Index Investment Funds“Don’t look for the needle in the haystack. Just buy the haystack!” Index investment funds are simpler and vastly less expensive than individual stock picking. Firms mimic index funds which, themselves, are created to mimic market strength. Not only do 85 percent of hedge fund managers trail returns in the S&P 500 but also they … Continue reading "Index Investment Funds"
Vacuum Tube (Diode)Working for the Edison Electrical Light Company of England, Sir John Fleming invented the diode, a vacuum tube at the heart of all early electronics. Radios, television, telephones, computers – virtually every electronic we’re familiar with today – was first built with diodes. Diodes are typically vacuum tubes, though some have specialized gasses in them. … Continue reading "Vacuum Tube (Diode)"
Nuclear PowerOne of the great physicists, Fermi won the Nobel Prize in 1938, at the age of 37. No sooner did he receive his prize than he fled from his home in fascist Italy to New York City, taking US citizenship. Eventually, Fermi and the other nuclear scientists had convinced President Roosevelt that the Nazis could … Continue reading "Nuclear Power"
Random Access MemoryRandom Access Memory (RAM) is a type of fast memory. The Central Processing Unit (CPU), the brain of a computer, relies on RAM. RAM exists to this day. Every computer, including smartphones, contains RAM. The “random” in RAM refers to its ability to access memory anywhere, instantly, unlike a disk drive that must search for … Continue reading "Random Access Memory"
- Featured Stupid Feature: Auto-Off Scales
Cross-posted from blueoceanthinking.substack.com. The blue ocean strategy process includes the well-known “Four Actions Framework” where we eliminate, reduce, raise, and create key factors in search of a new offering. Eliminating and reducing features that add cost but not value is often key to creating a blue ocean megahit. Traditional marketers have a knee-jerk reaction; they … Continue reading "Featured Stupid Feature: Auto-Off Scales"
24-Hour NewsBroadcast news was a staid affair, a half-hour visual summary showing events of the day. American networks NBC, ABC, and CBS each had a newscast and each aired at the same time. Ted Turner inherited an outdoor advertising company. To build more advertising outlets he purchased a third-rate television station running old TV series and … Continue reading "24-Hour News"
Steam Engine (Newcomen)The Newcomen steam engine removed water from mines. It worked but was extremely inefficient. Steam was not recycled (re-condensed) so the Newcomen engine required an enormous amount of coal to continually boil water. When used at a coal mine, where scrap coal was essentially free, this cost less than having workers remove water by the … Continue reading "Steam Engine (Newcomen)"
Mass Market ElectricityEdison created the first public electric company, powered by DC, in 1882 in lower Manhattan. His system included generators, junction boxes, fuses, sockets, and parallel wiring. Since DC current could not be transmitted far Edison’s initial electrical plant was limited in scope. Eventually, there would be many small, expensive electricity plants scattered around major cities … Continue reading "Mass Market Electricity"
Hybrid CornGenetic modification by people have produced virtually all plants and animals in the western world. Broccoli, cauliflower, cabbage, kale, kohlrabi, and brussels sprouts are all derived from a wild mustard plant in Europe. None of these vegetables exist but-for early genetic engineering. Similarly, all dogs, cows, pigs, sheep, and chickens are modern man-made creations. Scientists … Continue reading "Hybrid Corn"
Vulcanized RubberVulcanization is the process that makes rubber useful. Before vulcanization rubber was effectively a useless gooey material. It melted in the heat, went brittle in the cold, and made for terrible raincoats. Vulcanization stabilized rubber in a useful state. The rubber we know now exists due to vulcanization. Charles Goodyear ran a small but successful … Continue reading "Vulcanized Rubber"
Float GlassBefore float glass (also called flat glass), each piece of glass was individually poured and polished. This was a time consuming and expensive process that left the contours of glass uneven. Pilkington invented a method of floating the glass in a bath or iron tin, leaving both sides of glass perfectly smooth. Float glass took … Continue reading "Float Glass"
Better Oil Drill Bit (Tricone Rotary Rock Drill)A drill bit sounds relatively petty compared to the other inventions on this list. Granted, it’s not Watt’s condensing steam engine, Edison’s long-lasting lightbulb, Tesla’s induction motor or the Wright Brothers airplane. But Hughes drill bit dramatically lowered the cost of drilling for oil. It also opened previously unavailable oil fields where oil reserves lay … Continue reading "Better Oil Drill Bit (Tricone Rotary Rock Drill)"
Ballpoint PenBallpoint pens are modern pens, where ink a tube coats a ball at the end which writes. Unlike fountain pens they are inexpensive and require no skill beyond the ability to write. Loud, an American Harvard-educated lawyer, invented and patented the ballpoint pen but failed to commercialize the pen. Other versions were released but none … Continue reading "Ballpoint Pen"
Assault RifleAssault rifles can shoot repeatedly and rapidly without reloading. Nazi’s realized that in most fire-fights soldiers were less than 400 meters. While traditional machines guns could shoot considerably further, their range was unhelpful. Furthermore, the weight of both the weapons and ammunition became a liability. In response, Nazi’s invented a light weapon with smaller and … Continue reading "Assault Rifle"
Chlorofluorocarbons “Freon”Freon is the brand name of a Chlorofluorocarbon gas. It replaced other refrigerant chemicals that were more toxic or volatile, including ammonia. Throughout the 20th century, Freon became the dominant refrigerant gas. The team that invented Freon was led by Thomas Midgley, Jr., who earlier had invented leaded gasoline. It was a joint venture between … Continue reading "Chlorofluorocarbons “Freon”"
