Antibiotics“I did not invent penicillin. Nature did that. I only discovered it by accident.” Sir Dr. Alexander Fleming Few medical discoveries impacted life expectancy and quality of life more than antibiotics. Before their discovery, simple wounds were often fatal. For example, during the US Civil War, most soldiers eventually died from infection, not from their … Continue reading "Antibiotics"
SecuritizationSecuritization enables income streams of pooled loans, reducing overall risk to lenders. This spreads the risk of both prepayments and defaults, lowering the cost of credit. Background Denmark created pooled mortgages, called covered bonds, in 1850. Switzerland followed in 1930. In 1970 US government pseudo-agency Ginnie Mae (GNMA) created the first securitized pool of home … Continue reading "Securitization"
Binary TheoryIn 1935 theoretical mathematician Alan Turing proposed a machine that would use a series of on and off switches that could represent or compute anything. Turing joined the war effort to build mechanical computers that decrypted Enigma messages. Eventually, he helped with electronic computers. His theories underpin all modern computers. Subsequently, Turing envisaged reasonably sentient … Continue reading "Binary Theory"
Transistor RadioDeveloped in 1947 but commercialized in 1954, transistor radios are small. Battery-operated portable radios that fit in a pocket. They rely on transistors rather than vacuum tubes. There were several attempts to build radios with transistors but none were optimal until 1954. Eventually, a Texas Instruments team invented the Regency TR-1, the first radio miniaturized … Continue reading "Transistor Radio"
Safety ElevatorBefore Otis’ elevator buildings were effectively limited in height. Builders could build higher, but nobody was willing to climb too many stairs. Otis’ safety elevator reduced the cost of living and working at high levels in buildings. Background While working to clean an old factory, Otis created a safety catch for hoist, a platform to … Continue reading "Safety Elevator"
DialysisDialysis machines do the work of kidneys, cleaning the blood of impurities. After two years of experimentation on terminal patients, 15 who died, Kolff successfully kept a woman suffering renal failure alive with his “artificial kidney” dialysis machine. After WWII he donated the machines to hospitals around the world then immigrated to the US in … Continue reading "Dialysis"
Polyethylene PlasticPolythene (PE) is the world’s most common plastic. Plastic bags, packaging cups, plates are all made from polyethylene plastic. Only carbonated beverage bottles use a different type of plastic because PE does not expand well. Despite its ubiquity today, PE has an odd history. It was an accidental discovery by Reginald Gibson and Eric Fawcett … Continue reading "Polyethylene Plastic"
Credit CardMerchants have always issued credit in one form or another directly to customers. But the idea that a bank would issue credit to purchase anything then, eventually, collect from their customer is newer. In 1946, after WWII, John C. Biggins invented the first universal credit card, called “Charg-It.” However, the card only worked at participating … Continue reading "Credit Card"
Mass Market Broadband Internet (DSL & Cable Modems)Broadband definitions continually change, but in 2017 the US definition of broadband is 25Mbps (megabytes per second) downstream and 3Mbps upstream. This is fast enough to stream music, movies, web surf, and read blurbs on innowiki. Background Early internet users used slow dial-up modems. The last mass-produced dial-up model ran at 56Kbps, about 1/450th the … Continue reading "Mass Market Broadband Internet (DSL & Cable Modems)"
No-Till FarmingNo-till farming is an agricultural process where crops are planted over the prior crop without tilling. Background Since ancient times, farmers believed in the necessity of turning over the soil before planting. Shovels or plows turned over the prior crop, exposing the soil the next crop. Their belief was based on the idea that agricultural … Continue reading "No-Till Farming"
Refrigerated Trucks1939 Frederick Jones Refrigerated trucks, invented by Frederick Jones, enable modern commerce. Jones is somewhat of an innowiki aberration in that he 1) invented something useful with enormous impact, 2) successfully commercialized it, 3) managed to keep the business and build it out, and 4) was a minority. We’d like to have a long list … Continue reading "Refrigerated Trucks"
Laser PrinterLaser printing is the only Xerox research project to generate significant revenue and profit for the company. However, it predates PARC. Subsequently, most Xerox laser printing revenue came from licensing the technology to other firms. Despite their success in the enterprise market and strong brand Xerox never built a widely used Xerox-brand laser printer. Background … Continue reading "Laser Printer"
About MichaelInnowiki founding member Michael Olenick is currently an executive fellow at the INSEAD Blue Ocean Strategy Institute, on the Fontainebleau, France campus. Michael has worked closely with Chan Kim and Renée Mauborgne since 2001, before the book Blue Ocean Strategy came out in 2005, when it was articles in Harvard Business Review. Michael learned about … Continue reading "About Michael"
Health InsuranceBackground Germany has the oldest health insurance system, the Sickness Insurance Law of 1883. Employers paid one-third and employees two-thirds. The insurance covered both medical treatment and sick leave. In 1911, the UK created basic health insurance. Russia followed in 1912, nationalizing all healthcare after the Russian Revolution of 1917. Most countries rolled out some … Continue reading "Health Insurance"
Military TankTowards the late 1800s, Europeans and Americans both worked on the idea of a tire tread. They realized a treaded machine would be useful on rougher terrain. The Holt Manufacturing Company, later renamed Caterpillar, perfected and patented a working tread in 1904. While engineers experimented developing working treads for tractors their use in war was … Continue reading "Military Tank"
