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Greyson Nguyen
Greyson Nguyen

Telecoms In The Modern World As Seen From 1969

With the 50th anniversary of Apollo 11 and subsequent lunar missions, many events and activities were planned around the United States, including a gala hosted by NASA at the Kennedy Space Center in July 2019. The film First Man tells the story of Apollo 11 Commander Neil Armstrong at a very personal level. We can now take a look back and see how the technological know-how required to support the space race essentially built the modern world as we know it today. Life would be unimaginable without these many advancements that we now take for granted.

Telecoms in the modern world as seen from 1969

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In 1969 a key step was taken by S. Crocker (then at UCLA) in establishing the Request for Comments (or RFC) series of notes. These memos were intended to be an informal fast distribution way to share ideas with other network researchers. At first the RFCs were printed on paper and distributed via snail mail. As the File Transfer Protocol (FTP) came into use, the RFCs were prepared as online files and accessed via FTP. Now, of course, the RFCs are easily accessed via the World Wide Web at dozens of sites around the world. SRI, in its role as Network Information Center, maintained the online directories. Jon Postel acted as RFC Editor as well as managing the centralized administration of required protocol number assignments, roles that he continued to play until his death, October 16, 1998.

Nancy: Did you know that the core values and business principles of JPMorgan Chase today were established over 150 years ago by three generations of Morgan men? The story begins with Junius Morgan, a New England businessman who established the Morgan name in the world's financial markets while working as a merchant banker in London in the 1800s. With Junius' guidance, his son, J. Pierpont Morgan, entered the banking business. In 1871, Pierpont joined forces with Anthony Drexel, a prominent Philadelphia-based banker, and established a new merchant bank in New York City. The Drexel-Morgan partnership initially operated as an American agent for Junius' European firm. It didn't take long, though, for it to become the preeminent private bank in the US. Under Pierpont's leadership the firm, later renamed J.P. Morgan and Company, was largely responsible for financing and organizing the railroads, steel, and utility companies that established the United States as a modern industrial power. Pierpont also played a critical role in times of financial crises, stemming international panics in both 1893 and 1907. He became known for his integrity and judgment, the same standards by which he measured his colleagues and clients. In a statement to the Senate Banking Committee in 1912, Pierpont noted that, 'the first thing is character,' before money or anything else'. After Pierpont's death in 1913, his son, J.P. Morgan Jr, better known as Jack, took over as senior partner of the firm. Jack left his own mark on J.P.Morgan through a series of landmark deals, leading the firm for three decades. Like his father, Jack embodied the same values of honesty and integrity, stating that, 'the idea of doing only first class business, and that in a first class way, has been before our minds.' And this concept is the way we do business today. In 1940, J.P.Morgan reorganized from a private partnership to a public company, with Jack as its first chairman. Over the next 60 years, the firm remained an innovative leader in the financial industry, and in 2000, merged with Chase Manhattan to form JPMorgan Chase.

Rachel: The blue octagon is an iconic and recognizable logo that's become synonymous with the Chase retail brand today. But did you know that its creation sparked a new movement in the design of corporate logos? In fact, when the octagon was first launched it represented a benchmark in corporate culture showing how firms were beginning to understand the significance of a strong brand and how they were perceived in what was already a fast paced world. But what prompted the bank to reassess its logo back in 1959? Shortly after the 1955 merger that created the Chase Manhattan Bank, then Vice Chairman, David Rockefeller, chose the design firm Chermayeff and Geismar Associates, to create a logo that would best reflect Chase Manhattan's increasing global reach and complement the modern design of the company's brand new 60 story headquarters in Lower Manhattan. The previous logo failed to capture the unique feel of the brand. Its complex design used five different elements from the company's two main heritage banks, the Bank of the Manhattan Company and Chase National Bank. Rockefeller knew the logo needed a strong graphic, something recognizable around the world. Inspired by a simple geometric shape the design firm hired by Rockefeller created the octagon logo, a visual that was sleek, attractive and timeless. On November 21st, 1960, the new logo was unveiled, one of the first abstract logos used in banking. With its clean lines and modern look the dynamic symbol mapped against Chase Manhattan's corporate vision demonstrating, as the designers put it, how all activity is centered around a square, implying growth from a central foundation. Just like any business, Chase and its logo have gone through subtle changes over the years. Although the original design featured multiple colors and patterns, in 2004 the solid blue octagon was adopted. While variations in the color and typeface have evolved over the years, the strength of the octagon remains the enduring symbol of the Chase brand.

