A 500GB hard drive for $1,000,000 !

I’ve always been fascinated by how fast technology moves. It’s so easy to get wrapped up in the latest gadgets we often forget just how fast it is actually moving! A few days ago, I purchased a 500 Gigabyte drive for $160 at Best Buy. As I was standing in line to pay, my mind wandered back to around 1991 when my Dad loaned me $400 to buy a 200 Megabyte hard drive (I don’t think I ever repayed this loan now that I think about it…). Anyways, while standing in line, I was doing a little math in my head and determined that that old 200MB hard drive cost me $2 per megabyte. So, think about it – My new 500GB equates to a 500,000MB drive which at $2 per megabyte would have been a whopping $1,000,000! To put this inversely, my new drive cost me 0.032 cents per megabyte.

So, I went to Google News (which now allows you to search news archives back several decades) and searched for “seagate per megabyte” and found this little gem from a publication called Lotus that was published on April 1, 1989:

“The cost of hard-disk storage has fallen precipitously in the past two years. Last year the price was about $18 per megabyte; today it’s down to $13 per megabyte, and Dataquest estimates a more than 50% drop to $6 by 1992”

WOW! Even the author underestimated just how fast the prices would drop!

I was already well into my career during these days and purchased hard drives at these crazy prices. These dramatic changes happened right in front of me and I didn’t really realize the magnitude until now.

Sigh – I feel old today

~ by gregorywilson on December 7, 2007.

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