hard to write seriously about Viagra. No sooner did the drug help erectile dysfunction than it opened the opportunity for countless puns. Additionally, the name of co-inventor Albert Wood worsens the situation. However, in hindsight, Viagra cured a serious problem. Background Wood and Viagra co-inventor Peter Dunn were working on a blood pressure medicine. … Continue reading "Viagra (Sildenafil)"
Gas MaskGas masks lower the risk of damage for firefighters and soldiers. Garret Morgan, the son of freed slaves, developed an early gas mask for use in fires. Hoses dragged along the ground where air was cleaner, because smoke rises. There was also a 15-minute air supply for when air became hopelessly polluted. Patented in 1914, … Continue reading "Gas Mask"
Traffic SignalA manually-controlled gas-powered light-switch on London Bridge was the first traffic signal. It was never popular and, in 1869, exploded and hurt the policeman controlling the switch. Subsequently, there were countless versions of semaphore lights to control traffic. None gained commercial acceptance. Morgan, who invented the gas mask, also invented and patented the modern traffic … Continue reading "Traffic Signal"
Broadcast NewsThe Scripps newspaper family-owned, among other newspapers, The Detroit News. They noticed when the Titanic sunk, in 1912, that radio sent the news far faster than telegraphs or telephones. An Experiment In 1920 radio was for what today we’d call early adopters. There were few broadcasts and most of those were sporadic broadcasting of recorded … Continue reading "Broadcast News"
Protease InhibitorsHistory They first called it gay men’s cancer. Then announced it affected intravenous drug users. People became skeptical when they added Haitians as a risk factor. Being gay, a drug user, or black was a death sentence? My openly gay high school English teacher became sick and quickly died in the middle of a semester. … Continue reading "Protease Inhibitors"
Controlled Drug DeliveryControlled drug delivery is a simpler and more convenient way to slowly release drugs than taking low-dose pills or injections at frequent intervals. Additionally, it also lowers the risk of incorrect dosage. Zaffaroni invented controlled (slow) release drugs, mimicking the way the body releases hormones. Eventually, he created many pharma companies that went on to … Continue reading "Controlled Drug Delivery"
Industrial RobotThough understated at the time, few inventions have had as much impact as the industrial robot. Industrial robots were invented by George Devol. A prolific innovator, Devol patented the “Unimate” – a term he coined – in 1954 to name his robot. Robots have existed in science fiction for ages, often as machines in human … Continue reading "Industrial Robot"
Mass Manufactured Soft DrinksBackground John “Doc” Pemberton was an Atlanta chemist. After the Civil War he, like many chemists of the time, used coca-derived “wine” as a prescription for various ailments, real and imagined. Some of the wines contained distilled coca leaves, which cocaine is made from. Others contained the less expensive already distilled cocaine. Cocaine during this … Continue reading "Mass Manufactured Soft Drinks"