Steven: As early as 1799, JPMorgan Chase's predecessor banks used advertising to tell the public about their banking services and attract new customers. In the 200 years since our firm was founded, banks have relied on this powerful tool to bring in new business. Early advertisements took the form of newspaper notices and text-heavy magazine ads. But that changed during the 1950s and '60s, a heyday of bank advertising that reached out with more creative content to a broader demographic of potential customers. The ad industry was coming of age and JPMorgan Chase's predecessor banks used the best in the business to craft attention-grabbing promotional campaigns. In print, radio, and TV, the banks advertising agencies worked hard to change consumers' perceptions of our banks, turning them from impersonal institutions to customer-friendly financial firms, providing services to make their lives easier and better. During this time, Chase Manhattan Bank unveiled its playful 'Nest Egg' campaign. The ads featured people trying to relax or have fun while shackled to giant eggs. Then there were the 'You Have a Friend at Chase Manhattan' ads, which sought to personalize the banking experience globally. This iconic campaign launched in 1960 and ran for over 15 years. Whether making a deposit in Malaysia, or wiring money from Mexico, the message around the world was that no matter where you are, Chase is there for you. In contrast to Chase's global focus, Chemical Bank targeted a more specific audience. TV ad spokesperson: The New York woman. When her needs are financial, her reaction is chemical. Chemical New York. Steven: This 1965 campaign was one of the first in the industry to market directly to women. It was right on trend as the decade saw women entering the workforce in greater numbers and gaining more economic power. With the standard of living on the rise, the 1960s also saw a boom in car sales and with that, auto focused ad campaigns. The Manufacturer's Hanover Auto Loan Department made its mark with its unusual 'Sponge on Wheels' advertisements. The bank reminded customers that, like a sponge, their old, unreliable cars soaked up money in the form of frequent repairs and gasoline. But a Manufacturer's Hanover auto loan could put them into a new, more efficient car and help them save money. The campaign was a success, bringing in thousands of new loans for the bank. In 1971, the same department unveiled its head turning 'Any Car' campaign, showcasing a vehicle created from the parts of 22 different cars. It was the focal point of an aggressive auto loan program. The message? That the bank provided loans for any car, new or used. This amusing campaign featured these quirky composite cars and print, TV and radio ads and parked them in branches for customers to marvel at. During this mid-century Golden Age of Advertising, each of these banks used clever language and creative imagery to capture the spirit of the time and effectively communicate why it was a great idea to bank with us.

Steven: Technology has revolutionized how bankers and consumers handle money in amounts ranging from the single penny to billions of dollars. Early banks, including those that would become part of JPMorgan Chase, added up dollars and cents by hand, a time consuming task that left a lot of room for error. Over the years, JPMorgan Chase and its predecessors pioneered technologies that saved money and dramatically increased the speed at which bank work could be accomplished. Around the turn of the 20th century, even simple advances improved the employee and customer experience. The hand cranked adding machine of the 1890s did the work of two people. The direct dial phone eliminated the need for a switchboard, while the electric coin counting machine tallied with accuracy and was up to five times faster than counting by hand. In the 1920s, check processing, the backbone of personal banking, was greatly improved with the Recordak. Bank employees used the machine to process large volumes of checks entering the bank by photographing them, saving hours of work a day, and guarding against forgery. But it was the introduction of the electronic computer in the 1950s that revolutionized banking, propelling the industry forward at an unprecedented pace. Computers quickly became a staple in back offices across the country, and many of our predecessor banks built entire data processing centers devoted to the new technology. In 1959, Chase Manhattan Bank installed an IBM 650 computer, which enabled the staff to process transactions at lightning speed. A few years later, Chase Manhattan opened its New York Automated Check Processing Center, one of the largest in the world. Relying on new computer technology, employees processed checks using a high speed sorter that could read magnetic ink characters. Within the first year, it was processing over a million checks per day. As computerization spread across the country, so too did the bank credit card, which transformed America's shopping habits. Now, instead of opening individual charge accounts with each store, bank clients could use one card for their purchases at any store. In 1969, Chemical Bank unveiled its cash machine, the precursor to the ATM. The ATM, the Automated Teller Machine, made banking on the go possible with the swipe of a card. ATMs appeared in malls, airports and overseas, making it possible to get cash and perform transactions 24 hours a day. The trend for banking whenever, wherever and however you'd like continued. With Bank One's Channel 2000, an early home computer banking program launched in 1980, customers could bank without ever leaving the house. The internet brought banking at home into the 21st century, allowing customers to complete transactions securely online through personal computers, while mobile apps like Chase Pay meant banking could be done with the swipe of a finger on a phone, tablet or watch from anywhere in the world. JPMorgan Chase has come a long way, from bankers computing numbers by hand to a global team of technologists working hard to keep us ahead of the curve. Behind the scenes, the firm is developing new technologies, deploying artificial intelligence and working in the cloud to advance the financial landscape. This culture of innovation is helping employees work smarter, and customers bank better, every day. 350c69d7ab


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