Paul's Market Insights
Paul's Market Insights is our bi-weekly communique to provide clients with current insights on financial markets.
In 1832, Charles Babbage unveiled the initial stage of his Difference Engine No.1, the world’s first mechanical machine capable of addition and subtraction. Though never completed during his lifetime, it is widely regarded as the world’s first computer (source: Wikipedia).
It weighed four tons, cost $3 million in today’s dollars to build, and could not multiply or divide (source: Wikipedia). A pocket calculator today costs $5-10 and does far more.
Fitting Babbage’s machine into a pocket would require exceptionally large pants.
