On January 26, 1926, John Logie Baird demonstrated the first working television system in London.

Taking place in his laboratory at 22 Frith Street, Soho, Baird’s demonstration marked the first time moving images were successfully transmitted and displayed in real-time. Baird's system was mechanical, based on the Nipkow disk, a spinning disk with a series of holes arranged in a spiral pattern. This disk scanned an image line by line, breaking it into light signals that could then be transmitted as electrical impulses. At the receiving end, another Nipkow disk reassembled the signals into a visible image. The system could produce a 30-line resolution image—rudimentary compared to modern standards but revolutionary at the time. The demonstration itself featured images of a ventriloquist's dummy named “Stooky Bill” and later, a live human face. These images were displayed on a small screen, flickering but recognizable, showing the potential of television technology. This event was a historic milestone as it proved that live visual broadcasts were possible. It showcased the feasibility of transmitting moving images over a distance, paving the way for the development of broadcast television. Baird's work demonstrated not only the technical possibility but also the potential for television to become a powerful medium for communication. While Baird’s mechanical system was eventually replaced by fully electronic systems developed by others like Vladimir Zworykin and Philo Farnsworth, his pioneering work laid the foundation for modern television. Which was all well and good, as far as it went, until another milestone in 1980– when television’s first 24 hour news channel was born. By fostering reactionary behavior, the 24-hour news cycle can negatively impact investors' ability to make thoughtful, informed, and disciplined decisions. Here are seven lessons for the modern investor on how Barid’s television technology has become problematic.

* Information Overload: The constant news stream can overwhelm investors, making it challenging to filter out what is truly important versus irrelevant noise.

* Emphasis on Sensationalism: To maintain viewership, 24-hour news often prioritizes dramatic or sensational stories, which may lead investors to make impulsive decisions based on fear or excitement rather than rational analysis.

* Short-Term Focus: The news cycle tends to focus on immediate market movements and daily fluctuations, encouraging a short-term mindset that may conflict with long-term investment strategies.

* Inaccurate or Incomplete Reporting: Breaking news can be rushed, leading to inaccuracies or incomplete details that may mislead investors.

* Increased Volatility: Emotional reactions to constant updates can amplify market volatility as investors make rapid decisions based on incomplete or speculative information.

* Promotes Herd Mentality: Continuous coverage of market trends can pressure investors to follow the crowd, potentially leading to poor timing and suboptimal investment choices.

* Distraction from Fundamentals: The focus on breaking news can distract investors from analyzing the fundamentals of their investments, such as company performance or economic conditions.

Whether your television signal is mechanical or electronic, knowing when to turn off the dummies is essential.

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🎯Patrick Huey is a small business owner and the author of three books on history and finance as well as the highly-rated recently-released fictional work Hell: A Novel. As owner of Victory Independent Planning, LLC, Patrick works with families and non-profit organizations. He is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Advisor in Philanthropy® and an Accredited Tax Preparer. He earned a Bachelor’s degree in History from the University of Pittsburgh, and a Master of Business Administration from Arizona State University. Patrick previously served as a Naval Flight Officer from 1996-2005, earning the Strike Fighter Air Medal during combat operations and two Navy Achievement Medals.

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