It’s mind blowing to think that storing a terabyte of data used to cost about 100 billion dollars. Nowadays it fits on a $20 flash drive (MSRP is closer to $100)

In 1956, IBM introduced the first hard drive, the IBM 305 RAMAC, which had a storage capacity of about 5 megabytes (MB). The cost of this system was approximately $10,000 per megabyte, meaning the entire system would cost around $50,000 for just 5 MB of storage.

To calculate the cost of 1 terabyte (TB) of memory in 1956 using this rate:

• 1 TB = 1,024 GB
• 1 GB = 1,024 MB
• 1 TB = 1,024 x 1,024 MB = 1,048,576 MB

At $10,000 per MB, the cost of 1 TB would have been:

1,048,576 MB * $10,000/MB = **$10,485,760,000** (over 10 billion dollars)

So, 1 TB of storage would have cost over 10 billion dollars in 1956.

By 2020, the cost of storage had decreased dramatically due to significant technological advancements in the storage industry.

In 2020, the cost of storage was approximately $0.02 per gigabyte, which translates to $0.00002 per megabyte. Using the same calculation as before:

• 1 TB = 1,024 GB
• 1 GB = 1,024 MB
• 1 TB = 1,048,576 MB

At $0.00002 per MB, the cost of 1 TB in 2020 would have been:

1,048,576 MB * $0.00002/MB = **$20.97**

So, 1 TB of storage would have cost around $21 in 2020.