Decades of Disruption: The 1970s

The 1970s was a decade defined by disruptive musicians, generational change, and innovators breaking the norm. In the 70s, hippie anthems from the 60s gave way to glam rock artists like David Bowie and disco divas such as Diana Ross. As in past generations, the changes in the 70s were building blocks for the future. Looking back, one can find elements of 70s music in 80s rock music videos with outrageous costuming and makeup inspired by Bowie or by turning on the radio to hear modern house music mixed with disco techniques. These parallels are not a coincidence; the change-agents of the 70s created the important ingredients for future breakthroughs. Nasdaq had its own beginnings in the 1970s as the world’s first electronic stock exchange, and we take pride in companies that joined us in innovation.

Inventions from the 70s provided the foundation for products and services of the 21st century. They have become the basis of today’s conveniences and tomorrow’s innovations. Take the microwave oven or a stack of Post-it Notes for example – two products from the 70s. Now imagine a kitchen or office without them. The convenience of heating up a burrito in under a minute and the ability to place colorful reminders in your cubicle are as ubiquitous as the desk and chair.

Although the allure of these products may have faded, the importance of their invention holds forty years later. These products have led to further innovation, building upon the next, and today convenience is being taken to the next level. Smart microwaves and productivity apps are being developed with the original concept in mind – only more technologically advanced.

This decade opened up entirely new lines of communication as well. Martin Cooper and his team at Motorola invented the very first cell phone in 1973. This portable product would one day give people the ability to instantaneously communicate with anyone around the world. No longer would individuals be confined to their desks or homes in anticipation of an incoming call. Having access to a mobile telephone freed people by allowing them to communicate on-the-go.

The cell phone was not made into a commercial product until about ten years later with a steep price tag of $3,995, and the cost became more reasonable in the 90s. Since then, cell phones have become widely adopted by professionals and teenagers alike; as of April 2015, 92% of adults owned a cell phone compared to the few who were able to foot the initial price tag. Innovations such as smart phone technology and mobile Internet have added further utility to cell phones. As of February 2015, “about half the adult population owns a smartphone; by 2020 80% will.”

Further technological advancements in the 70s greatly improved personal and organizational productivity. In 1977, Apple Products sold their first consumer product. Steve Jobs introduced the Apple II, one of the first successfully mass-produced microcomputers. Apple was not alone in innovation and success. A complementary product, the floppy disk, was commercially introduced by IBM in 1971. These floppy disks gave individuals and businesses the convenience of storing files from their microcomputers. Further developments included Dennis Ritchie’s founding of C Programming Language. C became one of the most widely used programming languages and a basis for others to come. C++, Java, and Python have since borrowed features from C.

The entertainment industry grew in the 1970s because of emerging technologies including the Walkman and Atari. The Walkman, a portable cassette player made by Sony, made its debut in 1979. The technology itself was not cutting-edge; other music players were available on the market, but the Walkman forever changed the way people listened to music. This product disrupted the market because of its portability and privacy. Although many still preferred to listen to vinyl at home, 200 million units of this cassette player with headphone jacks were sold. Executive Deputy of Sony at the time has been quoted saying, "Try this. Don't you think a stereo cassette player that you can listen to while walking around is a good idea?"

Entertainment was further revolutionized by the founders of Atari, Nolan Bushnell and Ted Dabney. In 1972, the company pioneered a new space in the entertainment industry—the electronic space. Their console, the Atari 2600, laid the foundation for the today’s thriving video game industry. Total revenues for the industry in the U.S. grew to $23.3 billion last year according to the Entertainment Software Association.

It is important to remember the beginnings of today’s technology as we benefit from conveniences of the Information Age. As we enjoy every day conveniences of modernity, we might overlook their connections to the past. From ambitious beginnings in the 70s, our lives are now rooted in innovations from that decade. Present-day revolutionaries continue to lay the framework for future generations themselves. Consider for instance the ubiquitous smartphone that provides us with unlimited information, high frequency stock trading, music streaming, and video games. It makes you wonder where these disruptive products and companies take us next.

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