Facsimile (FAX) MachineAlexander Bain created a telegraph that transmitted light and dark dots that were reproduced on the other side, the fax machine, long before the telephone. Early faxes were popular with newspapers due to their ability to quickly transmit crude images. Countless modifications and improvements followed over the years. Despite the obvious differences in the innovation, … Continue reading "Facsimile (FAX) Machine"
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"
Micro-Electro-Mechanical Systems (MEMS)MEMS are literally microscopic-machines. The best-known MEMS are the accelerometers that have become ubiquitous in smartphones, allowing precise tracking of movement on the X, Y, and Z-axis. Significantly, MEMS are the reason your phone can sense movement. Additionally, other MEMS devices include miniature microphones, projectors, cameras, and countless others. MEMS were first proposed in 1959 … Continue reading "Micro-Electro-Mechanical Systems (MEMS)"
AirlineCount von Zeppelin, inventor of the airship, partnered with a group of other German industrialists to create a Zeppelin manufacturing company and also an airline. Airships Their first airship, the enormous LZ1, launched July 2, 1900. It crashed and survived but the test was not successful for the German government to invest more funds in … Continue reading "Airline"
Barcodes & Universal Product Code (UPC)Barcodes and UPC: Vastly sped checkout times. Reduced the number of staff and training required and the risk of the wrong price being rung. Increased the ability to electronically manage inventory, lowering carrying cost and spoilage risk. Enabled Just-In-Time ordering and itemized invoices. Transformed market research, enabling “big data” studies about items purchased together and … Continue reading "Barcodes & Universal Product Code (UPC)"
Modern AdvertisingBefore Albert Lasker advertisements tended to be crude, raising awareness or reinforcing a brand name. Many ads were not much more than offers to purchase something, with no overarching idea. Lasker used the emerging science of psychology and budding technology of radio to radically change advertising. Background Born in Germany, Lasker moved to the US … Continue reading "Modern Advertising"
Synthetic DyeAs the Industrial Revolution gained steam (OK – bad pun), England’s population became denser. Eventually, the resulting pools of water bred mosquitos that eventually became a malaria epidemic. Perkin, a 15-year-old student, ran crude experiments to create lower-cost quinine, a malaria medicine. One of his processes accidentally produced a strong purple liquid. Useless as a … Continue reading "Synthetic Dye"
Nuclear SubmarineNuclear submarines can stay underwater for an unlimited amount of time, or at least until the food runs out. Prior to nuclear subs, there were diesel-electric subs, that still exist today. However, these subs use diesel engines to recharge batteries. Therefore, diesel subs must surface to turn on the diesel engines and recharge their batteries, … Continue reading "Nuclear Submarine"
Mini Steel Mill (mini-mill)1969 Ken Iverson “Integrated” steel mills create steel from raw materials. They use the Bessemer process to transform raw materials into enormous amounts of steel. The plants are giant, inflexible, dirty, and expensive to erect and run. Ken Iverson worked at the Nuclear Corporation of America (eventually, Nucor), a conglomerate of assorted businesses pulled together … Continue reading "Mini Steel Mill (mini-mill)"
RailroadRailroads vastly lowered the cost of moving people and goods over land. Richard Trevithick invented the locomotive engine. However, he never quite created a fully functioning railroad: Trevithick’s locomotive was a literal circus act, pulling children around a track at a circus. His core innovation was the idea of a high-pressure steam engine. Prior steam … Continue reading "Railroad"
Credit UnionLet it not be forgotten that a credit union is, above all else, an association of people, not dollars. Alphonse Desjardins Banks at the turn of the 20th century were for rich people. A.P. Giannini founded his Bank of Italy, later renamed Bank of America, in 1904 as a bank for everybody else. But it … Continue reading "Credit Union"
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)"
Binary TheoryIn 1935 theoretical mathematician Alan Turing proposed a machine that would use a series of on and off switches that could represent or compute anything. Turing joined the war effort to build mechanical computers that decrypted Enigma messages. Eventually, he helped with electronic computers. His theories underpin all modern computers. Subsequently, Turing envisaged reasonably sentient … Continue reading "Binary Theory"
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"
Sewing MachineBackground In 1829 Thimonnier, a French tailor, innovated the sewing machine. Thimonnier found financiers to build a factory to help commercialize his new machine but workers – fearful the new machine would destroy their livelihood – burnt down the factory. He obtained further patents on better models of sewing machines and won prizes. However, he … Continue reading "Sewing Machine"
