Back in 1979, personal computers – then known as microcomputers – were in their infancy; they included models such as the Atari 400, Apple II, Commodore PET, and TRS-80. In 1979, there was no world wide web, no social media, and email was unheard of for the general public.
That began to change on this day, with the arrival of Compuserve's MicroNET service. “Compu-Serv” was originally set up in 1969 as a subsidiary of Golden United Life Insurance to provide support to the company, and sell time on its mainframes to other businesses. Eventually, it decided to branch out and let the public in.
The MicroNET service allowed users access to the company's mainframes at night. For $5 an hour, (plus the cost of the phone call) they could run programs, email each other, and read news articles from the Associated Press.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The service was a hit, and on 1 July, 1980 MicroNET was rebranded as the CompuServe Information Service, or CIS. It added more features, including discussion forums and online shopping. By 1987, CIS had 380,000 subscribers, and was bringing in 50% of CompuServe's revenues.
It dominated the market in the 1980s and early 1990s. But inevitably, its success bred competition. A new upstart, AOL, arrived, marketed at people who knew very little about computers or the internet. It did away with the geeky text commands, and introduced a user-friendly graphical interface.
In 1998, AOL bought Compuserve. The service was shut down for good in July 2009. In 2015, AOL was itself bought by Verizon Communications.
-
Inheritance tax receipts jump 11% even before Autumn Budget overhaulOfficial figures show inheritance tax receipts are rising even before the chancellor’s changes to reliefs
-
Will bond vigilantes come for Donald Trump?Bond vigilantes could make a comeback if Donald Trump follows through on some of his promised policies
-
31 August 1957: the Federation of Malaya declares independence from the UKFeatures On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
-
13 April 1960: the first satellite navigation system is launchedFeatures On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
-
9 April 1838: National Gallery opens in Trafalgar Square
Features On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
-
3 March 1962: British Antarctic Territory is created
Features On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
-
10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
-
9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
-
8 March 1817: the New York Stock Exchange is formed
Features On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
-
7 March 1969: Queen Elizabeth II officially opens the Victoria Line
Features On this day in 1969, Queen Elizabeth II took only her second trip on the tube to officially open the underground’s newest line – the Victoria Line.
