Superstore, v2 (Walmart)In 1962, the median lifespan of a US man was 67 years old. Arkansas, with 1.79 million residents, had the 33rd lowest GDP in the United States, $3.8 billion. That year, Sam Walton, at age 44, opened a new type of store in his hometown of Bentonville, Arkansas, naming it Walmart. Walton’s strategy was to … Continue reading "Superstore, v2 (Walmart)"
Tetraethyllead (Leaded Gasoline)Leaded gasoline prevented engine ping, making driving safer and more pleasant. Correspondingly, it also caused an enormous amount of extremely toxic pollution. Working for GM under the direct supervision of Charles Kettering at Dayton Research Laboratory, Midgley discovered the benefits of adding lead to gasoline. They named their innovation Tetraethyllead, avoiding any mention of lead, … Continue reading "Tetraethyllead (Leaded Gasoline)"
BraCommunist spitfire Ida Rosenthal came from a line of Jewish intellectuals in what was then Russia and is now Belarus. She returned from college an outspoken communist revolutionary and with a boyfriend, William. Threatened with jail, the army, or both they fled to the US in 1905 and married in 1906. Ida, who was 4′ … Continue reading "Bra"
LaparoscopyFor centuries surgeons have been purposefully cutting holes in people trying to heal them. Background Before anesthesia, antibiotics, and Lister’s germ theories surgery often meant a slow and painful death from infection. Putting things into perspective, more people died in the US Civil War from infection than from direct strike of a weapon. Purposefully cutting … Continue reading "Laparoscopy"
Privatized SpacePrivate space companies launch rockets that propel satellites (and eventually, people) into space without government funds or bureaucracy. Leaving government out of space removes political influence, simplifies space commercialization, and reduces costs. Elon Musk Elon Musk has a fondness for starting businesses that do the impossible. At first, there was PayPal. At that time, … Continue reading "Privatized Space"
Shareholder Value Theory: Milton Friedman ReduxOn September 13, 1970, Milton Friedman published one of the most arguably economically destructive articles in history, “The Social Responsibility Of Business Is to Increase Its Profits,” in the New York Times. The article is available, in PDF form, for subscribers from the New York Times website. Friedman advanced the idea that managers are agents … Continue reading "Shareholder Value Theory: Milton Friedman Redux"
Automation: Robots in Real LifePart I, “Automation Armageddon: a Legitimate Worry?” reviewed the history of automation, focused on projections of gloom-and-doom. “It smells like death,” is how a friend of mine described a nearby chain grocery store. He tends to exaggerate and visiting France admittedly brings about strong feelings of passion. Anyway, the only reason we go there is … Continue reading "Automation: Robots in Real Life"
SubmarineSubmarines changed naval warfare, increasing the risk of maritime travel from hostile countries. Underwater ships have existed in various forms for ages. There was a semi-underwater boat built for Tsar Peter the Great in 1720, and also one allegedly built during the US revolution in 1776. Steamboat baron Robert Fulton built one for the French … Continue reading "Submarine"
Solar CellsSolar Cells produce electricity from sunlight. Early History In 1873 and 1874, scientists noticed that selenium reacted with light to produce electricity. During the 1870s William Adams and Richard Day proved that light plus selenium generated current. Eventually, famous German scientist Werner von Siemens (founder of Siemens) was excited about the possibility of solar cells … Continue reading "Solar Cells"
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"
LithographyLithography allows highly detailed drawings to be inexpensively reproduced at high volumes. Before lithography, printing remained similar from Gutenberg until Senefelder’s lithographic process. Senefelder worked as an actor and playwright. Unable to earn a living, he turned to printing as a trade but could not afford the typographic fonts and materials. Frustrated, he started experimenting … Continue reading "Lithography"
Controlled Drug DeliveryControlled drug delivery is a simpler and more convenient way to slowly release drugs than taking low-dose pills or injections at frequent intervals. Additionally, it also lowers the risk of incorrect dosage. Zaffaroni invented controlled (slow) release drugs, mimicking the way the body releases hormones. Eventually, he created many pharma companies that went on to … Continue reading "Controlled Drug Delivery"
- Fourdrinier Paper Making Machine
Fourdrinier machines transform wood pulp into enormous rolls of paper. They vastly reduced the manufacturing cost and, subsequently, the price of paper. Even the smallest Fourdrinier machine is massive and requires an enormous amount of water. Frenchman Louis Roberts invented the papermaking machine. His friend and confidant, Sealy Fourdrinier, patented and commercialized the technology in … Continue reading "Fourdrinier Paper Making Machine"
- Blue Ocean Strategy Basics – Buyer Utility Map
Find and solve painpoints to navigate towards a new blue ocean offering. Painpoints are parts of the purchase or use experience identifying parts of the experience which are pains in the derriére. For example, haggling with a salesperson when buying a new car — wasting time while worrying about being taken advantage of — is … Continue reading "Blue Ocean Strategy Basics – Buyer Utility Map"
PacemakerPacemakers use electrical impulses to keep hearts beating regularly. In 1926 Australian anesthesiologist Dr. Mark Lidwill inserted a needle into the heart of a newborn and used an electric pulse to control the baby’s heart, saving its life. Lidwill’s cardiac pacemaker has saved countless lives since. Like Banting and Best, the inventors of insulin, Lidwill … Continue reading "Pacemaker"