Musical Instrument Digital Interface (MIDI)MIDI allows instruments to talk to computers and to one another. As engineers began connecting instruments to computers it became clear there needed to be a standard interface so that each instrument did not need to “talk” differently to each computer. Smith, who holds degrees in computer science and electrical engineering. He created the MIDI … Continue reading "Musical Instrument Digital Interface (MIDI)"
Gyroscopic Navigation (Autopilot)Gyroscopic navigation enables planes and ships to stay on a straight course without human intervention. Long before GPS, airplane pilots used compasses and waypoints to navigate. Natural landmarks or even giant arrows guided planes when to turn and in which direction. Of course, between waypoints, it was necessary to fly straight or the pilot would … Continue reading "Gyroscopic Navigation (Autopilot)"
Container ShippingBefore container shipping, trucks were manually unloaded by longshoremen, loaded onto ships, and the process repeated at the destination. This added enormous cost, slowed shipping times and increased the risk of breakage. Inspired by WWII standardization, McLean designed containers that fit directly on ships. His standardized containers and ships enable faster and less expensive loading … Continue reading "Container Shipping"
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"
Long-Term MortgagesMortgages are loans to purchase a property. The word derives from the French “mort” and meant death pledge with the obligation ending when the loan was paid off or the property repossessed. Background The Dutch have the earliest mortgages. Originally in the Netherlands, people saved money and purchased their house for cash. However, starting in … Continue reading "Long-Term Mortgages"
Adding MachineBlaise Pascal was a French mathematician who lived in the 1600s. He is most known for his work in geometry and statistics but is included here for building the first non-abacus adding machine. Going back briefly, the abacus dates back to at least 300BC. Our earliest cutoff date for innovations is the printing press or … Continue reading "Adding Machine"
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"
Modern Management (Wedgwood)Modern management, marketing, and high-end sales to ordinary people make pottery company Wedgwood a management innovator. Pottery dates back to ancient times. Fragments of pottery in China date back 20,000 years. Since then, for the most part, wherever archeologists find people they also find pottery. Therefore, opening a pottery manufacturer, especially in the 1700s, intuitively … Continue reading "Modern Management (Wedgwood)"
Computer Numerical Control (CNC) MachineComputer Numerical Control (CNC) machines create identical interchangeable parts. They simplify manufacturing and reduce the risk of human error producing parts. Starting in 1949, John Parsons worked with Frank Stulen at Gordon S. Brown’s Servomechanisms Laboratory at MIT to develop a system where punch cards controlled a machining tool, called Numerical Control (NC). This evolved … Continue reading "Computer Numerical Control (CNC) Machine"
Electronic Maps – Geographic Information Systems (GIS)Electronic maps simplify planning and routing. They lower the cost of transportation by sharply reducing the cost of getting lost. Furthermore, they allow optimization of store and advertisement placement. The reason Starbuck’s always seems to be “on the way” is due to the use of GIS. Dangermond found Environmental Systems Research Institute (ESRI) in 1969 … Continue reading "Electronic Maps – Geographic Information Systems (GIS)"
Computer Assisted Design (Sketchpad)“The cinema camera doesn’t make movies; it allows movies to be made. It’s the creative people who make it real to people.” Ivan Sutherland Computer Assisted Design (CAD) uses mathematics to do the geometry and calculations necessary to draw and design. CAD is faster and more accurate than hand drawing. Sutherland’s “sketchpad” software, part of … Continue reading "Computer Assisted Design (Sketchpad)"
UnixUnix is a computer operating system. Among other things, it allows a computer to do many things at once. Derivatives of the original Unix include Linux, MacOS, and BSD. You’re reading this right now due to a server running Unix derivative Linux. Background Dennis Ritchie and Ken Thompson worked at Bell Labs. Thompson worked on … Continue reading "Unix"
RocketsIn 1914, Goddard patented the first rocket and, in 1926, Goddard fired the first liquid-fueled rocket. Goddard predicted rockets would one day enable space flight, a prediction widely ridiculed as science fiction. Eventually, in 1929, Oberth fired his modern liquid-fueled rocket. Oberth eventually taught Wernher von Braun, who perfect modern rocketry. In time, both Oberth … Continue reading "Rockets"
Computer GameBackground Early computers used punch cards to load programs and data into computers. The software was a stack of cards, each card one line of a program. Data input were cards on the top of the stack. Eventually, then the entire thing fed into a card reader. The reader read the stack, processed the data, … Continue reading "Computer Game"
Automated Flour MillOliver Evans’ mill vastly lowered the cost while increasing the quality of flour. These mills automated the milling of flour much like Arkwright automated the creation of fabric. The automatic mills were popular with farmers. Evans automated mill reduced the time and increased the quality and consistency of flour. George Washington purchased one that is … Continue reading "Automated Flour Mill"
