16 November 1904: John Ambrose Fleming patents the oscillation valve

On this day in 1914, John Ambrose Fleming patented his oscillation valve – a component which formed the basis of the electronics industry for half a century.

John Ambrose Fleming's thermionic diode or oscillation valve
Fleming's oscillation valve: astonishingly useful and oddly beautiful
(Image credit: © SSPL/Getty Images)

Perhaps the only contact many of us have with the sort of valves you get in electronics these days is if we have an ageing cathode-ray tube TV, or if we know a particularly boring audiophile who is prone to drone on at length about how his organically grown amp produces a much richer, more vibrant sound than your puny CDs or that new fangled streaming "music" that all the kids are listening to these days.

But valves (which our Americanly-challenged friends call vacuum tubes) were the backbone of the electronics industry for 50 years or so, until they were superseded by solid-state transistors.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up
Ben Judge

Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.

Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin. 

As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.