SCUBAEarly bell suits that contained air hoses allowed people to function underwater. These bell diving suits were heavy and dangerous. Later systems relied upon compressed air and regulators, yet these were still large and impractical. In 1942 Nazi-occupied France, Frenchmen Cousteau and Gagnan invented the first practical underwater breathing apparatus, Aqua-Lung. In their system, called … Continue reading "SCUBA"
Charge-Coupled Device (CCD)1969 William BoyleGeorge Smith “We are the ones who started this profusion of little cameras all over the world.” William Boyle Charged Coupled Devices (CCD’s) are a special type of chip that reacts to light. They are inexpensive and especially useful in imagining, enabling digital photography and video. William Boyle and George Smith worked for … Continue reading "Charge-Coupled Device (CCD)"
Franchising & Cross-MarketingBefore McDonald’s King Ray Kroc was born Martha Harper built an enormous franchise empire. At a time few women worked in business, much less founded and owned them, she developed two vital strategic moves. Harper created cross-marketing, the concept where that stores with one purpose can sell related products. Specifically, she created hair salons to … Continue reading "Franchising & Cross-Marketing"
Vaccines (Smallpox)Smallpox was a killer, affecting royalty and peasants alike. When it didn’t kill, it oftentimes left victims permanently maimed. Besides eventually eradicating smallpox, this vaccine led to the development of future ones. Background Jenner was born to a wealthy and well-educated family. Like many during his time, he was inoculated for smallpox, a process where … Continue reading "Vaccines (Smallpox)"
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"
Prefabricated Housing ComponentsHistory Limited amounts of prefabricated components date back to ancient times. Mesopotamian’s used burnt clay bricks. Romans utilized concrete molds for aqueducts and tunnels and William the Conqueror conquered the concept. There were movable modular buildings for industry, defense, and even hospitals. However, hand construction was the norm for the vast majority of houses and … Continue reading "Prefabricated Housing Components"
Branch BankingBranch banking allows ordinary people to utilize banks and theoretically makes banks safer since larger banks are less prone to catastrophic losses than smaller banks. Amadeo Pietro “A.P.” Giannini started life as a fruit wholesaler. He built and sold a large business, decided he was too young to retire, then innovated an entirely new type … Continue reading "Branch Banking"
NickelodeonNickelodeon’s were the original movie theaters. Many had gaudy facades but, inside, they were dark dank rooms with wooden benches to watch short movies. Movies ran on a reel and people could watch as long as they wanted, or as long as they could stand the oftentimes filthy interiors. Possibly because Nickelodeon theaters are successors … Continue reading "Nickelodeon"
ParachuteParachutes lowered the risk of flight, encouraging innovation in flying. In 1782, the Montgolfier brothers launched the first hot air balloon from the grounds of the Palace of Versailles. King Louis XVI and Marie Antoinette — the last of the French aristocracy who would be beheaded during the revolution — watched as the balloon lifted … Continue reading "Parachute"
Electric Arc WeldingElectric arc welding lowered the price of joining metal pieces, eventually enabling the construction of much larger structures. Russians love to build giant things, bolshoya as they say in Russian. Therefore, it makes sense that it was a Russian, Benardos Nikolai Nikolaevic, who realized in 1881 that two metal pieces can be tightly joined together … Continue reading "Electric Arc Welding"
Modern Genetically Modified Organisms (GMO’s)People have been genetically modifying plants and animals for eternity. Virtually every plant we eat is the result of genetic modification via selective breeding. Tomatoes, broccoli, cauliflower, kale, and countless others only exist due to genetic modifications. Furthermore, cows, pigs, chickens and arguably even all modern breeds of dogs are the result of genetic modification. … Continue reading "Modern Genetically Modified Organisms (GMO’s)"
FM RadioHistory In 1906, Lee de Forest invented the “three-electrode Audion” cathode ray tube. However, by his own admission, saw no use for it in radio. During his time at Columbia, Armstrong worked with Audion tubes and realized they could recycle a radio signal, amplifying it by sending it repeatedly through the tube. Further, by reversing … Continue reading "FM Radio"
Archie McCardell: Worst CEO EverArchie McCardell is the worst CEO in history. Sure, there are CEO’s who committed crimes, CEO’s who bankrupt their businesses, and CEO’s who looted their businesses. There are crooks, those who hire cronies, people who paid bribes, plenty who demanded sex or servitude, and countless sociopaths. In fairness to him, Archie did none of these … Continue reading "Archie McCardell: Worst CEO Ever"
Discount AirlineAs the airline market developed, the US found it necessary to regulate interstate air transport as a “public utility.” Significantly, the “Civil Aeronautics Board” (CAB) regulated fares, routes, and schedules. The benefit of regulation was predictability and widespread routes. For example, a carrier that wanted to fly from New York to Chicago might be required … Continue reading "Discount Airline"
Blue Ocean Strategy & Finance: Margin LendingMargin lending refers to the process of using borrowed money for investing. For example, a traditional investor may purchase 100 shares of a business for $10, spending $1,000. However, using margin, that same person may purchase 150 shares, spending the same $1,000 and borrowing another $500. If the stock price goes up, they pay the … Continue reading "Blue Ocean Strategy & Finance: Margin Lending"
