In 1965, George Moore, director of research and development (R&D) at Fairchild Semiconductor at the time, forecast in an interview that “The complexity for minimum component costs has increased at a rate of roughly a factor of two per year.” He later modified that rate to doubly every two years at the 1975 IEEE convention. Thus Moore’s Law was created.
The semiconductor industry actually has used this law to set goals for capability, and the results are impressive. It works.
Whether Moore set the bar or predicted the future. Thank goodness we don’t have to lug around the “executive portable computer” any more. The iPhone pictured below is from 2007 too.