Difference EngineBabbage’s Difference Engine, funded by Lovelace, is the first modern mechanical computer. No sooner had he announced his idea than many declared it impractical or even a hoax. Engineers eventually built a working difference engine in 2002 proving Babbage’s ideas were viable, but the engineering processes of his time were inadequate. Presently, there are working … Continue reading "Difference Engine"
MimeographMimeographs are essentially low-cost but low-quality and easy-to-use printing presses. They produced good-enough copies at a cost far lower than hand copying. Copies are produced from user-created stencils. Mimeographs remained the dominant form of document duplication for almost a century until photocopy machines became inexpensive and ubiquitous. For decades, mimeographs were the only way to … Continue reading "Mimeograph"
Global Positioning System (GPS)GPS uses satellites to compute positioning in 3D space, allowing automatic mapping and advanced navigation. The Soviet Union launched the Sputnik satellite on October 4, 1957. Sputnik did nothing but send out radio pings audible on radio receivers on earth. Conveniently, they launched the satellite to fly over then arch-enemy the United States. As scientists … Continue reading "Global Positioning System (GPS)"
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"
General Purpose CatalogBackground The general purpose catalog increased the selection and decreased the costs of small-town stores that could only afford to carry limited innovatory. Tiffany’s Blue Book is one of the oldest catalogs, from 1845. There were book, seed, and fabric catalogs in Europe dating back centuries. Ben Franklin created the first US catalog, for scientific … Continue reading "General Purpose Catalog"
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"
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"
Automatic Tomato HarvesterGrain and corn harvesters date back to the 1800s. However, grain and corn are relatively easy to harvest. Grain harvesting involves little more than cutting tall grass whereas ears of corn are large, strong, and similarly shaped. Tomatoes Interestingly, tomatoes were not common food until the 1800s. Early colonialists brought the tomato plant to Europe … Continue reading "Automatic Tomato Harvester"
VirtualizationVirtualization enables the separation of an operating system and the physical device, the chips that it runs on. An imperfect but close enough metaphor is auto rental. Rather than purchasing a car, that may be too big for many tasks and too small for others, a user can rent just the right size car or … Continue reading "Virtualization"
Interpress & PostScriptInterpress and PostScript enabled display technology, initially printers and eventually screens, to display output exactly as it would look between media. Printouts and screens, no matter the size, would look exactly the same. The technology is another from Xerox PARC. Background Warnock left Evans & Sutherland, a computer graphics company founded by Ivan Sutherland, to … Continue reading "Interpress & PostScript"
Personal Digital Assistant (PDA)Personal Digital Assistants (PDAs) are handheld computers. They were supposed to be more convenient and simpler than carrying paper. Most significantly, and the reason they are a major invention, is their influence as a bridge to the smartphone. David Potter created the Psion Organizer in 1984 featuring 2K or RAM in a handheld (sort of … Continue reading "Personal Digital Assistant (PDA)"
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)"
Ted Hoff’s General Purpose Microprocessor“…even though science and technology are wonderful, what really gets them out there for people to use is to have businesses built around them. It takes savvy businessmen as well as savvy technologists to make that work.” Tedd Hoff Background Ted Hoff had access to then state-of-the-art vacuum tube circuits in high school. In 1954, … Continue reading "Ted Hoff’s General Purpose Microprocessor"
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"
Object-Oriented ProgrammingObject oriented programming is the first of countless Xerox PARC inventions. Vastly simplifying, there are two ways to program a computer. In procedural programming, each thing the computer does is listed. Conditional statements tell the computer which path to follow. Comparatively, in object-oriented programming, objects mimic real life. Programmers then act on these objects. For … Continue reading "Object-Oriented Programming"