Word: bulbs
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Dates: during 1920-1929
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...unfailing market for replacement parts. Phonograph records wear out, and have to be replaced at a fairly rapid and constant rate, and fashions in records change. But the radio machine is singularly constant. It does not wear out. Its parts are singularly constant, too. You have to replace bulbs, but a bulb will last for a year or more. Batteries wear out, but the radio companies have no monopoly on batteries. The companies are confronted by the fact that they have no prospect of a steady income of money from radios over a long period...